Recently, the Shenzhen Stock Exchange (SZSE) completed the 2021 annual information disclosure assessment for listed companies on the Main Board and GEM. Hailiang (002203) received the highest rating of “A” in the disclosure assessment again after 2020.
In the 2021 annual information disclosure assessment, the SZSE further strengthened the assessment of listed companies in cash dividends and share repurchases, investor relations management, and fulfillment of social responsibility, taking into account the regulatory practice and investors’ concerns. This strengthened the positive guiding effect of information disclosure assessment.
The assessment was based on the SZSE’s Guideline No.11 on Self-regulation of Listed Companies - Assessment of Information Disclosure Work. The SZSE adopted a combination of self-assessment and assessment by the Exchange to comprehensively assess the information disclosure of 2,553 listed companies. With the final assessment results of A (excellent), B (good), C (qualified) and D (unqualified). The result was that the number of companies in A (excellent), B (good), C (pass) and D (fail) were 454, 1,744, 275 and 80 respectively, accounting for 17.78%, 68.31%, 10.77% and 3.13% respectively.
Improving the quality of listed companies is a major decision of the Party Central Committee and the State Council, and is an inherent requirement for promoting the healthy development of the capital market. The quality of information disclosure is an objective and important standard to measure the quality of listed companies. In recent years, the SZSE has adhered to information disclosure as the core and effectively fulfilled its responsibilities of front-line supervision services to promote the high-quality development of listed companies. The first is to build a system, which is more concise, friendly, mature and stereotyped to vigorously promote the integration of the self-regulatory rules system for listed companies. The second is to strengthen supervision, which is to take timely action against suspected speculative concepts, unusual trading and financial fraud. The third is to focus on training. The SZSE continues to carry out training for listed companies and the “key minority”, which includes information disclosure rules, annual report preparation, performance briefings, cases of violations, etc. It also comprehensively strengthens the awareness of compliance operations in listed companies and the “key minority”. The fourth is to provide better services. During the epidemic, the SCSE further optimized its self-regulatory services, including extending the information disclosure period, allowing the use of electronic signatures for business, and supporting and encouraging market entities to increase their holdings and repurchase.
Hailiang has always paid great attention to the standardization and legalization of the securities market. According to its own situation, Hailiang improves the corporate governance structure, ensures its operation in compliance with new laws, regulations and regulatory requirements, and continuously strengthens the level of corporate governance. At the same time, Hailiang continuously enhances its corporate social responsibility. While developing its own performance continuously, Hailiang actively repays the society and promotes the harmonious development of the company itself and the whole society.