Shenzhen Stock Exchange revises the Main Board and ChiNext Market "Stock Listing Rules" and "Guidelines for Standardized Operations"

The Shenzhen Stock Exchange revised the “Stock Listing Rules” and “Guidelines for Standardized Operations” for the Main Board and ChiNext Board, which were officially released on April 24.
The main contents of this revision include:

1. Strengthening the responsibilities of the Secretary to the Board of Directors.
   Further detailing the Secretary’s responsibilities in organizing the company’s information disclosure work, promoting corporate governance compliance, and facilitating effective internal and external communication.
2. Improving the protection of the Secretary’s performance.
   Requiring the Secretary’s duties to be embedded into the company’s daily management processes, clarifying that directors, senior management, and relevant departments should actively cooperate with the Secretary, and establishing a reporting mechanism for inadequate performance.
3. Perfecting the management of directors and senior management appointments.
   Strictly regulating the qualifications for the Secretary, requiring the Secretary to possess the necessary work experience for their duties.
   Standardizing the procedures for appointing and dismissing directors and senior management to prevent ineligible entities from holding positions.
4. Strengthening supervision of the duties of directors and senior management.
   Refining the obligations of directors and senior management to be loyal and diligent, enhancing the dual role of the Secretary, and strengthening internal constraints and accountability mechanisms for the Secretary’s performance.
5. Regulating the behavior of controlling shareholders and actual controllers.
   Clarifying that controlling shareholders, actual controllers, and other entities they control shall not engage in any industry competition that could have a significant adverse impact on the listed company, and strengthening disclosure requirements for non-major adverse industry competition.
   Additionally, according to the higher-level regulations, the notice clearly states the transitional arrangements for the application of new and old rules regarding the appointment and concurrent roles of the Secretary.