and tips on major matters in the prospectus. According to the requirements of the securities

"Hong Kong commercial daily news" recently, the China Securities Regulatory Commission issued the gem, the gem bonus rules (hereinafter referred to as the new rules), quasi-IPO requirements gem company dividends promised to write the articles, and tips on major matters in the prospectus. According to the requirements of the securities, the issuer should be clear in the articles: issue shares to be listed after profit distribution policies, distribution of profitsPolicy research and assessments of procedures and decision-making mechanisms. At the same time, sponsor institutions need to be listed in addition to the company's dividend policy verification advice, lawyers and accountants also have to bear responsibility for verification of dividend policy. Profit distribution policy refinement of the new rules require, issue shares to be listed after profit distribution policies, including the distribution of profits, specific conditions and amount of cash dividends orCases, issue specific terms of stock dividends, the distribution of profits during the interval, such as distribution of profits shall perform the procedure for the consideration. It will be treated as included in the "major matters tips", published in the prospectus of the Home. Sponsor organizations diablo 3 gold, lawyers and accountants to have verification and verification responsibilities. In addition, should the articles be listed companies increase cash dividends certain provisions. IncludingBoard of Directors, supervisory board and shareholders ' research on profit distribution policies procedures and decision-making mechanisms. For example, due to large changes in the external business environment or their own operating conditions and the need to adjust the profit distribution policy, protection of shareholders ' rights should be the starting point, the shareholder proposal detailed demonstration and explanation of the General Assembly diablo 3 gold, and strict implementation of the relevant decision-making processes. Compulsory dividendAdverse developments with regard to prospectus disclosure, the issuer should disclose the profit distribution policy and implementation during the reporting period, including the distribution of profits is not cause, and retained the use of funds. And the company's dividend return factors considered by the planning and formulation and decision-making processes. A investment banker said, judging from the listing rules at the request of the new rules, regulators for gem IPO company dividends mandatory requirements are very high. One investment banker pointed out that, although not listed any hard constraints, in the implementation in practice, the SFC may be similar to the window to direct requests to the dividend commitments, especially for IPO companies, have been implementing this requirement. However, for the growth enterprise market, forcing dividend whether it is conducive toRising corporate value is still controversial. Studies have shown that rapid growth stage companies in greater demand for capital, dividends are bad for the long-term development of the company and share price. IPO rules or adjustments for investment bank said that compulsory dividend rules of implementation of and follow-up to, IPO from gem company began. Shanghai brokers of investment banking argue that Board and small bonusesRules certainly will continue. However, the Board with the gem and the detailed rules for the operation of small and a little bit of difference, because the Board (small) IPO profit targets and the gem is not the same. The source also revealed that IPO volumes of material be listed companies have joined the dividends promised in the original prospectus, the new Chairman of the SFC after taking office, on the IPO rules make some adjustments. Gold-line statement: Gold-line reproduced above, does not indicate that confirm the description for investor use only and does not constitute investment advice. Investor actions accordingly, and at your own risk.