On the 27th, the Beijing stock exchange issued the notice on doing a good job in the disclosure of the annual report of Listed Companies in 2021, made arrangements for the matters that listed companies, sponsors and accounting firms should pay attention to in the preparation and submission of annual reports, and issued relevant templates such as the annual report and summary of listed companies of the Beijing stock exchange to facilitate the operation of market entities.
Beijing stock exchange will open the annual report reservation system from January 4, 2022. A listed company shall make an appointment for the disclosure time of the annual report before January 14, 2022. The listed company shall complete the disclosure of the annual report before April 29, 2022, and the disclosure time shall not be later than the disclosure time of the annual report of the parent company and the holding subsidiaries within the scope of the consolidated statements.
Annual report is a direct reflection of the operation, financial status and corporate governance of Listed Companies in the past year. It is an important link and core content of information disclosure of listed companies. On October 30, the CSRC issued the standards for the content and format of information disclosure by companies offering securities to the public No. 53 – annual report of listed companies of Beijing stock exchange (hereinafter referred to as the annual report standards), which standardized the preparation and disclosure of annual reports of listed companies of Beijing stock exchange.
Beijing stock exchange said that in order to implement the relevant requirements such as the annual report standards and the stock listing rules of Beijing stock exchange (for Trial Implementation), Beijing stock exchange has formulated relevant templates such as annual report and abstract, which are issued together with the notice, so as to further standardize the preparation and disclosure of annual reports of listed companies on Beijing stock exchange and improve the effectiveness of information disclosure.
First, refine the disclosure requirements of the annual report. The disclosure requirements of the annual report of the Beijing stock exchange are more detailed and comprehensive. Compared with the (original) selection layer, the disclosure requirements for quarterly financial data, entrusted financial management or high-risk entrusted financial management with significant single amount, deposits and loans with related financial companies are increased, so as to facilitate investors to fully understand the operation and investment of listed companies and improve the effectiveness of information disclosure.
The second is to add the disclosure requirements for the summary of the annual report. According to the annual report standards, a listed company shall disclose the summary of the annual report together with the disclosure of the annual report. The 2021 annual report summary template contains relevant important information in the annual report, such as the company’s main financial data and indicators, main business conditions, major changes in operation during the reporting period, shareholders’ shareholding, annual report audit opinions, equity distribution, etc., so as to facilitate investors to quickly understand the company’s basic information and help investors make investment decisions.
Third, clarify the industry information disclosure requirements. Companies in software and information technology services, pharmaceutical manufacturing, computer, communication and other electronic equipment manufacturing, professional technical services, environmental governance, lithium battery, chemical industry, retail, construction and other industries shall disclose industry information in accordance with the relevant requirements of industry information in the template of annual report, and encourage companies in other industries to voluntarily disclose industry information.
Fourth, clarify the disclosure requirements of special governance self inspection. According to the requirements of special self-examination and normative activities of corporate governance in the early stage, listed companies shall conduct special self-examination and self-regulation on the governance of the previous year, make special disclosure on the relevant situation at the same time as the disclosure of the annual report, and the recommendation institution shall release the special verification report at the same time. To this end, the Beijing stock exchange has formulated a disclosure template to uniformly standardize the company’s self-examination disclosure content and help improve the company’s standardized operation level.
Fifth, remind intermediaries of key concerns. Require the recommendation institution to review before doing good deeds, focus on the authenticity of the company’s performance, governance compliance and standardization of information disclosure, supervise the listed company to do a good job in annual report disclosure, and timely report the company’s special matters; Accounting firms shall strictly comply with the requirements of the practice standards, maintain professional suspicion, fully assess the risk of major misstatement, pay attention to the effectiveness of internal control and financial standardization, pay attention to the audit risks in key areas, and effectively improve the quality of audit services.
Next, the Beijing stock exchange will do a good job in the disclosure and review of the annual report in 2021 in an orderly manner, strengthen the front-line supervision of information disclosure, and improve the quality and efficiency of supervision by relying on scientific and technological supervision; Focus on information disclosure, strengthen the company’s awareness of standardized operation, improve the level of corporate governance, continuously improve the quality of information disclosure, and help the high-quality development of listed companies on the Beijing stock exchange.
(China Securities Journal)
