Listed companies must disclose securities investments

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BIZCHINA / Rules & Regulations

Listed companies must disclose securities investments

By Shangguan Zhoudong (Chinadaily.com.cn)
Updated: 2007-07-03 08:25

Listed companies must disclose their information on stocks they hold in
other listed companies and stakes they have in non-listed financial
companies and companies planning to go public, according to circulars
issued by theShanghai Stock Exchange(SSE) andShenzhen Stock
Exchangeyesterday.

The two exchanges also announced yesterday a timetable for the disclosure
of listed companies' interim reports of 2007.

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As for companies that went public before June 30 of this year, their
interim reports should be announced as of August 31 this year, according
to the circulars.

If listed companies are unable to complete the disclosure before August
31, they should submit written statements to their exchanges to explain
the reason for delay and the deadline.

The two stock exchanges will stop trading stocks for those listed
companies which fail to announce their interim results by September 1;
they will resume trading once they make their reports.

If listed companies' first-half-year results are given away before the
release of their interim reports, or the trading of their stocks and
other derivatives fluctuate abnormally due to rumors on performance, they
must disclose the relevant accounting information.

SSE will allow a maximum of 50 listed companies to announce their interim
reports per day, and the Shenzhen Stock Exchange will arrange 30
companies at most to announce their half-year results daily.

The Shenzhen exchange ordered that senior executives of listed companies
be not allowed to trade their companies' stocks during the information
disclosure period. The exchange also encourage companies that are listed
on its small- and medium-sized enterprises board and plan to disclose
their interim results in August to make the disclosure before the end of
July.

(For more biz stories, please visit Industry Updates)

20071123 Extracted from http://www.hellomandarin.net