What are the latest provisions on the performance commitment of listed companies in the Guidelines for the Standardized Operation of Listed Companies of Shenzhen Stock Exchange (revised in 2020)?

The Guidelines for the Standardized Operation of Listed Companies in Shenzhen Stock Exchange (revised in 2020) adjusted the scope of application of the promisors, increased the principled requirements that the promisors should fulfill their commitments, and increased the provisions that the board of directors should separately consider performance differences, disclose relevant information in the annual report, and issue special audit opinions by professional institutions. Article 6.6. 1 stipulates that listed companies and their shareholders, actual controllers, directors, supervisors, senior managers, participants in major asset restructuring, and listed companies shall strictly fulfill their commitments and take effective measures to ensure the fulfillment of their commitments, and shall not change or terminate them without authorization.

Article 6.6.6 stipulates that if the shareholders and counterparties of a listed company make a commitment to the operating performance of the company or related assets in the reporting year, the board of directors of the company shall pay attention to the realization of the performance commitment. If the annual performance of the company or related assets fails to meet the promise, the board of directors shall separately consider the difference between the actual profit of the company or related assets and the promised data, explain the difference in detail and the measures that the company has taken or intends to take, and urge the relevant shareholders and counterparties of the company to fulfill their promises.

The company shall disclose the above matters in its annual report, require accounting firms, sponsors or financial advisers (if applicable) to issue special audit opinions, and disclose them in qualified media at the same time as the annual report.