SFC: Registration System And Audit System Are Not Very Different From &Nbsp; Coordinating The Reduction Of Dividends Costs.

The SFC has no interest of its own.

The official said, in fact, the stock market has its inherent operating rules.

As a regulatory authority, the SFC's responsibility is to maintain the principle of openness, fairness and fairness in the market and establish a good competition order.

Apart from the interests of the people, the interests of the state and the interests of the vast majority of investors, the SFC has no interest in itself.

The SFC will continue to promote open and pparent market regulation, improve the internal mechanism of stock market, reduce unnecessary administrative intervention, and foster healthy market culture.

Recently, the SFC has identified three priorities: first, improving the fair competition order in the market and protecting the legitimate rights and interests of investors; second, improving the capability of serving the real economy, especially its weak links; and third, supporting technological innovation and cultural progress.

In the construction of multi-level market system, the architecture design of OTC, OTC, private equity and other markets should focus on the characteristics of knowledge and technology innovation enterprises, modern agricultural enterprises and small micro enterprises, and make targeted institutional arrangements, so that innovative enterprises with different characteristics can be supported by capital market, so as to better promote the pformation of technological potential into real productive forces.

Talk about

Do not avoid all problems left over by history.

Some netizens have called for "the policy of clearing, reforming and reorganizing related to the old three boards as soon as possible. We really can't wait. In the past 10 years, when will the old three board stocks have the opportunity to reform and pfer the shares?"

The official responded that the old three boards mainly include the original NET, STAQ systems listed company and delisting companies. The situation is quite complicated, and the relevant policies are being studied, and will be announced as soon as possible after the policy is clear.

The SFC takes no evasive attitude towards all problems left over by history, and the proposal to establish a pfer board mechanism is also very reasonable. The key is to have conditions.

There is little difference between registration system and audit system.

Some netizens suggest: "prepare for registration as soon as possible, but require all companies to apply for listing must first undertake a necessary condition, that is, if they find false reports or deceptive information exist, they must immediately withdraw from the market without any conditions, and compensate for the loss of 5-10 times the shareholders."

The person in charge said

The main content of the IPO system reform is centered on information disclosure, strengthening capital constraints, market constraints and integrity constraints.

The SFC should conduct a compliance review, and issuers, intermediaries and investors should return to their duties.

We should shift the focus of review from the profitability of listed companies to protect the legitimate rights and interests of investors.

We need to accelerate the development of multi-level equity and bond markets and gradually change the situation of "a thousand armed forces across a single timber bridge".

Actively coordinate and reduce the cost of dividends

The person in charge said that regarding the issue of tax deduction,

He said that when the accumulated net profit was positive but the company did not share dividends, the SFC's agencies had already conducted a thorough investigation.

The SFC will urge the company to fully disclose the specific reasons for its unpaid dividends, unallocated funds and expected earnings, and the fact that the actual earnings do not match the expected revenue.

Companies that fail to pay dividends according to their commitments and those who fail to perform their duties for a long time must strengthen supervision and control, help enterprises to firmly establish the concept of return shareholders, and continuously promote enterprises to improve their corporate governance.

When it comes to delisting, the official said that after introducing the gem delisting method, the SFC is concentrating on improving and perfecting the main board delisting system, striving to maximize the protection of investors' legitimate rights and interests, and establishing a mechanism and atmosphere jointly recognized by all parties concerned.

First, we should improve the delisting standards of listed companies; two, we should carry out institutional reform so as to avoid stopping and not retiring; three, we need to improve the accountability mechanism and form a foundation conducive to risk settlement and peaceful retreat.

He said that the implementation of the delisting system is in favor of everyone in theory. When it comes to enterprises, localities and investors, it will encounter resistance. In addition to the prudent operation of regulators and exchanges, it needs understanding, support and cooperation from all sides.

It is necessary to implement the delisting system in order to give full play to the market survival of the fittest, optimize the structure of Listed Companies in competition and protect the interests of small and medium investors from the source.

In recent years, regulators have repeatedly reminded investors not to listen to the "theme" and to listen to the news, and to stir up small stocks. The aim is to create an external environment conducive to delisting.