Market participants:
In order to do a good job in the declaration and issuance of corporate bonds during the epidemic prevention and control in COVID-19, properly solve the practical difficulties faced by issuers and accounting firms, maintain the order of the capital market, and protect the legitimate rights and interests of investors, according to the Securities Law, the Measures for the Administration of Corporate Bond Issuance and Trading and the Announcement on Doing a Good Job in Auditing and Disclosure of Annual Reports of Listed Companies (CSRC Announcement [2020] No.22, Hereinafter referred to as "Announcement") and "Notice on Issues Concerning the Extension of the Validity Period of Financial Statements Cited in the Corporate Bond Offering Prospectus" (AnnouncementNo. [2020]23 of the CSRC), the relevant issues concerning the Validity Period of Financial Statements Cited in the Corporate Bond Offering Prospectus are hereby notified as follows:
I. Corporate bond issuers should actively take measures to overcome difficulties, provide the audited annual report of 20 19 as soon as possible, and update the application documents such as the prospectus simultaneously.
Second, listed companies, companies whose corporate bonds are listed and traded, and companies whose shares are traded in other national stock exchanges approved by the State Council have issued annual reports and delayed the disclosure of interim reports according to announcements and other relevant regulations, the validity of the financial statements in the third quarter of 20 19 quoted in the prospectus for corporate bonds can be extended to the disclosure date of the audited annual report in 20 19, in principle, not later than June 30, 2020. Other corporate bond issuers should refer to extending the validity period of financial statements.
Three. An issuer of corporate bonds applying for extending the validity period of the financial statements in the third quarter of 20 19 shall submit an application for extension to this Exchange, explaining the reasons for extending the validity period, the progress of the audit, the expected disclosure time, the issuer's current production and operation, and whether there are any related matters affecting the issuance conditions and solvency, and fully disclose them in the prospectus. The relevant audit institutions shall issue special opinions on the reasons for failing to issue the audit report on time, the audit progress and the expected completion time.
Four. An issuer of corporate bonds that applies for extending the validity period of the financial statements in the third quarter of 20 19 may disclose the main operating results of 20 19 in the prospectus, and the contents disclosed shall be true, accurate and complete, and shall not contain false records, misleading statements or major omissions, and shall not be significantly different from the audited annual report of 20 19 provided to this Exchange.
5. An issuer that applies for extending the validity of the financial statements in the third quarter of 20 19 to publicly issue corporate bonds shall promise in the prospectus that the audited annual report of 20 19 still meets the conditions for publicly issuing corporate bonds, and make arrangements for the investor protection mechanism in case of failure to promise, giving bond investors the right to sell back at least once.
6. Corporate bond issuers and relevant intermediaries shall be realistic and diligent. Due to the epidemic situation, it is really impossible to carry out the audit work on schedule and provide the audited annual report for 20 19, which can be extended in accordance with the provisions of this notice. Our firm will conduct post supervision on the reasons for extending the validity period of financial statements. If it is found to be inconsistent with the actual situation, it will handle it according to the law and regulations.
VII. The validity period of deferred financial statements quoted in the application documents related to asset-backed securities shall be implemented with reference to this Notice.
I hereby inform you.
Shanghai Stock Exchange
April 30(th), 2002