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| Notice by the Shanghai Stock Exchange of Issuing the Rules Governing the Listing of Stocks on Shanghai Stock Exchange (January 2022 Revision) | | 上海证券交易所关于发布《上海证券交易所股票上市规则（2022年1月修订）》的通知 |
| (No. 1 [2022] of the Shanghai Stock Exchange) | | （上证发〔2022〕1号） |
| All market participants: | | 各市场参与人： |
| For the purposes of thoroughly implementing the policy of "establishment of systems, refraining from intervention, and zero tolerance," improving the friendliness of the rules for the self-regulation of listed companies, and heightening market participants' sense of gain, the Shanghai Stock Exchange (hereinafter referred to as the "Exchange") has revised the Rules Governing the Listing of Stocks on Shanghai Stock Exchange. The Rules Governing the Listing of Stocks on Shanghai Stock Exchange (January 2022 Revision) as revised (see the Annex for details), as deliberated and adopted by the Board of Governors of the Exchange and approved by the China Securities Regulatory Commission ("CSRC"), are hereby promulgated, and shall come into force on the date of promulgation. | | 为深入贯彻落实“建制度、不干预、零容忍”方针，提升上市公司自律监管规则友好度，增强市场主体获得感，上海证券交易所（以下简称本所）对《上海证券交易所股票上市规则》进行了修订。修订后的《上海证券交易所股票上市规则（2022年1月修订）》（详见附件）已经本所理事会审议通过并报经中国证监会批准，现予以发布，并自发布之日起施行。 |
On the date of promulgation, the Rules Governing the Listing of Stocks on Shanghai Stock Exchange (December 2020 Revision) (No. 100 [2020], SSE), the Notice of Conscientiously Implementing the New Securities Law and Effectively Conducting the Work Relating to Information Disclosure of Listed Companies (No. 9 [2020], SSE) and the Implementation Measures of the Shanghai Stock Exchange for the Relisting of Delisted Companies (November 2020 Revision) (No. 102 [2020], SSE) previously promulgated by the Exchange will be repealed. The Notice of Issuing the Rules Governing the Listing of Stocks on Shanghai Stock Exchange (December 2020 Revision) and relevant rules shall remain applicable to the transitional arrangements for risk warnings on, termination of listing of, and other matters concerning the stocks of listed companies.
| | 本所此前发布的《上海证券交易所股票上市规则（2020年12月修订）》（上证发〔2020〕100号）、《关于认真贯彻执行新〈证券法〉做好上市公司信息披露相关工作的通知》（上证发〔2020〕9号）和《上海证券交易所退市公司重新上市实施办法（2020年12月修订）》（上证发〔2020〕102号）同时废止。关于上市公司股票风险警示、终止上市等事宜的过渡期安排仍按照《关于发布＜上海证券交易所股票上市规则（2020年12月修订）＞的通知》和相关规定执行。特此通知。 |
| Annex: Rules Governing the Listing of Stocks on Shanghai Stock Exchange (January 2022 Revision) | | 附件：上海证券交易所股票上市规则（2022年1月修订） |
| Shanghai Stock Exchange | | 上海证券交易所 |
| January 7, 2022 | | 二〇二二年一月七日 |
| Annex | | 附件 |
| Rules Governing the Listing of Stocks on Shanghai Stock Exchange | | 上海证券交易所股票上市规则 |
| (Effective as of January 1998; revised for the first time in May 2000, the second time in June 2001, the third time in February 2002, the fourth time in December 2004, the fifth time in May 2006, the sixth time in September 2008, the seventh time in July 2012, the eighth time in December 2013, the ninth time in October 2014, the tenth time in April 2018, the eleventh time in June 2018, the twelfth time in November 2018, the thirteenth time in April 2019, the fourteenth time in December 2020, and the fifteenth time in January 2022.) | | （1998年1月实施 2000年5月第一次修订 2001年6月第二次修订 2002年2月第三次修订 2004年12月第四次修订 2006年5月第五次修订 2008年9月第六次修订 2012年7月第七次修订 2013年12月第八次修订 2014年10月第九次修订 2018年4月第十次修订 2018年6月第十一次修订 2018年11月第十二次修订 2019年4月第十三次修订 2020年12月第十四次修订 2022年1月第十五次修订） |
| Table of Contents | | 目 录 |
Chapter I General Rules | | 第一章 总 则 |
| Chapter II General Principles and Provisions on Information Disclosure | | 第二章 信息披露的基本原则和一般规定 |
| Section 1 Basic Principles | | 第一节 基本原则 |
| Section 2 General Provisions | | 第二节 一般规定 |
| Section 3 Information Disclosure Management System | | 第三节 信息披露管理制度 |
| Chapter III Management of the Listing and Change of Stocks and Derivatives thereon | | 第三章 股票及其衍生品种的上市与变动管理 |
| Section 1 IPO and Listing of IPO Stocks | | 第一节 首次公开发行股票上市 |
| Section 2 Offering and Listing of Listed Companies' Stocks and Derivatives thereon | | 第二节 上市公司股票及其衍生品种的发行与上市 |
| Section 3 Lifting of Sale Restrictions on Stocks and Derivatives thereon | | 第三节 股票及其衍生品种解除限售 |
| Section 4 Management of Changes in Stocks and Derivatives thereon | | 第四节 股票及其衍生品种变动管理 |
| Chapter IV Corporate Governance | | 第四章 公司治理 |
| Section 1 General Provisions | | 第一节 一般规定 |
| Section 2 Shareholders' General Meeting, Board of Directors and Board of Supervisors | | 第二节 股东大会、董事会和监事会 |
| Section 3 Directors, Supervisors and Senior Officers | | 第三节 董事、监事和高级管理人员 |
| Section 4 Secretary to the Board of Directors | | 第四节 董事会秘书 |
| Section 5 Controlling Shareholders and De Facto Controllers | | 第五节 控股股东和实际控制人 |
| Chapter V Periodic Reports | | 第五章 定期报告 |
| Section 1 Earnings Preannouncement and Preliminary Results | | 第一节 业绩预告和业绩快报 |
| Section 2 Annual Reports, Semi-annual Reports and Quarterly Reports | | 第二节 年度报告、半年度报告和季度报告 |
| Section 3 Profit Distribution and Transfer of Public Reserve into Share Capital | | 第三节 利润分配和资本公积金转增股本 |
| Chapter VI Disclosable Transactions | | 第六章 应当披露的交易 |
| Section 1 Material Transactions | | 第一节 重大交易 |
| Section 2 Day-to-day Transactions | | 第二节 日常交易 |
| Section 3 Related Party Transactions | | 第三节 关联交易 |
| Chapter VII Other Disclosable Material Matters | | 第七章 应当披露的其他重大事项 |
| Section 1 Unusual Price Movement and Clarification of Rumors | | 第一节 股票交易异常波动和传闻澄清 |
| Section 2 Material Matters Related to Convertible Bonds | | 第二节 可转换公司债券涉及的重大事项 |
| Section 3 Merger, Division and Spin-off | | 第三节 合并、分立、分拆 |
| Section 4 Major Litigations and Arbitrations | | 第四节 重大诉讼和仲裁 |
| Section 5 Bankruptcy Matters | | 第五节 破产事项 |
| Section 6 Changes in Accounting Policy and Accounting Estimates and Impairment of Assets | | 第六节 会计政策、会计估计变更及资产减值 |
| Section 7 Others | | 第七节 其他 |
| Chapter VIII Suspension and Restoration of Trading | | 第八章 停牌与复牌 |
| Chapter IX Delisting and Risk Warning | | 第九章 退市与风险警示 |
| Section 1 General Provisions | | 第一节 一般规定 |
| Section 2 Trading-related Compulsory Delisting | | 第二节 交易类强制退市 |
| Section 3 Financial Compulsory Delisting | | 第三节 财务类强制退市 |
| Section 4 Compliance-related Compulsory Delisting | | 第四节 规范类强制退市 |
| Section 5 Compulsory Delisting due to Major Violation of Laws | | 第五节 重大违法类强制退市 |
| Section 6 Delisting Preparation Period | | 第六节 退市整理期 |
| Section 7 Voluntary Delisting | | 第七节 主动退市 |
| Section 8 Other Risk Warnings | | 第八节 其他风险警示 |
| Chapter X Relisting | | 第十章 重新上市 |
| Section 1 General Provisions | | 第一节 一般规定 |
| Section 2 Relisting Application | | 第二节 重新上市申请 |
| Section 3 Relisting Examination | | 第三节 重新上市审核 |
| Section 4 Relisting Arrangements | | 第四节 重新上市安排 |
| Chapter XI Coordination of Domestic and Overseas Affairs | | 第十一章 境内外事务协调 |
| Chapter XII Intermediaries | | 第十二章 中介机构 |
| Section 1 General Provisions | | 第一节 一般规定 |
| Section 2 Sponsors | | 第二节 保荐人 |
| Section 3 CPA Firms | | 第三节 会计师事务所 |
| Section 4 Other Intermediaries | | 第四节 其他中介机构 |
| Chapter XIII Day-to-day Regulation and Dealing with Violations | | 第十三章 日常监管和违规处理 |
| Section 1 Day-to-day Regulation | | 第一节 日常监管 |
| Section 2 Dealing with Violations | | 第二节 违规处理 |
| Chapter XIV Application for Review | | 第十四章 申请复核 |
| Chapter XV Interpretation | | 第十五章 释义 |
| Chapter XVI Supplementary Provisions | | 第十六章 附则 |
| Chapter I General Rules | | 第一章 总 则 |
| 1.1 These Rules are formulated in accordance with the Company Law of the People's Republic of China (hereinafter, the Company Law), the Securities Law of the People's Republic of China (hereinafter, the Securities Law), the Measures on the Administration of Stock Exchanges, and other applicable laws, administrative regulations, rules of competent authorities, and regulatory documents (hereinafter collectively referred to as the "laws and regulations") as well as the Constitution of Shanghai Stock Exchange, for the purposes of regulating the listing of stocks, depositary receipts, corporate bonds convertible into stocks (hereinafter, convertible bonds) and other derivatives (hereinafter collectively, stocks and derivatives thereon), as well as the information disclosure by issuers, listed companies and relevant persons with disclosure obligations, maintaining an orderly securities market, protecting the lawful rights and interests of investors, promoting the improvement of the quality of listed companies, and furthering the sound development of the capital market. | | 1.1 为规范股票、存托凭证、可转换为股票的公司债券（以下简称可转换公司债券）及其他衍生品种（以下统称股票及其衍生品种）的上市行为，以及发行人、上市公司及其他信息披露义务人的信息披露行为，维护证券市场秩序，保护投资者的合法权益，推动提高上市公司质量，促进资本市场健康发展，根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证券法》（以下简称《证券法》）、《证券交易所管理办法》等相关法律、行政法规、部门规章、规范性文件（以下统称法律法规）以及《上海证券交易所章程》，制定本规则。 |
| 1.2 These Rules shall apply to the listing, information disclosure, suspension and restoration of trading, and delisting, etc. of stocks and derivatives thereon listed on the main board of Shanghai Stock Exchange (hereinafter, the Exchange). | | 1.2 在上海证券交易所（以下简称本所）主板上市的股票及其衍生品种的上市、信息披露、停复牌、退市等事宜，适用本规则。 |
| Where China Securities Regulatory Commission (hereinafter, the CSRC) or the Exchange has other provisions on the listing, information disclosure, suspension and restoration of trading or delisting of stocks, depositary receipts, and other derivatives of companies abroad, such provisions shall prevail. | | 中国证券监督管理委员会（以下简称中国证监会）和本所对境外公司的股票、存托凭证及其他衍生品种在本所的上市、信息披露、停复牌、退市等事宜另有规定的，从其规定。 |
| 1.3 An application for listing stocks and derivatives thereon on the Exchange will be subject to the examination and approval of the Exchange. Prior to listing, the issuer shall enter into a listing agreement with the Exchange and specify therein the rights and obligations of both parties and other matters. | | 1.3 发行人申请股票及其衍生品种在本所上市的，应当经本所审核同意，并在上市前与本所签订上市协议，明确双方的权利、义务和其他事项。 |
| 1.4 Issuers, listed companies and their directors, supervisors, senior officers, shareholders or depositary receipt holders, and de facto controllers; acquirers and other parties to equity changes; the relevant parties to major asset restructuring, refinancing, material transactions, and bankruptcy matters, among others; intermediaries and their relevant personnel providing services to the aforementioned parties; and other parties that have relevant obligations with respect to listing, information disclosure, suspension and restoration of trading, delisting and other matters as provided by laws and regulations shall comply with laws, regulations, these Rules and other regulations of the Exchange. | | 1.4 发行人、上市公司及其董事、监事、高级管理人员、股东或者存托凭证持有人、实际控制人，收购人及其他权益变动主体，重大资产重组、再融资、重大交易、破产事项等有关各方，为前述主体提供服务的中介机构及其相关人员，以及法律法规规定的对上市、信息披露、停复牌、退市等事项承担相关义务的其他主体，应当遵守法律法规、本规则及本所其他规定。 |
| 1.5 The Exchange will exercise self-regulation of the parties as specified in Section 1.4 of these Rules in accordance with laws and regulations, the relevant regulations of the Exchange, listing agreements, declarations and undertakings. | | 1.5 本所根据法律法规、本所相关规定和上市协议、声明与承诺，对本规则第1.4条规定的主体进行自律监管。 |
| Chapter II General Principles and Provisions on Information Disclosure | | 第二章 信息披露的基本原则和一般规定 |
| Section 1 Basic Principles | | 第一节 基本原则 |
| 2.1.1 A listed company and the relevant persons with disclosure obligations shall disclose information in a timely and fair manner in accordance with laws and regulations, these Rules and other regulations of the Exchange and shall guarantee that the information disclosed is truthful, accurate, complete, concise, clear, and understandable and contains no misrepresentations, misleading statements or material omissions. | | 2.1.1 上市公司及相关信息披露义务人应当按照法律法规、本规则以及本所其他规定，及时、公平地披露信息，并保证所披露的信息真实、准确、完整，简明清晰、通俗易懂，不得有虚假记载、误导性陈述或者重大遗漏。 |
| For the purposes of these Rules, "relevant persons with disclosure obligations" means the parties that have disclosure obligations, other than listed companies, as specified in Article 1.4 of these Rules. | | 本规则所称相关信息披露义务人，是指本规则第1.4条规定的除上市公司以外的承担信息披露义务的主体。 |
| 2.1.2 The directors, supervisors and senior officers of a listed company shall guarantee that the listed company discloses information in a timely and fair manner and that the information disclosed is truthful, accurate and complete and contains no misrepresentations, misleading statements or material omissions. | | 2.1.2 上市公司董事、监事和高级管理人员应当保证公司及时、公平地披露信息，以及信息披露内容的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏。 |
| If the directors, supervisors and senior officers of the company cannot guarantee the truthfulness, accuracy and completeness of the information disclosed by the company or have any objection to the information disclosed by the company, they shall make a corresponding statement in the announcement and an explanation of the reasons, and the company shall disclose the statement and explanation. | | 公司董事、监事和高级管理人员不能保证公司披露的信息内容真实、准确、完整或者对公司所披露的信息存在异议的，应当在公告中作出相应声明并说明理由，公司应当予以披露。 |
| 2.1.3 The relevant persons with disclosure obligations shall perform disclosure obligations in accordance with relevant regulations, actively cooperate with the listed company in disclosure, and notify the company in a timely manner of matters which have occurred or is intended to occur with a possible significant impact on the trading prices of the company's stocks and derivatives thereon (hereinafter, material matters or material information). | | 2.1.3 相关信息披露义务人应当按照有关规定履行信息披露义务，并积极配合上市公司做好信息披露工作，及时告知公司已发生或者拟发生的可能对公司股票及其衍生品种交易价格产生较大影响的事项（以下简称重大事项或者重大信息）。 |
| If the relevant persons with disclosure obligations disclose information through the listed company, the company shall provide assistance. | | 相关信息披露义务人通过上市公司披露信息的，公司应当予以协助。 |
| 2.1.4 A listed company and the relevant persons with disclosure obligations shall disclose information based on facts or the judgments and opinions derived from facts. Such information shall reflect realities and contain no misrepresentations. | | 2.1.4 上市公司及相关信息披露义务人披露信息，应当以客观事实或者具有事实基础的判断和意见为依据，如实反映实际情况，不得有虚假记载。 |
| 2.1.5 A listed company and the relevant persons with disclosure obligations shall disclose information objectively, by using unequivocal and appropriate language and expressions, with no exaggeration and no misleading statement. | | 2.1.5 上市公司及相关信息披露义务人披露信息，应当客观，使用明确、贴切的语言和文字，不得夸大其辞，不得有误导性陈述。 |
| The company shall disclose forward-looking information and other information in relation to the future operations and financial condition reasonably, cautiously and objectively. | | 公司披露预测性信息及其他涉及公司未来经营和财务状况等信息，应当合理、谨慎、客观。 |
| 2.1.6 When disclosing information, a listed company and the relevant persons with disclosure obligations shall provide complete content, fully disclose information that has a significant impact on the trading prices of the company's stocks and derivatives thereon, and disclose possible material risks, and shall not selectively disclose part of information nor commit material omission. | | 2.1.6 上市公司及相关信息披露义务人披露信息，应当内容完整，充分披露对公司股票及其衍生品种交易价格有较大影响的信息，揭示可能产生的重大风险，不得有选择地披露部分信息，不得有重大遗漏。 |
| Information disclosure documents and materials shall be complete and in the required format. | | 信息披露文件材料应当齐备，格式符合规定要求。 |
| 2.1.7 A listed company and the relevant persons with disclosure obligations shall disclose material information within the time limit specified by these Rules, and shall not arbitrarily choose a point in time for disclosure. | | 2.1.7 上市公司及相关信息披露义务人应当在本规则规定的期限内披露重大信息，不得有意选择披露时点。 |
| 2.1.8 A listed company and the relevant persons with disclosure obligations shall publicly disclose material information simultaneously to all the investors to ensure that all the investors have equal access to the same information, and shall not divulge such information to any entity or individual in advance. | | 2.1.8 上市公司及相关信息披露义务人应当同时向所有投资者公开披露重大信息，确保所有投资者可以平等地获取同一信息，不得提前向任何单位和个人泄露。 |
| 2.1.9 A listed company and the relevant persons with disclosure obligations shall disclose information which is in language descriptive of facts, concise, clear, logical, plain, and understandable, and contains no expressions promotional, advertising, flattering, or defamatory in nature. | | 2.1.9 上市公司及相关信息披露义务人披露信息，应当使用事实描述性的语言，简洁明了、逻辑清晰、语言浅白、易于理解，不得含有宣传、广告、恭维、诋毁等性质的词句。 |
| Section 2 General Provisions | | 第二节 一般规定 |
| 2.2.1 A listed company and the relevant persons with disclosure obligations shall prepare and disclose announcements in accordance with laws and regulations and the relevant regulations of the Exchange, and make the relevant materials available for inspection by the Exchange as required. The company and the relevant persons with disclosure obligations shall not substitute periodic reports for ad hoc reports that shall be disclosed. | | 2.2.1 上市公司及相关信息披露义务人应当按照法律法规及本所相关规定编制公告并披露，并按照规定提供相关材料供本所查验。公司及相关信息披露义务人不得以定期报告形式代替应当披露的临时报告。 |
| The announcements and materials as mentioned in the preceding paragraph shall be in Chinese language. If it is simultaneously accompanied by a text in a foreign language, the person with information disclosure obligations shall ensure that both texts contain the same content. In case of discrepancy between the two versions, the Chinese version shall prevail. | | 前款所述公告和材料应当采用中文文本。同时采用外文文本的，信息披露义务人应当保证两种文本的内容一致。两种文本发生歧义时，以中文文本为准。 |
| 2.2.2 The announcements of a listed company shall be released by the board of directors with the seal of the listed company or of the board of directors affixed thereto, and announcements of the resolutions of the board of supervisors may be issued with the seal of the board of supervisors affixed thereto, unless otherwise provided by laws and regulations or required by the Exchange. | | 2.2.2 上市公司公告应当由董事会发布并加盖公司或者董事会公章，监事会决议公告可以加盖监事会公章，法律法规或者本所另有规定的除外。 |
| 2.2.3 The announcements of a listed company and the relevant persons with disclosure obligations shall be disclosed on the website of the Exchange and via a media outlet that meets the conditions prescribed by the CSRC (hereinafter collectively referred to as the "qualified media outlets"). | | 2.2.3 上市公司及相关信息披露义务人的公告应当在本所网站和符合中国证监会规定条件的媒体（以下统称符合条件的媒体）披露。 |
| The company and the relevant persons with disclosure obligations shall guarantee that the content of the information disclosed is consistent with that of the announcement materials submitted to the Exchange. If the content of the announcements disclosed by the company is inconsistent with the content of the materials provided to the Exchange, the company and the relevant persons with disclosure obligations shall immediately report to the Exchange and make corrections in a timely manner. | | 公司及相关信息披露义务人应当保证披露的信息内容与向本所提交的公告材料内容一致。公司披露的公告内容与提供给本所的材料内容不一致的，应当立即向本所报告并及时更正。 |
| 2.2.4 A listed company and the relevant persons with disclosure obligations shall perform their disclosure obligations in a timely manner with respect to a related material matter at any of the following points in time when: | | 2.2.4 上市公司及相关信息披露义务人应当在涉及的重大事项触及下列任一时点及时履行信息披露义务： |
| (1) the board of directors or the board of supervisors makes a resolution; | | （一）董事会或者监事会作出决议； |
| (2) a letter of intent or agreement, whether or not subject to a condition or term, is signed; and | | （二）签署意向书或者协议（无论是否附加条件或期限）； |
| (3) the company including any director, supervisor or senior officer knows or should know the occurrence of the material matter; | | （三）公司（含任一董事、监事或者高级管理人员）知悉或者应当知悉该重大事项发生； |
| If any of the following circumstances arises before the points in time as enumerated in the preceding paragraph with respect to any material matter that is still in the planning stage, the company and the relevant persons with disclosure obligations shall disclose relevant planning details and existing facts in a timely manner: | | 重大事项尚处于筹划阶段，但在前款规定的时点之前出现下列情形之一的，公司及相关信息披露义务人应当及时披露相关筹划情况和既有事实： |
| (1) it is difficult to keep the material matter confidential; | | （一）该重大事项难以保密； |
| (2) the material matter is leaked or a rumor relating to the material matter is circulating on the market (hereinafter, rumor); or | | （二）该重大事项已经泄露或者出现市场传闻（以下简称传闻）； |
| (3) there is unusual movement in the prices of the company's stocks and derivatives thereon. | | （三）公司股票及其衍生品种的交易发生异常波动。 |
| 2.2.5 If a listed company is unable to disclose the details of a material matter at the prescribed time as required, it may first disclose a preannouncement describing the basic information of the material matter and explaining the reason therefor and pledge to make an announcement in compliance with applicable requirements within two trading days. | | 2.2.5 上市公司在规定时间无法按规定披露重大事项的详细情况的，可以先披露提示性公告说明该重大事项的基本情况，解释未能按要求披露的原因，并承诺在2个交易日内披露符合要求的公告。 |
| 2.2.6 If a listed company and the relevant persons with disclosure obligations plans a material matter in a prolonged manner, they shall disclose the progress in stages as required and warn of relevant risks in a timely manner, and may not refuse to provide disclosure only on the grounds that there is uncertainty about the results of the relevant matter. | | 2.2.6 上市公司及相关信息披露义务人筹划重大事项，持续时间较长的，应当按规定分阶段披露进展情况，及时提示相关风险，不得仅以相关事项结果尚不确定为由不予披露。 |
| If a material change in a disclosed matter may have a significant impact on the trading prices of the company's stocks and derivatives thereon, the company and the relevant persons with disclosure obligations shall disclose announcements about the progress in a timely manner. | | 已披露的事项发生重大变化，可能对公司股票及其衍生品种交易价格产生较大影响的，公司及相关信息披露义务人应当及时披露进展公告。 |
| 2.2.7 If the information intended to be disclosed by a listed company and the relevant persons with disclosure obligations is determined as a state secret in accordance with the law, and disclosure or performance of relevant obligations in accordance with these Rules may cause them to violate laws and regulations or endanger national security, they may be exempted from disclosure in accordance with the relevant regulations of the Exchange. | | 2.2.7 上市公司及相关信息披露义务人拟披露的信息被依法认定为国家秘密，按照本规则披露或者履行相关义务可能导致其违反法律法规或者危害国家安全的，可以按照本所相关规定豁免披露。 |
| If the information intended to be disclosed by a listed company and the relevant persons with disclosure obligations is a trade secret or commercially sensitive information, and the disclosure or performance of relevant obligations in accordance with these Rules may cause unfair competition, harm the interests of the company and investors, or mislead investors, they may delay or be exempted from the disclosure of the information according to the relevant regulations of the Exchange. | | 上市公司及相关信息披露义务人拟披露的信息属于商业秘密、商业敏感信息，按照本规则披露或者履行相关义务可能引致不当竞争、损害公司及投资者利益或者误导投资者的，可以按照本所相关规定暂缓或者豁免披露该信息。 |
| 2.2.8 A listed company that delays or be exempted from the disclosure of its information in accordance with Section 2.2.7 of these Rules shall meet the following conditions: | | 2.2.8 上市公司按照本规则第2.2.7条规定暂缓披露或豁免披露其信息的，应当符合以下条件： |
| (1) the relevant information has not been divulged; | | （一）相关信息未泄露； |
| (2) the relevant insiders who has access to insider information have given a written undertaking as to confidentiality; and | | （二）有关内幕信息知情人已书面承诺保密； |
| (3) there is no unusual movement in the prices of the company's stocks and derivatives thereon. | | （三）公司股票及其衍生品种交易未发生异常波动。 |
| If there cease to be reasons for the delay in or exemption from disclosure, the company shall disclose the relevant information in a timely manner, and explain the reasons for the failure to disclose it in a timely manner and the decision-making procedures that the company has followed and the confidentiality measures it has taken regarding the delay in or exemption from disclosure. | | 暂缓、豁免披露的原因已经消除的，公司应当及时披露相关信息，并说明未及时披露的原因、公司就暂缓或者豁免披露已履行的决策程序和已采取的保密措施等情况。 |
| If the company's delay in or exemption of information disclosure does not comply with the requirements of paragraph 1 of this Subsection and Section 2.2.7 of these Rules, the company shall perform information disclosure and related obligations in a timely manner. | | 公司暂缓、豁免信息披露不符合本条第一款和本规则第2.2.7条要求的，公司应当及时履行信息披露及相关义务。 |
| 2.2.9 A listed company and the relevant persons with disclosure obligations shall not provide material information which the company has not disclosed for any entity or individual by shareholders' meeting, investor briefing, analyst meeting, road show, accepting investor research, giving an interview to the media, or any other means. | | 2.2.9 上市公司及相关信息披露义务人不得通过股东大会、投资者说明会、分析师会议、路演、接受投资者调研、接受媒体采访等形式，向任何单位和个人提供公司尚未披露的重大信息。 |
| The company and the relevant persons with disclosure obligations may, as compellingly needed, release material information in a non-trading session by press conference, giving a special interview to the media, company website, independently operated account, or any other means, provided that it shall disclose the relevant announcement at the next trading session for information disclosure. | | 公司及相关信息披露义务人确有需要的，可以在非交易时段通过新闻发布会、媒体专访、公司网站、网络自媒体等方式对外发布重大信息，但应当于最近一个信息披露时段内披露相关公告。 |
| 2.2.10 These Rules shall apply to the relevant material matters under these Rules incurred by the subsidiaries of listed companies and other entities under the control of the listed companies which are deemed as the material matters occurred by the listed companies. | | 2.2.10 上市公司控股子公司及控制的其他主体发生本规则规定的相关重大事项，视同上市公司发生的重大事项，适用本规则。 |
| If a company in which a listed company has an equity interest incurs a relevant material matter specified in these Rules which may have a significant impact on the trading prices of the company's stocks and derivatives thereon, disclosure obligations shall be performed in accordance with the relevant provisions of these Rules, mutatis mutandis, | | 上市公司的参股公司发生本规则规定的相关重大事项，可能对公司股票及其衍生品种交易价格产生较大影响的，应当参照本规则相关规定，履行信息披露义务。 |
| unless otherwise provided by laws and regulations or required by the Exchange. | | 法律法规或者本所另有规定的，从其规定。 |
| 2.2.11 If a matter incurred by or related to a listed company does not meet the disclosure standards specified in these Rules, or these Rules have no specific provisions, but the matter may have a significant impact on the trading prices of the company's stocks and derivatives thereon, the company shall provide disclosure in a timely manner in accordance with these Rules, mutatis mutandis. | | 2.2.11 上市公司发生的或者与之有关的事项没有达到本规则规定的披露标准，或者本规则没有具体规定，但该事项对公司股票及其衍生品种交易价格可能产生较大影响的，公司应当参照本规则及时披露。 |
| 2.2.12 In addition to the information that shall be disclosed in accordance with the law, a listed company or person with disclosure obligations may voluntarily disclose information related to an investors' value judgments and investment decision-making, provided that such information shall neither conflict with the information disclosed in accordance with the law nor mislead investors. | | 2.2.12 除依法应当披露的信息之外，上市公司及相关信息披露义务人可以自愿披露与投资者作出价值判断和投资决策有关的信息，但不得与依法披露的信息相冲突，不得误导投资者。 |
| The information voluntarily disclosed by the company and the relevant persons with disclosure obligations shall be true, accurate and complete, and it shall uphold the principle of fairness and maintain the continuity and consistency of information disclosure, and shall not make selective disclosure. | | 公司及相关信息披露义务人自愿披露的信息，应当真实、准确、完整，遵守公平原则，保持信息披露的持续性和一致性，不得进行选择性披露。 |
| If the company and the relevant persons with disclosure obligations voluntarily disclose information, it shall be prudential and objective, and shall not use such information to improperly influence the trading prices of the company's stocks and derivatives thereon, engage in insider trading, manipulate the market, or otherwise violate laws and regulations. | | 公司及相关信息披露义务人自愿披露信息的，应当审慎、客观，不得利用该等信息不当影响公司股票及其衍生品种交易价格、从事内幕交易、市场操纵或者其他违法违规行为。 |
| Section 3 Information Disclosure Management System | | 第三节 信息披露管理制度 |
| 2.3.1 A listed company shall formulate and strictly implement an information disclosure affairs management system, and the information disclosure affairs management system shall be approved by the board of directors of the company and disclosed. | | 2.3.1 上市公司应当制定并严格执行信息披露事务管理制度，信息披露事务管理制度应当经公司董事会审议通过并披露。 |
| 2.3.2 A listed company shall have the necessary communications facilities for information disclosure, establish an effective channel for communication with the Exchange, and ensure that its public inquiry telephone is not engaged. | | 2.3.2 上市公司应当配备信息披露所必需的通讯设备，建立与本所的有效沟通渠道，并保证对外咨询电话的畅通。 |
| 2.3.3 A listed company shall establish a code of conduct for directors, supervisors, senior managers and other relevant parties in respect of information disclosure, and shall specify matters such as release procedures and methods. | | 2.3.3 上市公司应当制定规范董事、监事和高级管理人员及其他相关主体对外发布信息的行为规范，明确发布程序、方式等事项。 |
| The controlling shareholder and de facto controller of the company shall, according to the requirements in the preceding paragraph mutatis mutandis, regulate information release related to the listed company. | | 公司控股股东、实际控制人应当比照前款要求，规范与上市公司有关的信息发布行为。 |
| 2.3.4 A listed company shall establish and implement a system for the registration and management of insiders who have access to insider information, and the system for the registration and management of insiders who have access to insider information shall be approved by the board of directors of the company and disclosed. | | 2.3.4 上市公司应当建立和执行内幕信息知情人登记管理制度，内幕信息知情人登记管理制度应当经公司董事会审议通过并披露。 |
| The company and the relevant persons with information disclosure obligations shall, before information disclosure, minimize the scope of insiders who have access to the insider information. | | 公司及相关信息披露义务人和其他内幕信息知情人在信息披露前，应当将该信息的知情人控制在最小范围内。 |
| Before the insider information is disclosed in accordance with the law, insiders who have access to insider information shall neither make publicly available or divulge the insider information nor buy or sell, or advise others to buy or sell, the company's stocks and derivatives thereon. | | 内幕信息知情人在内幕信息依法披露前，不得公开或者泄露内幕信息、买卖或者建议他人买卖公司股票及其衍生品种。 |
| 2.3.5 A listed company and the relevant persons with disclosure obligations shall pay attention to media reports and rumors about the company and the trading conditions of the company's stocks and derivatives thereon, and obtain an understanding of the real conditions from the relevant parties in a timely manner. | | 2.3.5 上市公司及相关信息披露义务人应当关注关于本公司的媒体报道、传闻以及本公司股票及其衍生品种的交易情况，及时向有关方了解真实情况。 |
| Where media reports and rumors may have a significant impact on the trading conditions of the company's stocks and derivatives thereon, the company and the relevant persons with disclosure obligations shall obtain a verification of the conditions from the relevant parties, and disclose an announcement for clarification and explanation in a timely manner. | | 媒体报道、传闻可能对公司股票及其衍生品种的交易情况产生较大影响的，公司及相关信息披露义务人应当向相关方核实情况，及时披露公告予以澄清说明。 |
| 2.3.6 A listed company may provide information disclosure by two means: direct disclosure and indirect disclosure. | | 2.3.6 上市公司信息披露采用直通披露和非直通披露两种方式。 |
| Information disclosure shall be made by means of direct disclosure in principle, and the Exchange may adjust the scope of direct disclosure companies according to the quality of companies' information disclosure and their compliance matters. | | 信息披露原则上采用直通披露方式，本所可以根据公司信息披露质量、规范运作情况等，调整直通披露公司范围。 |
| The Exchange will determine the announced scope of direct disclosure, and may make adjustments as needed for business. | | 直通披露的公告范围由本所确定，本所可以根据业务需要进行调整。 |
| 2.3.7 The Exchange conducts a formality examination of the information disclosed by listed companies and the relevant persons with disclosure obligations in accordance with laws and regulations and the relevant regulations of the Exchange, and is not liable for the truthfulness thereof. | | 2.3.7 本所根据法律法规及本所相关规定，对上市公司及相关信息披露义务人披露的信息进行形式审查，对其内容的真实性不承担责任。 |
| Chapter III Management of the Listing and Change of Stocks and Derivatives thereon | | 第三章 股票及其衍生品种的上市与变动管理 |
| Section 1 IPO and Listing of IPO Stocks | | 第一节 首次公开发行股票上市 |
| 3.1.1 An issuer that applies to the Exchange for listing its IPO stocks shall meet the following requirements: | | 3.1.1 发行人首次公开发行股票后申请其股票在本所上市，应当符合下列条件： |
| (1) its stocks have been offered to the public; | | （一）股票已公开发行； |
| (2) it has a sound and well-functioning organizational structure; | | （二）具备健全且运行良好的组织机构； |
| (3) it is viable as a going concern; | | （三）具有持续经营能力； |
| (4) its total share capital is no less than 50 million yuan; | | （四）公司股本总额不少于人民币5000万元； |
| (5) the quantity of public offered stocks accounts for more than 25 percent of its total stocks. For an issuer whose total share capital exceeds 400 million yuan, such percentage reaches more than 10 percent; | | （五）公开发行的股份达到公司股份总数的25%以上；公司股本总额超过人民币4亿元的，公开发行股份的比例达到10%以上； |
| (6) the company and its controlling shareholder and de facto controller have not committed any criminal offense of corruption, bribery, encroaching upon property, misappropriating property or sabotaging the socialist market economic order in the most recent three years; | | （六）公司及其控股股东、实际控制人最近3年不存在贪污、贿赂、侵占财产、挪用财产或者破坏社会主义市场经济秩序的刑事犯罪； |
| (7) its financial reports for the most recent three financial years receive unqualified audit reports; and | | （七）最近3个会计年度财务会计报告均被出具无保留意见审计报告； |
| (8) other requirements as may be imposed by the Exchange. | | （八）本所要求的其他条件。 |
| 3.1.2 An issuer applying to the Exchange for the listing of its IPO stocks shall submit the following documents: | | 3.1.2 发行人向本所申请其首次公开发行的股票上市，应当提交下列文件： |
| (1) listing application; | | （一）上市申请书； |
| (2) the document of the CSRC on approving the initial public offering of its stocks; | | （二）中国证监会关于同意其股票首次公开发行的文件； |
| (3) resolutions by the board of directors and the shareholders' general meeting on the application for listing of its stocks; | | （三）申请股票上市的董事会和股东大会决议； |
| (4) a photocopy of the company's business license; | | （四）公司营业执照复印件； |
| (5) the articles of association of the company; | | （五）公司章程； |
| (6) the financial reports of the company for the most recent three years audited by a CPA firm; | | （六）经会计师事务所审计的发行人最近3年的财务会计报告； |
| (7) document evidencing the custody of all its IPO stocks with China Securities Depository and Clearing Corporation Limited Shanghai Branch (hereinafter, the CSDC); | | （七）首次公开发行结束后发行人全部股票已经中国证券登记结算有限责任公司上海分公司（以下简称中国结算）托管的证明文件； |
| (8) capital verification report produced by a CPA firm upon completing the IPO; | | （八）首次公开发行结束后，会计师事务所出具的验资报告； |
| (9) particulars on the shareholdings of directors, supervisors and senior officers and the Declaration and Undertaking with regard to Directors (Supervisors or Senior Officers); | | （九）董事、监事和高级管理人员持有本公司股份的情况说明和《董事（监事、高级管理人员）声明及承诺书》； |
| (10) relevant materials of the person who is intended to be appointed or has been appointed as the board secretary by the issuer; | | （十）发行人拟聘任或者已聘任的董事会秘书的有关资料； |
| (11) the financial materials newly added during the period from the IPO to the listing pursuant to relevant regulations, and a statement on relevant material matters, if applicable; | | （十一）首次公开发行后至上市前，按规定新增的财务资料和有关重大事项的说明（如适用）； |
| (12) the pre-IPO shareholders' undertakings to lock up their shares for one year after listing; | | （十二）首次公开发行前股东就上市之后1年内锁定股份的承诺函； |
| (13) the undertaking as prescribed in Section 3.1.5 of these Rules; | | （十三）本规则第3.1.5条所述承诺函； |
| (14) the latest prospectus; | | （十四）最近一次的招股说明书； |
| (15) listing announcement prepared pursuant to relevant regulations; | | （十五）按照有关规定编制的上市公告书； |
| (16) sponsorship agreement and the letter of listing sponsorship produced by a sponsor; | | （十六）保荐协议和保荐人出具的上市保荐书； |
| (17) legal opinion issued by a law firm; and | | （十七）律师事务所出具的法律意见书； |
| (18) other documents as required by the Exchange. | | （十八）本所要求的其他文件。 |
| 3.1.3 The issuer and its directors, supervisors and senior officers shall guarantee that the listing application documents submitted to the Exchange are truthful, accurate and complete and no misrepresentations, misleading statements and major omissions are contained therein. | | 3.1.3 发行人及其董事、监事和高级管理人员应当保证向本所提交的上市申请文件真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏。 |
| 3.1.4 The stocks issued by the issuer before the IPO shall not be transferred within one year since the listing of its stocks. | | 3.1.4 发行人首次公开发行股票前已发行的股份，自发行人股票上市之日起1年内不得转让。 |
| 3.1.5 When the issuer applies to the Exchange for listing its IPO stocks, its controlling shareholder and de facto controller shall make an undertaking that, within 36 months of listing of the issuer's stocks, they shall not transfer the issuer's stocks issued before the IPO and held by them either directly or indirectly, or appoint others for the management of such stocks, and such stocks shall not be repurchased by the issuer. The issuer shall disclose the aforesaid undertaking in its listing announcement. | | 3.1.5 发行人向本所申请其首次公开发行股票上市时，其控股股东和实际控制人应当承诺：自发行人股票上市之日起36个月内，不转让或者委托他人管理其直接和间接持有的发行人首次公开发行股票前已发行的股份，也不由发行人回购该部分股份。发行人应当在上市公告书中披露上述承诺。 |
| If there is any of the following circumstances after the expiration of the one-year period from the listing date of the issuer's stocks, an undertaking person may be exempted from compliance with the above undertaking, with the approval by the Exchange upon their application: | | 自发行人股票上市之日起1年后，出现下列情形之一的，经上述承诺主体申请并经本所同意，可以豁免遵守上述承诺： |
| (1) both parties to a transfer are in an actual control relationship or under the control of a common de facto controller, and the transferee succeed to the obligation not to transfer the shares; | | （一）转让双方存在实际控制关系，或者均受同一实际控制人所控制，且受让方承继不转让股份的义务； |
| (2) as the listed company is in crisis or in serious financial difficulty, the company bailout plan proposed by a transferee is approved by the shareholders' general meeting of the company and a competent authority, and the transferee undertakes to continue compliance with the above undertaking; and | | （二）因上市公司陷入危机或者面临严重财务困难，受让人提出挽救公司的方案获得该公司股东大会审议通过和有关部门批准，且受让人承诺继续遵守上述承诺； |
| (3) other circumstances as recognized by the Exchange. | | （三）本所认定的其他情形。 |
| If the issuer does not have a controlling shareholder or de facto controller, or its controlling shareholder or de facto controller is difficult to determine, the provisions of sub-paragraph (1) of the preceding paragraph shall apply to shareholders who undertake not to transfer their pre-IPO shares within 36 months from the listing date of the issuer's stocks in accordance with relevant regulations. | | 发行人没有或者难以认定控股股东、实际控制人的，按照相关规定承诺所持首次公开发行前股份自发行人股票上市之日起36个月内不得转让的股东，适用前款第（一）项规定。 |
| 3.1.6 The Exchange will, within seven trading days of receiving the full set of listing application documents enumerated in Section 3.1.2 of these Rules, and make a decision whether or not to grant an approval. Under special situations, the Exchange may defer the making of such decision. | | 3.1.6 本所在收到发行人提交的本规则第3.1.2条所列全部上市申请文件后7个交易日内，作出是否同意上市的决定。出现特殊情况时，本所可以暂缓作出决定。 |
| 3.1.7 The Exchange has a Listing Committee which reviews the listing application, makes professional judgment and issues its opinion. The Exchange makes its decision on the listing application in accordance with the opinion of the Listing Committee. | | 3.1.7 本所设立上市委员会对上市申请进行审议，作出独立的专业判断并形成审核意见。本所根据上市委员会的意见，作出是否同意上市的决定。 |
| The conditions enumerated in Section 3.1.1 of these Rules are essential for listing on the Exchange. The Exchange does not guarantee that meeting such conditions will certainly get an issuer's listing application approved. | | 本规则第3.1.1条所列条件为在本所上市的必备条件，本所并不保证发行人符合上述条件时，其上市申请一定能够获得本所同意。 |
| 3.1.8 After the approval of the Exchange for its application for listing of IPO stocks, the issuer shall, within five trading days before the listing of its stocks, publish the following documents via qualified media outlets: | | 3.1.8 首次公开发行的股票上市申请获得本所同意后，发行人应当于其股票上市前5个交易日内，在符合条件的媒体披露下列文件： |
| (1) listing announcement; and | | （一）上市公告书； |
| (2) the articles of association of the company; | | （二）公司章程； |
| (3) other documents as required by the Exchange. | | （三）本所要求的其他文件。 |
| The aforesaid documents shall be placed at the company's domicile for public inspection. | | 上述文件应当置备于公司住所，供公众查阅。 |
| Without the permission of the Exchange, the issuer shall not make any disclosure on its listing during the course of listing application. | | 发行人在提出上市申请期间，未经本所同意，不得擅自披露与上市有关的信息。 |
| Section 2 Offering and Listing of Listed Companies' Stocks and Derivatives thereon | | 第二节 上市公司股票及其衍生品种的发行与上市 |
| 3.2.1 A listed company that applies to the Exchange for offering of stocks, convertible bonds or the like to unspecific offerees shall submit the following documents: | | 3.2.1 上市公司向本所申请办理向不特定对象发行股票或者可转换公司债券等证券发行事宜时，应当提交下列文件： |
| (1) the document of the CSRC on approving its offering; | | （一）中国证监会关于同意其发行的文件； |
| (2) all offering application materials; | | （二）全部发行申报材料； |
| (3) proposed schedule for the offering; | | （三）发行的预计时间安排； |
| (4) specific implementation plan for the offering as well as offering announcement; | | （四）发行具体实施方案和发行公告； |
| (5) prospectus or other offering documents; | | （五）招股说明书或者其他发行募集文件； |
| (6) other documents as required by the Exchange. | | （六）本所要求的其他文件。 |
| 3.2.2 A listed company shall, pursuant to the relevant regulations of the CSRC, prepare and disclose in a timely manner the relevant announcements relating to the offering of new stocks, convertible bonds, and other securities. | | 3.2.2 上市公司应当按照中国证监会有关规定，编制并及时披露涉及新股、可转换公司债券等证券发行的相关公告。 |
| 3.2.3 Upon completing the offering, the listed company shall be entitled to apply to the Exchange for listing the offered stocks, convertible bonds, and other securities. | | 3.2.3 发行结束后，上市公司可以向本所申请所发行股票、可转换公司债券等证券上市。 |
| 3.2.4 A shareholder of a listed company that subscribes for new stocks issued by the company shall comply with laws and regulations and the relevant restrictive regulations of the Exchange on share transfers, and shall not transfer such stocks within the prescribed period, unless shares of the company are transferred among parties under the control of a common de facto controller, and the transferee succeed to the obligation not to transfer the shares. | | 3.2.4 上市公司股东认购公司发行的新股，应当遵守法律法规及本所相关规定中关于股份转让的限制性规定，在规定的期限内不得转让，但同一实际控制人控制的不同主体之间转让公司股份且受让方承继不得转让股份义务的除外。 |
| If a shareholder subscribes for new stocks issued by the company and gives an undertaking as to share transfer restrictions, the shareholder shall not transfer the shares within the period of undertaking, unless the undertaking change procedures are followed in accordance with laws and regulations. | | 股东认购公司发行的新股，就限制股份转让作出承诺的，在承诺的期限内不得转让，但依法依规履行承诺变更程序的除外。 |
| 3.2.5 When a listed company applies for listing of new stocks and convertible bonds on the Exchange, it shall meet the relevant conditions for offering of stocks and convertible bonds. | | 3.2.5 上市公司申请新股、可转换公司债券在本所上市时，仍应当符合股票、可转换公司债券的相关发行条件。 |
| 3.2.6 A listed company applying to the Exchange for listing of its stocks offered to unspecific offerees shall submit the following documents: | | 3.2.6 上市公司向本所申请向不特定对象发行的股票上市，应当提交下列文件： |
| (1) listing application; | | （一）上市申请书； |
| (2) the resolutions of the board of directors in respect of the offering and listing; | | （二）有关本次发行上市事宜的董事会决议； |
| (3) listing announcement prepared pursuant to relevant regulations; | | （三）按照有关规定编制的上市公告书； |
| (4) sponsorship agreement and the letter of listing sponsorship issued by the sponsor; | | （四）保荐协议和保荐人出具的上市保荐书； |
| (5) capital verification report issued by a CPA firm with upon completing the offering; | | （五）发行结束后经会计师事务所出具的验资报告； |
| (6) written confirmation by the CSDC of registration and custody of the new shares; | | （六）中国结算对新增股份已登记托管的书面确认文件； |
| (7) a report on the changes in the shareholdings of directors, supervisors and senior officers; and | | （七）董事、监事和高级管理人员持股情况变动的报告； |
| (8) other documents as required by the Exchange. | | （八）本所要求的其他文件。 |
| 3.2.7 A listed company applying for listing of convertible bonds to the Exchange will submit the following documents: | | 3.2.7 上市公司向本所申请可转换公司债券上市，应当提交下列文件： |
| (1) listing application; | | （一）上市申请书； |
| (2) the resolutions of the board of directors in respect of the offering and listing; | | （二）有关本次发行上市事宜的董事会决议； |
| (3) listing announcement prepared pursuant to relevant regulations; | | （三）按照有关规定编制的上市公告书； |
| (4) sponsorship agreement and the letter of listing sponsorship issued by the sponsor; | | （四）保荐协议和保荐人出具的上市保荐书； |
| (5) capital verification report issued by a CPA firm with upon completing the offering; | | （五）发行结束后经会计师事务所出具的验资报告； |
| (6) written confirmation by the CSDC of registration and custody of the new convertible bonds; | | （六）中国结算对新增可转换公司债券已登记托管的书面确认文件； |
| (7) the custody agreement; and | | （七）受托管理协议； |
| (8) other documents as required by the Exchange. | | （八）本所要求的其他文件。 |
| 3.2.8 A listed company shall, at least three trading days before listing of the stocks, convertible bonds, and other securities offered to unspecific offerees, disclose the following documents and matters via qualified media outlets: | | 3.2.8 上市公司应当在向不特定对象发行的股票或者可转换公司债券等证券上市至少3个交易日前，在符合条件的媒体披露下列文件和事项： |
| (1) listing announcement; and | | （一）上市公告书； |
| (2) other documents and matters as required by the Exchange. | | （二）本所要求的其他文件和事项。 |
| Section 3 Lifting of Sale Restrictions on Stocks and Derivatives thereon | | 第三节 股票及其衍生品种解除限售 |
| 3.3.1 The provisions of this Section shall apply to the lifting of sale restrictions on the following lock-up stocks and derivatives thereon held by investors: | | 3.3.1 投资者持有的下列有限售条件的股票及其衍生品种解除限售适用本节规定： |
| (1) shares that have been offered before the initial public offering; | | （一）首次公开发行前已经发行的股份； |
| (2) the stocks and derivatives thereon issued by the listed company to specific offerees; | | （二）上市公司向特定对象发行的股票及其衍生品种； |
| (3) other lock-up stocks and derivatives thereon in accordance with laws and regulations and the relevant regulations of the Exchange. | | （三）其他根据法律法规及本所相关规定存在限售条件的股票及其衍生品种。 |
| 3.3.2 An investor shall strictly comply with each given undertaking in the sale of stocks and derivatives thereon on which sale restrictions have been lifted, which sale shall not affect the continued performance of the undertakings. | | 3.3.2 投资者出售已解除限售的股票及其衍生品种应当严格遵守所作出的各项承诺，其出售股票及其衍生品种的行为不得影响所作承诺的继续履行。 |
| 3.3.3 A listed company and its investors shall pay attention to the lock-up period of stocks and derivatives thereon and the performance conditions of relevant undertakings before application for lifting of the restrictions. | | 3.3.3 上市公司及其投资者应当关注股票及其衍生品种的限售期限及相关承诺在申请解除限售前的履行情况。 |
| Sponsors and their sponsor representatives; and independent financial advisors and their lead persons shall, in accordance with relevant regulations, provide supervision and guidance for relevant investors to strictly perform each undertaking given by them, and regulate the lifting of sale restrictions on stocks and derivatives thereon. | | 保荐人及其保荐代表人、独立财务顾问及其主办人应当按照有关规定督导相关投资者严格履行其作出的各项承诺，规范股票及其衍生品种解除限售行为。 |
| Sponsors and their sponsor representatives; and independent financial advisors and their lead persons shall check the compliance of the matter of lifting of sale restrictions in question, and express a conclusive opinion on whether the number of shares on which sale restrictions are lifted and the time for lifting of sale restrictions in question comply with relevant laws and regulations, the relevant regulations of the Exchange and investor undertakings and whether the relevant information disclosures are truthful, accurate and complete. | | 保荐人及其保荐代表人、独立财务顾问及其主办人应当对本次解除限售事项的合规性进行核查，并对本次解除限售数量、解除限售时间是否符合有关法律法规、本所相关规定和投资者承诺，相关信息披露是否真实、准确、完整发表结论性意见。 |
| 3.3.4 An investor who applies for lifting of sale restrictions on stocks and derivatives thereon subject to sales restrictions shall authorize the listed company to follow relevant procedures and meet the following conditions: | | 3.3.4 投资者申请限售股票及其衍生品种解除限售的，应当委托上市公司办理相关手续，并满足下列条件： |
| (1) the lock-up period has expired; | | （一）限售期已满； |
| (2) the lifting of sale restrictions will not affect the investor's performance of the relevant undertakings given by it; | | （二）解除限售不影响该投资者履行其作出的有关承诺； |
| (3) the investor who applies for lifting of sale restrictions does not commit misappropriation of company funds, and the company does not commit granting of irregular guarantees to the investor or any other act injurious to the interests of the company; | | （三）申请解除限售的投资者不存在对公司的资金占用，公司对该投资者不存在违规担保等损害公司利益的行为； |
| (4) there is no circumstance for transfer restrictions as specified by laws and regulations and the relevant regulations of the Exchange. | | （四）不存在法律法规及本所相关规定中规定的限制转让情形。 |
| 3.3.5 A listed company shall apply for lifting of sale restrictions three trading days before lifting of sale restrictions on the relevant stocks, and disclose an announcement of lifting of sale restrictions. | | 3.3.5 上市公司应当在有关股票解除限售的3个交易日前申请解除限售，并披露解除限售的公告。 |
| The contents of the announcement shall include without limitation the free-float time, number of shares, and percentage on total share capital of lock-up stocks, the sale restriction undertakings given by relevant shareholders and their performance, and the company's share capital structure after the lifting of sale restrictions in question. | | 公告内容包括但不限于限售股票的流通时间、数量及占总股本的比例、有关股东所作出的限售承诺及其履行情况、本次解除限售后公司的股本结构。 |
| If the company applies for lifting of sale restrictions on shares derived from the non-tradable share reform, the above provisions shall apply mutatis mutandis, unless otherwise required by the Exchange. | | 公司申请股权分置改革后股份解除限售的，参照上述规定执行，本所另有规定的从其规定。 |
| 3.3.6 If the Exchange has otherwise established provisions on the lifting of sale restrictions on stocks and derivatives thereon, such provisions shall prevail. | | 3.3.6 本所对股票及其衍生品种的解除限售事宜另有规定的，从其规定。 |
| Section 4 Management of Changes in Stocks and Derivatives thereon | | 第四节 股票及其衍生品种变动管理 |
| 3.4.1 Changes in the stocks and derivatives thereon held by investors, directors, supervisors and senior officers of a listed company shall comply with laws and regulations, the relevant regulations of the Exchange, and the company's articles of association, among others. | | 3.4.1 上市公司投资者、董事、监事和高级管理人员等所持股票及其衍生品种的变动事宜，应当遵守法律法规、本所相关规定以及公司章程等规定。 |
| Investors, directors, supervisors and senior officers, among others, shall strictly perform undertakings given by them as to holding ratio, holding period, change method, and price change, among others, if any. | | 投资者及董事、监事和高级管理人员等对持有比例、持有期限、变动方式、变动价格等作出承诺的，应当严格履行所作出的承诺。 |
| 3.4.2 Where shares of a listed company in which an interest is owned reach more than 5 percent of outstanding voting shares of the company, or subsequent changes in the shares in which an interest is owned fall under the circumstance of acquisition or changes in interests in shares as specified in the Securities Law and the Measures for the Administration of the Takeover of Listed Companies, among others, the shareholder, de facto controller or other relevant person with disclosure obligations shall notify the listed company in accordance with the Securities Law and the Measures for the Administration of the Takeover of Listed Companies, among others, and perform their announcement obligation. | | 3.4.2 在一个上市公司中拥有权益的股份达到该公司已发行的有表决权股份的5%以上，或者其后拥有权益的股份变动涉及《证券法》《上市公司收购管理办法》等规定的收购或者股份权益变动情形的，该股东、实际控制人及其他相关信息披露义务人应当按照《证券法》《上市公司收购管理办法》等规定通知上市公司，并履行公告义务。 |
| If the aforementioned investor purchases voting shares of the company in violation of the provisions of paragraphs 1 and 2 of Article 63 of the Securities Law, it shall not vote the shares as excess over the prescribed percentage within 36 months after the purchase. The company shall not include the aforementioned shares in the total voting shares present at the shareholders' general meeting, in accordance with the Securities Law. | | 前述投资者违反《证券法》第六十三条第一款、第二款的规定买入公司有表决权的股份的，在买入后的36个月内，对该超过规定比例部分的股份不得行使表决权。公司应当按照《证券法》的规定，不得将前述股份计入出席股东大会有表决权的股份总数。 |
| The company shall cooperate with investors in performing disclosure obligations. If the shareholder, de facto controller or other relevant person of the company with disclosure obligations fails to perform its reporting and announcement obligations, the board of directors of the company shall make a report and announcement on the date of acquiring knowledge, and urge the relevant shareholder, de facto controller or other relevant person with disclosure obligations to perform its announcement obligation. | | 公司应当配合投资者履行信息披露义务。公司股东、实际控制人及其他相关信息披露义务人未履行报告和公告义务的，公司董事会应当自知悉之日起作出报告和公告，并督促相关股东、实际控制人及其他相关信息披露义务人履行公告义务。 |
| 3.4.3 If a listed company is acquired by tender offer, or by a director, supervisor, senior officer, or employee of the company or a legal person or any other organization under the control or authority of the foregoing, the listed company shall disclose announcements and perform relevant obligations in accordance with the Securities Law and the Measures for the Administration of the Takeover of Listed Companies, among others. | | 3.4.3 上市公司涉及被要约收购或者被公司董事、监事、高级管理人员、员工或者其所控制或者委托的法人、其他组织收购的，应当按照《证券法》《上市公司收购管理办法》等规定披露公告并履行相关义务。 |
| 3.4.4 Where changes in the share capital of a listed company cause the changes in shares of the company in which an investor is interested to fall under the circumstance of acquisition or changes in interests in shares as specified in the Securities Law and the Measures for the Administration of the Takeover of Listed Companies, among others, the company shall make an announcement about the changes in shares of the company which the shareholder has an interest, within two trading days after completing share capital registration. | | 3.4.4 因上市公司股本变动，导致投资者在该公司中拥有权益的股份变动涉及《证券法》《上市公司收购管理办法》等规定的收购或者股份权益变动情形的，公司应当自完成股本变更登记之日起2个交易日内就因此导致的公司股东权益的股份变动情况作出公告。 |
| 3.4.5 Where a shareholder, a de facto controller, or any other person with disclosure obligations of a listed company fails to fulfill reporting and announcement obligations, or refuses to fulfill cooperation obligations, or the shareholder or de facto controller is prohibited by laws and regulations from acquiring the listed company, the board of directors of the company shall decline the proposals or temporary proposals put forward by the shareholder or de facto controller, or a shareholder under its control, and report to the CSRC and the Exchange in a timely manner. | | 3.4.5 上市公司股东、实际控制人及其他相关信息披露义务人未履行报告和公告义务，拒不履行相关配合义务，或者股东、实际控制人存在不得收购公司的情形的，公司董事会应当拒绝接受该股东、实际控制人或受其支配的股东向董事会提交的提案或者临时提案，并及时报告本所及有关监管部门。 |
| 3.4.6 Shares of a listed company held by the directors, supervisors and senior officers of the company shall not be transferred under the following circumstances: | | 3.4.6 上市公司董事、监事和高级管理人员所持本公司股份在下列情形下不得转让： |
| (1) within one year after listing and trading of the company's stocks; | | （一）本公司股票上市交易之日起1年内； |
| (2) within half a year after departure; | | （二）离职后半年内； |
| (3) there is an undertaking not to make transfers within a certain period, and the period has not expired; | | （三）承诺一定期限内不转让并在该期限内的； |
| (4) other circumstances prescribed by laws and regulations and the Exchange. | | （四）法律法规、本所规定的其他情形。 |
| The directors, supervisors and senior officers of the company shall report information on the above shares in accordance with the relevant regulations of the Exchange before listing of the company's stocks, when their appointment takes effect, and when increasing their shareholdings in the company. | | 公司董事、监事和高级管理人员应当在公司股票上市前、任命生效及新增持有公司股份时，按照本所的有关规定申报上述股份的信息。 |
| 3.4.7 If any charge occurs in shares of a listed company held by the directors, supervisors and senior officers of the company, the listed company shall make publicly available the number of shares held before the change, the date, number and price of the change in shares, and the number of shares held after the change, among others, on the website of the Exchange within two trading days after occurrence of the fact. | | 3.4.7 上市公司董事、监事和高级管理人员所持本公司股份发生变动的，应当自该事实发生之日起2个交易日内，在本所网站上公开本次变动前持股数量、本次股份变动的日期、数量、价格、本次变动后的持股数量等。 |
| 3.4.8 Whenever the convertible bonds of a listed company held by an investor come to 20 percent of the total, the investor shall, within two trading days of the occurrence thereof, notify the listed company and making an announcement. | | 3.4.8 投资者持有上市公司已发行的可转换公司债券达到发行总量的20%时，应当在事实发生之日起2个交易日内通知公司予以公告。 |
| Once an investor holds 20 percent of the convertible bonds of the company, the investor shall, pursuant to the provisions of the preceding paragraph, report and announce each 10 percent increase or decrease in the convertible bonds it holds. | | 投资者持有公司已发行的可转换公司债券达到发行总量的20%后，每增加或者减少10%时，应当按照前款规定履行报告和公告义务。 |
| 3.4.9 A listed company shall disclose an announcement in a timely manner when the cumulative number of shares of stock into which convertible bonds are converted reaches 10 percent of total issued shares of the company before commencement of the conversion of the convertible bonds. | | 3.4.9 上市公司应当在可转换公司债券转换为股票的数额累计达到可转换公司债券开始转股前公司已发行股份总额的10%时及时披露公告。 |
| After the end of each quarter, the company shall timely release changes in its shareholdings as a result of conversion of convertible bonds into stocks. | | 公司应当在每一季度结束后及时披露因可转换公司债券转换为股份所引起的股份变动情况。 |
| 3.4.10 Where the directors, supervisors, senior officers or shareholders holding more than 5 percent of shares of a listed company purchase and sell, or sell and purchase, stocks or other securities in the nature of equity of the company held by them within six months in violation of the relevant provisions of the Securities Law, the board of directors of the company shall force them to disgorge the short-swing profits and disclose the purchase and sale by the relevant persons in violations of regulations, the amount of the short-swing profits, the disposition measures taken by the company, and the specific conditions of the company's recovery of the short-swing profits, among others, in a timely manner. | | 3.4.10 上市公司董事、监事、高级管理人员和持有公司5%以上股份的股东违反《证券法》相关规定，将其所持本公司股票或者其他具有股权性质的证券在买入后6个月内卖出，或者在卖出后6个月内又买入的，公司董事会应当收回其所得收益，并及时披露相关人员违规买卖的情况、收益的金额、公司采取的处理措施和公司收回收益的具体情况等。 |
| For the purposes of the preceding paragraph, the stocks or other securities in the nature of equity held by the directors, supervisors, senior officers and natural person shareholders shall include the stocks or other securities in the nature of equity held by their spouses, parents, and children and in the accounts of others. | | 前款所称董事、监事、高级管理人员和自然人股东持有的股票或者其他具有股权性质的证券，包括其配偶、父母、子女持有的及利用他人账户持有的股票或者其他具有股权性质的证券。 |
| 3.4.11 If the controlling shareholder, shareholders holding more than 5 percent of shares and parties acting in concert therewith, directors, supervisors and senior officers of a listed company intend to disclose a plan to increase their shareholdings, they shall specify the number or amount of the increase, or prudentially and reasonably determine the upper and lower limits of the number or amount range, if any. | | 3.4.11 上市公司控股股东、持有公司5%以上股份的股东及其一致行动人、董事、监事和高级管理人员拟披露增持股份计划的，应当明确增持数量或者金额，如设置数量区间或者金额区间的，应当审慎合理确定上限和下限。 |
| 3.4.12 Where the shareholders holding more than 5 percent of shares and parties acting in concert therewith, de facto controllers, directors, supervisors, senior officers, and other shareholder parties subject to the relevant regulations of the Exchange of a listed company, transfer shares of the company held by them, they shall comply with the laws and regulations and the relevant regulations of the Exchange on holding period, transfer time, transfer price, number of shares to be transferred, transfer method, and information disclosure, among others. | | 3.4.12 上市公司持有5%以上股份的股东及其一致行动人、实际控制人、董事、监事和高级管理人员，以及本所相关规定规范的其他持股主体，转让其持有的本公司股份的，应当遵守法律法规、本所相关规定关于持有期限、转让时间、转让价格、转让数量、转让方式、信息披露等规定。 |
| 3.4.13 A subsidiary of a listed company shall not acquire shares issued by the said listed company. The situation concerning subsidiary's holding of shares in the listed company for some special reasons shall be eliminated within one year. The involved subsidiary shall not exercise the voting rights corresponding to the shares held prior to elimination of the above-mentioned situation. | | 3.4.13 上市公司控股子公司不得取得该上市公司发行的股份。确因特殊原因持有股份的，应当在1年内消除该情形。前述情形消除前，相关子公司不得行使所持股份对应的表决权。 |
| Chapter IV Corporate Governance | | 第四章 公司治理 |
| Section 1 General Provisions | | 第一节 一般规定 |
| 4.1.1 A listed company shall establish and improve an effective governance structure, form a scientific and effective mechanism for division of responsibilities and checks and balances, strengthen internal and external supervisory checks and balances, and guarantee the integrity, reasonableness and effectiveness of the internal control system. | | 4.1.1 上市公司应当建立健全有效的治理结构，形成科学有效的职责分工和制衡机制，强化内部和外部监督制衡，保证内部控制制度的完整性、合理性及有效性。 |
| The company shall ensure the lawful operation and scientific decision-making of the shareholders' general meeting, the board of directors, the board of supervisors and other bodies, specify the rights and obligations of shareholders, directors, supervisors and senior officers, guarantee that shareholders fully exercise their lawful rights, respect the basic rights and interests of stakeholders, guarantee the company's compliance with laws and regulations in operation and management, safety of funds and assets, and truthful, accurate and complete information disclosure, effectively prevent financial fraud, misappropriation of funds, irregular guarantees, and other violations of laws and regulations, and defend the lawful rights and interests of the company and its shareholders. | | 公司应当确保股东大会、董事会、监事会等机构合法运作和科学决策，明确股东、董事、监事和高级管理人员的权利和义务，保障股东充分行使其合法权利，尊重利益相关者的基本权益，保证公司经营管理合法合规、资金资产安全、信息披露真实、准确、完整，切实防范财务造假、资金占用、违规担保等违法违规行为，维护公司及股东的合法权益。 |
| 4.1.2 The board of directors, board of supervisors and other bodies of a listed company shall operate independently, exercise decision-making power and operation and management power independently, and guarantee the separation of personnel, assets and finance and the independence of bodies and business, instead of sharing bodies with its controlling shareholder or de facto controller, or any of its related parties, or otherwise affecting the company's independent operation. | | 4.1.2 上市公司董事会、监事会和其他内部机构应当独立运作，独立行使决策权、经营管理权，不得与控股股东、实际控制人及其关联人存在机构混同等影响公司独立经营的情形，保证人员、资产、财务分开，保证机构、业务独立。 |
| 4.1.3 The funds transactions and guarantees, among others, between a listed company and its directors, supervisors, senior officers, controlling shareholder, de facto controller and other related parties shall be in compliance with laws and regulations, the relevant regulations of the Exchange and the company's articles of association and without prejudice to the interests of the company. | | 4.1.3 上市公司与董事、监事、高级管理人员、控股股东、实际控制人及其他关联人发生资金往来、担保等，应当遵守法律法规、本所相关规定和公司章程，不得损害公司利益。 |
| If a related party causes or may cause loss to the company by misappropriating or transferring the funds, assets or other resources of the company, the board of directors shall take litigation, property attachment, and other measures in a timely manner to avoid or reduce the loss, and hold the relevant person accountable. | | 因关联人占用或者转移公司资金、资产或者其他资源而给公司造成损失或者可能造成损失的，董事会应当及时采取诉讼、财产保全等措施避免或者减少损失，并追究有关人员的责任。 |
| If a related party forces, instructs or requires the company to provide funds or grant a guarantee in violation of regulations, the company and its directors, supervisors and senior officers shall refuse to comply, and shall not provide assistance or cooperation or acquiesce. | | 关联人强令、指使或者要求公司违规提供资金或者担保的，公司及其董事、监事和高级管理人员应当拒绝，不得协助、配合、默许。 |
| 4.1.4 A listed company shall actively apply the concept of sustainable development to practical situations, voluntarily assume social responsibilities, safeguard the public interest, and attach importance to ecological and environmental protection. | | 4.1.4 上市公司应当积极践行可持续发展理念，主动承担社会责任，维护社会公共利益，重视生态环境保护。 |
| The company shall prepare and disclose non-financial reports such as social responsibility reports as required. In the event of a breach of social responsibility or any other material matter, the company shall fully assess and disclose in a timely manner the potential impact, and explain reasons and solutions. | | 公司应当按规定编制和披露社会责任报告等非财务报告。出现违背社会责任等重大事项时，公司应当充分评估潜在影响并及时披露，说明原因和解决方案。 |
| 4.1.5 A listed company shall attach importance to and strengthen the management of investor relations, open necessary information exchange channels for the management of investor relations, establish a mechanism and platform for good communication with investors, and improve investors' understanding of the company. | | 4.1.5 上市公司应当重视和加强投资者关系管理工作，为投资者关系管理工作设置必要的信息交流渠道，建立与投资者之间良好的沟通机制和平台，增进投资者对公司的了解。 |
| The company in management of investor relations shall follow the principles of openness, fairness and impartiality, and truthfully, accurately and completely state and present the company's actual circumstances. The company shall avoid releasing or divulging unpublished material information, misleading investors in decision-making by excessive publicity, forecasting or giving an undertaking as to the prices of the company's stocks and derivatives thereon, or otherwise violating information disclosure rules or allegedly manipulating the prices of the stocks and derivatives thereon in investor relations activities. | | 公司投资者关系管理工作应当遵循公开、公平、公正原则，真实、准确、完整地介绍和反映公司的实际状况。公司应当避免在投资者关系活动中出现发布或者泄露未公开重大信息、过度宣传误导投资者决策、对公司股票及其衍生品种价格作出预期或者承诺等违反信息披露规则或者涉嫌操纵股票及其衍生品种价格的行为。 |
| The board of directors of the company shall be responsible for formulating a working system for management of investor relations, and designate the board secretary to assume the responsibility for management of investor relations. The board of supervisors shall supervise the implementation of the working system for management of investor relations. | | 公司董事会应当负责制定投资者关系管理工作制度，并指定董事会秘书负责投资者关系管理工作。监事会应当对投资者关系管理工作制度实施情况进行监督。 |
| Section 2 Shareholders' General Meeting, Board of Directors and Board of Supervisors | | 第二节 股东大会、董事会和监事会 |
| 4.2.1 For the convening and holding of and the vote at the shareholders' general meeting of a listed company, among others, laws and regulations, the relevant regulations of the Exchange and the company's articles of association shall be complied with, all shareholders shall be treated equally, and it shall be impermissible to influence shareholders' voting, manipulate the results of a vote, or harm the lawful rights and interests of other shareholders by tunneling, exchange of interests, or any other means. | | 4.2.1 上市公司股东大会的召集、召开、表决等应当遵守法律法规、本所相关规定及公司章程，应当平等对待全体股东，不得以利益输送、利益交换等方式影响股东的表决，操纵表决结果，损害其他股东的合法权益。 |
| 4.2.2 If shareholders convene a shareholders' general meeting on their own initiative, they shall notify the board of directors of the listed company in writing and file the relevant documents with the Exchange before delivering a notice of the shareholders' general meeting. If shareholders convene a shareholders' general meeting on their own initiative in accordance with the law, the board of directors and the board secretary of the company shall cooperate, provide necessary support, and perform disclosure obligations in a timely manner. | | 4.2.2 股东自行召集股东大会的，应当在发出股东大会通知前书面通知上市公司董事会并将有关文件报送本所。对于股东依法自行召集的股东大会，公司董事会和董事会秘书应当予以配合，提供必要的支持，并及时履行信息披露义务。 |
| Before disclosure of resolutions by the shareholders' general meeting, the convening shareholders shall have shareholdings of not less than 10 percent of the total share capital of the listed company. The convening shareholders shall disclose an announcement not later than the delivery of a notice of the general meeting, and undertake that their shareholdings will not be less than 10 percent of the total share capital of the company for the period from the date when the shareholders' general meeting is proposed to the date when the shareholders' general meeting is held. | | 在股东大会决议披露前，召集股东持股比例不得低于公司总股本的10％。召集股东应当在不晚于发出股东大会通知时披露公告，并承诺在提议召开股东大会之日至股东大会召开日期间，其持股比例不低于公司总股本的10%。 |
| 4.2.3 A convener shall deliver a notice of the shareholders' general meeting to shareholders by means of announcement within the notice period of the shareholders' general meeting as specified by laws and regulations. | | 4.2.3 召集人应当按照法律法规规定的股东大会通知期限，以公告方式向股东发出股东大会通知。 |
| The notice shall specify the time, the place and the form of the meeting and such other matters as the convener and the equity record date, and fully and completely disclose the details of all the proposals. The content of the proposals at the shareholders' general meeting shall comply with laws and regulations, the relevant regulations of the Exchange and the articles of association of the company, fall within the purview of the shareholders' general meeting, and have clear topics for discussion and matters to be decided. | | 股东大会通知中应当列明会议召开的时间、地点、方式以及会议召集人和股权登记日等事项，并充分、完整地披露所有提案的具体内容。股东大会的提案内容应当符合法律法规、本所相关规定和公司章程，属于股东大会职权范围，并有明确议题和具体决议事项。 |
| The convener shall disclose materials necessary for shareholders to make reasonable decisions on the matters intended to be discussed five days before the shareholders' general meeting. If it is necessary to make supplements to the materials for the shareholders' general meeting, the convener shall provide disclosure before the shareholders' general meeting. | | 召集人应当在召开股东大会5日前披露有助于股东对拟讨论的事项作出合理决策所必需的资料。需对股东大会会议资料进行补充的，召集人应当在股东大会召开日前予以披露。 |
| 4.2.4 The shareholders' general meeting of a listed company shall be held at a place in a physical manner in combination with online vote. The timing and place of the meeting should be convenient for shareholders to participate. After issuing the notice of the shareholders' general meeting, there shall be no change in the venue of the meeting without justified causes. If there is a need for change, the convener shall announce and explain the reasons at least 2 trading days before the live meeting date. | | 4.2.4 上市公司股东大会应当设置会场，以现场会议与网络投票相结合的方式召开。现场会议时间、地点的选择应当便于股东参加。发出股东大会通知后，无正当理由，股东大会现场会议召开地点不得变更。确需变更的，召集人应当在现场会议召开日前至少2个交易日公告并说明原因。 |
| The company shall open the channel of online voting so as to make it convenient for shareholders to attend the general meeting. Shareholders who attend the shareholders' general meeting through the above means shall be deemed present. | | 公司应当提供网络投票方式为股东参加股东大会提供便利。股东通过上述方式参加股东大会的，视为出席。 |
| 4.2.5 Where the board of directors, independent directors, or a shareholder holding more than 1 percent of voting shares of a listed company, or an investor protection institution formed in accordance with laws and regulations, publicly requests shareholders to authorize it to exercise the right to submit proposals and voting rights, among others, on their behalf, the solicitor shall disclose an announcement of solicitation and relevant solicitation documents in accordance with laws and regulations, and the company shall cooperate. The solicitor shall not publicly solicit proxies with payments or in a disguised form of payment. | | 4.2.5 上市公司董事会、独立董事、持有1%以上有表决权股份的股东或者依照法律法规设立的投资者保护机构公开请求股东委托其代为行使提案权、表决权等的，征集人应当依法依规披露征集公告和相关征集文件，公司应当予以配合。征集人不得以有偿或者变相有偿方式公开征集股东权利。 |
| 4.2.6 Once the notice of the shareholders' general meeting is given, without a justifiable reason, the shareholders' general meeting shall not be postponed or cancelled, nor shall the proposals specified in such notice be cancelled. In case of postponement or cancellation of the shareholders' general meeting or cancellation of a proposal, the convener shall, at least two trading days prior to the originally specified date of the meeting, publish an announcement explaining the specific reason therefor. If the shareholders' general meeting is postponed, the date to which the meeting is postponed shall also be disclosed. | | 4.2.6 发出股东大会通知后，无正当理由，股东大会不得延期或者取消，股东大会通知中列明的提案不得取消。一旦出现股东大会延期或者取消、提案取消的情形，召集人应当在原定会议召开日前至少2个交易日发布公告，说明延期或者取消的具体原因。延期召开股东大会的，还应当披露延期后的召开日期。 |
| 4.2.7 Where a temporary proposal is put forward by shareholders, the convener shall deliver a supplementary notice within the specified time limit and disclose therein the names and the shareholdings of the shareholders putting forward such proposal, as well as the contents thereof. | | 4.2.7 股东依法依规提出临时提案的，召集人应当在规定时间内发出股东大会补充通知，披露提出临时提案的股东姓名或者名称、持股比例和新增提案的内容。 |
| 4.2.8 A convener shall disclose an announcement of the resolutions by the shareholders' general meeting within a specified period after the conclusion of the shareholders' general meeting. The announcement of the resolutions by the shareholders' general meeting shall include without limitation the time, place, and method for holding the meeting, the convener, the number of shareholders (proxies) present at the meeting, shares (proxies) held and their proportion to total voting shares of the listed company, the method of voting on each proposal, the results of the vote on each proposal, and the conclusion of the legal opinion. | | 4.2.8 召集人应当在股东大会结束后的规定时间内披露股东大会决议公告。股东大会决议公告应当包括会议召开的时间、地点、方式、召集人、出席会议的股东（代理人）人数、所持（代理）股份及占上市公司有表决权股份总数的比例、每项提案的表决方式、每项提案的表决结果、法律意见书的结论性意见等。 |
| When the shareholders' general meeting deliberates on material matters affecting the interests of minority investors, the votes cast by shareholders other than the directors, supervisors and senior officers of the listed company and shareholders individually or in aggregate holding more than 5 percent of shares of the company shall be separately counted and disclosed. | | 股东大会审议影响中小投资者利益的重大事项时，应当对除上市公司董事、监事和高级管理人员以及单独或者合计持有公司5%以上股份的股东以外的其他股东的表决单独计票并披露。 |
| Lawyers shall be diligent and dutiful, and express opinions on whether the convening, holding, voting and other matters of the shareholders' general meeting comply with laws and regulations. The legal opinion shall be disclosed at the same time as the announcement of the resolutions by the shareholders' general meeting, and the content shall include an opinion on whether the procedures for convening and holding the meeting, the credentials of persons attending the meeting, the qualifications of the convener, the voting procedures (withdrawal of shareholders and other conditions), and the results of the vote are legal and valid. | | 律师应当勤勉尽责，对股东大会的召集、召开、表决等事项是否符合法律法规发表意见。法律意见书应当与股东大会决议公告同时披露，内容应当包括对会议的召集、召开程序、出席会议人员的资格、召集人资格、表决程序（股东回避等情况）以及表决结果等事项是否合法、有效出具的意见。 |
| If the Exchange so requires, the convener shall provide the minutes of the shareholders' general meeting. | | 本所要求提供股东大会会议记录的，召集人应当按本所要求提供。 |
| 4.2.9 A listed company and its shareholders, directors, supervisors and senior officers, among others, shall not disclose or divulge unpublished material information at the shareholders' general meeting. | | 4.2.9 上市公司及其股东、董事、监事和高级管理人员等在股东大会上不得透露、泄露未公开重大信息。 |
| 4.2.10 The board of directors of a listed company shall perform its duties in accordance with laws and regulations, the relevant regulations of the Exchange and the company's articles of association. The number of members and composition of the board of directors shall comply with laws and regulations, the relevant regulations of the Exchange and the articles of association of the company, and the members of the board of directors shall possess knowledge, skills and qualities necessary for performing their duties and comply with good professional ethics. | | 4.2.10 上市公司董事会应当按照法律法规、本所相关规定和公司章程履行职责。董事会的人数及人员构成应当符合法律法规、本所相关规定和公司章程，董事会成员应当具备履行职责所必需的知识、技能和素质，具备良好的职业道德。 |
| 4.2.11 A listed company shall convene and hold the meetings of the board of directors in accordance with laws and regulations, the relevant regulations of the Exchange and the company's articles of association. The resolutions by the board of directors shall be signed by the directors present at the meeting. If the Exchange so requires, the company shall submit the minutes of the meetings of the board of directors to the Exchange. | | 4.2.11 上市公司应当按照法律法规、本所相关规定和公司章程召集、召开董事会。董事会决议应当经与会董事签字确认。本所要求提供董事会会议记录的，公司应当按本所要求提供。 |
| If a company discloses the resolutions by the board of directors in accordance with the relevant regulations of the Exchange, the content of the announcement shall include without limitation the time and method of delivering the notices of the meetings, the time, places and method of holding the meeting, the number and names of directors who authorize others to attend the meetings and are absent, the reasons for absence and the names of directors authorized, the results of the vote on each proposal, and the reasons for the directors' objections or abstentions | | 公司按照本所相关规定应当披露董事会决议的，公告内容应当包括会议通知发出的时间和方式、会议召开的时间、地点和方式、委托他人出席和缺席的董事人数和姓名、缺席的理由和受托董事姓名、每项议案的表决结果以及有关董事反对或者弃权的理由等内容。 |
| If the resolutions by the board of directors are related to matters subject to deliberation by the shareholders' general meeting, or material matters as mentioned in laws and regulations and these Rules, the company shall separately disclose the announcement of the resolutions by the board of directors and the announcement of the relevant material matters. Material matters shall be announced in accordance with the relevant regulations of the CSRC or in the announcement format formulated by the Exchange. | | 董事会决议涉及须经股东大会审议的事项，或者法律法规、本规则所述重大事项，公司应当分别披露董事会决议公告和相关重大事项公告。重大事项应当按照中国证监会有关规定或者本所制定的公告格式进行公告。 |
| 4.2.12 A listed company shall establish an audit committee under the board of directors and its internal audit department shall be responsible and report to the audit committee. The company may establish strategy, nomination, compensation and assessment and other special committees, and perform their duties in accordance with the company's articles of association under the authority of the board of directors. | | 4.2.12 上市公司应当在董事会下设立审计委员会，内部审计部门对审计委员会负责，向审计委员会报告工作。公司可以设立战略、提名、薪酬与考核等专门委员会，按照公司章程和董事会授权履行职责。 |
| The members of the special committees shall be directors; in particular, independent directors shall be in the majority and serve as conveners on the audit committee, the nomination committee and the compensation and assessment committee, and the convener of the audit committee shall be an accounting professional, unless otherwise provided by laws and regulations. | | 专门委员会成员全部由董事组成，其中审计委员会、提名委员会、薪酬与考核委员会中独立董事应当占多数并担任召集人，审计委员会的召集人应当为会计专业人士，法律法规另有规定的除外。 |
| 4.2.13 The board of supervisors of a listed company shall perform its supervisory duties in strict accordance with laws and regulations, the relevant regulations of the Exchange and the company's articles of association. The members and structure of the board of supervisors shall ensure its ability to perform duties independently and effectively. Supervisors shall have corresponding expertise or work experience and corresponding ability to perform their duties, and comply with good professional ethics. No director or senior manager of the company shall concurrently serve as a supervisor. | | 4.2.13 上市公司监事会应当严格按照法律法规、本所相关规定和公司章程，切实履行监督职责。监事会的人员和结构应当确保能够独立有效地履行职责。监事应当具有相应的专业知识或者工作经验，具备相应的履职能力和良好的职业道德。公司董事、高级管理人员不得兼任监事。 |
| 4.2.14 A listed company shall convene and hold the meetings of the board of supervisors in accordance with laws and regulations, the relevant regulations of the Exchange and the company's articles of association, and disclose the resolutions by the board of supervisors in a timely manner. The resolutions of the board of supervisors shall be signed by the supervisors present at the meeting. When required by the Exchange, the company shall submit the minutes of the meetings of the board of supervisors to the Exchange. | | 4.2.14 上市公司应当按照法律法规、本所相关规定和公司章程召集、召开监事会，并及时披露监事会决议。监事会决议应当经与会监事签字确认。本所要求提供监事会会议记录的，公司应当按本所要求提供。 |
| The announcement of the resolutions by the board of supervisors shall include without limitation the time and method of delivering the notices of the meetings, the time, places and method of convening the meeting, the supervisors who authorize others to attend the meetings and are absent, the results of the vote on each proposal, the reasons for the supervisors' objections or abstentions, the specific content of the matters to be deliberated and the resolutions formed at the meetings. | | 监事会决议公告应当包括会议通知发出的时间和方式、会议召开的时间、地点和方式、委托他人出席和缺席的监事情况、每项议案的表决结果以及有关监事反对或者弃权的理由、审议事项的具体内容和会议形成的决议等。 |
| 4.2.15 If the shareholders' general meeting or a meeting of the board of directors or the board of supervisors of a listed company cannot be held normally, or there is a dispute over the validity of its resolution, the relevant matters, the contentions of the parties to the dispute, the current conditions of the company, and other information facilitating investors' understanding of the actual circumstances of the company and special legal opinions issued by lawyers shall be disclosed. | | 4.2.15 上市公司股东大会、董事会或者监事会不能正常召开或者决议效力存在争议的，应当及时披露相关事项、争议各方的主张、公司现状等有助于投资者了解公司实际情况的信息，以及律师出具的专项法律意见书。 |
| If there is the circumstance specified in the preceding paragraph, the board of directors of the company shall maintain the normal production and operation order of the company, protect the interests of the company and all shareholders, and treat all shareholders fairly. | | 出现前款规定情形的，公司董事会应当维护公司正常生产经营秩序，保护公司及全体股东利益，公平对待所有股东。 |
| Section 3 Directors, Supervisors and Senior Officers | | 第三节 董事、监事和高级管理人员 |
| 4.3.1 The directors, supervisors and senior officers of a listed company shall comply and guarantee the company's compliance with laws and regulations, the relevant regulations of the Exchange and the articles of association of the company, faithfully and diligently perform their duties, strictly perform their various declarations and undertakings, effectively perform reporting and information disclosure obligations, safeguard the interests of the listed company and all shareholders, and actively cooperate with the Exchange in daily regulation. | | 4.3.1 上市公司董事、监事和高级管理人员应当遵守并保证公司遵守法律法规、本所相关规定和公司章程，忠实、勤勉履职，严格履行其作出的各项声明和承诺，切实履行报告和信息披露义务，维护上市公司和全体股东利益，并积极配合本所的日常监管。 |
| 4.3.2 A director's term of office shall not exceed 3 years, and may be eligible for re-election upon expiry. If a director is elected by the shareholders' general meeting, the shareholders' general meeting may remove the director from his office before the expiration of his term of office. | | 4.3.2 董事每届任期不得超过3年，任期届满可连选连任。董事由股东大会选举产生的，股东大会可以在董事任期届满前解除其职务。 |
| 4.3.3 A candidate under any of the following circumstances shall not be nominated as a director, supervisor or senior officer of a listed company: | | 4.3.3 候选人存在下列情形之一的，不得被提名担任上市公司董事、监事和高级管理人员： |
| (1) circumstances as specified by the Company Law under which the office of director, supervisor or senior officer shall not be held; | | （一）《公司法》规定不得担任董事、监事和高级管理人员的情形； |
| (2) subjected by the CSRC to the market access prohibition measures by which the office of director, supervisor or senior officer shall not be held, for a period which has not expired; | | （二）被中国证监会采取不得担任上市公司董事、监事和高级管理人员的市场禁入措施，期限尚未届满； |
| (3) publicly determined by the stock exchange as unsuitable for the office of director, supervisor or senior officer of a listed company, for a period which has not expired; and | | （三）被证券交易所公开认定为不适合担任上市公司董事、监事和高级管理人员，期限尚未届满； |
| (4) other circumstances prescribed by laws and regulations and the Exchange. | | （四）法律法规、本所规定的其他情形。 |
| The above periods shall be measured up to the date on which the board of directors, the shareholders' general meeting and other competent bodies of the company deliberate on the proposals for the appointment of directors, supervisors and senior officers. | | 上述期间以公司董事会、股东大会等有权机构审议董事、监事和高级管理人员候选人聘任议案的日期为截止日。 |
| If a director, supervisor or senior officer falls under any circumstance in sub-paragraphs (1) and (2) of paragraph 1 during his term of office, or an independent director falls under circumstances of failure to meet the conditions for independence, the relevant director, supervisor or senior officer shall immediately stop performing his duties, and the company shall remove him from office in accordance with the relevant regulations. | | 董事、监事和高级管理人员在任职期间出现第一款第（一）项、第（二）项情形或者独立董事出现不符合独立性条件情形的，相关董事、监事和高级管理人员应当立即停止履职并由公司按相应规定解除其职务。 |
| If a director, supervisor or senior officer falls under any circumstance in sub-paragraphs (3) and (4) of paragraph 1 during his term of office, the company shall remove him from office within one month after the date of the fact, unless otherwise required by the Exchange. | | 董事、监事和高级管理人员在任职期间出现第一款第（三）项、第（四）项情形的，公司应当在该事实发生之日起1个月内解除其职务，本所另有规定的除外。 |
| If the relevant director or supervisor who fails to be removed from office as required participates in a meeting of the board of directors or the board of supervisors and casts his vote, the vote shall be invalid. | | 相关董事、监事应被解除职务但仍未解除，参加董事会、监事会会议并投票的，其投票无效。 |
| 4.3.4 A director, supervisor or senior officer of a listed company, before the initial public offering and listing of the company's stocks, or a newly appointed director, supervisor or senior officer, within one month after his appointment, shall sign a Director's, Supervisor's, or Officer's Declaration and Undertaking, and file it with the Exchange and the board of directors of the company. In case of any change in declaration and undertaking matters other than that in the shareholding in the company, the director, supervisor or senior officer shall, within five trading days, update and file with the Exchange and the board of directors of the company the Director's, Supervisor's, or Officer's Declaration and Undertaking. | | 4.3.4 上市公司的董事、监事和高级管理人员在公司股票首次公开发行并上市前，新任董事、监事和高级管理人员在获得任命后1个月内，应当按照本所相关规定签署《董事（监事、高级管理人员）声明及承诺书》，并报送本所和公司董事会。声明与承诺事项发生重大变化的（持有本公司的股票情况除外），董事、监事和高级管理人员应当在5个交易日内更新并报送本所和公司董事会。 |
| The directors, supervisors and senior officers shall guarantee that the matters they have declared are truthful, accurate and complete and no misrepresentations, misleading statements and major omissions are contained therein. The above persons shall sign the Declaration and Undertaking with regard to Directors (Supervisors or Senior Officers) in the presence of attorneys. | | 董事、监事和高级管理人员应当保证声明事项的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏。上述人员签署《董事（监事、高级管理人员）声明及承诺书》时，应当由律师见证。 |
| The secretary to the board of directors shall procure that the directors, supervisors and senior officers shall sign the Declaration and Undertaking with regard to Directors (Supervisors or Senior Officers) in a timely manner, and then submit it in such a manner and through such a channel as specified by the Exchange. | | 董事会秘书应当督促董事、监事和高级管理人员及时签署《董事（监事、高级管理人员）声明及承诺书》，并按本所规定的途径和方式提交。 |
| 4.3.5 A director of a listed company shall act actively and have duties of loyalty and diligence to the company. | | 4.3.5 上市公司董事应当积极作为，对公司负有忠实义务和勤勉义务。 |
| The director of the company shall perform the following duties of loyalty and diligence: | | 公司董事应当履行以下忠实义务和勤勉义务： |
| (1) the director shall treat all shareholders fairly; | | （一）公平对待所有股东； |
| (2) the director shall protect the safety and integrity of the company's assets, and shall not seek benefit for the de facto controller, shareholders or employees of the company, the director or any other third party at the cost of benefit for the company, by taking advantage of his office; | | （二）保护公司资产的安全、完整，不得利用职务之便为公司实际控制人、股东、员工、本人或者其他第三方的利益而损害公司利益； |
| (3) without the consent of the shareholders' general meeting, the director shall neither seek business opportunities that belong to the company for the director or his close family members nor conduct or authorize another person to conduct the same kind of business as the company; | | （三）未经股东大会同意，不得为本人及其关系密切的家庭成员谋取属于公司的商业机会，不得自营、委托他人经营公司同类业务； |
| (4) the director shall keep trade secrets, without divulging material information that the company has not disclosed or seeking improper benefit by using insider information, and perform the non-compete obligations agreed upon with the company after departure; | | （四）保守商业秘密，不得泄露公司尚未披露的重大信息，不得利用内幕信息获取不当利益，离职后应当履行与公司约定的竞业禁止义务； |
| (5) the director shall guarantee that he has sufficient time and energy to participate in the company's affairs, and attend the meetings of the board of directors in person in principle, and if the director is unable to attend a meeting of the board of directors for some reason, the director shall prudentially select an authorized representative, specifying matters to be acted upon and intended decisions, and shall not grant discretionary authority; | | （五）保证有足够的时间和精力参与公司事务，原则上应当亲自出席董事会，因故不能亲自出席董事会的，应当审慎地选择受托人，授权事项和决策意向应当具体明确，不得全权委托； |
| (6) the director shall prudentially judge the possible risks carried and benefits delivered by the matters deliberated by the board of directors of the company, and express unequivocal opinions on the matters under discussion; if the director casts negative vote or abstains from voting at a meeting of the board of directors of the company, the director shall clearly disclose the reasons and basis for the voting intention and improvement recommendations or measures; | | （六）审慎判断公司董事会审议事项可能产生的风险和收益，对所议事项表达明确意见；在公司董事会投反对票或者弃权票的，应当明确披露投票意向的原因、依据、改进建议或者措施； |
| (7) the director shall carefully read all operating and financial reports of and media reports on the company, gain a timely understanding of and continue to pay attention to the business operation and management conditions of the company, the material matters of the company that have occurred or may occur and their impacts, and report to the board of directors on the problems in operating activities of the company, and shall not shirk his responsibility on the grounds that he is not directly engaged in operation and management or of lack of knowledge or unfamiliarity; | | （七）认真阅读公司的各项经营、财务报告和媒体报道，及时了解并持续关注公司业务经营管理状况和公司已发生或者可能发生的重大事项及其影响，及时向董事会报告公司经营活动中存在的问题，不得以不直接从事经营管理或者不知悉、不熟悉为由推卸责任； |
| (8) the director shall pay attention to whether the company has problems, among others, that related parties or potential related parties misappropriate funds or otherwise embezzle the interests of the company, and report to the board of directors in a timely manner on any abnormal conditions, if discovered, in addition to taking corresponding measures; | | （八）关注公司是否存在被关联人或者潜在关联人占用资金等侵占公司利益的问题，如发现异常情况，及时向董事会报告并采取相应措施； |
| (9) the director shall carefully read the financial reports of the company, pay attention to whether there are material errors in the preparation of or omissions in the financial reports, whether there are significant fluctuations in main accounting data and financial indicators, and whether the explanation on the reasons for the fluctuations is reasonable, and voluntarily conduct an investigation or require the board of directors to provide additional required materials or information, if he has any doubt about the financial reports; | | （九）认真阅读公司财务会计报告，关注财务会计报告是否存在重大编制错误或者遗漏，主要会计数据和财务指标是否发生大幅波动及波动原因的解释是否合理；对财务会计报告有疑问的，应当主动调查或者要求董事会补充提供所需的资料或者信息； |
| (10) the director shall actively promote the well-regulated operation of the company, urge the company to perform its disclosure obligations in accordance with laws and regulations, correct and report the violation of regulations by the company in a timely manner, and support the company in fulfilling its social responsibility; and | | （十）积极推动公司规范运行，督促公司依法依规履行信息披露义务，及时纠正和报告公司的违规行为，支持公司履行社会责任； |
| (11) other duties of loyalty and diligence as specified by laws and regulations, the relevant regulations of the Exchange and the articles of association of the company. | | （十一）法律法规、本所相关规定和公司章程规定的其他忠实义务和勤勉义务。 |
| The supervisors and senior officers of the company shall perform their duties in accordance with the provisions of the preceding paragraph, mutatis mutandis. | | 公司监事和高级管理人员应当参照前款规定履行职责。 |
| 4.3.6 The directors, supervisors and senior officers of a listed company shall pay attention to the pledging of shares by the controlling shareholder of the company and parties acting in concert therewith, and prudentially check and assess the impact which the pledging of a high percentage of shares by the controlling shareholder of the company and parties acting in concert therewith may have on the control, production and operating stability, equity structure, corporate governance, and fulfillment of earnings compensation obligations of the company, among others, in accordance with regulations. | | 4.3.6 上市公司董事、监事和高级管理人员应当关注公司控股股东及其一致行动人质押股份情况，按规定审慎核查、评估公司控股股东及其一致行动人的高比例质押行为可能对公司控制权和生产经营稳定性、股权结构、公司治理、业绩补偿义务履行等产生的影响。 |
| 4.3.7 When a listed company discloses notice of the shareholders' general meeting for the election of independent directors, it shall file with the Exchange all the relevant materials of the candidates (including but not limited to the nominator's statement, the candidate's statement and the candidates' curricula vitae.) | | 4.3.7 上市公司在披露召开关于选举独立董事的股东大会通知时，应当将所有独立董事候选人的有关材料（包括但不限于提名人声明、候选人声明、独立董事履历表）报送本所。 |
| Where the board of directors of the listed company objects to any independent director candidate, the company shall submit the written opinions of its board of directors as well. | | 公司董事会对独立董事候选人的有关情况有异议的，应当同时报送董事会的书面意见。 |
| When the shareholders' general meeting is held to elect independent directors, the board of directors of the company shall explain whether the Exchange objects to any independent director candidate. For any independent director candidate to whom the Exchange objects, the company shall not submit the candidate to the shareholders' general meeting for a vote. | | 在召开股东大会选举独立董事时，公司董事会应当对独立董事候选人是否被本所提出异议的情况进行说明。对于本所提出异议的独立董事候选人，公司不得将其提交股东大会表决。 |
| 4.3.8 An independent director of a listed company shall perform his duties independently and impartially, fully understand the operating conditions of the company, urge the company and the board of directors to operate in a well-regulated manner, and safeguard the interests of the company and the lawful rights and interests of minority shareholders. The independent director shall focus on the matters of the company such as related party transactions, external guarantees, application of proceeds, protection of public shareholders, major asset restructuring, material investment and financing activities, compensation of directors and senior officers, profit distribution and information disclosure. | | 4.3.8 上市公司独立董事应当独立、公正地履行职责，充分了解公司经营运作情况，督促公司、公司董事会规范运作，维护公司利益及中小股东合法权益。独立董事应当重点关注公司的关联交易、对外担保、募集资金使用、社会公众股股东保护、重大资产重组、重大投融资活动、董事和高级管理人员的薪酬、利润分配和信息披露等事项。 |
| The independent director may propose convening a meeting of the board of directors, propose the holding of the shareholders' general meeting to the board of directors, or retain a CPA firm and other intermediaries to audit, check or express opinions on relevant matters. | | 独立董事可以提议召开董事会、向董事会提议召开股东大会，或者聘请会计师事务所等中介机构对相关事项进行审计、核查或者发表意见。 |
| 4.3.9 A supervisor of a listed company shall supervise the compliance with laws and regulations, the relevant regulations of the Exchange and the company's articles of association, the performance of the duties of their office in the company, the implementation of the resolutions by the shareholders' general meeting, and other acts by the directors and senior officers of the company. Directors and senior officers shall truthfully provide relevant information and materials to supervisors, and shall not obstruct supervisors in exercising their powers. | | 4.3.9 上市公司监事应当对公司董事、高级管理人员遵守法律法规、本所相关规定和公司章程以及执行公司职务、股东大会决议等行为进行监督。董事、高级管理人员应当如实向监事提供有关情况和资料，不得妨碍监事行使职权。 |
| In the process of performing supervisory duties, a supervisor may propose removal of directors and senior officers who violate the relevant provisions or resolutions of the preceding paragraph. | | 监事在履行监督职责过程中，对违反前款相关规定或者决议的董事、高级管理人员，可以提出罢免建议。 |
| If a supervisor discovers that a director or senior officer of the company causes or may cause heavy loss to the company by violating the relevant provisions or resolutions of the first paragraph of this Subsection or any other act injurious to the interests of the company, the supervisor shall report to the board of directors and the board of supervisors in a timely manner, require the relevant party to take corrective action, and report to the Exchange. | | 监事发现公司董事、高级管理人员违反本条第一款相关规定或者决议，或者存在其他损害公司利益行为的，已经或者可能给公司造成重大损失的，应当及时向董事会、监事会报告，要求相关方予以纠正，并向本所报告。 |
| 4.3.10 A director, supervisor or senior officer of a listed company contemplating resignation shall submit a written resignation letter. Except under the following circumstances, the resignation of a director or supervisor shall take effect when his resignation letter is served on the board of directors or the board of supervisors: | | 4.3.10 上市公司董事、监事和高级管理人员辞职应当提交书面辞职报告。除下列情形外，董事或者监事的辞职自辞职报告送达董事会或者监事会时生效： |
| (1) the resignation of the director or supervisor causes the members of the board of directors or the board of supervisors to be less than a quorum; | | （一）董事、监事辞职导致董事会、监事会成员低于法定最低人数； |
| (2) the resignation of the supervisor causes employee representative supervisors to be less than one-third of the members of the board of supervisors, in the case of an employee representative supervisor; and | | （二）职工代表监事辞职导致职工代表监事人数少于监事会成员的三分之一； |
| (3) the resignation of the director causes independent directors to be less than one-third of the members of the board of directors or the absence of an accounting professional among independent directors, in the case of an independent director. | | （三）独立董事辞职导致独立董事人数少于董事会成员的三分之一或者独立董事中没有会计专业人士。 |
| Under the circumstances as mentioned in the preceding paragraph, the resignation letter may take effect only after the next director or supervisor fills the vacancy arising from his resignation. Before the resignation letter takes effect, the director or supervisor contemplating resignation shall continue to perform their duties in accordance with laws and regulations, the relevant regulations of the Exchange and the company's articles of association, except under the circumstances as specified in Article 4.3.3 of these Rules. | | 出现前款情形的，辞职报告应当在下任董事或者监事填补因其辞职产生的空缺后方能生效。在辞职报告生效前，拟辞职董事或者监事仍应当按照法律法规、本所相关规定和公司章程继续履行职责，但存在本规则第4.3.3条规定情形的除外。 |
| Section 4 Secretary to the Board of Directors | | 第四节 董事会秘书 |
| 4.4.1 A listed company shall appoint a secretary to the board of directors to serve as the designated point of contact between the company and the Exchange. | | 4.4.1 上市公司应当设立董事会秘书，作为公司与本所之间的指定联络人。 |
| A listed company must establish an information disclosure department and put the secretary to the board of directors (hereinafter, the board secretary) in charge of the department. | | 公司应当设立由董事会秘书负责管理的信息披露事务部门。 |
| 4.4.2 The board secretary shall be accountable to the listed company and the board of directors and perform the following duties: | | 4.4.2 董事会秘书对上市公司和董事会负责，履行如下职责： |
| (1) responsible for disclosing the company's information, coordinating corporate disclosure work, organizing the establishment of management systems for information disclosure, and urging the company and the relevant persons with disclosure obligations to observe relevant disclosure regulations; | | （一）负责公司信息披露事务，协调公司信息披露工作，组织制定公司信息披露事务管理制度，督促公司及相关信息披露义务人遵守信息披露相关规定； |
| (2) responsible for investor relationship management, coordinating communications between the company and the securities regulatory authority, investors, de facto controllers, intermediaries and public media; | | （二）负责投资者关系管理，协调公司与证券监管机构、投资者及实际控制人、中介机构、媒体等之间的信息沟通； |
| (3) preparing and organizing the meeting of the board of directors (hereinafter, the board meeting) and the shareholders' general meeting, attending the shareholders' general meeting, the board meeting, the meeting of the board of supervisors and senior officers' meeting, and keeping and signing the minutes of the board meeting; | | （三）筹备组织董事会会议和股东大会会议，参加股东大会会议、董事会会议、监事会会议及高级管理人员相关会议，负责董事会会议记录工作并签字； |
| (4) responsible for confidentiality with respect to information disclosure, and reporting to the Exchange and making disclosure immediately whenever any non-published material information is leaked; | | （四）负责公司信息披露的保密工作，在未公开重大信息泄露时，立即向本所报告并披露； |
| (5) paying close attention to media coverage on the company and ascertaining the truth, and urging the company and other relevant parties to respond to the inquiries of the Exchange in a timely manner; | | （五）关注媒体报道并主动求证真实情况，督促公司等相关主体及时回复本所问询； |
| (6) organizing trainings for directors, supervisors and senior officers on relevant laws and regulations and the relevant regulations of the Exchange, and helping them have a clear grasp of their respective responsibilities in information disclosure; | | （六）组织公司董事、监事和高级管理人员就相关法律法规、本所相关规定进行培训，协助前述人员了解各自在信息披露中的职责； |
| (7) urging directors, supervisors and senior officers to comply with laws and regulations, the relevant regulations of the Exchange and the company's articles of association and effectively perform their undertakings; and giving warnings and reporting to the Exchange immediately when acquiring knowledge that the company, directors, supervisors and senior officers adopt or may adopt a resolution which violates the relevant regulations; | | （七）督促董事、监事和高级管理人员遵守法律法规、本所相关规定和公司章程，切实履行其所作出的承诺；在知悉公司、董事、监事和高级管理人员作出或者可能作出违反有关规定的决议时，应当予以提醒并立即如实向本所报告； |
| (8) responsible for the management of changes in the company's stocks and derivatives thereon; and | | （八）负责公司股票及其衍生品种变动管理事务； |
| (9) other duties required by laws and regulations and the Exchange. | | （九）法律法规和本所要求履行的其他职责。 |
| 4.4.3 A listed company shall provide conveniences for the board secretary to perform his duties. The directors, supervisors, financial officer, other senior officers and relevant persons of the company shall support and cooperate with the board secretary in his work. | | 4.4.3 上市公司应当为董事会秘书履行职责提供便利条件，董事、监事、财务负责人及其他高级管理人员和相关工作人员应当支持、配合董事会秘书的工作。 |
| In the performance of his duties, the board secretary shall be entitled to look into the financial and operating conditions of the company, participate in disclosure-related meetings, consult relevant documents, and require the relevant departments and persons of the company to furnish relevant materials and information in a timely manner. | | 董事会秘书为履行职责，有权了解公司的财务和经营情况，参加涉及信息披露的有关会议，查阅相关文件，并要求公司有关部门和人员及时提供相关资料和信息。 |
| In case that the board secretary meets with improper interference or serious obstruction in the performance of his duties, he may report directly to the Exchange. | | 董事会秘书在履行职责的过程中受到不当妨碍或者严重阻挠时，可以直接向本所报告。 |
| 4.4.4 The board secretary of a listed company shall have financial, management and legal expertise as required for performing his duties, and have good professional and personal ethics. Any of the following persons shall not serve as the board secretary of a listed company: | | 4.4.4 上市公司董事会秘书应当具备履行职责所必需的财务、管理、法律等专业知识，具有良好的职业道德和个人品质。具有下列情形之一的人士不得担任董事会秘书： |
| (1) he falls under the circumstances as specified in Section 4.3.3 of these Rules under which the office of director, supervisor or senior officer shall not be held in a listed company; | | （一）本规则第4.3.3条规定的不得担任上市公司董事、监事或者高级管理人员的情形； |
| (2) he has been subject to any administrative sanction from the CSRC in the most recent three years; | | （二）最近3年受到过中国证监会的行政处罚； |
| (3) he has been censured publicly or criticized more than three times through circulating notices by stock exchanges in the most recent three years; | | （三）最近3年受到过证券交易所公开谴责或者3次以上通报批评； |
| (4) he is the incumbent supervisor of the company; or | | （四）本公司现任监事； |
| (5) other persons deemed by the Exchange as inappropriate for serving the position. | | （五）本所认定不适合担任董事会秘书的其他情形。 |
| 4.4.5 A listed company shall, within three months since the listing of its IPO stocks or within three months since the former secretary leaves office, appoint a board secretary. | | 4.4.5 上市公司应当在首次公开发行的股票上市后3个月内或者原任董事会秘书离职后3个月内聘任董事会秘书。 |
| 4.4.6 During the period the office of the board secretary of a listed company is vacant, the board of directors shall designate one director or senior officer to perform the duties of the board secretary, and report to the Exchange. Meanwhile, it shall determine the board secretary as soon as practicably possible. Before the company designates a person to perform the duties of the board secretary, the board chairman of the company shall perform such duties in place of the board secretary. | | 4.4.6 上市公司董事会秘书空缺期间，董事会应当及时指定一名董事或者高级管理人员代行董事会秘书的职责并向本所报告，同时尽快确定董事会秘书的人选。公司指定代行董事会秘书职责的人员之前，由公司董事长代行董事会秘书职责。 |
| If the vacancy remains unfilled for more than three months, the board chairman shall perform the duties of the board secretary, and the appointment of a board secretary shall be completed within six months. | | 公司董事会秘书空缺时间超过3个月的，董事长应当代行董事会秘书职责，并在6个月内完成董事会秘书的聘任工作。 |
| 4.4.7 A listed company shall appoint a securities affairs representative to assist the board secretary in performing his duties. In case that the board secretary is unable to perform his duties, the securities affairs representative shall perform the duties in place of the board secretary. Under such circumstances, the board secretary shall not be naturally exempt from his responsibilities for corporate disclosure and other affairs. | | 4.4.7 上市公司应当聘任证券事务代表协助董事会秘书履行职责。在董事会秘书不能履行职责时，证券事务代表应当代为履行职责。在此期间，并不当然免除董事会秘书对公司信息披露等事务所负有的责任。 |
| The conditions under Section 4.4.4 of these Rules shall apply mutatis mutandis to the office of securities affairs representative. | | 证券事务代表的任职条件参照本规则第4.4.4条执行。 |
| 4.4.8 After a listed company appoints a board secretary and a securities affairs representative, it shall publish an announcement and submit the following materials to the Exchange in a timely manner: | | 4.4.8 上市公司聘任董事会秘书、证券事务代表后，应当及时公告并向本所提交下列资料： |
| (1) recommendation letter of the board of directors, including statement on the board secretary and securities affairs representative's compliance with the qualification requirements set forth in these Rules, current position, performance record, and character and conduct; | | （一）董事会推荐书，包括董事会秘书、证券事务代表符合本规则规定的任职条件的说明、现任职务、工作表现、个人品德等内容； |
| (2) resume and a photocopy of the academic certificate of the board secretary and securities affairs representative; | | （二）董事会秘书、证券事务代表个人简历和学历证明复印件； |
| (3) letters of appointment for the board secretary and the securities affairs representative or relevant resolutions of the board meeting; and | | （三）董事会秘书、证券事务代表聘任书或者相关董事会决议； |
| (4) contact details of the board secretary and the securities affairs representative, including office phone numbers, mobile phone numbers, facsimile numbers, correspondence addresses and e-mails, etc. | | （四）董事会秘书、证券事务代表的通讯方式，包括办公电话、移动电话、传真、通信地址及专用电子邮箱地址等。 |
| In case of any changes in the aforesaid contact details, the company shall submit the updated information to the Exchange in a timely manner. | | 上述有关通讯方式的资料发生变更时，公司应当及时向本所提交变更后的资料。 |
| 4.4.9 A listed company shall not dismiss the board secretary without sufficient reasons. | | 4.4.9 上市公司解聘董事会秘书应当有充分的理由，不得无故将其解聘。 |
| If the board secretary is dismissed or resigns from his position, the company shall, in a timely manner, report to the Exchange stating reasons therefor and make an announcement. | | 董事会秘书被解聘或者辞职时，公司应当及时向本所报告，说明原因并公告。 |
| The board secretary may submit to the Exchange a personal statement on the company's improper dismissal or other matters related to the resignation. | | 董事会秘书可以就被公司不当解聘或者与辞职有关的情况，向本所提交个人陈述报告。 |
| 4.4.10 Upon the occurrence of any of the following circumstances, a listed company shall dismiss the board secretary within one month from the date when such circumstance comes into existence: | | 4.4.10 董事会秘书具有下列情形之一的，上市公司应当自相关事实发生之日起1个月内将其解聘： |
| (1) any of the circumstances enumerated in Section 4.4.4 of these Rules; | | （一）出现本规则第4.4.4条规定的任何一种情形； |
| (2) the board secretary is unable to perform his duties for more than three months in a row; | | （二）连续3个月以上不能履行职责； |
| (3) the board secretary commits a major mistake or gross negligence in the performance of his duties, thus causing heavy losses to the company and investors; or | | （三）在履行职责时出现重大错误或者疏漏，给公司、投资者造成重大损失； |
| (4) the board secretary violates laws and regulations, the relevant regulations of the Exchange, or the articles of association of the company, thus causing heavy losses to the company and investors. | | （四）违反法律法规、本所相关规定和公司章程等，给公司、投资者造成重大损失。 |
| 4.4.11 A listed company shall appoint its board secretary, the person who performs the duties of board secretary, and the securities affairs representative to be responsible for liaising with the Exchange and handling information disclosure, management of changes in stocks and derivatives thereon and other affairs in the name of the listed company. | | 4.4.11 上市公司应当指派董事会秘书和代行董事会秘书职责的人员、证券事务代表负责与本所联系，以上市公司名义办理信息披露、股票及其衍生品种变动管理等事务。 |
| Section 5 Controlling Shareholders and De Facto Controllers | | 第五节 控股股东和实际控制人 |
| 4.5.1 The controlling shareholder and de facto controller of a listed company shall be honest and trustworthy, exercise shareholder rights in accordance with laws and regulations, perform shareholder obligations, strictly perform their undertakings and safeguard the common interests of the company and all shareholders. | | 4.5.1 上市公司控股股东、实际控制人应当诚实守信，依法依规行使股东权利、履行股东义务，严格履行承诺，维护公司和全体股东的共同利益。 |
| The controlling shareholder and de facto controller shall safeguard the independence of the company, and shall not seek illegal benefits or misappropriate the funds and other resources of the company by using their controlling position over the company. | | 控股股东、实际控制人应当维护公司独立性，不得利用对公司的控制地位谋取非法利益、占用公司资金和其他资源。 |
| The controlling shareholder and de facto controller of the company shall neither obstruct the company or the relevant persons with disclosure obligations in disclosing information nor arrange for or instruct the company or the relevant persons with disclosure obligations to engage in information disclosure violations. | | 公司控股股东、实际控制人不得妨碍公司或者相关信息披露义务人披露信息，不得组织、指使公司或者相关信息披露义务人从事信息披露违法行为。 |
| 4.5.2 The controlling shareholder and de facto controller of a listed company shall perform the following duties: | | 4.5.2 上市公司控股股东、实际控制人应当履行下列职责： |
| (1) they shall comply with and urge the company to comply with laws and regulations, the relevant regulations of the Exchange and the articles of association of the company, and accept the supervision of the Exchange; | | （一）遵守并促使公司遵守法律法规、本所相关规定和公司章程，接受本所监管； |
| (2) they shall exercise shareholder rights in accordance with the law, and shall not abuse their control to harm the lawful rights and interests of the company or other shareholders; | | （二）依法行使股东权利，不滥用控制权损害公司或者其他股东的合法权益； |
| (3) they shall strictly perform their public declarations and undertakings, and shall not change or release themselves from such public declarations and undertakings without authorization; | | （三）严格履行所作出的公开声明和各项承诺，不擅自变更或者解除； |
| (4) they shall perform disclosure obligations in strict accordance with relevant regulations; | | （四）严格按照有关规定履行信息披露义务； |
| (5) they shall not misappropriate company funds in violation of laws and regulations in any manner; | | （五）不得以任何方式违法违规占用公司资金； |
| (6) they shall not force, instruct or require the listed company and relevant persons to grant guarantees in violation of laws and regulations; | | （六）不得强令、指使或者要求上市公司及相关人员违法违规提供担保； |
| (7) they shall neither seek benefits by using the unpublished material information of the company, nor divulge unpublished material information related to the company in any manner, nor engage in insider trading, short-swing trading, market manipulation, and other violations of laws and regulations; | | （七）不得利用公司未公开重大信息谋取利益，不得以任何方式泄露与公司有关的未公开重大信息，不得从事内幕交易、短线交易、操纵市场等违法违规行为； |
| (8) they shall not harm the lawful rights and interests of the company and other shareholders by unfair related party transactions, profit distribution, asset restructuring, external investment, or any other means; | | （八）不得通过非公允的关联交易、利润分配、资产重组、对外投资等任何方式损害公司和其他股东的合法权益； |
| (9) they shall guarantee the integrity of assets and independence of personnel, finance, bodies and business of the company, and shall not affect the independence of the company in any manner; | | （九）保证公司资产完整、人员独立、财务独立、机构独立和业务独立，不得以任何方式影响公司的独立性； |
| (10) other duties that shall be performed as deemed by the Exchange. | | （十）本所认为应当履行的其他职责。 |
| The controlling shareholder and de facto controller shall explicitly undertake that if the controlling shareholder, de facto controller and their related parties misappropriate company funds or require the company to grant a guarantee in violation of laws and regulations, they will not transfer shares of the company held or controlled by them until full repayment of the misappropriated funds or full termination of the illegal guarantee, unless the proceeds of the transfer of such shares are intended to repay the misappropriated funds and terminate the illegal guarantee. | | 控股股东、实际控制人应当明确承诺，如存在控股股东、实际控制人及其关联人占用公司资金、要求公司违法违规提供担保的，在占用资金全部归还、违规担保全部解除前不转让所持有、控制的公司股份，但转让所持有、控制的公司股份所得资金用以清偿占用资金、解除违规担保的除外。 |
| 4.5.3 The controlling shareholder and de facto controller of a listed company shall perform their disclosure obligations, and guarantee that the disclosed information is truthful, accurate, complete, timely and fair and contain no misrepresentations, misleading statements or material omissions. If the controlling shareholder and de facto controller are questioned by the company, they shall understand the conditions in a timely manner to reply, and guarantee that the content of the reply is truthful, accurate and complete. | | 4.5.3 上市公司控股股东、实际控制人应当履行信息披露义务，并保证披露信息的真实、准确、完整、及时、公平，不得有虚假记载、误导性陈述或者重大遗漏。控股股东、实际控制人收到公司问询的，应当及时了解情况并回复，保证回复内容真实、准确和完整。 |
| If the controlling shareholder and de facto controller fall under any of the following circumstances, they shall notify the listed company in a timely manner and cooperate with the company in performing disclosure obligations: | | 控股股东、实际控制人出现下列情形之一的，应当及时告知上市公司，并配合公司履行信息披露义务： |
| (1) a significant change occurs in their shareholding or control of the company, or in the condition of the business engaged in by the de facto controller of the company and another enterprise under its control identical or similar to that of the company; | | （一）持有股份或者控制公司的情况发生较大变化，公司的实际控制人及其控制的其他企业从事与公司相同或者相似业务的情况发生较大变化； |
| (2) a court makes an adjudication to prohibit the transfer of the shares they hold, or more than 5 percent of shares of the company they hold are pledged, frozen, judicially marked, auctioned off by judicial department, placed in custody or trust, or lawfully restricted from being voted, among others, or carry the risk of forced transfer. | | （二）法院裁决禁止转让其所持股份，所持公司5%以上股份被质押、冻结、司法标记、司法拍卖、托管、设定信托或者被依法限制表决权等，或者出现被强制过户风险； |
| (3) a major asset restructuring, debt restructuring or business restructuring is intended for the company; | | （三）拟对公司进行重大资产重组、债务重组或者业务重组； |
| (4) they are subject to a bankruptcy or dissolution proceeding because of deterioration of operating conditions; | | （四）因经营状况恶化进入破产或者解散程序； |
| (5) there are rumors related to the controlling shareholder and de facto controller, which may have a significant impact on the trading prices of the company's stocks and derivatives thereon; | | （五）出现与控股股东、实际控制人有关的传闻，对公司股票及其衍生品种交易价格可能产生较大影响； |
| (6) they receive a criminal penalty, or are under investigation in a case filed by the CSRC on suspicion of violation of laws and regulations, or receive an administrative penalty from the CSRC, or a material administrative penalty from another competent authority; | | （六）受到刑事处罚，涉嫌违法违规被中国证监会立案调查或者受到中国证监会行政处罚，或者受到其他有权机关重大行政处罚； |
| (7) they are subjected to detention measures by the discipline inspection and supervision authority on suspicion of serious violation of discipline and laws or a duty-related crime, affecting the performance of its duties; | | （七）涉嫌严重违纪违法或者职务犯罪被纪检监察机关采取留置措施且影响其履行职责； |
| (8) they are subjected to compulsory measures on suspicion of crime; and | | （八）涉嫌犯罪被采取强制措施； |
| (9) other circumstances that may have a significant impact on the trading prices of the company's stocks and derivatives thereon. | | （九）其他可能对公司股票及其衍生品种交易价格产生较大影响的情形。 |
| If there is any material progress or change in the matters specified in the preceding paragraph, the controlling shareholder and de facto controller shall notify the company in writing of the relevant conditions they know, and cooperate with the company in performing disclosure obligations. | | 前款规定的事项出现重大进展或者变化的，控股股东、实际控制人应当将其知悉的有关情况书面告知公司，并配合公司履行信息披露义务。 |
| 4.5.4 The controlling shareholder and de facto controller of a listed company shall, in light of their own performance abilities and credit standing, fully assess the possible risks carried by stock pledging, and prudentially conduct the business of stock pledging, especially the pledging of lock-up stocks and pledging of a high percentage of shares, so as to maintain the stability of control of the company. | | 4.5.4 上市公司控股股东、实际控制人应当结合自身履约能力和资信情况，充分评估股票质押可能存在的风险，审慎开展股票质押特别是限售股票质押、高比例质押业务，维护公司控制权稳定。 |
| 4.5.5 The controlling shareholder and de facto controller of a listed company shall exercise shareholder rights and perform shareholder obligations in accordance with laws and regulations, and shall not conceal the identity of the controlling shareholder and de facto controller to avoid relevant obligations and responsibilities. | | 4.5.5 上市公司控股股东、实际控制人应当依法依规行使股东权利、履行股东义务，不得隐瞒其控股股东、实际控制人身份，规避相关义务和责任。 |
| If a company is controlled by signing a concerted action agreement, the relevant control arrangements and lifting mechanism shall be specified in the agreement. | | 通过签署一致行动协议控制公司的，应当在协议中明确相关控制安排及解除机制。 |
| The company shall objectively, prudentially and truthfully attribute control of the company based on the shareholding percentages of shareholders, the composition of the board of directors and the recommenders and nominators of its members, the actual conditions of historical decisions, concerted action agreements or provisions among shareholders, voting rights arrangements, and other conditions, and shall not determine that there is no controlling shareholder or de facto controller without justifiable and reasonable reasons. | | 公司应当根据股东持股比例、董事会成员构成及其推荐和提名主体、过往决策实际情况、股东之间的一致行动协议或者约定、表决权安排等情况，客观、审慎、真实地认定公司控制权的归属，无正当、合理理由不得认定为无控股股东、无实际控制人。 |
| 4.5.6 If a listed company has no controlling shareholder or de facto controller, the largest shareholder of the company and its ultimate controller shall comply with the provisions of this Section as if they were controlling shareholder and de facto controller. | | 4.5.6 上市公司无控股股东、实际控制人的，公司第一大股东及其最终控制人应当比照控股股东、实际控制人，遵守本节的规定。 |
| Chapter V Periodic Reports | | 第五章 定期报告 |
| Section 1 Earnings Preannouncement and Preliminary Results | | 第一节 业绩预告和业绩快报 |
| 5.1.1 A listed company that forecasts the occurrence of any of the following in its annual results and financial condition shall release a preannouncement within one month from the end of the financial year. | | 5.1.1 上市公司预计年度经营业绩和财务状况将出现下列情形之一的，应当在会计年度结束后1个月内进行预告： |
| (1) the net profit would be negative; | | （一）净利润为负值； |
| (2) a turnaround would be achieved in net profit; | | （二）净利润实现扭亏为盈； |
| (3) profitability would be achieved, and the net profit would rise or fall by more than 50 percent over the same period a year earlier; | | （三）实现盈利，且净利润与上年同期相比上升或者下降50%以上； |
| (4) the lesser of net profit before or after the deduction of non-recurring profit and loss would be negative, and the revenue after the deduction of revenue from business unrelated to main business and revenue without commercial substance would be less than 100 million yuan; | | （四）扣除非经常性损益前后的净利润孰低者为负值，且扣除与主营业务无关的业务收入和不具备商业实质的收入后的营业收入低于1亿元； |
| (5) period-end net assets would be negative; and | | （五）期末净资产为负值； |
| (6) other circumstances as recognized by the Exchange. | | （六）本所认定的其他情形。 |
| If the company forecasts the occurrence of any of the circumstances in sub-paragraphs (1) to (3) of the preceding paragraph in its semi-annual results, it shall release a preannouncement within 15 days after the end of the semi-annual period. | | 公司预计半年度经营业绩将出现前款第（一）项至第（三）项情形之一的，应当在半年度结束后15日内进行预告。 |
| 5.1.2 Where a listed company forecasts that profitability will be achieved for the reporting period and that the net profit will rise or fall by more than 50 percent over the same period a year earlier, and there is any of the following circumstances, it may be exempted from disclosing the earnings preannouncement under paragraph 1(3) of Section 5.1.1 of these Rules: | | 5.1.2 上市公司预计报告期实现盈利且净利润与上年同期相比上升或者下降50％以上，但存在下列情形之一的，可以免于按照本规则第5.1.1条第一款第（三）项的规定披露相应业绩预告： |
| (1) the absolute value of its annual earnings per share for the previous year is below or equivalent to 0.05 yuan; and | | （一）上一年年度每股收益绝对值低于或者等于0.05元； |
| (2) the absolute value of its semi-annual earnings per share for the previous year is below or equivalent to 0.03 yuan; | | （二）上一年半年度每股收益绝对值低于或者等于0.03元。 |
| 5.1.3 If a delisting risk warning has been issued on the stocks of a listed company because of the circumstances specified in Section 9.3.2 of these Rules, it shall release a preannouncement of annual revenue, revenue after the deduction of revenue from business unrelated to main business and revenue without commercial substance, net profit, net profit after the deduction of non-recurring profit and loss, and period-end net assets within one month after the end of the financial year. | | 5.1.3 上市公司因本规则第9.3.2条规定的情形，其股票已被实施退市风险警示的，应当于会计年度结束后1个月内预告全年营业收入、扣除与主营业务无关的业务收入和不具备商业实质的收入后的营业收入、净利润、扣除非经常性损益后的净利润和期末净资产。 |
| 5.1.4 A listed company shall disclose an earnings preannouncement in a reasonable, prudential, objective and accurate manner, and the content of the announcement shall include without limitation the amount or range of profit and loss, the scope of changes in earnings, and the main reasons for material changes in results or financial condition. | | 5.1.4 上市公司应当合理、谨慎、客观、准确地披露业绩预告，公告内容应当包括盈亏金额或者区间、业绩变动范围、经营业绩或者财务状况发生重大变动的主要原因等。 |
| If there are uncertain factors that may affect the accuracy of the earnings preannouncement, the company shall disclose the specific circumstances of the uncertain factors and the degree of their impact in the earnings preannouncement. | | 如存在不确定因素可能影响业绩预告准确性的，公司应当在业绩预告中披露不确定因素的具体情况及其影响程度。 |
| 5.1.5 Where a listed company expects any of the following material differences between its results or financial condition for the current period and its previously disclosed earnings preannouncement, it shall disclose a restatement of earnings preannouncement in a timely manner, explaining the specific difference and the reasons for the difference: | | 5.1.5 上市公司披露业绩预告后，如预计本期经营业绩或者财务状况与已披露的业绩预告存在下列重大差异情形之一的，应当及时披露业绩预告更正公告，说明具体差异及造成差异的原因： |
| (1) in the case of an earnings preannouncement disclosed because of the circumstances in paragraph 1(1) to (3) of Section 5.1.1 of these Rules, the latest expected net profit changes in the opposite direction of the previously disclosed earnings preannouncement, or is significantly different from the original expected amount or range; | | （一）因本规则第5.1.1条第一款第（一）项至第（三）项情形披露业绩预告的，最新预计的净利润与已披露的业绩预告发生方向性变化的，或者较原预计金额或者范围差异较大； |
| (2) in the case of an earnings preannouncement disclosed because of the circumstances in paragraph 1(4) and (5) of Section 5.1.1 of these Rules, the latest expectation does not fall under the circumstances in paragraph 1(4) and (5) of Section 5.1.1 of these Rules; | | （二）因本规则第5.1.1条第一款第（四）项、第（五）项情形披露业绩预告的，最新预计不触及第5.1.1条第一款第（四）项、第（五）项的情形； |
| (3) in the case of an earnings preannouncement disclosed because of the circumstances in Section 5.1.1 of these Rules, the newly expected relevant financial indicator change in the opposite direction of the previously disclosed earnings preannouncement, or is significantly different from the original expected amount or range; or | | （三）因本规则第5.1.3条情形披露业绩预告的，最新预计的相关财务指标与已披露的业绩预告发生方向性变化的，或者较原预计金额或者范围差异较大； |
| (4) other circumstances prescribed by the Exchange. | | （四）本所规定的其他情形。 |
| 5.1.6 A listed company may disclose preliminary results before an announcement of periodic report. If there is any of the following circumstances, the company shall disclose preliminary results in a timely manner: | | 5.1.6 上市公司可以在定期报告公告前披露业绩快报。出现下列情形之一的，公司应当及时披露业绩快报： |
| (1) it files unpublished periodic financial data with relevant competent authority before disclosure of a periodic report, and expects the impossibility of maintaining confidentiality; | | （一）在定期报告披露前向有关机关报送未公开的定期财务数据，预计无法保密的； |
| (2) before disclosure of a periodic report, results are divulged, or rumors about results cause abnormal fluctuations in the trading of the company's stocks and derivatives thereon; | | （二）在定期报告披露前出现业绩泄露，或者因业绩传闻导致公司股票及其衍生品种交易异常波动的； |
| (3) the results for the first quarter are intended to be disclosed, but the annual report for the previous year has not been disclosed. | | （三）拟披露第一季度业绩，但上年度年度报告尚未披露。 |
| In the event of the circumstance in sub-paragraph (3) of the preceding paragraph, the company shall disclose the preliminary results for the previous year no later than the time of making an announcement related to the results for the first quarter. | | 出现前款第（三）项情形的，公司应当在不晚于第一季度业绩相关公告发布时披露上一年度的业绩快报。 |
| 5.1.7 Where a listed company releases preliminary results, the preliminary results shall include such data and indicators of the company as the revenue, operating profit, total profit, net profit, net profit after the deduction of non-recurring profit and loss, total assets, net assets, earnings per share, net assets per share and return on equity for the current period as well as the comparative figures for the corresponding period of the previous year. | | 5.1.7 上市公司披露业绩快报的，业绩快报应当包括公司本期及上年同期营业收入、营业利润、利润总额、净利润、扣除非经常性损益后的净利润、总资产、净资产、每股收益、每股净资产和净资产收益率等数据和指标。 |
| 5.1.8 Where after disclosing preliminary results, a listed company expects a difference of more than 20 percent between the results or financial condition for the current period and the data and indicators in such preliminary results, or a change in the latest expected net profit for the reporting period, net profit after the deduction of non-recurring profit and loss, or period-end net assets in the opposite direction of such preliminary results, it shall disclose a restatement of its preliminary results in a timely manner, explaining the specific difference and the reasons for the difference. | | 5.1.8 上市公司披露业绩快报后，如预计本期业绩或者财务状况与已披露的业绩快报数据和指标差异幅度达到20%以上，或者最新预计的报告期净利润、扣除非经常性损益后的净利润或者期末净资产与已披露的业绩快报发生方向性变化的，应当及时披露业绩快报更正公告，说明具体差异及造成差异的原因。 |
| 5.1.9 Where a listed company expects a material difference between its results for the current period and the previously disclosed earnings estimate, the board of directors shall, in the restatement of earnings estimate, explain whether the basis and process for restating the earnings estimate are proper and prudential, and include a special explanation by a CPA firm on the difference between the actual conditions and the earnings estimate. | | 5.1.9 上市公司预计本期业绩与已披露的盈利预测有重大差异的，董事会应当在盈利预测更正公告中说明更正盈利预测的依据及过程是否适当和审慎，以及会计师事务所关于实际情况与盈利预测存在差异的专项说明。 |
| 5.1.10 The directors, supervisors and senior officers of a listed company shall fully understand and pay attention to the operating condition and financial information of the company in a timely manner, conduct necessary communication with a CPA firm, and prudentially judge whether to disclose earnings preannouncements. | | 5.1.10 上市公司董事、监事和高级管理人员应当及时、全面了解和关注公司经营情况和财务信息，并和会计师事务所进行必要的沟通，审慎判断是否应当披露业绩预告。 |
| The company and its directors, supervisors and senior officers shall be responsible for the accuracy of the disclosures in earnings preannouncements and their restatements, preliminary results and their restatements, earnings estimates and their restatements, and ensure that there is no material difference between the disclosures and the actual circumstances of the company. | | 公司及其董事、监事和高级管理人员应当对业绩预告及更正公告、业绩快报及更正公告、盈利预测及更正公告披露的准确性负责，确保披露情况与公司实际情况不存在重大差异。 |
| Section 2 Annual Reports, Semi-annual Reports and Quarterly Reports | | 第二节 年度报告、半年度报告和季度报告 |
| 5.2.1 Periodic reports of a listed company include annual reports, semi-annual reports and quarterly reports. | | 5.2.1 上市公司定期报告包括年度报告、半年度报告和季度报告。 |
| The company shall prepare and disclose periodic reports in accordance with the relevant regulations of the CSRC and the Exchange within the period prescribed by laws and regulations and the Exchange. | | 公司应当在法律法规以及本所规定的期限内，按照中国证监会及本所的有关规定编制并披露定期报告。 |
| 5.2.2 A listed company shall disclose an annual report within four months after the end of each financial year, a semi-annual report within two months after the end of the first half of each financial year, and quarterly reports respectively within three months after the end of the first three-month period and at the end of the first nine-month period of each financial year. | | 5.2.2 上市公司应当在每个会计年度结束后4个月内披露年度报告，应当在每个会计年度的上半年结束后2个月内披露半年度报告，应当在每个会计年度前3个月、前9个月结束后1个月内披露季度报告。 |
| The first-quarter report of the company shall be disclosed no earlier than the annual report of the previous year. | | 公司第一季度季度报告的披露时间不得早于上一年度的年度报告披露时间。 |
| Any listed company unable to disclose its periodic reports within the specified time limit shall, in a timely manner, make public the reasons therefor, its solution plan and the deadline for a delayed disclosure. | | 公司预计不能在规定期限内披露定期报告的，应当及时公告不能按期披露的原因、解决方案及延期披露的最后期限。 |
| 5.2.3 A listed company shall arrange the disclosure timing with the Exchange for its periodic reports. The Exchange will work out an overall arrangement based on the principle of balanced pace of disclosure. | | 5.2.3 上市公司应当向本所预约定期报告的披露时间，本所根据均衡披露原则统筹安排。 |
| A listed company shall make periodic disclosure on the date arranged. Any listed company that intends to change the disclosure time for some reason shall, at least five trading days in advance, file an application with the Exchange stating the reason therefor and proposing a new date for disclosure. The Exchange will, in accordance with the circumstances, decide whether or not to adjust the disclosure time. In principle, the Exchange only accepts one application from one company to this effect. | | 公司应当按照预约时间办理定期报告披露事宜。因故需要变更披露时间的，应当至少提前5个交易日向本所提出申请，说明变更的理由和变更后的披露时间，本所视情形决定是否予以调整。本所原则上只接受一次变更申请。 |
| If the company fails to file an application for changing the arranged disclosure time of a periodic report within the aforesaid prescribed period, it shall announce the change in the disclosure time of the periodic report in a timely manner, explain the reasons for the change, and specify the disclosure time as changed. | | 公司未在前述规定期限内提出定期报告披露预约时间变更申请的，应当及时公告定期报告披露时间变更，说明变更理由，并明确变更后的披露时间。 |
| 5.2.4 The board of directors of a listed company shall ensure timely disclosure of periodic reports. | | 5.2.4 上市公司董事会应当确保公司按时披露定期报告。 |
| No company may disclose any periodic report not approved by the board of directors. If more than half of the directors are unable to guarantee the truthfulness, accuracy and completeness of the contents of a periodic report, the periodic report shall be deemed to have not been approved. | | 公司不得披露未经董事会审议通过的定期报告。半数以上的董事无法保证定期报告内容的真实性、准确性、完整性的，视为未审议通过。 |
| If a periodic report has not been deliberated or approved by the board of directors, or a relevant resolution of the board of directors fails to be adopted for some reason, the company shall disclose relevant information, and explain the reasons for and risk carried by the failure to adopt the resolution of the board of directors, the special explanation by the board of directors and the opinions of independent directors. | | 定期报告未经董事会审议、审议未通过或者因故无法形成有关董事会决议的，公司应当披露相关情况，说明无法形成董事会决议的原因和存在的风险、董事会的专项说明以及独立董事意见。 |
| 5.2.5 The board of directors of a listed company shall, in accordance with the relevant regulations of the CSRC and the Exchange on periodic reports, organize relevant personnel in preparing and disclosing the periodic report. | | 5.2.5 上市公司董事会应当按照中国证监会和本所关于定期报告的相关规定，组织有关人员安排落实定期报告的编制和披露工作。 |
| The general manager, financial officer, board secretary and other senior officers of the listed company shall prepare the draft periodic report in a timely manner and submit it to the board secretary for deliberation. | | 公司总经理、财务负责人、董事会秘书等高级管理人员应当及时编制定期报告草案并提交董事会审议。 |
| 5.2.6 The directors and senior officers of a listed company shall sign their opinions of consent or dissent to a periodic report, stating whether the preparation and deliberation procedures followed by the board of directors comply with the requirements of laws and regulations and the relevant regulations of the Exchange and whether the content of the periodic report truthfully, accurately and completely reflect the actual conditions of the listed company. | | 5.2.6 上市公司董事、高级管理人员应当对定期报告签署书面确认意见，说明董事会的编制和审议程序是否符合法律法规、本所相关规定的要求，定期报告的内容是否能够真实、准确、完整地反映上市公司的实际情况。 |
| The board of supervisors of the company shall review the periodic report prepared by the board of directors, and give a written opinion. The supervisors shall sign their opinions of consent or dissent to the periodic report. The written opinion issued by the board of supervisors on the periodic report shall state whether the preparation and deliberation procedures followed by the board of directors comply with the requirements of laws and regulations and the relevant regulations of the Exchange and whether the content of the periodic report truthfully, accurately and completely reflect the actual conditions of the company. | | 公司监事会应当对董事会编制的定期报告进行审核并提出书面审核意见。监事应当签署书面确认意见。监事会对定期报告出具的书面审核意见，应当说明董事会的编制和审议程序是否符合法律法规、本所相关规定的要求，定期报告的内容是否能够真实、准确、完整地反映公司的实际情况。 |
| If a director or supervisor of the company is unable to guarantee the truthfulness, accuracy and completeness of the content of the periodic report, or has objections, he or she shall cast a negative vote or abstain from voting when the board of directors or the board of supervisors deliberates or reviews the periodic report. | | 公司董事、监事无法保证定期报告内容的真实性、准确性、完整性或者有异议的，应当在董事会或者监事会审议、审核定期报告时投反对票或者弃权票。 |
| If a director, supervisor or senior officer of the company is unable to guarantee the truthfulness, accuracy and completeness of the content of the periodic report, or has objections, he or she shall express opinions and state the reasons in the opinion of consent or dissent to the periodic report, which the listed company shall disclose. If the listed company refuses to do so, the director, supervisor or senior officer may directly apply for disclosure. | | 公司董事、监事和高级管理人员无法保证定期报告内容的真实性、准确性、完整性或者有异议的，应当在书面确认意见中发表意见并陈述理由，公司应当披露。公司不予披露的，董事、监事和高级管理人员可以直接申请披露。 |
| The reasons for objections expressed by the director, supervisor or senior officer of the company shall be unequivocal, concrete, relevant to the content disclosed in the periodic report. A director, supervisor, or senior officer shall follow the principle of prudence in expressing opinions under the provisions of the preceding paragraph, and shall not be exempted of right from his or her responsibility to guarantee the truthfulness, accuracy and completeness of the content of the periodic report only because of expressing opinions. | | 公司董事、监事和高级管理人员发表的异议理由应当明确、具体，与定期报告披露内容具有相关性。公司董事、监事和高级管理人员按照前款规定发表意见，应当遵循审慎原则，其保证定期报告内容的真实性、准确性、完整性的责任不仅因发表意见而当然免除。 |
| Directors, supervisors and senior officers shall not refuse to sign their opinions on the periodic report for any reason. | | 董事、监事和高级管理人员不得以任何理由拒绝对定期报告签署书面意见。 |
| 5.2.7 The financial report in the annual report of a listed company shall be audited by a CPA firm. | | 5.2.7 上市公司年度报告中的财务会计报告应当经会计师事务所审计。 |
| The financial report in the semi-annual report of the company may be exempt from auditing unless any of the following applies: | | 公司半年度报告中的财务会计报告可以不经审计，但有下列情形之一的，应当经过审计： |
| (1) the company plans to distribute stock dividends, transfer reserves into share capital or use the reserves to offset its losses based on semi-annual financial data; or | | （一）拟依据半年度财务数据派发股票股利、进行公积金转增股本或者弥补亏损； |
| (2) other circumstances where auditing is required as deemed by the CSRC or the Exchange. | | （二）中国证监会或者本所认为应当进行审计的其他情形。 |
| The financial report in the quarterly report of the company is exempt from auditing, unless otherwise prescribed by the CSRC or the Exchange. | | 公司季度报告中的财务资料无须审计，但中国证监会或者本所另有规定的除外。 |
| 5.2.8 Upon the approval of the periodic report by the board of director, a listed company shall submit the following documents to the Exchange in a timely manner: | | 5.2.8 上市公司应当在董事会审议通过定期报告后，及时向本所报送并提交下列文件： |
| (1) the full text and summary of the annual report, the full text and summary of the semi-annual report, or the quarterly report; | | （一）年度报告全文及其摘要、半年度报告全文及其摘要或者季度报告； |
| (2) the audit report (if applicable); | | （二）审计报告（如适用）； |
| (3) resolutions of the board meeting and the meeting of supervisors; | | （三）董事会和监事会决议； |
| (4) directors, supervisors and senior officers' opinions of consent or dissent to the periodic report; | | （四）董事、监事和高级管理人员书面确认意见； |
| (5) electronic documents containing the periodic report and financial data prepared as required by the Exchange; and | | （五）按照本所要求制作的载有定期报告和财务数据的电子文件； |
| (6) other documents as required by the Exchange. | | （六）本所要求的其他文件。 |
| 5.2.9 Where the financial report of a listed company is issued a non-standard audit opinion, the listed company shall submit and disclose the following documents to the Exchange at the time as it submits its periodic report in accordance with The Rules No. 14 on the Preparation of Information Disclosure Documents by Companies That Offer Securities to the Public: Modified Opinions and Handling of the Matters Involved (hereafter referred to as The Rules No. 14 on the Preparation of Information Disclosure Documents) issued by the CSRC: | | 5.2.9 上市公司财务会计报告被出具非标准审计意见的，应当按照中国证监会《公开发行证券的公司信息披露编报规则第14号--非标准审计意见及其涉及事项的处理》（以下简称第14号编报规则）的规定，在报送定期报告的同时，向本所提交下列文件并披露： |
| (1) specific explanation made by the board of directors in accordance with The Rules No. 14 on the Preparation of Information Disclosure Documents on the matters to which the audit opinion relates, the resolutions adopted by the board meeting at which such specific explanation has been considered, and the materials on which the resolutions are based; | | （一）董事会针对该审计意见涉及事项所做的符合第14号编报规则要求的专项说明，审议此专项说明的董事会决议和决议所依据的材料； |
| (2) opinions of the independent director on matters to which the audit opinion relates; | | （二）独立董事对审计意见涉及事项所发表的意见； |
| (3) opinions and relevant resolution of the board of supervisors on the specific explanation of the board of directors; | | （三）监事会对董事会专项说明的意见和相关决议； |
| (4) special statement made by the CPA firm and the certified public accountant responsible for the audit in accordance with The Rules No. 14 on the Preparation of Information Disclosure Documents; and | | （四）负责审计的会计师事务所和注册会计师出具的符合第14号编报规则要求的专项说明； |
| (5) other documents as required by the CSRC and the Exchange. | | （五）中国证监会和本所要求的其他文件。 |
| 5.2.10 Where the financial report of a listed company is issued a non-standard audit opinion referred to in Section 5.2.9 of these Rules by the CPA firm, and the opinion is issued in relation to matters in significant breach of the accounting standards and the relevant information disclosure norms, it shall take corrective actions and promptly disclose the corrected financial accounting information, and the audit report or special authentication report issued by the accounting firm. | | 5.2.10 上市公司出现本规则第5.2.9条所述非标准审计意见涉及事项如属于明显违反会计准则及相关信息披露规范规定的，应当对有关事项进行纠正，并及时披露经纠正的财务会计资料和会计师事务所出具的审计报告或者专项鉴证报告等有关材料。 |
| If the company does not disclose information related to the matter in question and take corrective measures to eliminate its effects in a timely manner, the Exchange will take regulatory measures or disciplinary action against the company or report the case to the CSRC for investigation and processing. | | 公司未及时披露、采取措施消除相关事项及其影响的，本所将对其采取监管措施或者予以纪律处分，或者报中国证监会调查处理。 |
| 5.2.11 A listed company shall take seriously the Exchange's ex post examination opinion on its periodic report, respond to the Exchange's inquiries on time and, as required by the Exchange, make explanations and clarification on the relevant contents in its periodic report. If a listed company intends to disclose a restatement or supplementary announcement and revise its periodic report accordingly, it shall make an announcement after completing relevant procedures. | | 5.2.11 上市公司应当认真对待本所对其定期报告的事后审查意见，按期回复本所的问询，并按要求对定期报告有关内容作出解释和说明。如需披露更正或者补充公告并修改定期报告的，公司应当在履行相应程序后及时公告。 |
| 5.2.12 Where a listed company is ordered to correct the errors or falsehoods in its already released periodic reports, or the company's board of directors decides to correct such errors or falsehoods, the company shall, after it receives such order or its board of directors makes such decision, make timely disclosure, or make and disclose a restatement as required by the Rules No. 19 on the Preparation of Information Disclosure Documents by Companies That Offer Securities to the Public: Restatement of Financial Information and Related Disclosure and other relevant regulations issued by the CSRC, if financial information is involved. | | 5.2.12 上市公司因已披露的定期报告存在差错或者虚假记载被责令改正，或者董事会决定进行更正的，应当在被责令改正或者董事会作出相应决定后及时披露，涉及财务信息的按照中国证监会《公开发行证券的公司信息披露编报规则第19号--财务信息的更正及相关披露》等有关规定的要求更正及披露。 |
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