The Green Channel For "Epidemic Prevention And Control" Financing Has Opened Nearly 30 IPO Queuing Enterprises Or Benefited.

The SFC's measures to support the epidemic prevention and control work have been upgraded again.

Recently, in twenty-first Century, the economic report reporters learned exclusively that the SFC issued a notice to the broker that in order to promote the prevention and control of the epidemic situation, the IPO and refinancing applications of the two types of enterprises meeting the requirements were accelerated. The first category was the enterprises in serious epidemic areas; and the second category was the enterprises in the field of epidemic prevention and control. This is also considered to be a green channel for the SFC to support the epidemic prevention and control work for the related enterprises.

At the same time, another issue closely related to enterprises in serious epidemic areas is information disclosure. In April 7th, when the disclosure window of the annual report window in 2019 was less than a month ago, the SFC issued a notice on the matters related to the audit and disclosure of the current annual reports of listed companies (hereinafter referred to as the "announcement"), and made clear that some companies that were seriously affected by the epidemic could delay the disclosure of the annual report.

"The two targeted arrangements mentioned above can be regarded as the upgrading of the epidemic prevention and control work by the SFC, and it is very important for the relevant enterprises to get the actual support of the capital market policy under the epidemic situation."

Nearly 30 enterprises can take the green channel.

After the notice issued by the SFC's issuing department, the brokerages began to act.

"First, we will ask the broker to sort out the details of the project on hand, and then summarize it." The head of a small and medium-sized brokerage firm in Southern China area told reporters.

A senior broker from Beijing, a security broker, told reporters: "at present, the sorting of rival items is mainly divided into two categories: stock and new ones. At the same time, according to the requirements of the SFC, it is divided into the first category or the second category. Judging from the current combing situation, it is easy to make statistics for the first category of enterprises, that is, the distinction between regions, but the second kinds of enterprises in the field of epidemic prevention and control are more difficult to identify.

According to the public data disclosed by the SFC, in twenty-first Century, the economic news reporters roughly counted the current stock enterprises.

The first is the first category of enterprises, namely, enterprises with serious epidemic situation. According to the communication between journalists and investment bankers, it is generally recognized that the most serious epidemic areas refer to enterprises in Hubei. Data show that there are only 7 enterprises registered in Hubei for IPO queuing, and 3 of them are companies in the enterprise.

In addition to individual industries, it is rather difficult for second types of enterprises to clearly identify whether they belong to enterprises in the field of epidemic prevention and control. According to the data provided by some investment banking departments, the screening of these enterprises is mainly concentrated in the pharmaceutical R & D, pharmaceutical and medical device manufacturing industries. Roughly 20 of the IPO queuing enterprises are currently in the process of screening.

"Second types of enterprises can not be identified. If they are related to epidemic prevention and control, will logistics enterprises be considered, or do they need to work overtime to ensure adequate local materials? Securities companies are relatively conservative in identifying this category. The SFC requires the sponsor to explain the role of the company's main business in the prevention and control of the epidemic, the company's participation in the prevention and control of the epidemic situation, and the correlation between the investment project and the epidemic prevention and control. That is to say, if an enterprise is identified as a disease prevention and control, the intermediary organization needs to go to the regulatory authorities to demonstrate the situation of the enterprise. " The foregoing senior insurance agent pointed out.

In addition, according to the statistics, nearly two enterprises in the refinancing audit channel belong to the above 15 situations, including non-public offering and convertible bonds issuing.

"The significance of refinancing audit acceleration is not so great for enterprises. At present, the progress is very fast, and the whole process from receiving materials to getting approval is basically 3-4 months." Ze Hao investment partner Cao Gang said.

As for the situation of incremental enterprises, some agencies believe that in the short term, the green channel to support the epidemic prevention and control financing audit is of little significance to the newly declared IPO enterprises. The market believes that from this period of time, the implementation of the green channel established by the science and technology board can be seen that there are few enterprises that can quickly enjoy the convenience of this policy.

In addition, whether it is refinancing or IPO, in terms of the size of the current stock enterprises, even if all the projects enjoy the preferential policies of the SFC quickly audited, it will not interfere with the existing refinancing and IPO audit rhythm.

Disclosure of annual reports can be delayed

Financing audit green channel is important, but for many enterprises affected by the epidemic, whether the 2019 annual report can be postponed disclosure is more important.

In the evening of April 7th, the SFC finally made clear the specific arrangements for the annual report affected by the epidemic in 2019, and issued the "announcement". According to the arrangement, the SFC explicitly postpones the disclosure of the annual report to some companies that are seriously affected by the epidemic, and can disclose the main operating results in advance.

"At last, there was a sigh of relief. Since the outbreak of the company, there have been no regular classes. Many basic work has only started in the past two weeks. But before the exchange said that it was still possible to catch up with the 430 window period, now the SFC has made it clear that it can be postponed, and we are much less stressed." Hubei area of a listed company's secretaries told reporters.

It is worth noting that in addition to allowing some enterprises affected by the epidemic to seriously delay the disclosure of annual reports, there are several core messages to be noted.

The first is that the SFC closely monitors the behavior of loopholes in the use of the notice, and stresses the principle of insisting on ensuring quality and putting aside the principle of draping, and strives to disclose the audited annual report according to the regulations before April 30, 2020. At the same time, companies and accounting firms that take advantage of the policy of postpone disclosure, and take advantage of fraud in annual report auditing and disclosure are strictly responsible for checking and following up their responsibilities in the post and in the past, and strictly pursue legal responsibilities in accordance with the law.

Secondly, the delay of annual report is not dragged on, and the SFC also made provisions on the cut-off date in principle. Reporters learned that, within two months after the SFC requested the elimination of the epidemic factors, the company should disclose the audited annual report, not later than June 30th.

For the arrangement not later than June 30th, the SFC related person said: "the deadline for postponed disclosure. Taking into account, on the one hand, the deadline for the disclosure of annual reports has been clearly stipulated in the securities law. On the other hand, there are differences in the level of epidemic prevention and control measures, and the degree of impact on the annual report disclosure of each company and the audit work of accounting firms are also different. Therefore, the "announcement" starts from reality and stipulates that within two months after the elimination of the epidemic factors, the company should disclose the audited annual report, which will be held by the company in accordance with its own actual conditions and seeking truth from facts. At the same time, it stipulates that it should not be later than June 30th. In order to better guide the company in accordance with the principle of "draping away," and actively do a good job in accordance with the law.

?