On September 17, the China Securities Regulatory Commission issued an announcement stating that, with the approval of the State Council, the “Announcement on Expanding the Pilot Scope of Red Chip Enterprises to List in the Mainland” (hereinafter referred to as the “Announcement”) is now published, which will come into effect on the date of publication. This means that more red-chip companies will be able to achieve listing in China in accordance with the previous pilot requirements.
In March 2018, the “Notice of the General Office of the State Council on Forwarding Several Opinions of the China Securities Regulatory Commission on the Pilot Program of Innovative Enterprises Issuing Shares or Depository Receipts” (hereinafter referred to as the “Notice”) was issued, and the domestic issuance of shares or depository receipts by innovative companies was launched.
At that time, the requirements of pilot companies were relatively strict. The “Notice” stipulated that pilot companies should be in line with national strategies, master core technologies, and have a high degree of market recognition. They belong to the Internet, big data, cloud computing, artificial intelligence, software and integrated circuits, and high-end equipment manufacturing. , Biomedicine and other high-tech industries and strategic emerging industries, and have reached a considerable scale of innovative enterprises.
The “Announcement” will greatly expand the scope of pilot & car companies, clarifying that in addition to the Internet, big data, cloud computing, artificial intelligence, software and integrated circuits, high-end equipment manufacturing, and biomedical industries, they belong to the new generation of information technology, new energy, New materials, new energy vehicles, green environmental protection, aerospace, marine equipment and other high-tech industries and red-chip enterprises in strategic emerging industries are included in the pilot scope and can be listed on the domestic main board, science and technology innovation board, and ChiNext.
At the same time, red-chip companies with national strategic significance apply to be included in the pilot program and are not subject to the aforementioned industry restrictions.
According to Melbourne Chuaffeur The “Announcement” clarified that the application of red-chip enterprises for inclusion in the pilot program should comply with the “Notice”, “Implementation Measures for the Supervision of Domestic Issuance of Stocks or Depository Receipts and Listing of Pilot Innovative Enterprises” and “Announcement on Related Arrangements for the Domestic Listing of Innovative Pilot Red Chip Enterprises” And other stipulated conditions.
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