The Beijing Stock Exchange solicits public opinions on the modification of refinancing rules.

Recently, the Beijing Stock Exchange has modified the "Regulations on the Review of Securities Issuance and Listing of Listed Companies on the Beijing Stock Exchange" and solicited public opinions from the society starting from July 3, 2026. The modifications are as follows: First, improving the shelf issuance mechanism. Clarifying the specific standards for "high degree of information disclosure norms" in shelf issuance, and requiring sponsoring institutions to issue verification opinions on relevant information disclosure matters. Second, optimizing the requirements for the simplified procedure. Changing the requirement for authorization from the annual shareholders' meeting to the shareholders' meeting, and improving the timing for determining the issuance price and issuance object through competitive bidding. Third, optimizing the specific arrangements for the validity period of financial reports. In the context of canceling the "6+1" validity period for financial reports in the primary rules, it is specified that during the registration process, if the issuer discloses new annual or semi-annual reports, they can refer to the corresponding content of the latest announcement and submit the updated complete application materials within 10 working days. Fourth, clarifying the standards and requirements for significant changes and major violations. Clarifying the situations in which significant changes occur during the refinancing process of listed companies and the procedures that should be followed, as well as the criteria for determining major violations and the requirements for intermediary institutions to verify them.