Important News Alert
The China Securities Regulatory Commission formulated and issued the Guidelines for the Application of Regulatory Rules - Beijing Stock Exchange No. 1: Regulatory Guidelines for Companies Listed on the National Equities Exchange and Quotations to Apply for Issuance and Listing on the Beijing Stock Exchange, and the Asset Management Association of China drafted the Guidelines for the Operation of Private Securities Investment Funds, and officially released Huawei's net profit attributable to the parent company in the first quarter of the year was 19.649 billion yuan, a year-on-year increase of 564.04%
Financial news
1. The Political Bureau of the Central Committee of the Communist Party of China held a meeting on April 30 to analyze and study the current economic situation and economic work.
The meeting put forward clear requirements for monetary policy, fiscal policy, real estate and other contents that have attracted the attention of investors. Among them, the meeting emphasized that the policy measures to study and digest the stock of real estate and optimize the incremental housing should be studied as a whole, and the new model of real estate development should be built to promote the high-quality development of real estate.
2. On April 30, the China Securities Regulatory Commission reported that the China Securities Regulatory Commission revised the "List of Random Items for Random Inspections of the China Securities Regulatory Commission" (hereinafter referred to as the "List"). Among them, the random inspection ratio of item 1 "inspection of the first enterprise" listed in the annex to the list is revised from "the proportion of random lottery is 5%" to "the proportion of random lottery is 20%".
3. On April 30, the Shanghai and Shenzhen Stock Exchanges officially issued 9 supporting business rules, including the Rules for the Review of Stock Issuance and Listing.
Specifically, there are three categories: first, six issuance and listing review rules, namely the review rules for stock issuance and listing, the review rules for major asset restructuring, the administrative measures for the listing review committee and the merger and reorganization review committee, the interim provisions on the issuance and listing declaration and recommendation of enterprises on the science and technology innovation board/gem, as well as the guidelines for the acceptance of application documents and on-site supervision. The second is the issuance and underwriting rules, that is, the guidelines for the concerns of investment value research reports. The third is the two continuous regulatory rules, namely the listing rules of the Main Board, the Science and Technology Innovation Board, and the Growth Enterprise Market.
4. On April 30, the website of the Beijing Municipal Commission of Housing and Urban-Rural Development issued the Notice on Optimizing and Adjusting the Housing Purchase Restriction Policy in the City, proposing that on the basis of the implementation of the existing housing purchase restriction policy, residents who already own housing that have reached the purchase limit will be allowed to purchase a new house outside the Fifth Ring Road (including newly built commercial housing and second-hand housing).
5. Under the guidance of the China Securities Regulatory Commission, the Asset Management Association of China drafted the Guidelines for the Operation of Private Securities Investment Funds, which was officially released on April 30.
Quick Takeaways:
The initial paid-in scale of funds raised by a private securities investment fund shall not be less than 10 million yuan, and the above-mentioned paid-in scale requirements shall not be circumvented by means such as short-term redemption of fund shares by investors.
If the average daily net asset value of a private securities investment fund in the previous year is less than 5 million yuan, or the net asset value of the fund is less than 5 million yuan for 60 consecutive trading days, the subscription shall be stopped and disclosed to investors within 5 working days;
Open-ended private securities investment funds are open for subscription and redemption at most once a week, and each opening shall not exceed 2 days.
The fund contract shall stipulate a lock-up period of not less than 3 months or a short-term redemption fee arrangement corresponding to the holding period of the fund shares, and the redemption fee collected shall be attributed to the fund property. Where a private equity manager and its employees follow a private securities investment fund managed by the capital manager, the lock-up period for their shares shall not be less than 6 months.
A single private securities investment fund investing in a fund with the same asset shall not exceed 25% of the fund's net assets. The funds invested in the same asset by all private securities investment funds managed by the same private fund manager shall not exceed 25% of the assets.
In principle, open-ended private securities investment funds do not set up early warning lines and stop-loss lines.
6. The China Securities Regulatory Commission reported on April 30 that the China Securities Regulatory Commission recently formulated and issued the "Guidelines for the Application of Regulatory Rules - Beijing Stock Exchange Class No. 1: Guidelines for the Guidance and Supervision of Listed Companies on the National Equities Exchange and Quotations System for Listing on the Beijing Stock Exchange", which for the first time in the form of guidelines for the application of regulatory rules, systematically standardizes the guidance and supervision of companies listed on the New Third Board through the "layer by layer" path of listing on the Beijing Stock Exchange.
The "Counseling Guidelines of the Beijing Stock Exchange" strengthens the linkage between counseling supervision and continuous supervision, strengthens the "gatekeeper" responsibility of intermediaries, and strengthens the integrity and compliance of the "key minority". Highlight the orientation of supporting the good and limiting the inferior, combine the counseling supervision with the company's performance, optimize the counseling period arrangement, balance the intensity and cost of supervision, combine the counseling supervision with on-site inspection, optimize the guidance and supervision methods, improve the convenience of the supervision process, combine the counseling supervision with the optimization of services, and optimize the securities market knowledge testing process.
7. The China Securities Regulatory Commission reported on April 30 that in order to implement the "Several Opinions of the State Council on Strengthening Supervision and Preventing Risks and Promoting the High-quality Development of the Capital Market" and "Opinions on Strictly Controlling the Access to Issuance and Listing and Improving the Quality of Listed Companies from the Source (Trial)", the China Securities Regulatory Commission revised the "Guidelines for the Evaluation of Scientific and Technological Innovation Attributes (Trial)" (hereinafter referred to as the "Guidelines"), which will be implemented from the date of promulgation.
The revised Guidelines moderately increase the requirements for R&D investment, the number of invention patents and the compound growth rate of operating income of enterprises to be listed on the Science and Technology Innovation Board, aiming to guide science and technology enterprises to pay more attention to scientific research investment and industrialization of scientific research results, and promote the further improvement of the quality of the declared enterprises.
8. On April 30, the People's Bank of China and the State Administration for Market Regulation issued the Measures for the Administration of Beneficial Owners. The Administrative Measures implement the relevant requirements of the Regulations of the People's Republic of China on the Administration of Registration of Market Entities, and make detailed provisions on the filing and management of beneficial owner information.
9. According to the official website of the Tianjin Municipal Commission of Housing and Urban-Rural Development on April 30, the Tianjin Municipal Commission of Housing and Urban-Rural Development and other three departments recently issued the "Notice on Further Optimizing the Real Estate Regulation and Control Policy" to adapt to the new situation of major changes in the relationship between supply and demand in the real estate market, further adjust and optimize the real estate policy, and better meet the needs of residents for rigid and improved housing. It is mentioned that the housing purchase restriction policy will be further optimized. In order to better meet the needs of residents for improved housing, the "Notice" clarifies that residents with household registration in the city who purchase a single set of newly built commercial housing of more than 120 square meters in the six districts of the city will no longer verify their qualifications for purchasing houses.
Company News
1. Jingyu Environment: On April 30, a reporter from China Securities Journal learned that because Jingyu Environment and related responsible persons deliberately concealed the signing of VAM agreements with investors in the IPO application process, the Shenzhen Stock Exchange imposed a disciplinary punishment on Jingyu Environment for three years for not accepting the issuance and listing application documents submitted by it and imposed a public reprimand.
It is worth noting that the "qualification penalty" issued to Jingyu Environment this time is the first disciplinary punishment under the Shenzhen Stock Exchange registration system to temporarily refuse to accept documents for IPO project issuers. At the same time, a number of actual controllers, directors, supervisors, intermediaries and a number of signatories of the company are subject to regulatory accountability.
2. CICC: A reporter from the China Securities Journal learned from the website of the Beijing Securities Regulatory Bureau on April 30 that the Beijing Securities Regulatory Bureau has decided to order China International Capital Corporation Limited (CICC) to increase the number of compliance inspections.
According to the Beijing Securities Regulatory Bureau, CICC had transactions between its own and investment advisory accounts, inadequate management of conflicts of interest, imprudent conduct of over-the-counter options business, inadequate management of its subsidiaries' business and investment behavior, and non-standard corporate governance. According to the reporter's incomplete statistics, this is the fourth time that CICC has been named by regulators this year, and the second time it has been named by regulators in five days.
3. Vanke: On the afternoon of April 30, Vanke held its 2023 Annual General Meeting of Shareholders. At the meeting, Yu Liang, chairman of the board of directors of Vanke, said that the company has formulated a package of "slimming and fitness" to coordinate debt reduction and high-quality development, and adjust the financing model to degrade risks by firmly "slimming down". Yu Liang said that in the future, Vanke will focus on the three main businesses of comprehensive residential development, property services and rental apartments, get back on a sustainable track, and continue to lead in the new stage of real estate development.
4. Huawei: On April 30, Huawei Investment Holding Co., Ltd. disclosed its first quarter 2024 report. In the first quarter, the company achieved operating income of about 178.451 billion yuan, a year-on-year increase of 36.66%, and the net profit attributable to the parent company was 19.649 billion yuan, a year-on-year increase of 564.04%.
5. China Nuclear Titanium Dioxide: The company announced on April 30 that Wang Zelong, the actual controller of the company, received the administrative penalty decision issued by the China Securities Regulatory Commission. The China Securities Regulatory Commission (CSRC) has conducted an investigation and legal review of Wang Zelong, Hong Haowei, CITIC CSI, CITIC Securities, Haitong Securities, and Han Yuchen on suspicion of transferring shares in violation of restrictive provisions, and the case has now been concluded.
The China Securities Regulatory Commission decided to confiscate a total of 60.638 million yuan of illegal gains and impose a fine of 72.5 million yuan on Wang Zelong, 14.1939 million yuan of illegal gains and a fine of 7 million yuan on Hong Haowei, a total fine of 46.5 million yuan on CITIC and CSI, a total of 1.9107 million yuan and a fine of 23.25 million yuan on CITIC Securities, a total of 789,400 yuan of illegal gains and a fine of 6.975 million yuan on Haitong Securities, and a total fine of 775,000 yuan on Han Yuchen.
6. Hengrun shares: announced on the evening of April 30 that Cheng Lixin, the company's former chairman and second largest shareholder, received the "Notice of Case Filing" issued by the China Securities Regulatory Commission on April 29, and the China Securities Regulatory Commission decided to file a case against it because of its suspected market manipulation and insider information trading. Cheng Lixin has recently resigned from the board of directors of the company, chairman (legal representative), chairman of the strategy committee of the board of directors, and member of the nomination committee of the board of directors, and will no longer hold any position in the company after his resignation. This investigation is an investigation of the new individual and will not have a significant impact on the operation of the company's board of directors and the company's daily business activities.
7. Exploration shares: On the evening of April 30, the company announced that the company received a notice from the family of Zhang Lin, chairman of the company, that Zhang Lin's family belonged to the notice issued by the Guiyang Municipal Supervision Commission on April 30 that Zhang Lin was detained and placed on file for investigation. Zhang Lin was temporarily unable to perform the duties of the chairman of the board of directors during the period of retention in custody and the filing of the case for investigation, and according to the provisions of the Articles of Association, Qi Guirong, vice chairman of the company, performed the duties of the chairman of the board of directors of the company and the duties of the relevant committee members of the board of directors of the company. As of the disclosure date of this announcement, the company's production and operation management is normal.
8. Joy Zhixing: On April 30, the company announced that the company received a notice from Luo Yinhao's family that Luo Yinhao was taken compulsory measures by the Qingdao Municipal Public Security Bureau, and related matters are pending further investigation by the public security organs. Luo Yinhao is one of the actual controllers of the company, and he has resigned as the company's director and general manager on September 9, 2022, and has not held an important position in the company since then, and his personal matters will not affect the company's daily production and operation activities. The shares of the company directly or indirectly held by Luo Yinhao are still in the lock-up period, there is no share pledge, and his personal matters do not affect the stability of the company's control. At present, the company's daily operations are normal, and the company's board of directors and management will ensure that the company and various business activities are carried out normally.
9. Zuoli Pharmaceutical: It was announced on April 30 that Lu Xiumei, the spouse of Ma Aihua, a senior manager of the company, bought and sold the company's shares from October 23, 2023 to April 22, 2024, constituting short-term trading. As of the disclosure date of the announcement, Lu Xiumei has handed over all the proceeds of this short-term transaction to the company.
10. Kweichow Moutai: It was announced on the evening of April 30 that Ding Xiongjun applied for resignation from the company's chairman, director and corresponding positions in the special committee under the board of directors due to work adjustments. According to the relevant regulations, Ding Xiongjun's resignation will take effect when the resignation report is delivered to the board of directors.
Reporter: Ya Wenhui Editor: Zhang Lijing Proofreader: Jiao Yuanyuan
Producer: Wang Zhuying Issued by: Sun Hong
