SSE Launches Live-Streaming Lectures on Qualification for Directorate Secretaries of Companies Listed on SSE STAR Market

It is our duty to support the resumption of work and production and refine services for companies listed on the Shanghai Stock Exchange (SSE). Recently, the latest training program on qualification of directorate secretaries (the “Training” for short) for companies listed on the SSE STAR Market introduced lectures on the cloud. It is the first time that the SSE has offered the live-streaming lectures for the Training, and it is also the latest move of the SSE to implement the requirement for giving equal weigh on the epidemic prevention and control and regulatory services.

In the 3-day training, the entire course was broadcasted live to 30 members from 20 companies listed on the SSE STAR Market (including one company with the review passed by the CSRC and one company with the IPO registration effective). Earlier, the SSE offered the online live lectures on the regulation on listed companies, but it was the first time that training on directorate secretaries was conducted in the way of live streaming. With the listing review and registration for the SSE STAR Market resumed and advanced in an all-round manner, companies should also keep pace in terms of mechanism and talent development in information disclosure. At the same time, based on the surveys carried out earlier on STAR-listed companies, the SSE found that some companies had such issues as a weak team for information disclosure, the directorate secretary designate waiting to acquire the qualification, and lacking of experience in information disclosure, making it urgent to improve information disclosure by training. In order to start the training as soon as possible, the SSE thoroughly studied the companies, learned about the needs in training, improved the technical support, connect regulation with corporate training and information services, and set up special business sessions, so as to ensure that every STAR-listed company would join the training, the online live broadcast would go on smoothly, and good training results would be achieved. Going forward, the SSE will work with the regional offices of the CSRC to arrange an online exam for the training members at the regional CSRC offices. Only those who pass the exam can obtain the qualification for the directorate secretary.

With the lectures on the cloud, a down-to-earth working principle is highlighted. The SSE launched proactively the online training on qualification for directorate secretaries, so as to minimize the impact of the epidemic on information disclosure of the listed companies, to ensure that regulatory policies are conveyed in a timely manner, and to help the companies to learn the rules and the red line. Recently, the SSE continues to take disciplinary measures against a number of listed companies on violations in information disclosure. The experience in regulatory practice also shows that the violations in information disclosure appear to be minor issues, but they revealed the shortcomings of some companies with their awareness of information disclosure compliance yet to be raised and their understanding of the rules yet to be improved. In order to prevent a small problem from becoming a severe one, the SSE takes the training as an important measure to identify problems and correct them as early as possible. In the Training for the companies listed on the SSE STAR Market, problems found recently in information disclosure were highlighted in the course with real cases analyzed, which helps sci-tech companies to treat governance, information disclosure and development in a correct way, and make the listed companies get off to a good start.

Recently, the SSE has proactively implemented the decisions and deployments of the Party Central Committee and the State Council and the requirements of the CSRC for the epidemic prevention and control, coordinate the efforts in the epidemic prevention and control and the economic and social development, take various online approaches to provide the SSE-listed companies with efficient and convenient “one-stop” services in training and learning, online roadshows, communication, vote counting at shareholders' meetings and other occasions, and meet the different demands of the listed companies. For example, the online service package “Securities Energy” has been launched for listed companies, so as to ensure that online services are always stand-by. In addition to online training, the services cover online roadshows, online voting, online interactions, online questionnaires and so on, with the SSE providing unified process guidance and online support. Another example is that, as closely following the hot issues in the market, the SSE Pujiang Training Institute has launched open lectures on the “Rules for Listing Stocks on the Main Board” and the live-streaming lessons on interpretation of new policies for information disclosure and refinancing under the revised “Securities Law” and some other topics. Incoming programs include the "First Voyage" training for the chairpersons and presidents and the training on practical operation for the directorate secretaries (including representatives for securities affairs) of newly listed companies. Going forward, the SSE will continue to improve the online service functions, optimize users’ experience, and enhance the services based on the feedbacks from the listed companies.