Measures of Zibo Municipality on the Administration of State-owned Equity Transfer (for Trial Implementation)

Chapter I General Provisions Article 1 These Measures are formulated to meet the requirements of establishing a socialist market economic system, enhance the government's macro-control ability on the economy, promote the cultivation and development of the securities market in our city, promote the rational flow and optimal allocation of state-owned assets, and ensure the preservation and appreciation of state-owned assets. Article 2 These Measures shall apply to the transfer of state-owned shares in cities and enterprises and institutions below the municipal level that are restructured into joint stock limited companies (hereinafter referred to as companies). Article 3 The national equity transfer shall follow the principles of openness, fairness, honesty and credibility, and the total amount of transfer shall be approved by the Municipal State-owned Assets Management Committee, and shall be supervised according to the requirements of "total amount control and gradual progress". Chapter II Examination and Approval of the Transfer of State-owned Shares Article 4 After the transfer of state-owned shares, the state's shareholding ratio in companies with strong monopoly such as energy, transportation, communications and raw materials industries shall be maintained at not less than 50%, and its shareholding ratio in general enterprises shall be not less than 35%. Article 5 A company that transfers state-owned shares shall meet the following conditions:

(a) the enterprise has a good reputation and has been making profits continuously for the past three years;

(two) the enterprise has no major violations of law and discipline in the past three years;

(3) Having a capital verification report issued by an accounting firm or an audit firm;

(4) Other conditions. Article 6 The transfer of state-owned shares shall be handled according to the following procedures:

(a) the company applies to the state-owned assets management department at the same level for the transfer of state equity;

(two) after receiving the application, the state-owned assets management department puts forward the examination opinions and submits them to the state-owned assets management committee at the same level for examination;

(three) the transfer of state-owned shares must be approved by the people's government at the same level, and the transfer of state-owned shares is managed by the state-owned assets management department. Article 7 The transfer of state-owned shares designated by the government shall be organized and implemented by the state-owned assets management department at the same level. Article 8 A company applying for the transfer of state-owned shares shall submit the following documents to the state-owned assets management department:

(1) An application report;

(2) Draft announcement on the transfer of state-owned shares;

(3) National equity transfer plan;

(4) Other documents that need to be submitted. Article 9 The Announcement on the Transfer of State-owned Equity shall specify the following items:

(1) Name and domicile of the company;

(2) The company's existing share capital and business scope;

(three) the company's production and operation and related business development in the past three years;

(four) the purpose of the transfer and the benefit forecast of the company;

(five) the amount and price of the transfer of state-owned shares;

(six) the name, address and transfer method of the institution responsible for the transfer;

(seven) the scope of equity transfer and the rights and obligations of the purchaser;

(8) Verification of funds;

(9) Date of transfer;

(10) Other explanatory matters. Tenth state-owned equity transfer announcement by the state-owned assets management department. Eleventh national equity transfer announcement should be released in advance. Chapter III Transfer of State-owned Equity Article 12 The transfer of State-owned equity may take the form of public listing or agreement transfer. Thirteenth the transfer of state-owned shares shall be carried out in the securities institutions designated by the state-owned assets management department and the competent financial department. Fourteenth state-owned shares can be transferred to social legal persons or social natural persons. Fifteenth state-owned assets management department is responsible for supervising the production of state-owned shares certificates. Article 16 The public transfer of listed state-owned shares shall be underwritten by securities institutions, including underwriting and consignment. The company shall sign an underwriting agreement with the securities operation institution, and the underwriting agreement shall specify the following items:

(a) the name, domicile and legal representative of the transferor and the securities business institution;

(2) underwriting method;

(3) The number of underwriting and the issue price;

(4) The starting and ending dates of underwriting;

(5) Date and method of underwriting payment;

(6) Calculation, payment method and date of underwriting fees;

(7) Liability for breach of contract;

(8) Other agreed matters. Seventeenth state-owned equity transfer underwriting period shall not exceed 60 days. Article 18 After the underwriting expires 15 days, the company shall submit a written report on the underwriting to the state-owned assets management department. Chapter IV Management of State-owned Equity Transfer Income Article 19 The state-owned assets management department shall organize the collection of state-owned equity transfer income, and the company shall turn over the state-owned equity transfer income to the state-owned assets management department within 15 days after receiving the Notice of Collection of State-owned Equity Transfer Income from the state-owned assets management department. The income from state equity transfer is included in the government's constructive budget, and no unit or individual may withhold or refuse to pay it. Twentieth national equity transfer income according to the overall arrangement of the government plan, mainly used for technological transformation projects, infrastructure construction and state-owned assets. On the development of enterprises, in principle, the implementation of paid use, according to the specific circumstances, some can take low interest, some can take interest-free, specific measures for the use of state-owned assets management bureau shall be formulated separately by the municipal government for approval before implementation. Chapter V Legal Liability Article 21 In case of any of the following acts, the state-owned assets management department shall order it to stop the transfer of state-owned shares; Have the right to request or jointly with the relevant departments to impose economic penalties or administrative sanctions on the directly responsible personnel in accordance with the relevant provisions of the state.

(a) the transfer or disguised transfer of state equity without approval;

(2) Obtaining the transfer by deception or other improper means;

(3) Transfer of state-owned shares after the underwriting period expires;

(four) refusing or delaying the transfer of state equity income.