Recently, the SZSE(Shenzhen Stock Exchange) announced the appraisal result of information disclosure of listed companies, GEM(stock code:002340) won the A-rating title, which is the fourth time that GEM had won this title since 2013, and it meant the regulatory authority’s full recognition to GEM’s standard governance and information disclosure work.

The results of this appraisal based on the quality of information disclosure of listed companies were divided into A, B, C, D four grades from high to low. It mainly conducted a comprehensive assessment from the information disclosure authenticity, accuracy, completeness, timeliness, legal compliance and fairness of listed companies, and whether listed companies were punished, disciplined or taken other regulatory measures was also taken into consideration. There are also some other aspects, including cooperation situation of listed companies with SZSE, information disclosure management circumstances etc. The results showed that, among 822 companies listed on the SME board, 189 were with A-rating, accounting for 22.99% of the companies appraised; 531 with B-rating, accounting for 64.60%; 79 with C-rating, accounting for 9.61%, 23 with D-rating, accounting for 2.80% of listed companies under evaluation.

Listed companies information disclosure assessment work is to improve the transparency of listed companies, which is an important institutional arrangement. Since its implementation in 2001, SZSE has continuously optimized the assessment dimension, assessment methods and the application of examination results, which has played a positive role in promoting the quality of information disclosure and the standard operation of listed companies.Since 2016, under the leadership of China Securities Regulatory Commission, SZSE has been sticking to comprehensive and strict supervision to increase first-line supervision of information disclosure of listed companies in accordance with the law by promoting industry supervision and deepening classification supervision. Finally, a much more adequate “honour list" and “blacklist" will be obtained.

Good information disclosure work is inseparable from the company\'s strong support of all staff. The company departments and each subsidiary should focus on the following aspects of the work: 1, carefully treat institutional investors and the media, strict requirements of intermediaries, business negotiations and such  opponents by signing a confidentiality agreement and commitment to ensure that the information is not leaked, and promise not to buy and sell or recommend others to buy and sell GEM stock and its derivatives before issuing official information; 2, fairly treat all investors. Communicate with investors about the company\'s operating situation, financial situation and other matters through annual report presentation, analyst meeting, roadshow etc. Do not disclose or leak significant undisclosed information; 3, Do not disclose undisclosed important events in public places such as the general meeting of shareholders.

In 2017, GEM will further enhance the level of information disclosure and standard governance, adhering to the principles of open, fair and just in stock market, developing strict information disclosure point, which means that the disclosure of important matters will be fully implemented at the first time to fulfill the disclosure obligation and fully guarantee the investors\' right to know; At the same time, GEM will strictly implement the management of insider information, to strengthen the training of information disclosure, so that “everyone is responsible for the disclosure of information", and effectively protect the legitimate rights and interests of investors, making unremitting efforts to create an excellent environmental listed company with standard governance and information disclosure in future!