Interim Measures For Sponsoring System Of Stock Issuing And Listing Of Start-Ups

The first step is to establish a sponsor system for issuing and listing stocks of venture enterprises, to prevent and defuse the risks of the GEM market, and to protect the legitimate rights and interests of investors. In accordance with the provisions of article ninth of the listing and listing of venture enterprises, the second interim measures are formulated.

Second securities companies as the sponsors of stock issuance and listing of start-ups (hereinafter referred to as the sponsors of sponsors) are engaged in the sponsorship work of venture enterprises, and the Interim Measures are applicable.

The second chapter is the sponsor's qualification. Third sponsors must be a securities company with the qualification of a stock underwriter or other body identified by the China Securities Regulatory Commission (hereinafter referred to as the "China Securities Regulatory Commission").

Fourth securities companies that have the qualification of stock owners to take advantage of light business will automatically obtain the qualification of sponsors of start-up enterprises, and no need to apply to the CSRC for qualification.

The fifth sponsors can be either the principal underwriter of the issuer or the other sponsor with the qualification of sponsor.

In the third chapter, the sixth recommendation period is the remaining period of stock issuing and listing, the time remaining on the stock market and the two accounting years after that.

第七條保薦人在被保薦人股票發(fā)行上市期間應(yīng)承擔(dān)下列保薦責(zé)任：（一）按照本行業(yè)公認(rèn)的業(yè)務(wù)標(biāo)準(zhǔn)、道德規(guī)范和勤勉盡責(zé)精神，為被保薦人提供股票發(fā)行上市的專業(yè)指導(dǎo)意見；（二）核查被保薦人的基本情況，確信其具備《創(chuàng)業(yè)企業(yè)股票發(fā)行上市條例》及其他相關(guān)法律、法規(guī)、規(guī)范性文件規(guī)定的發(fā)行上市條件；（三）指導(dǎo)被保薦人按照規(guī)范要求制作股票發(fā)行上市申請文件，并對股票發(fā)行上市申請文件的真實(shí)性、準(zhǔn)確性、完整性承擔(dān)連帶責(zé)任；（四）指導(dǎo)被保薦人建立規(guī)范的法人治理機(jī)構(gòu)；（五）確信被保薦人的全體董事具備擔(dān)任董事職務(wù)所需的專業(yè)技能及經(jīng)驗(yàn)，確信被保薦人的全體董事充分了解其作為創(chuàng)業(yè)板上市公司董事應(yīng)遵循的法律、法規(guī)及相關(guān)責(zé)任；（六）代表被保薦人報送股票發(fā)行上市申請文件并負(fù)責(zé)與中國主導(dǎo)監(jiān)會和交易所進(jìn)行溝

(seven) other sponsor responsibilities stipulated by the CSRC.

The remaining time of sponsors' stock listing and the following two accounting years should bear the following sponsor responsibilities: (1) according to the industry's recognized business standards, moral standards and diligent and conscientious spirit, it shall provide the sponsors with professional guidance and abide by relevant laws, regulations and relevant rules of the exchange, and guide their standardized operation; (two) urge the sponsors to strictly fulfill the business development goals, funds raised and other obligations undertaken by the public disclosure documents; and (three) urge and guide the sponsors to disclose the information in a truthful, accurate, complete and timely manner in accordance with relevant laws, regulations and rules of the Listing Rules of the exchange. Eighth sponsors are being arrested.

(four) earnestly examine all the public disclosure documents recommended by the sponsor, and make sure that they comply with the relevant provisions of the rules of slope exposure; while the "Five" has the right meaning for the authenticity, accuracy and completeness of the documents disclosed by the sponsors, it should be pointed out and verified by the sponsors.

When finding major problems, report them to the CSRC and the stock exchange in a timely manner.

The six representatives represent the sponsors to communicate with the CSRC and the exchanges to participate in all formal talks between the sponsors and the China Securities Regulatory Commission and the stock exchange. (seven) other sponsor responsibilities stipulated by the CSRC.

In order to clarify the rights and obligations of the sponsor and the sponsor, the ninth parties should make relevant agreements on the sponsorship issue and make an agreement on the rights and obligations of the two parties and the sponsorship fees.

Tenth sponsors should appoint at least two business people who have more than three years' experience in securities business to sponsor a company.

The sponsor should establish an appropriate internal control system to ensure that the business personnel are relatively stable and diligent and conscientious.

The sponsor should establish a confidentiality system within the company to ensure that the information between the sponsors and other departments is segregated.

Eleventh securities companies under the following circumstances shall not accept the employment of the sponsors and engage in Sponsorship: (1) securities companies hold more than seven percent of the sponsors, or one of their top five shareholders; and the latter is held by the sponsors who are more than seven percent of the securities company or one of their top five shareholders; there are other significant relationships between the securities company and the sponsor.

The twelfth sponsors should establish a sponsor's work file and keep it for five years. The CSRC can read the sponsor's archives at any time from the date of the completion of the recommendation.

The thirteenth sponsors shall not disclose or disclose the contents of the relevant documents until the public disclosure documents of the sponsors are published according to law.

The sponsors shall not use the information of the sponsors to directly or indirectly seek benefits for the company or others.

When the sponsor and his business personnel buy and sell the sponsors' stocks within the time limit for sponsorship, they shall report to the CSRC and the stock exchange within one day from the date of purchase and sale.

In the fourteenth period stipulated in the interim measures, sponsors and sponsors shall not rescind the sponsorship agreement except for special reasons.

Within three days after the lifting of the sponsorship agreement, the sponsor shall publicly disclose the information in the newspapers and periodicals designated by the CSRC, and explain the reasons for the cancellation of the sponsorship agreement, and report it to the CSRC and the stock exchange for the record.

Fifteenth sponsors must employ a new sponsor within three months after the lifting of the sponsorship agreement, otherwise the stock will be suspended, and the new sponsor will be responsible for sponsorship from the date of succession.

(Sixteenth) if the sponsor has violated these Provisions within the prescribed time limit, the CSRC will take the following penalties according to the seriousness of the case: (1) to inform the critics; (two) to make public criticism; (three) to warn the public; (four) to confiscate the illegal gains; (five) to pay the penalty; and to suspend the sponsor's qualification; (5) to cancel the sponsor's qualification; the seventeenth sponsor shall not carry out the new sponsor business during the time of the suspension of the sponsor's qualification, but can still engage in the underwriting business of the stock. Ditto

If the sponsor is cancelled the sponsor's qualification, he must stop the sponsorship business of all the start-up enterprises, but he can still engage in the underwriting business of the stock.

The fourth interim rules of the eighteenth chapters of the other two sections are explained by the China Securities Regulatory Commission.

The nineteenth Interim Measures shall be implemented on the date of promulgation.