The Beijing Stock Exchange formulates a new regulation of dividend repurchase on Friday (December 22), which mentioned that the existing profit during the reporting period decreased by more than 50%year -on -year.Purchase supervision arrangements, strictly prevent the "flicker" repurchase.
Comprehensive Surging News and Beijing Daily reported that in order to further regulate the division of equity and repurchase of listed companies and promote the level of return of investors, the Beijing Stock Exchange formulated continuous supervision of listed companies in Beijing Stock ExchangeGuide No. 10 — equity distribution (hereinafter referred to as rights and interest distribution guidelines), revised the continuous supervision guidelines of the Beijing Stock Exchange's listed company No. 4 — share repurchase (hereinafter referred to as shares repurchase guidelines), and supported relevant business guidelines.Related rules will be implemented from December 22, 2023.
The order of equity distribution is designed to improve the normalized dividend mechanism of listed companies, while strengthening the supervision of abnormal dividends and high transfer.The Beijing Stock Exchange stated that listed companies are encouraged to actively divide them.On the one hand, companies whose profitable or financial investment but not reaching a certain percentage of dividends are required to fully disclose the reasons, use uniplied profits, and to enhance the measures intended to return investors.Procedures encourage the company to increase the frequency of cash dividends.
The new regulations will increase the constraints of unusual high -proportion dividends.For companies with high asset -liability ratios and poor cash flows but high -proportion of dividends, they are required to fully disclose the rationality of the cash dividend scheme and the impact on the company's production and operation.
The new regulations will also strengthen the supervision of high transfers.Incorporate more than 10 shares per 10 shares into the scope of high -delivery transfer supervision, link high transfers to the growth of performance growth, restrictions on sale stocks, and reduction of holdings, etc.need.During the reporting period, net profit decreased by more than 50%year -on -year, and it was not allowed to send high.
The new regulations also require strengthening the repurchase supervision arrangement to prevent the "flicker" repurchase.The share repurchase guidance clearly states that "if the repurchase is not implemented in accordance with the repurchase report" will be depending on the plot, and corresponding regulatory measures are taken to listed companies and related parties.
The Bei Stock Exchange stated that the information disclosure documents and application documents of listed companies and related information disclosure obligations were reviewed. If there is a problem, they can be required to explain and open inquiries to require listed companies to request listed companies to request listed companiesAnd related information disclosure obligations, financial consultants, and other securities service agencies to explain, explain, correct, and supplement them. Relevant subjects should respond in time and ensure the real, accurate and complete of the recovery content.
The Bei Stock Exchange further pointed out that if listed companies and related entities have violated the regulations or fail to implement the repurchase in accordance with the repurchase report, the Beijing Stock Exchange can see the listed company and related related plots and related related information on the listed company and related related.Responsible subjects take work measures, self -discipline supervision measures or disciplinary sanctions.If it is suspected of violating the laws and regulations and the relevant provisions of the China Securities Regulatory Commission, it will be reported to the CSRC for investigation and punishment.
