Optimizing Shareholder Information Disclosure Channels and Deepening Capital Market Service

date: 2018-2-5

In order to further perfect the listed companies shareholder information disclosure platform, improve the efficiency of shareholder disclosure and protect legitimate rights and interests of investors, the Shenzhen Stock Exchange (“SZSE”) has made amendments to the Guidance for Shareholder Business of Listed Companies (hereafter referred to as “the original Guidance”). This Guidance was released and came to effect as of today.


On 30th December 2016, “shareholder business section” was launched by the SZSE, providing a direct channel for shareholders of listed companies to disclose the change of equity ownership by themselves. For over a year, the business section has been in steady operation with multiple shareholders registered as users and disclosing relevant announcement proactively. This measure has played an important role in maintaining legitimate rights and interests of shareholders and protecting investors’ right to know. The SZSE made amendments to the original Guidance in time to better adapt to the new circumstances and needs emerged in practice.


The amendments to the original Guidance focus on three aspects mainly. Firstly, the disclosure scope of shareholder information has been expanded. Based on relevant business concerning equity changes, shareholders’ general meetings and other business recognized by SZSE were added in the platform to ensure that shareholders can disclosure relevant announcements of shareholders’ general meetings by themselves via business section, and push forward the listed companies to improve their corporate governance level. Secondly, the SZSE enlarged and specified registrable user types. Shareholders and its concerted party can disclose relevant announcement on the business section after their registration. In doing so, the accuracy, completeness and validity of the disclosure have been improved. Thirdly, the SZSE further perfected the registration file content and application procedure specified the list for registration files and optimized the application and review procedure of additional permissions by shareholder users.


According to relevant persons in charge, the newly revised Guidance has further strengthened the initiative disclosure behavior of shareholders by maintaining legitimate rights and interests of shareholders and protecting investors’ right to know. Over the past few years, the SZSE has constantly deepened the innovation and reform in information disclosure supervision, made positive achievements in promoting information disclosure express, implementing industry supervision requirements and opening self disclosure channels for shareholders. Next, the SZSE will earnestly implement the spirit of the 2018 work conference of China Securities Regulatory Commission system, continue to optimize information disclosure regulations, urge relevant parties to fulfill information disclosure obligation voluntarily to deepen the service ability of the market and facilitate the steady and healthy development of Shenzhen’s multi-layer capital market.