The Shanghai Stock Exchange issues a public call for the "Improved Quality, Increased Efficiency, and Greater Returns" 2.0 special action for Shanghai-listed companies.

On June 23, the Shanghai Stock Exchange issued an open call for the "Enhance Quality, Increase Efficiency, and Return" 2.0 special action to all Shanghai-listed companies. The initiative focuses on improving the quality and efficiency of listed companies in five areas: improving operational development quality, improving corporate governance quality, improving information disclosure quality, improving investor returns quality, and improving social responsibility quality. The initiative guides companies to set clear goals for improving operational quality, such as selecting financial and non-financial indicators that reflect profitability or operational quality, and proposing targeted improvement measures. It also encourages companies to actively use capital market tools such as mergers and acquisitions, restructuring, and refinancing to address competitive issues in the industry. The initiative also encourages companies to reasonably increase dividend payout ratios and increase the frequency of cash dividends, encourages active implementation of share repurchases and cancellations, and encourages majority shareholders to increase their holdings. It also encourages companies to enhance investor communication through various forms such as performance presentations and visits to listed companies. In order to assist companies in formulating new special action plans, the Shanghai Stock Exchange has released accompanying model texts, added specific indicators related to operations, returns, and compliance, and clarified the main contents covered by the special action in the model text, providing clear guidance for listed companies to tailor their plans. The Shanghai Stock Exchange encourages all Shanghai-listed companies to participate in the "2.0" version of the special action and recommends that index component companies and companies with continuous A-class information disclosure actively lead by example. The initiative also actively promotes the construction of a market ecology for investing in high-quality listed companies, advocates for investors to actively practice value investment and long-term investment concepts, and pay more attention to listed companies that are standardized, of high quality, responsible, and provide good returns. Going forward, the Shanghai Stock Exchange will conscientiously implement the relevant requirements of the China Securities Regulatory Commission and further promote Shanghai-listed companies to continuously improve their operational quality and investment value, enhance investor satisfaction, strengthen the foundation for the stable operation of the capital market, and work with all parties in the market to promote the high-quality development of the capital market.