Regulators Investigate The Epidemic Situation Comprehensively And Postpone The Debate.

The impact of the epidemic on the capital market is being watched by regulators.

Twenty-first Century economic report reporter learned that, in the past week, regulators launched a comprehensive epidemic impact investigation on listed companies, and even in the IPO feedback problem, there were also special issues related to the epidemic.

In addition, another difficult problem under the influence of the epidemic is the progress of the 2019 annual report disclosure, which is also concerned by the investment community. The number of affected enterprises is unable to be disclosed at the appointed time, or can not be disclosed before the deadline. If the problem is to be postponed for a long time, the market urgently needs a solution.

Another difficult problem under the influence of the epidemic is the progress of the 2019 annual report disclosure, which is also concerned by the investment community. Gan Jun system

Comprehensive investigation of the impact of the epidemic

According to the reporter's understanding, the exchange level has arranged for the front-line supervisors to touch the impact of the epidemic on the listed companies during the Spring Festival holiday. However, from the development of the epidemic situation at that time, we knew only a few basic situations, and could not fully grasp the overall impact of the epidemic on the level of the listed companies.

This week, the region continued to resume work, and the capital market remained stable for two weeks. Regulators needed to more accurately assess the extent of the impact of the epidemic at the level of the listed company.

For example, the Shanghai Stock Exchange put forward the need to strengthen the risk management of listed companies. First, organize the strength to arrange the resumption of production and reproduction of listed companies, understand the impact of the epidemic on the production and operation of listed companies, and understand the reasons for the failure to resume work and the actual difficulties faced by them.

After understanding the situation, the Shanghai Stock Exchange will conduct an in-depth analysis based on the actual situation, and aim at the difficulties faced by the listed companies, such as reemployment, logistics and capital flow.

In fact, the reporter learned that such an assessment is not limited to the level of listed companies. Regulators have set up related issues for the proposed IPO and new three board enterprises.

The reporter has learned that the SFC has asked the broker to supplement the impact of the outbreak on the issuer, including the influence and specific performance, time expectation, current and future business and financial data, the possible degree of change in operating performance, and whether there is a serious continuing operation problem in the IPO company's feedback response.

The new three board company requires the company to fully assess and disclose the economic impact of the epidemic on the company's production and operation, business performance, contract performance and financial status, combined with the development of its subdivision, and if the company has significant adverse effects, it should disclose the major issues. In addition, please sponsor the brokers to express their views on the impact of the above epidemic on the company's ability to continue operation.

In addition, the market has been highly concerned about the impact of the outbreak of the IPO trial rhythm, worried about whether the IPO trial rhythm will be suspended.

However, the SFC has made repeated statements in the past two weeks, except that the IPO issue has been normalized. According to Yan Qingmin, vice chairman of the SFC, that is, the normal issuance of approvals, the progress of the audit is normally pushed forward, and the permit is accepted normally.

According to the combing of reporters, the number of companies that have been approved by the trial committee since 2019 but not yet received approval is not small. As of February 17th, the number of enterprises that had not obtained approval had exceeded 50 by excluding the companies.

This means that even if the trial will not be resumed within half a month, the pace of issuing new shares will not be greatly affected by the fact that there are no more than three enterprises issued weekly.

Is there any delay in the disclosure of information?

In addition to the concerns of IPO companies, another major concern of the market is the issue of information disclosure in annual reports.

In the face of the deadline for the disclosure of annual reports in 2019 April 30th, there is still no definite solution at the official level. In the market, there are also many views on how to deal with the information disclosure of enterprises affected by the epidemic.

The current situation is that the listed companies and intermediaries are affected by the epidemic. The audit work under the line can not be carried out, and online auditing can not be completed independently. In such a situation, all parties in the market hope that regulators can clarify whether the deadline for the disclosure of annual reports is postponed.

The public secretaries of the vertical secretaries group recently made a questionnaire survey on the impact of the epidemic on the 2019 annual report.

According to the reporter's understanding, the questionnaire received a total of 1812 valid responses. One of the questions was, "whether the epidemic caused the audit to fail to carry out the plan", 93% of the companies chose to postpone the audit admission time, 4% of the questionnaires had no influence on the audit, and another 2% were to replace the accounting firms.

And there are many viewpoints in the market. Some view is that qualified enterprises can uniformly postpone the deadline for disclosure until June 30th, while others believe that enterprises can apply for themselves. Regulators should not make special arrangements, that is, special operations, so that the market can disclose the annual reports in 2019.

Cui Yanjun, a founder of the three board listed companies, told reporters: "listed companies, listed company, auditing institutions and so on are expected to postpone disclosure because of limited auditing. However, investors and other annual report readers want to see the annual report as early as possible, so as to facilitate investment decisions. The regulatory authorities should assess the situation and make decisions as early as possible.

As far as the information is released, regulators are also discussing countermeasures. In February 13th, the CPA issued special tips to the accounting firms, which indicated that the CPA was in close communication with the relevant departments and sent letters to the relevant departments for the purpose of studying the extension of the annual report.

The Shanghai and Shenzhen Stock Exchange also issued a notice that listed companies are not expected to disclose the 2019 annual report or the first quarter 2020 report in the statutory disclosure deadline (April 30, 2020) if they are affected by the epidemic. Please contact the regulatory department of this company to inform the relevant circumstances.

However, there is no definite solution at present. Even at the exchange level, the company can not give a clear answer. It is more that the company does its best to advance the disclosure of the annual report.

Reporters recently learned from the securities dealers, the National SME share transfer system has issued a notice to all the organizers.

The circular pointed out that the disclosure of annual reports within four months after the end of the accounting year is clearly stipulated in the securities law. If the relevant departments do not make any other arrangements, the company shall disclose the annual report according to the statutory time limit. Judging from the current statistics, some listed company are affected by the epidemic situation, and the audit and compilation work of the annual reports has been postponed. Please sponsor the broker to supervise and urge the listed company to communicate and coordinate with the audit institutions in a timely manner after the resumption of work, and strive to promote the audit of financial reports and the compilation of annual reports. If the listed company is unable to disclose on schedule due to special reasons, it should issue a notice of delayed disclosure in a timely manner and pay attention to the retention of relevant evidence leading to the delay.

The meaning of the notice of the national share transfer system is that the level of share transfer system can not decide whether the enterprise can postpone the disclosure of the annual report. I believe the Shanghai and Shenzhen stock exchanges are facing similar situations, and we hope that relevant departments can have a clear solution as soon as possible. " A small and medium-sized brokerage firm in Beijing area told reporters.

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