State-owned Assets Supervision and Administration Commission: Improve the quality of listed companies controlled by central enterprises and guide companies to take various measures to turn losses into

State-owned Assets Supervision and Administration Commission: Improve the quality of listed companies controlled by central enterprises and guide companies to take various measures to turn losses into profits. The State-owned Assets Supervision and Administration Commission (SASAC) recently issued the "Work Plan for Improving the Quality of Listed Companies Holding by Central Enterprises", proposing to promote the construction of listed platforms by classification and form a step-by-step development pattern. Strengthen and improve a number of companies, focus on dominant listed companies, intensify professional integration through asset restructuring and equity replacement, promote more high-quality resources to gather in listed companies, divest non-main business and non-dominant business, solve horizontal competition, standardize related party transactions, vigorously optimize industrial layout, improve operating quality, and promote the core competitiveness and market influence of listed companies to a new level, and strive to become a leading enterprise in the industry.

Adjust and revitalize a number of listed platforms with weak business synergy, too long management chain, insufficient sustainable operation ability, long-term loss of financing function and out-of-control risks, and make a list. We will formulate an adjustment plan according to the enterprise's conditions, and basically complete the adjustment before the end of 2024. We will support revitalizing through absorption and merger, asset restructuring, cross-market operation, or withdrawing through free transfer and equity transfer, so as to further focus on the main business and advantageous areas.

The Central Enterprise Group Corporation should guide listed companies to find out the problems according to the special actions of the CSRC on corporate governance of listed companies, focusing on related party transactions, foreign mergers and acquisitions, major investments, major guarantees, financial management, insider information management, debt risk, subsidiary management and control, paying taxes according to law, and internal supervision, etc., make a list of governance problems, formulate rectification plans, strictly promote implementation, complete reconciliation cancellation before the end of 2022, and promote auditing and internal control compliance of listed companies. The central enterprises involved in the business between the group finance company and the listed companies under its control shall operate in accordance with the principle of "compliance with laws and fair pricing", and ensure that the requirements of independence, related transactions and information disclosure of listed companies are met while achieving the goal of centralized management and efficient use of group funds. Supervise listed companies to strengthen compliance management and internal supervision, strictly abide by state-owned assets supervision policies and securities supervision rules, continuously improve the ability and level of honest management, ensure the authenticity and reliability of accounting information, and strictly prohibit financial fraud, illegal operation and insider trading. Strengthen risk management and control, improve the ability of risk identification, analysis and disposal, and do a good job in preventing overseas compliance risks; For listed companies that fail to fulfill their public commitments in the capital market, sustain losses, violate regulations or may face risks such as delisting, the Central Enterprise Group Corporation should closely follow up, take precautions, guide listed companies to take various measures to turn losses into profits, and properly deal with and resolve risks. Those who violate the regulations, fail to perform or perform their duties incorrectly, resulting in the loss of state-owned assets, damage to the legitimate rights and interests of investors or other serious adverse consequences, will be seriously investigated for responsibility.