Do institutional research reports of listed companies have to be publicly disclosed? Which law stipulates it?

You should be talking about the investor activity relationship that the company needs to issue, right?

According to "Guidelines for Standardized Operation of Listed Companies on SME Board of Shenzhen Stock Exchange (revised 20 15)", "9. 18 listed companies shall prepare records of investor relations activities within two trading days after the end of performance briefing, analyst meeting, roadshow and other investor relations activities, and exchange the records with the presentations, documents and other attachments (if any) used in the activities in time.