The FINANCIAL -- On 03 March 2018, Golden Dragon had its listing ceremony held at Shenzhen Stock Exchange (SZSE).
The ringing of the opening bell signals not only the official debut of a company on the new arena of capital market, but, more importantly, a new starting point for the company to shoulder more corporate and social responsibilities. Different from previous listing ceremonies, the ceremony this time features a newly added part of signing a listing agreement on the spot for the first time. And the company chairman, on behalf of the company, solemnly made commitments on the agreement, saying: the company, after getting listed, will abide by laws and regulations, SZSE’s business rules and other relevant stipulations, accept the disciplinary regulation by SZSE, operate with integrity and in standard ways, strictly perform information disclosure obligations, and truly protect investors’ legitimate rights and interests. The solemn promise is listed units’ declaration of practicing the spirit of contract and their profound interpretation of the original aspiration of respecting the market and the rules while protecting investors.
SZSE has recently applied the Agreement on Securities Listing (2018 Revision), specifying that listed companies are the first person responsible for information disclosure and that they should ensure the truthfulness, accuracy, integrity, timeliness and fairness of disclosure and highlight the exchange’s attribute of self-disciplinary management. The listing agreement serves as the institutional basis of and the source of power for the exchange’s carrying out self-disciplinary management, the fundamental legal document for defining the rights and obligations between the exchange and listed companies, and the parties’ common code of conduct, according to Shenzhen Stock Exchange.
Adding on-site agreement signing into the signing ceremony and having chairman make solemn promises on behalf of the company are another major move for SZSE to implement the newly amended Measures on the Administration of Stock Exchanges and enhance the law-based comprehensive and strict supervision. It helps guide listed units to perfect governance, operate in standard ways and improve quality, further play SZSE’s role of serving the real economy and supporting the supply-side structural reform, and lay a more solid foundation for the sound development of capital market.
An SZSE principal expressed that SZSE will keep making innovation in supervision and service approaches so as to improve the quality of listed units and give them a leg up in growing stronger while better shouldering its frontline oversight duties. In this way, accordingly, SZSE will contribute more to maintain the healthy development of capital market and provide more sources of running water for achieving quality growth in the real economy.