公开发行证券的公司信息披露内容与格Rules on the Content and Format of Information 式准则第28号——创业板公司招股说明Disclosure of Companies that Publicly Offer
Securities No. 28 - Prospectus of Companies on the 书
Growth Enterprise Market
English Version
发文日期：20xx年07月20日 有效范围：全国 发文机关：中国证券监督管理委员会 文号：证监会公告[2009]17号 时效性：现行有效 生效日期：20xx年07月20日 所属分类：证券（证券期货法->证券） 中文版 Promulgation Date: 07-20-2009 Effective Region: NATIONAL Promulgator: China Securities Regulatory Commission Document No: Announcement of the China Securities Regulatory Commission [2009] No. 17 Effectiveness: Effective
Effective Date: 07-20-2009 Category: Securities（Securities & Futures Law->Securities）
全文： Full text: 公开发行证券的公司信息披露内容与格Rules on the Content and Format of Information 式准则第28号--创业板公司招股说明书 Disclosure of Companies that Publicly Offer
Securities No. 28 - Prospectus of Companies on the Growth Enterprise Market
证监会公告[2009]17号 Announcement of the China Securities Regulatory
Commission [2009] No. 17
July 20, 2009 20xx年7月20日
现公布《公开发行证券的公司信息披The Rules on the Content and Format of 露内容与格式准则第28号--创业板公司Information Disclosure of Companies that Publicly
Offer Securities No. 28 - Prospectus of Companies 招股说明书》，自公布之日起施行。
on the Growth Enterprise Market are hereby promulgated and shall come into effect as of the date of promulgation.
附件：公开发行证券的公司信息披露Attachment: Rules on the Content and Format of 内容与格式准则第28号--创业板公司招Information Disclosure of Companies that Publicly
Offer Securities No. 28 - Prospectus of Companies 股说明书
on the Growth Enterprise Market
目 录
第一章 总 则
第二章 招股说明书
第一节 封面、书脊、扉页、目录、释义
第二节 概 览 Table of Contents Chapter I General Provisions Chapter II Prospectus Section 1 Cover, Spine, Title Page, Content, Definition Section 2 Overview
第三节 本次发行概况
第四节 风险因素
第五节 发行人基本情况
第六节 业务和技术
第七节 同业竞争与关联交易
第八节 董事、监事、高级管理人员
与其他核心人员
第九节 公司治理
第十节 财务会计信息与管理层分
析
第十一节 募集资金运用
第十二节 未来发展与规划
第十三节 其他重要事项
第十四节 有关声明
第十五节 附 件
第三章 附 则 Section 3 Introduction of the Current Issue of Shares Section 4 Risk Factors Section 5 basic information on the Issuer Section 6 Business and Technology Section 7 Peer Competition and Associated-party Transactions Section 8 Directors, Supervisors, Senior Management and Other Core Personnel Section 9 Company Governance Section 10 Financial and Accounting Information and Managerial Analysis Section 11 Use of Funds Raised Section 12 Future Development and Planning Section 13 Other Important Matters Section 14 Relevant Statements
Section 15 Annexes
Chapter III Supplementary Provisions
Chapter I General Provisions 第一章 总 则
第一条 为规范首次公开发行股票的Article 1 For the purposes of regulating information 信息披露行为，保护投资者合法权益，根disclosure in the initial public offering of shares and 据《公司法》、《证券法》和《首次公开发protecting investors' legitimate rights and interests, 行股票并在创业板上市管理暂行办法》these Rules are hereby formulated in accordance （证监会令第61号）的规定，制定本准with the Company Law, the Securities Law and the 则。 Tentative Administrative Measures for Initial Public Offerings and Listings on the Growth Enterprise
Market (Order of the China Securities Regulatory
Commission No. 61).
第二条 申请在中华人民共和国境
内首次公开发行股票并在创业板上市的
公司（以下简称发行人）应按本准则编制
招股说明书，作为向中国证券监督管理委
员会（以下简称中国证监会）申请首次公
开发行股票的必备法律文件，并按本准则
的规定进行披露。
Article 2 Companies applying for initial public offering and listing of shares on the Growth Enterprise Market (GEM) within the territory of the People's Republic of China (hereinafter collectively referred to as "the Issuers" and individually as an Issuer) shall prepare their prospectuses pursuant to these Rules, which shall be statutory legal documents for applying for initial public offerings
of shares with China Securities Regulatory
Commission (CSRC), and shall disclose the same in
accordance with the provisions of these Rules.
第三条 本准则的规定是对招股说明Article 3 These Rules are the minimum 书信息披露的最低要求。不论本准则是否requirements on information disclosure in 有明确规定，凡对投资者投资决策有重大prospectus. All information that may have a major
影响的信息，均应披露。 impact on investors' investment decisions shall be disclosed regardless of whether such information is
explicitly specified herein.
第四条 本准则某些具体要求对发行
人确实不适用的，发行人可根据实际情
况，在不影响披露内容完整性的前提下作
适当调整，但应在申报时作书面说明。
Article 4 Where some specific requirements herein do not apply to an Issuer, such Issuer may make appropriate adjustments in line with the actual situation and on the premises that the integrity of the content disclosed is not affected, provided that it
shall make written explanation when applying for
and reporting such adjustments.
Article 5 Where an Issuer has sufficient evidences
to prove that some information required to be
disclosed under these Rules involves State secrets
and industry secrets or the disclosure of such
information may violate State laws and regulations
on confidentiality or may seriously damage
company interests, the Issuer may apply to CSRC
for exemption of disclosure in accordance with
these Rules.
Article 6 An Issuer may make appropriate technical
adjustments to the content of relevant parts of the
prospectus by mutual reference to avoid repetition
and to maintain conciseness, provided that the
integrity of information so disclosed is not affected
and no inconvenience in reading will be caused.
Article 7 All information disclosed in the prospectus
shall be authentic, accurate and complete.
Where a matter that shall be disclosed happens to an
Issuer after it has submitted the application
documents and before CSRC verifies such
documents, the Issuer shall explain to CSRC in
writing and revise the prospectus in a timely
manner.
Where a matter that shall be disclosed happens after
CSRC has verified an Issuer's application for public
offering of shares, the Issuer shall explain to CSRC
in writing and revise the prospectus upon approval
by CSRC. 第五条 发行人有充分依据证明本准则要求披露的某些信息涉及国家机密、商业秘密及其他因披露可能导致其违反国家有关保密法律法规规定或严重损害公司利益的，发行人可向中国证监会申请豁免按本准则披露。 第六条 在不影响信息披露的完整性和不致引起阅读不便的前提下，发行人可采用相互引征的方法，对各相关部分的内容进行适当的技术处理，以避免重复和保持文字简洁。 第七条 发行人在招股说明书中披露的所有信息应真实、准确、完整。 发行人报送申请文件后，在中国证监会核准前，发生应予披露事项的，应向中国证监会书面说明情况，并及时修改招股说明书。 发行人公开发行股票的申请经中国证监会核准后，发生应予披露事项的，应向中国证监会书面说明情况，并经中国证监会同意后相应修改招股说明书。
第八条 发行人在招股说明书中披露Article 8 The financial and accounting data 的财务会计资料应有充分的依据，所引用disclosed in the prospectus of an Issuer shall be 的发行人的财务报表、盈利预测报告（如sufficiently supported. The financial statements and
有）应由具有证券期货相关业务资格的会profit forecast report (if any) cited in the prospectus 计师事务所审计或审核。 shall have been audited or verified by an accounting firm duly qualified to engage in securities and
futures businesses.
第九条 发行人应在招股说明书显
要位置提示创业板投资风险，作如下声
明：
“本次股票发行后拟在创业板市场上
市，该市场具有较高的投资风险。创业板
公司具有业绩不稳定、经营风险高、退市
风险大等特点，投资者面临较大的市场风
险。投资者应充分了解创业板市场的投资
风险及本公司所披露的风险因素，审慎作
出投资决定。”
Article 9 The Issuer shall disclose investment risks in GEM at a prominent part of the prospectus, and make a statement as follows: "The shares under IPO are to be listed in GEM, a market with relatively high investment risks. GEM companies are characterized by unstable performance and high operating risks, and are subject to the risk of delisting, the investors, therefore, are faced with greater market risks. The investors are advised to make prudent investment decisions based on full understanding of the
investment risks in GEM and the risk factors
disclosed by this Company."
Article 10 The Issuer shall, as the case may be,
make a "Disclosure of Important Matters" on the
first page in the prospectus to advise the investors
on risks requiring special attention and other
important matters, and to remind the investors to
prudently read the entire text of the chapter titled
"Risk Factors" in the prospectus. 第十条 发行人应针对实际情况在招股说明书首页作“重大事项提示”，提醒投资者需特别关注的公司风险及其他重要事项，并提醒投资者认真阅读招股说明书“风险因素”一章的全部内容。
第十一条 发行人编制招股说明书Article 11 The Issuer shall make accurate citation of 应当准确引用有关中介机构的专业意见the professional advices or reports made by relevant 或报告。 agents when preparing the prospectus.
第十二条 发行人下属企业的资产
规模、收入或利润对发行人有重大影响
的，应参照本准则的规定披露该下属企业
的相关信息。
特定行业的发行人，除执行本准则的
规定外，还应执行中国证监会关于该行业
信息披露的特别规定。
Article 12 Where the assets scale or income or profit of the Issuer's subsidiaries may have a significant impact on the Issuer, the Issuer shall disclose such information accordingly in accordance with these Rules. Issuers in any special industry shall, besides abiding by these Rules, implement special provisions set by CSRC on the information disclosure in that
industry.
Article 13 The prospectus shall meet the following
general requirements:
1. The data cited shall be adequately and objectively
supported, with the sources indicated; 第十三条 招股说明书应符合下列一般要求： （一）引用的数据应有充分、客观的依据，并注明资料来源；
（二）引用的数字应采用阿拉伯数字，2. The figures cited shall be in Arabic numerals; the 货币金额除特别说明外，应指人民币金amounts shall mean amounts in Renminbi unless 额，并以元、千元或万元为单位； otherwise indicated; the amounts shall be measured
（三）招股说明书应使用事实描述性in such units as Yuan, one thousand Yuan, and ten
Yuan; 语言，尽量采用图表或其他较为直观的方thousand
式进行披露，保证其内容简明扼要、通俗3. The language shall be descriptive; the disclosure 易懂，突出事件实质，不得有祝贺性、广shall be made in graphics or other intuitive forms so 告性、恭维性或诋毁性的词句。 as to secure the conciseness and user-friendliness of the disclosed data; the essence of the described
events shall be highlighted without using any
congratulatory or advertising or compliment or
derogatory words.
第十四条 发行人应在中国证监会
指定网站披露招股说明书及其附件，并同
时在中国证监会指定报刊上作首次公开
发行股票并在创业板上市提示性公告：
“本公司首次公开发行股票申请已获中国
证监会核准，招股说明书及附件披露于中
国证监会指定网站（www.xxxx.xxx）和公
司网站（www.xxxx.xxx），并置备于本公
司、拟上市的证券交易所、保荐人、主承
销商和其他承销机构的住所，供公众查
阅。”
提示性公告还应当载有下列内容：
（一）发行股票的类型；
（二）发行股数；
（三）每股面值；
（四）发行方式与发行对象；
（五）承销方式；
（六）预计发行日期；
（七）发行人、保荐人、主承销商的
联系地址及联系电话。
Article 14 The Issuer shall disclose the prospectus and annexes thereof (if any) on the website designated by CSRC. Furthermore, the Issuer shall make an indicative notice of the initial public offering and listing on GEM of the shares in the following way: "The initial public offering applied for by this Company has been approved by CSRC. The prospectus and annexes thereto have been disclosed on the website designated by CSRC (www.xxxx.xxx) and the Company's website (www.xxxx.xxx). The prospectus and annexes are also available at the place of this Company, the proposed stock exchange, the place of the sponsor, the place of the underwriter and the place of other underwriting agencies." The indicative notice shall contain the following: 1. The type(s) of the shares to be issued; 2. The number of the shares to be issued; 3. The par value per share; 4. The method and object of the IPO; 5. The method of underwriting;
6. The estimated date of issue; and
7. The address and phone number of the Issuer, the
sponsor, and the lead underwriter.
Article 15 The Issuer shall, within 10 days upon
disclosure of the prospectus, submit five copies of
the full text of the official prospectus to CSRC and
its agency at the place where the Issuer is registered
respectively.
Chapter II Prospectus 第十五条 发行人应在招股说明书披露后10日内，将正式印刷的招股说明书全文文本一式五份，分别报送中国证监会及其在发行人注册地的派出机构。 第二章 招股说明书
第一节 封面、书脊、扉页、目录、Section 1 Cover, Spine, Title Page, Content,
Definition 释义
第十六条 招股说明书文本封面应
标有“×××公司首次公开发行股票并在创
业板上市招股说明书”字样，并载明发行
人、保荐人、主承销商的名称和住所。同
时，明确提示创业板投资风险，依照本准
则第九条作出恰当的声明。
Article 16 The cover of the prospectus shall be marked with the words "Prospectus for the Initial Public Offering and Listing on the Growth Enterprise Market of xxx Company", and shall indicate the name and domicile of the Issuer, the sponsor, and the lead underwriter. The Issuer shall clearly disclose the investment risks in GEM by
making a statement under Article 9 of these Rules.
Article 17 The spine of the prospectus shall be
marked with the words "Prospectus for the Initial
Public Offering and Listing on the Growth
Enterprise Market of xxx Company".
Article 18 The title page of the prospectus shall
contain the following contents:
1. The type(s) of the shares to be issued;
2. The number of the shares to be issued;
3. The par value per share;
4. The issuing price of the shares;
5. The estimated date of issue;
6. The proposed stock exchange;
7. The total equity after the IPO; if the company has
issued listed foreign shares, it shall also disclose the
number of domestically listed shares in circulation
and the number of overseas listed shares in
circulation;
8. The restricted shares held by shareholders prior to
the IPO and the commitment of the shareholders on
voluntary lock-up of shares;
9. The sponsor and the lead underwriter; and
10. The execution date of the prospectus.
Article 19 The Issuer shall make a statement as
follows on the title page of the prospectus:
"The Issuer and its directors, supervisors and senior
management undertake that there is no false record,
misleading statement or major omission in the
prospectus, and that they will be jointly and
severally liable for the authenticity, accuracy and
integrity of the prospectus."
"The person in charge of the Company, the person
in charge of accounting affairs, and the person in 第十七条 招股说明书文本书脊应标有“×××公司首次公开发行股票并在创业板上市招股说明书”字样。 第十八条 招股说明书扉页应载有下列内容： （一）发行股票类型； （二）发行股数； （三）每股面值； （四）每股发行价格； （五）预计发行日期； （六）拟上市的证券交易所； （七）发行后总股本，发行境外上市外资股的公司还应披露在境内上市流通的股份数量和在境外上市流通的股份数量； （八）本次发行前股东所持股份的限售安排、股东对所持股份自愿锁定的承诺； （九）保荐人、主承销商； （十）招股说明书签署日期。 第十九条 发行人应在招股说明书扉页作如下声明： “发行人及全体董事、监事、高级管理人员承诺招股说明书不存在虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性、完整性承担个别和连带的法律责任。” “公司负责人和主管会计工作的负责人、会计机构负责人保证招股说明书中财务会计资料真实、完整。”
“中国证监会、其他政府部门对本次
发行所作的任何决定或意见，均不表明其
对发行人股票的价值或投资者的收益作
出实质性判断或者保证。任何与之相反的
声明均属虚假不实陈述。”
“根据《证券法》的规定，股票依法
发行后，发行人经营与收益的变化，由发
行人自行负责，由此变化引致的投资风
险，由投资者自行负责。”
charge of the accounting organ undertake that the financial and accounting data stated in the prospectus is authentic and integrate." "The decisions or opinions made by CSRC and other government departments on the initial public offering do not constitute their substantive judgment on or guarantee to the value or investment return of the shares. Any statements to the contrary shall be false statements." "Under the Securities Law, the Issuer shall be liable
for changes in its business operation and proceeding
thereof, while the investors shall be liable for
investment risks brought by such changes"
Article 20 The table of contents of the prospectus
shall indicate the title and page number of each
chapter and section, the layout of which shall be
consistent with general practice.
Article 21 The Issuer shall define terms which may
cause understanding difficulty to the investors and
those which have specific meanings. The definitions
shall be printed on the page(s) following the table of
contents.
Section 2 Overview
Article 22 The Issuer shall make a statement as
follows: "The overview only represents a brief
introduction to the prospectus. Investors are advised
to prudently read the entire text of the prospectus
before making any investment decision."
Article 23 The Issuer shall make a concise
introduction to itself, the controlling shareholder(s)
thereof, and the actual controller. The Issuer shall
introduce its core business and key financial
data/indicators, and describe the initial public
offering as well as how the raised funds will be
used.
Article 24 The Issuer shall make a concise
disclosure of its core competitive advantages, and
describe the performance of such core competitive
advantages.
Section 3 Introduction of the Issue of Shares 第二十条 招股说明书的目录应标明各章、节的标题及相应的页码，内容编排也应符合通行的惯例。 第二十一条 发行人应对可能造成投资者理解障碍及有特定含义的术语作出释义。招股说明书的释义应在目录次页排印。 第二节 概 览 第二十二条 发行人应声明：“本概览仅对招股说明书全文作扼要提示。投资者作出投资决策前，应认真阅读招股说明书全文。” 第二十三条 发行人应简要披露发行人及其控股股东、实际控制人的情况，概述发行人的主营业务、主要财务数据及财务指标、本次发行情况及募集资金用途。 第二十四条 发行人应扼要披露其核心竞争优势，列示核心竞争优势的具体表现。 第三节 本次发行概况
第二十五条 发行人应披露其基本情
况，主要包括：
（一）注册中、英文名称；
（二）注册资本；
（三）法定代表人；
（四）成立日期；
（五）住所和邮政编码；
（六）电话、传真号码；
（七）互联网网址；
（八）电子信箱；
（九）负责信息披露和投资者关系的
部门、负责人和电话号码。
Article 25 The Issuer shall disclose certain basic information, including: 1. Its registered Chinese and English names; 2. Its registered capital; 3. Its legal representative; 4. The date of incorporation; 5. Its domicile and postal code; 6. Its telephone number(s) and fax number(s); 7. Its website; 8. Its email address; and 9. The name and phone number of the department and person in charge of information disclosure and investor relationship.
第二十六条 发行人应披露本次发行Article 26 The Issuer shall disclose the basic
on the IPO, including: 的基本情况，主要包括： information
（一）股票种类； 1. The type(s) of the shares to be issued;
The par value per share; （二）每股面值； 2.
（三）发行股数、占发行后总股本的3. The number of shares to be issued; and the 比例； proportion of such equity in the total equity;
The issuing price; （四）每股发行价格； 4.
（五）标明计算基础和口径的市盈率； 5. The price-earnings ratio, with the basis and
of calculation indicated; （六）预测净利润及发行后每股收益caliber
（如有）； 6. The estimated net profit and the post-issue
per share (if any); （七）发行前和发行后每股净资产； earnings
（八）标明计算基础和口径的市净率； 7. The pre-issue and post-issue and net assets per
（九）发行方式与发行对象； share;
（十）承销方式； 8. The price to book ratio, with the basis and caliber
calculation indicated; （十一）预计募集资金总额和净额； of
（十二）发行费用概算（包括承销费9. The method and object of the IPO;
The method of underwriting; 用、保荐费用、审计费用、评估费用、律10.
师费用、发行手续费用等）。 11. The estimated gross amount and net amount of the raised funds; and
12. The estimated issue cost (including the
underwriting fee, the sponsorship fee, the audit fee,
the assessment fee, the attorney's fee, the IPO
charges, etc).
第二十七条 发行人应披露下列机构
的名称、法定代表人、住所、联系电话、
传真，同时应披露有关经办人员的姓名：
（一）保荐人、主承销商及其他承销
机构；
（二）律师事务所；
（三）会计师事务所； Article 27 The Issuer shall disclose the name, legal representative, domicile, telephone number and fax number of the following organizations as well as the name of the handling personnel: 1. The sponsor, the lead underwriter and other underwriting agencies; 2. The law firm retained;
（四）资产评估机构；
（五）股票登记机构；
（六）收款银行；
（七）其他与本次发行有关的机构。
第二十八条 发行人应披露其与本次发行有关的保荐人、承销机构、证券服务机构及其负责人、高级管理人员、经办人员之间存在的直接或间接的股权关系或其他权益关系。
第二十九条 发行人应针对不同的发行方式披露预计发行上市的重要日期，主要包括：
（一）刊登发行公告的日期；
（二）开始询价推介的日期；
（三）刊登定价公告的日期；
（四）申购日期和缴款日期；
（五）股票上市日期。
3. The accounting firm retained; 4. The assets assessment institution retained; 5. The share registration agency; 6. The collecting bank; and 7. Other relevant institutions involved in the IPO. Article 28 The Issuer shall disclose the direct or indirect shareholding interests or other interests among the sponsor, the underwriters, the securities service organizations and their respective person in charge, senior management, and handling personnel involved in the IPO. Article 29 The Issuer shall, based on the method of IPO, disclose the milestones of the proposed listing, including: 1. The date of public announcement of the IPO; 2. The commencement date of inquiry and recommendation; 3. The date of public announcement of pricing; 4. The date of subscription and the date of payment; and
5. The date of listing.
Section 4 Risk Factors
Article 30 The Issuer shall, on the basis of priority, disclose all factors that may have significant adverse impact, directly or indirectly, on its business status, financial standing, sustainable profitability and growth. The Issuer shall make quantitative analysis of the disclosed risk factors. Where no quantitative analysis is available, a qualitative description shall be made instead. The Issuer shall make a clear explanation on the actual and possible influence of each disclosed risk factor on the Issuer in the reporting period. The Issuer shall make a "Disclosure of Important Matters" for risk factors that may have significant adverse impact on its business status, financial standing, sustainable profitability and growth. 第四节 风险因素 第三十条 发行人应当遵循重要性原则按顺序披露可能直接或间接对发行人经营状况、财务状况、持续盈利能力和成长性产生重大不利影响的所有因素。 发行人对所披露的风险因素应作定量分析，无法进行定量分析的，应有针对性地作出定性描述。对所披露的风险因素应明确说明该因素对发行人报告期内的实际影响以及可能对将来的具体影响。 对经营状况、财务状况、持续盈利能力和成长性有严重不利影响的风险因素，发行人应作“重大事项提示”。
第三十一条 发行人应针对自身实Article 31 The Issuer shall, based on the actual 际情况，具体地描述相关风险因素，描述situation, describe relevant risk factors in detail. The 应充分、准确，风险因素可能涉及但不限description shall be adequate and accurate. Risk
于下列内容：
（一）产品或服务的市场风险。可能涉及商业周期或产品生命周期的不利影响、公司品牌优势无法有效维持或增强、市场饱和、市场分割、过度依赖单一市场或客户、市场占有率下降、缺乏稳定的市场营销渠道等；
（二）业务模式风险。可能涉及业务模式不成熟或存在不利变化，创新模式缺乏持续性、稳定性对公司经营业绩产生不利影响，经营过度集中或分散等；
（三）经营业绩风险。可能涉及因产品或服务价格波动、成本波动及费用控制有效性不足引致的业绩不稳定，因汇率变化引致的业绩不稳定，因依赖关联方、非经常性损益或合并财务报表范围以外的投资收益波动导致经营业绩不稳定，以及因固定资产折旧大量增加而导致的未来业绩下滑风险等；
（四）资产质量或资产结构风险。可能涉及应收款项过大、账龄过长或其他资产周转能力较差导致的流动性风险，无形资产占净资产比例过高导致资产结构不合理的风险，主要资产减值准备计提不足的风险，主要资产价值大幅波动的风险以及对外投资的风险等；
（五）债务风险。可能涉及现金流状况不佳或债务结构不合理导致的偿债风险、重大担保或诉讼仲裁等或有事项导致的风险等；
（六）技术风险。可能涉及技术不成熟、技术产业化与市场化存在重大不确定性，核心技术或其他知识产权缺乏有效保护或保护期限短，缺乏核心技术或核心技术依赖他人，技术面临淘汰或被替代的风险等；
（七）投资项目风险。可能涉及市场前景、技术保障、产业政策、环境保护、土地使用、融资安排、与他人合作等方面存在的问题，因营业规模、营业范围扩大或者业务转型而导致的管理风险、业务风险，因产能扩大而导致的产品销售风险，以及实际募集资金超过预计数额的运用风险或项目存在资金缺口的风险等； factors include but are not limited to the following: 1. Risks in the product or service market, which may involve adverse impact on the business cycle or product life cycle, failure to effectively maintain or enhance the company's brand, market saturation, market segmentation, over-reliance on a single market, decline in customer share or market share, lack of stable marketing channels, etc.; 2. Business model risks, which may involve immaturity of or adverse change in the business model, adverse impact on the company's business performance due to lack of continuity and stability in the innovative model, over-centralization or decentralization of the company's business, etc.; 3. Business performance risks, which may involve instability in performance caused by product/service price fluctuation or ineffectiveness of cost control, instability in performance caused by changes in exchange rates, instability in performance caused by reliance on associated parties or non-recurring gains and losses or fluctuation in investment incomes off the consolidated financial statements, decrease in future performance caused by substantial increase in the depreciation of fixed assets, etc.; 4. Risks in asset quality or capital structure, which may involve liquidity risks caused by excessive size of receivables or excessive aging of accounts or poor liquidity of other assets, unreasonable asset structure caused by excessively high proportion of intangible assets in the net assets, insufficient provision for impairment of major assets, substantial fluctuation in the value of major assets, external investment risks, etc.; 5. Debt risks, which may involve debt repayment risks caused by poor cash flow or unreasonable debt structure, risks brought by major guarantee or litigation or arbitration or other contingencies, etc.; 6. Technical risks, which may involve immaturity of technology, significant uncertainties in the industrialization and market-orientation of technology, lack of effective protection for core technology or other intellectual property or lack of sufficient duration of such protection, lack of core technology or reliance on others' core technology,
（八）内部管理风险。可能涉及组织obsoleteness or replacement of technology, etc.; 模式和管理制度不完善的风险，内部控制7. Risks in investment projects, which may involve 有效性不足导致的风险，内部约束不健全risks in market prospect, technical support, 的风险，因股权结构复杂或关联关系复杂industrial policy, environmental protection, land 引致的风险，因核心管理团队不稳定或缺use, financing arrangements, cooperation with 乏应对业务和资产规模扩张的管理能力、others; management/business risks caused by 缺乏及时应对市场竞争和行业发展变化business expansion or restructuring, sales risks 的反应能力引致的风险，因管理人员或其caused by capacity expansion, operating risks 他核心人员变动影响公司持续经营的风caused by difference between the funds actually 险等； raised and the funds estimated to be raised, risks
（九）控制（权）风险。可能涉及控caused by lack of project fund, etc.; 股股东或实际控制人利用控制地位损害8. Internal management risks, which may involve 公司利益的风险，因股权分散或实际控制risks caused by deficit in the organizational model 人控制的股份比例较低可能导致控制权and management system, risks caused by lack of 变化的风险，股东间关于股权的协议安排effective internal control, risks caused by 可能导致公司控制权变化的风险等； inadequate internal constraint, risks caused by
（十）行业风险。可能涉及行业前景、complex ownership structure association, risks 行业经营环境的不利变化，公司所在行业caused by instability of the core management team 被市场接受认可程度低，产业政策、行业or lack of management capability for business 管理等法律、法规、政策的不利变化等； expansion and assets expansion lack of the ability to （十一）其他法律、法规、政策变化make timely response to market competition and 的风险。可能涉及财政、金融、税收、土industry development, impact on the sustainable 地使用、环境保护等方面法律、法规、政operation of the company caused by changes in the
or other key personnel; 策变化引致的风险； management
（十二）自然灾害、安全生产、外贸9. Control (right) risks, which may involve possible 环境及其他可能严重影响公司持续经营damage to the company's interests caused by the 的风险因素。 controlling shareholder or the actual controller by taking advantage of their controlling the status,
possible change in the company's controlling right
caused by dispersed ownership or low percentage of
shares held by the actual controller, possible change
in the company's controlling right caused by share
arrangements made by the shareholders, etc.;
10. Industry risks, which may involve adverse
changes in the outlook or operating environment of
the industry, low market acceptance of the industry,
adverse changes in the industrial policies, industrial
management rules, and other laws, regulations, and
policies governing the industry etc.;
11. Risks caused by changes in laws, regulations
and policies, including laws, regulations and
policies in respect of public economy, finance, tax,
land use, environmental protection, etc.; and
12. Risks relating to natural disasters, production
safety, foreign industry environment and other risk
factors that may seriously affect the sustainable
operation of the company.
第五节 发行人基本情况
第三十二条 发行人应详细披露公
司改制重组及设立情况，主要包括：
（一）设立方式；
（二）发起人；
（三）发行人改制设立之前，主要发
起人拥有的主要资产和从事的主要业务；
（四）发行人成立时拥有的主要资产
和从事的主要业务；
（五）发行人成立之后，主要发起人
拥有的主要资产和从事的主要业务；
（六）改制前原企业的业务流程、改
制后发行人的业务流程，以及原企业和发
行人业务流程之间的联系；
（七）发行人成立以来，在生产经营
方面与主要发起人的关联关系及演变情
况；
（八）发起人出资资产的产权变更手
续办理情况。
发行人应详细披露与控股股东、实际
控制人及其控制的其他企业，在资产、人
员、财务、机构、业务方面的分开情况，
说明是否具有完整的业务体系及面向市
场独立经营的能力。
Section 5 basic information on the Issuer Article 32 The Issuer shall disclose its restructuring and incorporation, including: 1. The method of incorporation; 2. The promoters; 3. The major assets and businesses of the major promoters before the restructuring or incorporation; 4. The major assets and businesses of the Issuer at the time of incorporation; 5. The major assets and businesses of the major promoters after the incorporation of the Issuer; 6. The business process of the Issuer's precedent before the restructuring, the business process of the Issuer after the restructuring, and the relationship between such business processes; 7. The business relationship between the Issuer and the major promoters, and the development of such relationship; and 8. Transfer of title in the assets contributed by the promoters. The Issuer shall make a detailed disclosure concerning how its assets, personnel, accounting, organ, and business are separated from the controlling shareholder, the actual controller and other enterprises controlled by the actual controller.
The Issuer shall also indicate whether it has a sound
business system and independent market operation
ability.
Article 33 The Issuer shall make a detailed
disclosure of major assets restructuring ever since
its incorporation, including the contents of the
restructuring, the statutory procedures performed,
and the influence on the Issuer's business,
management, actual controller and operation
performance.
Article 34 The Issuer shall use block diagrams or
other effective forms to make full disclosure of the
shareholders holding 5% or more of its shares, the
actual controller, the controlling shareholder, the 第三十三条 发行人应详细披露设立以来的重大资产重组情况，包括其具体内容、所履行的法定程序以及对发行人业务、管理层、实际控制人及经营业绩的影响。 第三十四条 发行人应采用方框图或其他有效形式，全面披露持有发行人5%以上股份的主要股东、实际控制人，控股股东、实际控制人所控制的其他企业，发
行人的职能部门、分公司、控股子公司、
参股公司，以及其他有重要影响的关联
方。
actual controller, and other enterprises controlled by the actual controller, as well as its functional departments, branches, holding subsidiaries, joint stock companies and associated parties that have a
major impact on it.
Article 35 The Issuer shall make a concise
disclosure of its holding subsidiaries and joint stock
companies, including their respective date of
incorporation, registered capital, paid-up capital,
place of registration, place of business, shareholding
structure, primary business, the total assets and net
assets by the end of the preceding year and the most
immediate previous period, and the net profit of the
preceding year and the most immediate previous
period. The Issuer shall indicate whether the
financial data has been audited or not; if yes, the
name of the audit institution shall also be indicated. 第三十五条 发行人应简要披露其控股子公司、参股公司的情况，主要包括成立时间、注册资本、实收资本、注册地和主要生产经营地、股东构成及控制情况、主营业务、最近一年及一期末的总资产、净资产、最近一年及一期的净利润，并标明有关财务数据是否经过审计及审计机构名称。
第三十六条 发行人应披露持有发Article 36 The Issuer shall disclose the basic 行人5%以上股份的主要股东及实际控制information on its actual controller and the 人的基本情况，主要包括： shareholders holding 5% or more of its shares,
（一）持有发行人5%以上股份的主including:
要股东及实际控制人为法人的，应披露成1. If the actual controller and the shareholders 立时间、注册资本、实收资本、注册地和holding 5% or more of the Issuer's shares are legal 主要生产经营地、股东构成、主营业务、persons, the disclosure shall cover their respective 最近一年及一期末的总资产、净资产、最time of incorporation, registered capital, paid-up 近一年及一期的净利润，并标明有关财务capital, place of registration, place of business, 数据是否经过审计及审计机构名称；为自shareholding structure, primary business, the total 然人的，则应披露国籍、是否拥有永久境assets and net assets by the end of the preceding 外居留权、身份证号码； year and the most immediate previous period, and
（二）控股股东和实际控制人控制的the net profit of the preceding year and the most 其他企业的情况，主要包括成立时间、注immediate previous period. The Issuer shall indicate 册资本、实收资本、注册地和主要生产经whether the financial data has been audited or not, if 营地、主营业务、最近一年及一期末的总yes, the name of the audit institution shall also be 资产、净资产、最近一年及一期的净利润，indicated. If they are individuals, the disclosure 并标明这些数据是否经过审计及审计机shall indicate their respective nationality, ID card 构名称； number, and whether they hold permanent overseas
（三）控股股东和实际控制人直接或residence.
间接持有发行人的股份是否存在质押或2. The Issuer shall disclose the basic information on 其他有争议的情况。 the controlling shareholder and other enterprises 实际控制人应披露至最终的国有控controlled by the actual controller, including their 股主体或自然人。 respective time of incorporation, registered capital, paid-up capital, place of registration, place of
business, primary business, the total assets and net
assets by the end of the preceding year and the most
immediate previous period, and the net profit of the
preceding year and the most immediate previous
period. The Issuer shall indicate whether the
financial data has been audited or not, if yes, the
name of the audit institution shall be indicated.
3. The Issuer shall disclose all pledges and other
controversial circumstances of the shares directly or
indirectly held by the controlling shareholder or the
actual controller.
The actual controller to be disclosed shall mean the
ultimate State-owned holding entity or natural
person actually controlling the Issuer.
第三十七条 发行人应披露有关股
本的情况，主要包括：
（一）本次发行前的总股本、本次发
行的股份，以及本次发行的股份占发行后
总股本的比例；
（二）前十名股东；
（三）前十名自然人股东及其在发行
人处担任的职务；
（四）发行人股本有国有股份或外资
股份的，应根据有关主管部门对股份设置
的批复文件披露相应的股东名称、持股数
量、持股比例。涉及国有股的，应在国有
股东之后标注“SS”（State-owned
Shareholder的缩写），并披露前述标识的
依据及标识的含义；
（五）最近一年发行人新增股东的持
股数量及变化情况、取得股份的时间、价
格和定价依据。属于战略投资者的，应予
注明并说明具体的战略关系。
新增股东为法人的，应披露其主要股
东及实际控制人；为自然人的，应披露国
籍、拥有永久境外居留权情况（如有）、
身份证号码；
（六）本次发行前各股东间的关联关
系及关联股东的各自持股比例；
（七）本次发行前股东所持股份的限
售安排和自愿锁定股份的承诺。
Article 37 The Issuer shall disclose relevant information on the shares to be issued, including: 1. The total equity before the issue, the shares to be issued, and the proportion of the equity to be issued in the total equity; 2. The top ten shareholders; 3. The top ten natural person shareholders and their respective titles in the Issuer; 4. If the Issuer has issued any State-owned shares or foreign shares, it shall disclose the shareholders' name, and the number and proportion of shares held by them respectively. If the Issuer has issued any State-owned shares, it shall mark "SS" (abbreviation of "State-owned shareholder") on the name of the State-owned shareholders, and give explanation on the basis and meaning of such mark; 5. The number of shareholders newly subscribing shares of the Issuer in the preceding year, the changes in the number of shares held by such shareholders, the time when such shareholders obtain the shares, the price of the shares, and the pricing basis shall be disclosed. Strategic investors shall be identified with the strategic relationship explained. If the new shareholder is a legal person, the Issuer shall disclose the major shareholders and actual controller of such new shareholder. If the new shareholder is a natural person, the Issuer shall
disclose his/her nationality, ID card number, and
whether they hold permanent overseas residence.
6. The inter-relationship among the shareholders
before the IPO as well as their respective
shareholding in each other; and
7. The restricted shares held by shareholders prior to
the IPO, and the commitment of voluntary lock
made by the shareholders.
第三十八条 发行人曾存在工会持
股、职工持股会持股、信托持股、委托持
股或股东数量超过二百人的，应详细披露
有关股份的形成原因及演变情况。进行过
清理的，应当说明是否存在潜在问题和风
险隐患，以及有关责任的承担主体等。
Article 38 If any of the Issuer's shares were once held by the industry union, or the board of shareholding employees, or held in trust or escrow, or if there are more than two hundred shareholders, the Issuer shall make a detailed disclosure of the formation and evolution of such shares. If the Issuer is ever subject to liquidation, the Issuer shall
indicate whether there are any potential problems or
risks therein, and specify the liable parties, etc.
Article 39 The Issuer shall make a concise
disclosure of the information on its staff and social
benefits that such staff are entitled to, including:
1. The number of and changes in the staff;
2. The professional structure of the staff;
3. The education background of the staff;
4. The age structure of the staff; and
5. The Issuer's implementation of the social security
system, the housing accumulation fund system and
the medical system, etc.
Article 40 The Issuer shall disclose the major
commitments made by the actual controller, any
shareholder holding 5% or more of the Issuer's
shares, the shareholding directors, the shareholding
supervisors and the shareholding senior
management as well as implementation of such
commitments.
Section 6 Business and Technology 第三十九条 发行人应简要披露员工及其社会保障情况，主要包括： （一）员工人数及变化情况； （二）员工专业结构； （三）员工受教育程度； （四）员工年龄分布； （五）发行人执行社会保障制度、住房公积金缴纳、医疗制度等情况。 第四十条 发行人应披露实际控制人、持有5%以上股份的主要股东以及作为股东的董事、监事、高级管理人员作出的重要承诺及其履行情况。 第六节 业务和技术
第四十一条 发行人应披露主营业Article 41 The Issuer shall disclose its primary 务、主要产品或服务及设立以来的变化情business, major products or services, and changes 况。 thereof ever since its incorporation.
第四十二条 发行人应披露其所处Article 42 The Issuer shall disclose the basic
of its industry, including: 行业的基本情况，主要包括： condition
（一）行业主管部门、行业监管体制、1. The government department in charge of the 行业主要法律法规及政策等； industry, the regulatory system, the major laws,
（二）行业竞争格局和市场化程度、
行业内的主要企业和主要企业的市场份
额、行业进入障碍、市场供求状况及变动
原因、行业利润水平的变动趋势及变动原
因等；
（三）影响行业发展的有利和不利因
素，如产业政策、技术替代、行业发展瓶
颈、国际市场冲击等；
（四）行业技术水平及技术特点、行
业特有的经营模式、行业的周期性、区域
性或季节性特征等；
（五）发行人所处行业与上下游行业
之间的关联性，上下游行业发展状况对本
行业及其发展前景的有利和不利影响；
（六）出口业务比例较大的发行人，
还应披露产品进口国的有关进口政策、贸
易摩擦对产品进口的影响、以及进口国同
类产品的竞争格局等情况。
regulations and policies governing the industry, etc.; 2. Competition and market-orientation of the industry, major enterprises in the industry, market shares of such major enterprises, industry entry barriers, supply and demand relationship in the market and reasons for changes thereof, trends of and reasons for the changes in the profit level, etc.; 3. Favorable and unfavorable factors affecting the development of the industry, such as industrial policy, technology substitution, development bottlenecks, international market shocks, etc.; 4. Technical standards and technical features of the industry, special business model of the industry, cyclical, regional or seasonal characteristics of the industry, etc.; 5. Correlation between the Issuer's industry and the upstream/downstream industries, favorable and unfavorable impacts of the development of the upstream/downstream industries on the prospect of
the Issuer's industry; and
6. It export constitutes a larger proportion of the
Issuer's business, the Issuer shall also disclose the
import policies set by the importing countries, the
impact of industry friction on import, competition
on similar products in the importing countries, etc.
Article 43 The Issuer shall disclose its competitive
status in the industry, the market share of its
products or services, changes in the market share in
the preceding three years, future trends, brief
introduction of its major rivals, etc.
Article 44 The Issuer shall disclose its primary
business, including:
1. The usage of its major products or services;
2. The process flow/services flow of its major
products or services;
3. Its primary business models, such as the purchase
model, the production or service model, the
marketing and management model, and the profit
model;
4. The scale of major products or services in the
reporting period (capacity, output and sales volume,
or service capability and service volume), sales
revenue, major consumer groups of the products or 第四十三条 发行人应披露其在行业中的竞争地位，说明产品或服务的市场占有率、近三年的变化情况及未来变化趋势，主要竞争对手的简要情况等。 第四十四条 发行人应披露与主营业务相关的情况，主要包括： （一）主要产品或服务的用途； （二）主要产品的工艺流程图或服务的流程图； （三）主要业务模式，如采购模式、生产或服务模式、营销及管理模式，以及盈利模式； （四）列表披露报告期内各期主要产品或服务的规模（产能、产量、销量，或服务能力、服务量）、销售收入，产品或服务的主要消费群体、销售价格的变动情况；报告期内各期向前五名客户合计的销
售额占当期销售总额的百分比，向单个客
户的销售比例超过总额的50%或严重依
赖于少数客户的，应披露其名称及销售比
例。该客户为发行人的关联方的，则应披
露产品最终实现销售的情况。受同一实际
控制人控制的销售客户，应合并计算销售
额；
（五）报告期内主要产品或服务的原
材料、能源及其供应情况，主要原材料和
能源的价格变动趋势、主要原材料和能源
占成本的比重；报告期内各期向前五名供
应商合计的采购额占当期采购总额的百
分比，向单个供应商的采购比例超过总额
的50%或严重依赖于少数供应商的，应披
露其名称及采购比例。受同一实际控制人
控制的供应商，应合并计算采购额；
（六）发行人应披露董事、监事、高
级管理人员和其他核心人员，主要关联方
或持有发行人5%以上股份的股东在上述
供应商或客户中所占的权益。若无，亦应
说明；
（七）主要产品或服务的质量控制情
况，包括质量控制标准、质量控制措施、
出现的质量纠纷等；
（八）存在高危险、重污染情况的，
应披露安全生产及污染治理情况、因安全
生产及环境保护原因受到处罚的情况、近
三年相关费用成本支出及未来支出情况，
说明是否符合国家关于安全生产和环境
保护的要求。
发行人的业务及其模式具有创新性
的，应披露其独特性、创新性以及持续创
新机制。
services, changes in the selling price; percentage of the lump sum sales to the top five customers in the total sales in the reporting period. If the sales to a single customer account for more than 50% of the total sales volume, or if the sales heavily depend on a small number of customers, the Issuer shall disclose the name and sales ratio of such customers. If such a customer is an associated party of the Issuer, the Issuer shall disclose the final sales data. The sales to customers controlled by the same actual controller shall be consolidated; 5. The raw materials and energies used to produce the major products or provide the major services in the reporting period and supply thereof, trend of changes in the price of such raw materials and energies, the proportion of the cost of such raw materials and energies in the total cost; percentage of the lump sum purchase from the top five suppliers in the total purchase in the reporting period. If the purchase from a single supplier accounts for more than 50% of the total purchase volume, or if the purchase heavily depends on a small number of suppliers, the Issuer shall disclose the name and purchase ratio of such suppliers. The purchase from suppliers controlled by the same actual controller shall be consolidated; 6. The Issuer shall disclose the interests of the directors, supervisors, senior management, other core personnel, major associated parties, or shareholders holding 5% or more of the Issuer's shares in the above-mentioned suppliers or customers; in case of absence of such interests, the Issuer shall clarify to that effect; 7. The quality control of the major products or
services, including quality control standards, quality
control measures, disputes over quality, etc.; and
8. If the Issuer's business operation is highly risky
or causes heavy pollution, the Issuer shall disclose
the production safety and pollution control, the
punishment on violation of production safety or
environmental pollution, cost incurred in the
preceding three years, costs estimated to be incurred
in the future. The Issuer shall also indicate whether
it complies with the production safety and
environmental protection requirements set by the
State.
If the Issuer's business or business model is
innovative, the uniqueness and innovation in such
business or business model as well as the
continuous innovation mechanism adopted the
Issuer shall be disclosed.
第四十五条 发行人应按对业务经
营的重要性程度列表披露与其业务相关
的主要固定资产、无形资产等资源要素，
主要包括：
（一）经营使用的主要生产设备、房
屋建筑物，披露取得和使用情况、成新率
或尚可使用年限、在发行人及下属企业的
分布情况以及设备大修或技术改造的周
期、计划实施安排及对公司经营的影响；
（二）主要无形资产情况，主要包括
商标、专利、非专利技术、土地使用权、
水面养殖权、探矿权、采矿权等的数量、
取得方式和时间、使用情况，披露使用期
限或保护期、最近一期末账面价值，以及
上述资产对发行人生产经营的重要程度；
（三）其他对发行人经营发生作用的
资源要素。
发行人允许他人使用自己所有的资
源要素，或作为被许可方使用他人资源要
素的，应简要披露许可合同的主要内容，
包括许可人、被许可人、许可使用的具体
资源要素内容、许可方式、许可年限、许
可使用费等，以及合同履行情况。若发行
人所有或使用的资源要素存在纠纷或潜
在纠纷的，应明确说明。
Article 45 The Issuer shall, according to the principle of priority, make disclosure of the major fixed assets, intangible assets and other elements relating to its business in the form of a table, including: 1. The acquisition method, use, age or remaining service life of major production equipment and buildings used in its business operation, the distribution of such equipment and buildings in the Issuer and its subsidiaries, the cycle of overhaul or transformation, the implementation schedules, and the impact on the business operation of the company; 2. Information about the major intangible assets, including the quantity, use, use term or protection term of industry marks, patents, non-patent technologies, land use rights, water breeding rights, prospecting rights, mining rights, etc. as well as the method and time of obtaining such assets, the book value of such assets at the end of the most immediate previous period, as well as the importance of importance in the Issuer's production and operation; and 3. Other resources and elements affecting business operation of the Issuer. If the Issuer allows others to use its resources or
elements, or is licensed to use others' resources or
elements, it shall make a brief disclosure of the
major contents of the license contract, including the
name of the licensee, name of the licensee, the
license fee, etc. as well as the performance of the
license contract. If there is any existing or potential
dispute over the resource or element owned or used
by the Issuer, such disputes shall be indicated.
第四十六条 发行人应披露其拥有的Article 46 The Issuer shall disclose the franchise 特许经营权的情况，主要包括特许经营权right held by it, if any, including the acquisition
的取得情况，特许经营权的期限、费用标method, the time limit of the franchise, the fee rate, 准，对发行人持续生产经营的影响。 and its impact on the sustainable production and operation of the Issuer.
第四十七条 发行人应披露其主要
产品或服务的核心技术，披露技术来源、
技术水平、成熟程度，说明技术属于原始
创新、集成创新或引进消化吸收再创新的
情况，以及核心技术产品收入占营业收入
的比例。
Article 47 The Issuer shall disclose the core technology of its major products or services, including the sources, level and maturity of such technology. The Issuer shall also specify whether such technology is an original innovation or integrated innovation or re-innovation, and indicate the proportion of the revenue churned out by the
core-technology-based products in the total revenue.
Article 48 The Issuer shall disclose its technology
reserve, including the progress and target of the
ongoing research and development projects, the
structure of the research and development costs the
preceding three years and the most immediate
previous period, as well as the proportion of such
cost in the total revenue. If the Issuer participates in
any research and development project by
cooperating with others, it shall also specify the
major contents of the cooperation agreement, the
achievement distribution plan, the guaranty
measures, etc.
The Issuer shall disclose its technological
innovation mechanism, and specify the organization
of the research and development work as well as the
innovation promotion systems and arrangements,
etc.
Article 49 The Issuer shall disclose the proportion
of core technical staff and R&D staff in the total
number of staff, the professional qualifications held
thereby, the major achievements and awards, the
major changes in the core technical personnel in the
preceding two years, and the impact of such
changes on the Issuer . 第四十八条 发行人应披露技术储备情况，主要包括正在从事的研发项目进展情况、拟达到的目标，最近三年及一期研发费用的构成及占营业收入的比例。与其他单位合作研发的，还需说明合作协议的主要内容、研究成果的分配方案及采取的保密措施等。 发行人应披露保持技术创新的机制，说明研发的组织、促进技术创新的制度安排等。 第四十九条 发行人应披露其核心技术人员、研发人员占员工总数的比例，所取得的专业资质及重要科研成果和获得的奖项，披露最近两年核心技术人员的主要变动情况及对发行人的影响。
第五十条 发行人在中华人民共和Article 50 If the Issuer engages in production or 国境外进行生产经营的，应对有关业务活operation outside the territory of the People's 动进行地域性分析。发行人在境外拥有资Republic of China, a regional analysis shall be made 产的，应详细披露该资产的具体内容、资on its operating activities. If the Issuer has any 产规模、所在地、经营管理和盈利情况等。 offshore assets, it shall disclose in detail the content, scale, location, management, profitability, etc. of the
assets.
第七节 同业竞争与关联交易 Section 7 Peer Competitions and Associated-party
Transactions
Article 51 The Issuer shall disclose whether it
engages in any same or similar business as the
controlling shareholder, the actual controller, or
other enterprises controlled by the actual controller.
If yes, the Issuer shall give reasonable explanation
on the existence or absence of peer competition. 第五十一条 发行人应披露是否存在与控股股东、实际控制人及其控制的其他企业从事相同、相似业务的情况。对存在相同、相似业务的，发行人应对是否存在同业竞争作出合理解释。
第五十二条 发行人应披露控股股Article 52 The Issuer shall disclose the commitment 东、实际控制人作出的避免同业竞争的承of non-peer-competition made by the controlling 诺。 shareholder and the actual controller.
第五十三条 发行人应根据《公司
法》和企业会计准则的相关规定披露关联
方、关联关系和关联交易。
Article 53 The Issuer shall, in accordance with the Company Law and the corporate accounting rules, make disclosure of its associated parties, associations, and associated-party transactions. 第五十四条 发行人应根据交易的Article 54 The Issuer shall, based on the nature and 性质和频率，按照经常性和偶发性分类披frequency of transactions, disclose recurrent 露关联交易及关联交易对其财务状况和associated-party transactions and non-recurrent 经营成果的影响。 associated-party transactions respectively, and 购销商品、提供劳务等经常性的关联specify their impact on its financial standing and
achievements. 交易，应分别披露报告期内关联交易方名operating
称、交易内容、交易金额、交易价格的确For recurrent associated-party transactions for the 定方法、占当期营业收入或营业成本的比purchase or sale of goods or provision of services in 重、占当期同类型交易的比重以及关联交the reporting period, the Issuer shall disclose the 易增减变化的趋势，与交易相关应收应付name of the associated parties, the content, amount, 款项的余额及增减变化的原因，以及上述pricing method of the transaction, the proportion of 关联交易是否仍将持续进行。 such transaction in the operating income or 偶发性的关联交易，应披露关联交易operation cost in the current period, the proportion 方名称、交易时间、交易内容、交易金额、of such transaction in the total transactions of the 交易价格的确定方法、资金的结算情况、same type in the current period, and the trend of 交易产生的利润及对发行人当期经营成such transactions. The issuer shall also specify 果的影响、交易对公司主营业务的影响。 whether such transactions are ongoing or not. For non-recurrent associated-party transactions, the
Issuer shall disclose the name of the associated
parties, the date, content, amount, pricing method of
the transaction, the payment settlement under such
transaction, the profit generated by such transaction,
the impact of such transaction on the Issuer's
operating achievements in the current period, and
the impact of such transaction on the company's
primary business.
第五十五条 发行人应披露公司章
程中对关联交易决策权限与程序作出的
规定，披露公司章程中关联股东或利益冲
突的董事在关联交易表决中的有关回避
的规定，披露所作出的公允声明。
发行人应披露报告期内发生的关联
交易是否履行了公司章程规定的程序，披
露独立董事对关联交易履行的审议程序
是否合法及交易价格是否公允的意见。
Article 55 The Issuer shall disclose the clauses in its Articles of Association which specify the power and procedures of decision-making, and the clauses in the Articles of Association which specify the withdrawal rules applicable to shareholders or directors having an interest in the associated-party transactions. The statement of fairness made relevant parties shall also be disclosed. The Issuer shall disclose whether the associated-party transactions made in the reporting
period are compliant with the procedures set forth in
the Articles of Association, whether the procedures
adopted by the independent director to review the
associated-party transactions are lawful, and
whether the transaction price is fair.
Senior 第八节 董事、监事、高级管理人员Section 8 Directors, Supervisors,
Management and Other Core Personnel 与其他核心人员
第五十六条 发行人应披露董事、监
事、高级管理人员及其他核心人员的简要
情况，主要包括：
（一）姓名、国籍及境外居留权；
（二）性别；
（三）年龄；
（四）学历；
（五）职称；
（六）主要业务经历；
（七）曾经担任的重要职务及任期；
（八）现任职务及任期。
对于董事、监事，应披露其提名人，
并披露上述人员的选聘情况。
Article 56 The Issuer shall disclose the basic information on the directors, supervisors, senior management and other core personnel, including: 1. Their name, nationality and overseas residence right; 2. Gender; 3. Age; 4. Academic degree; 5. Title; 6. Major working experience; 7. Key positions held in the preceding and tenure thereof; and 8. The position currently held and tenure thereof. The persons who nominate the directors and
supervisors shall be disclosed. The selection
procedures of the above-mentioned personnel shall
also be disclosed.
Article 57 The Issuer shall prepare a table to
disclose the Issuer's shares directly or indirectly
held by its directors, supervisors, senior
management, other core personnel and their
respective close relatives in any manner, the
shareholder's name, the changes in the shares held
by them in the preceding three years, the pledge or
freezing of such shares. 第五十七条 发行人应列表披露董事、监事、高级管理人员、其他核心人员及其近亲属以任何方式直接或间接持有发行人股份的情况，并应列出持有人姓名，近三年所持股份的增减变动以及所持股份的质押或冻结情况。
第五十八条 发行人应披露董事、监
事、高级管理人员及其他核心人员的其他
对外投资情况。有关对外投资与发行人存
在利益冲突的，应予特别说明，并披露其
投资金额、持股比例以及有关承诺和协
议。对于存在利益冲突情形的，应披露解
决情况。无该种情形的，则应予以声明。
Article 58 The Issuer shall disclose other investments made by its directors, supervisors, senior management, and other core personnel. If such investment contains any conflict of interest of the Issuer, it shall be stated to that effect, in which case, the amount of investment made by such personnel, their shareholding proportion, and the commitments and agreements made by them shall
be disclosed. If there is a conflict of interest, the
solution thereto shall be disclosed. If there is no
conflict of interest, a statement to that effect shall be
made.
Article 59 The Issuer shall disclose the income
received by its directors, supervisors, senior
management, and other core personnel from the
Issuer and its affiliates in the preceding year, as well
as pension plans and other benefits enjoyed by such
personnel.
Article 60 The Issuer shall disclose part-time work
undertaken by its directors, supervisors, senior
management, and other core personnel, the
relationship between the Issuer and the employer
offering such part-time work. If there is no such
part-time work, a statement to that effect shall be
made. 第五十九条 发行人应披露董事、监事、高级管理人员及其他核心人员最近一年从发行人及其关联企业领取收入的情况，以及所享受的其他待遇和退休金计划等。 第六十条 发行人应披露董事、监事、高级管理人员及其他核心人员的兼职情况及所兼职单位与发行人的关联关系。没有兼职的，应予以声明。
第六十一条 发行人应披露董事、监Article 61 The Issuer shall disclose the kinship 事、高级管理人员及其他核心人员相互之among its directors, supervisors, senior 间存在的亲属关系。 management, and other core personnel.
第六十二条 发行人应披露与董事、
监事、高级管理人员及其他核心人员所签
定的协议，董事、监事、高级管理人员及
其他核心人员作出的重要承诺，以及有关
协议或承诺的履行情况。
Article 62 The Issuer shall disclose all the agreements made with its directors, supervisors, senior management, and other core personnel, all the important undertakings made by its directors, supervisors, senior management, and other core personnel, and performance of such agreements and
undertakings.
第六十三条 发行人应披露董事、监Article 63 The Issuer shall disclose whether its 事、高级管理人员是否符合法律法规规定directors, supervisors, and senior management hold 的任职资格。 the qualifications required by laws and regulations.
第六十四条 发行人董事、监事、高Article 64 If there is any change in the directors,
级管理人员在近两年内曾发生变动的，应supervisors, or senior management of the Issuer in 披露变动情况和原因。 the preceding two years, changes have occurred, such changes shall be disclosed with reasons
thereof.
第九节 公司治理
第六十五条 发行人应披露股东大
会、董事会、监事会、独立董事、董事会
秘书制度的建立健全及运行情况，说明上
述机构和人员履行职责的情况。
发行人应披露审计委员会的人员构
成、议事规则及运行情况。
Section 9 Company Governance Article 65 The Issuer shall disclose the incorporation, maintenance and operation of the general meeting of shareholders, the board of directors, the board of supervisors, the independent director, the board secretary system, and explain the performance of the above-mentioned organs and personnel.
The Issuer shall disclose the structure, rules and
operation of the audit board.
Article 66 The Issuer shall disclose whether there it
has any violations of laws or regulations in the
preceding three years, if yes, it shall disclose the
same and punishment thereon, and explain the
impact on itself; if no, it shall be stated to that
effect.
Article 67 The Issuer shall disclose whether any
funds are occupied by the controlling shareholder or
the actual controller or other enterprises controlled
by the actual controller in the preceding three years,
and whether the actual controller grants any
guarantee to other enterprises controlled by the
actual controller in the preceding three years, if no,
it shall be stated to that effect.
Article 68 The Issuer shall disclose the
management's comments on the self-assessment
over the integrity, rationality and effectiveness of
the company's internal control as well as the
certified public accountants' opinions on the
company's internal control. If the certified public
accountants point out any weaknesses in the
company's internal control, such weaknesses shall
be disclosed and with improvements thereof.
Article 69 The Issuer shall disclose its policies and
institutional arrangements regarding external
investment and guaranty, explain the power and
procedures of decision-making, and describe the 第六十六条 发行人应披露最近三年内是否存在违法违规行为，若存在违法违规行为，应披露违法违规事实和受到处罚的情况，并说明对发行人的影响；若不存在违法违规行为，应声明。 第六十七条 发行人应披露最近三年内是否存在资金被控股股东、实际控制人及其控制的其他企业占用的情况，或者为控股股东、实际控制人及其控制的其他企业担保的情况；不存在资金占用和对外担保的，应声明。 第六十八条 发行人应披露公司管理层对内部控制完整性、合理性及有效性的自我评估意见以及注册会计师对公司内部控制的鉴证意见。注册会计师指出公司内部控制存在缺陷的，应予披露并说明改进措施。 第六十九条 发行人应披露对外投资、担保事项的政策及制度安排，说明决策权限及程序等规定，并说明最近三年的执行情况。
implementation of the same in the preceding three
years.
Article 70 The Issuer shall disclose the protection of
the rights and interests of its investors, and indicate
the measures adopted by it to secure the investors'
access to the company's information and the
investors' right to enjoy the capital gains, to
participate in major decision-making, to choose the
management, etc. 第七十条 发行人应披露投资者权益保护的情况，说明在保障投资者依法享有获取公司信息、享有资产收益、参与重大决策和选择管理者等权利方面采取的措施。
第十节 财务会计信息与管理层分Section 10 Financial and Accounting Information
and Managerial Analysis 析
第七十一条 发行人应披露最近三
年及一期的资产负债表、利润表和现金流
量表。发行人编制合并财务报表的，应同
时披露合并财务报表和母公司财务报表。
发行人应披露财务报表的编制基础、
合并财务报表范围及变化情况。
Article 71 The Issuer shall disclose the balance sheet, the income statement and the cash flow statement of the preceding three years and the most immediate previous period. If the Issuer prepares any consolidated financial statements, it shall also disclose such consolidated financial statements and the financial statements of its parent company.
The Issuer shall disclose the basis of the financial
statements, the scope covered by the consolidated
financial statements, and changes of such basis and
scope.
Article 72 The Issuer shall disclose the audit
opinion issued by the accounting firm. If the
accounting firm issues a clean opinion on the
financial statements, the Issuer shall disclose the
full text of the audit report as well as the
explanations of the board of directors, the board of
supervisors, and the registered public accountants
on the emphasized matters.
Article 73 The Issuer shall, based on the
characteristics of its businesses, make full
disclosure of the major accounting policies and
accounting estimates which may have a significant
impact on the fair reflection on the company's
financial standing and operating achievements in
the reporting period.
If there is any major difference between the Issuer's
significant accounting policies or accounting
estimates and those of the comparable listed
companies, or if such accounting policies or 第七十二条 发行人应披露会计师事务所的审计意见类型。财务报表被出具带强调事项段的无保留审计意见的，应全文披露审计报告正文以及董事会、监事会及注册会计师对强调事项的详细说明。 第七十三条 发行人应结合业务特点充分披露报告期内采用的对公允反映公司财务状况和经营成果有重大影响的主要会计政策和会计估计。 发行人的重大会计政策或会计估计与可比上市公司存在较大差异，或者按规定将要进行变更的，应分析重大会计政策或会计估计的差异或变更对公司利润产生的影响。
accounting estimates are required to be changed, the
Issuer shall analyze the impact of such difference or
changes on the company's profits.
第七十四条 发行人应披露报告期
内执行的主要税收政策、缴纳的主要税
种，并按税种分项说明执行的法定税率。
存在税负减免的，应按税种分项说明
相关法律法规或政策依据、批准机关、批
准文号、减免幅度及有效期限。
Article 74 The Issuer shall disclose the implementation of the major tax policies and the major taxes paid in the reporting period, and specify the statutory rate of various types of taxes. If there is any tax relief, the Issuer shall make an itemized statement on the laws, regulations or policies, based on which such tax relief is granted,
and indicate the approval authorities, the code of the
approval documents, the relieved proportion, and
the time limit of such relief.
Article 75 If the Issuer's financial statements contain
any segment data, such data shall be disclosed.
If consolidated financial statements are prepared,
the disclosure of the segment data shall be based on
the consolidated financial statements. The segment
data shall be consistent with the lump sum of the
consolidated financial statements or the financial
statements.
The Issuer shall take the segment data into
consideration when analyzing the corporate
financial accounting information.
Article 76 If the Issuer acquires the assets (or
equity) of any other enterprise during the preceding
year or the most immediate previous period, and
total assets acquired or the total revenue or the total
net profit of the acquired enterprise exceeds 20% of
the corresponding item of the Issuer prior to the
acquisition, the income statement of the acquired
enterprise of the year prior to the acquisition shall
be disclosed.
Article 77 The Issuer shall, based on the verified
statement of non-recurring gains and losses and the
consolidated financial statements, make disclosure
of the contents and amount of such non-recurring
gains and losses in the preceding three years and the
most immediate previous period as well as its
impact on the operating achievements of the current
period. The Issuer shall also calculate the net profit
amount after deducting such non-recurring gains 第七十五条 发行人财务报表包含了分部信息的，应披露分部信息。 编制合并财务报表的，分部信息的披露应当以合并财务报表为基础。分部信息应当与合并财务报表或发行人财务报表中的总额信息相衔接。 发行人分析公司财务会计信息时，应当利用分部信息。 第七十六条 发行人最近一年及一期内收购兼并其他企业资产（或股权），且被收购企业资产总额或营业收入或净利润超过收购前发行人相应项20%（含）的，应披露被收购企业收购前一年利润表。 第七十七条 发行人应依据经注册会计师核验的非经常性损益明细表，以合并财务报表的数据为基础，披露最近三年及一期非经常性损益的具体内容、金额及对当期经营成果的影响，并计算最近三年及一期扣除非经常性损益后的净利润金额。
and losses in the preceding three years and the most
immediate previous period.
第七十八条 发行人应列表披露最
近三年及一期的主要财务指标。主要包括
流动比率、速动比率、资产负债率（母公
司）、应收账款周转率、存货周转率、息
税折旧摊销前利润、归属于发行人股东的
净利润、归属于发行人股东扣除非经常性
损益后的净利润、利息保障倍数、每股经
营活动产生的现金流量、每股净现金流
量、基本每股收益、稀释每股收益、归属
于发行人股东的每股净资产、净资产收益
率、无形资产（扣除土地使用权、水面养
殖权和采矿权等后）占净资产的比例。除
特别指出外，上述财务指标应以合并财务
报表的数据为基础进行计算。其中，净资
产收益率和每股收益的计算应执行中国
证监会的有关规定。
Article 78 The Issuer shall prepare a table to disclose the major financial indicators in the preceding three years and the most immediate previous period, including the current ratio, the quick ratio, the asset-liability ratio (of the parent company), the accounts receivable turnover, the inventory turnover, the EBITA, the net profit attributable to shareholders of the Issuer, the net profit (after deducting non-recurring gains and losses) attributable to shareholders of the Issuer, the interest coverage ratio, the cash flow generated from operating activities per share, the net cash flow per share, the basic earnings per share, the diluted earnings per share, the net assets attributable to shareholders of the Issuer, the return on net assets, and the proportion of intangible assets (after deducting the land use rights, the water breeding
rights, the mining rights, etc.) in the total net assets.
Unless otherwise indicated, the above financial
indicators shall be calculated based on the
consolidated financial statements. The calculation of
the return on equity and the earnings per share shall
be subject to relevant rules set by CSRC.
Article 79 If the Issuer believes that earnings
forecasts would help the investors to make correct
judgment on the Issuer's standing and the
investment in the Issuer's shares, the Issuer may
disclose such earnings forecasts, provided that the
Issuer is confident to make relatively realistic
forecasts on the profitability of the following
period. If the raised funds are to be used for
purchasing major assets, the profit forecast prepared
based on the assumption that the purchase would be
completed on the base date as well as the profit
forecast prepared based on the assumption that the
purchase would be completed on January 1 of the
IPO year shall be disclosed. 第七十九条 如果发行人认为提供盈利预测报告将有助于投资者对发行人及投资于发行人的股票作出正确判断，且发行人确信能对最近的未来期间的盈利情况作出比较切合实际的预测，发行人可以披露盈利预测报告。发行人本次募集资金拟用于重大资产购买的，则应当披露发行人假设按预计购买基准日完成购买的盈利预测报告及假设发行当年1月1日完成购买的盈利预测报告。
第八十条 发行人披露盈利预测报告Article 80 In case the Issuer discloses the profit 的，应声明：“本公司盈利预测报告是管forecast, it shall make a statement as follows: "The 理层在最佳估计假设的基础上编制的，但profit forecast is prepared based on the optimized
所依据的各种假设具有不确定性，投资者assumptions made by the Company's management 进行投资决策时应谨慎使用。” which are subject to uncertainty, the investors, thereof, are advised to use such forecast with
caution in investment decision-making."
第八十一条 发行人披露的盈利预Article 81 The profit forecast disclosed by the Issuer 测报告应包括盈利预测表及其说明。 shall include a profit forecast table and notes 盈利预测表的格式应与利润表一致，thereto.
其中预测数应分栏列示已审实现数、未审The format of the profit forecast table shall be 实现数、预测数和合计数。需要编制合并consistent with the profit report. The forecast 财务报表的发行人，应分别编制母公司盈amount shall be exhibited in several columns, 利预测表和合并盈利预测表。 namely the realized amount, the realizable amount, 盈利预测说明应包括编制基准、所依and the total amount. Where it is necessary to 据的基本假设及其合理性、与盈利预测数prepare the consolidated financial statement, the 据相关的背景及分析资料等。盈利预测数Issuer concerned shall prepare the profit forecast 据包含了特定的财政税收优惠政策或非table and the combined profit forecast table of the
company separately. 经常性损益项目的，应特别说明。 parent
The notes to the profit forecast table shall include
the preparation benchmarks, the basic assumptions
and legitimacy thereof, the background and data
analysis regarding the profit forecast data, etc. If the
profit forecast contains any items subject to
preferential financial or tax policies or contains any
non-recurrent profit and loss items, it shall be
specified to that effect.
第八十二条 发行人在设立时以及
在报告期内进行资产评估的，应扼要披露
资产评估机构名称及主要评估方法，资产
评估前的账面值、评估值及增减情况，增
减变化幅度较大的，应说明原因。
Article 82 If the Issuer undergoes an asset assessment upon incorporation or in the reporting period, it shall make a concise disclosure of the name of the assessing institution, the assessment method, the pre-assessment book value of the assets, the assessed value, and the increase or
decrease in the assets value. In case of significant
increase or decrease, the reasons thereof shall be
explained.
Article 83 The Issuer shall make a concise
disclosure of the capital contribution made by the
promoter or the shareholders upon its incorporation,
the various capital verifications after its
incorporation, and the nature of the assets
contributed by the promoter upon its incorporation.
The Issuer shall also make a brief description of
various capital changes and the availability of the
said capital. 第八十三条 发行人应扼要披露设立时发起人或股东出资及设立后历次资本变化的验资情况以及设立时发起人投入资产的计量属性，简要说明历次资本变动与资金到位情况。
第八十四条 发行人应扼要披露会
计报表附注中的资产负债表日后事项、或
有事项及其他重要事项，并结合目前存在
重大担保、诉讼、其他或有事项和重大资
产负债表日后事项的情况，说明对发行人
财务状况、盈利能力及持续经营的影响。
Article 84 The Issuer shall make a concise disclosure of the post-balance-sheet-date items, the contingent items and other important items in the notes to the financial statements, and shall, based on the existing significant guarantees, litigations, other contingent matters, and the post-balance-sheet-date items in the substantial assets, make a statement on
the impact of such items on its financial standing,
profitability, and sustainable operation.
Article 85 The Issuer shall disclose its financial
standing, profitability, and cash flow in the
reporting period and future trends primarily on the
basis of the consolidated financial statements in the
preceding three years and the most immediate
previous period. The Issuer shall not only analyze
the financial factors, but also analyze non-financial
factors. The Issuer shall not only quote the contents
of the financial statements, but also make
year-on-year comparison, peer comparison and
other forms of analysis which are easy to
understand.
Article 86 The analysis of the Issuer's financial
standing, profitability, and cash flow shall generally
include but not be limited to the items specified in
Articles 87 to 90 herein. The Issuer may add other
items or delete the said items based on the actual
situation according to the principle of priority. 第八十五条 发行人应主要依据最近三年及一期的合并财务报表分析披露发行人财务状况、盈利能力及现金流量的报告期内情况及未来趋势。分析不应仅限于财务因素，还应包括非财务因素；不应仅以引述方式重复财务报表的内容，应选择使用逐年比较、与同行业对比分析等便于理解的形式进行分析。 第八十六条 发行人对财务状况、盈利能力及现金流量的分析一般应包括但不限于第八十七条至第九十条的内容，但发行人可视实际情况并根据重要性原则有选择地进行增减。
第八十七条 财务状况分析一般应Article 87 Financial standing analysis shall 包括下列内容： generally include the following contents:
（一）发行人应披露公司资产、负债1. The Issuer shall disclose its assets structure and 的主要构成，分析说明主要资产的减值准liability structure, and explain whether the 备提取情况是否与资产质量实际状况相impairment reserve of the major assets is in line 符；最近三年及一期资产结构、负债结构with the actual quality of its assets; the preceding 发生重大变化的，发行人还应分析说明导three years. If there is any major change in the 致变化的主要因素； assets structure or debt structure in the preceding
（二）发行人应分析披露最近三年及three years and the most immediate previous period, 一期流动比率、速动比率、资产负债率、the Issuer shall also explain the major factors that
to such changes; 息税折旧摊销前利润及利息保障倍数的lead
变动情况，并结合公司的现金流量状况、2. The Issuer shall disclose and analyze changes in 在银行的资信状况、可利用的融资渠道及the current ratio, the quick ratio, the asset-liability 授信额度、表内负债、表外融资情况及或ratio, the EBITA, and the interest coverage ratio in 有负债等情况，分析说明公司的偿债能the preceding three years and the most immediate
力； previous period, and shall indicate its solvency by
（三）发行人应披露最近三年及一期taking into account its cash flow status, bank credit 应收账款周转率、存货周转率等反映资产status, availability of financing channels, credit 周转能力的财务指标的变动情况，并结合limits, on-balance-sheet liabilities, off-balance-sheet
contingent liabilities, etc.; 市场发展、行业竞争状况、公司生产模式financing,
及物流管理、销售模式及赊销政策等情3. The Issuer shall disclose the accounts receivable 况，分析说明公司的资产周转能力； turnover, the inventory turnover ratio and other
（四）发行人最近一期末持有金额较financial indicators reflecting its assets turnover 大的交易性金融资产、可供出售的金融资capacity in the preceding three years and the most 产、借与他人款项、委托理财等财务性投immediate previous period, and shall indicate its 资的，应分析其投资目的、对发行人资金assets turnover capacity by taking into account its 安排的影响、投资期限、发行人对投资的market development, peer competition, mode of 监管方案、投资的可回收性及减值准备的production, logistics management, sales model,
policy, etc.; 计提是否充足； credit
（五）发行人应披露最近一期末存货4. If the Issuer holds any large-amount transactional 类别、账面价值、存货跌价准备，结合存financial assets or any financial assets available for 货的构成、比例等，分析说明报告期内存sale, or lends any money to others, or makes any 货的变动情况及原因； trust investments or other financial investments by
（六）发行人应披露最近一期末应收the end of the most immediate previous period, the 款项的账面原值、坏账准备、账面价值，Issuer shall analyze the objectives of such 结合应收款项的构成、比例、账龄、信用investments, their impacts on the Issuer's financial 期、主要债务人等，分析说明报告期内应arrangements, the investment terms, the Issuer's 收款项的变动情况及原因； monitoring plan for such investments, the
（七）发行人应披露最近一期末主要recyclability of such investments, and the adequacy
the impairment reserve; 固定资产类别、折旧年限、原价、净值，of
结合固定资产的取得、尚可使用年限、构5. The Issuer shall disclose the type, book value, 成、比例、成新率、使用状态等，分析说stock decline reserve of the inventories by the end 明报告期内固定资产的变动情况及原因； of the most immediate previous period, and shall
（八）发行人应披露对外投资项目及specify changes in the inventories in the reporting 各项投资的投资期限、初始投资额、期末period and reasons thereof by taking into account 投资额、股权投资占被投资方的股权比例the structure and proportion of such inventories; 及会计核算方法，编制合并财务报表时采6. The Issuer shall disclose the original value of the 用成本法核算的长期股权投资按照权益receivables, the bad debt reserve, and the original 法进行调整的方法及影响金额。结合对外value of the bad debt by the end of the most 投资项目的构成、比例、分布、收益情况immediate previous period, and shall specify 等，分析说明报告期内对外投资的变动情changes in the receivables in the reporting period 况及原因； and reasons thereof by taking into account the
（九）发行人应披露最近一期末主要structure, proportion, aging, credit period, major
etc. of the receivables; 无形资产的类别、取得方式、初始金额、debtor,
摊销年限及确定依据、摊余价值及剩余摊7. The Issuer shall disclose the type, depreciation 销年限。无形资产的原始价值是以评估值period, original cost, and net value of the fixed 作为入账依据的，还应披露资产评估机构assets by the end of the most immediate previous 名称及主要评估方法。结合无形资产的构period, and shall specify changes in the fixed assets 成、比例、先进程度等，分析说明报告期in the reporting period and reasons thereof by taking
内无形资产的变动情况及原因； into account the acquisition, remaining service life,
（十）发行人应披露最近一期末递延structure, proportion, new rate, and use of the fixed 所得税资产和递延所得税负债的金额和assets;
确认递延所得税资产的依据，分析说明报8. The Issuer shall disclose the investment period, 告期内递延所得税资产和递延所得税负the initial investment amount, the ending investment 债的变动情况及原因； amount, the proportion of the invested equity in the （十一）发行人应披露最近一期末的total equity of the invested party, the accounting 主要债项，包括主要的银行借款，对内部method of external investment projects and other 人员和关联方的负债，主要合同承诺的债investments, the method adopted to adjust the 务、或有债项的金额、期限、成本，票据long-term equity investments when preparing the 贴现、抵押及担保等形成的或有负债情consolidated financial statements according to the 况。有逾期未偿还债项的，应说明其金额、cost method, as well as the data influenced by such 利率、贷款资金用途、未按期偿还的原因、adjustment. The Issuer shall specify changes in the 预计还款期等。结合主要债项的构成、比external investments in the reporting period and 例、借款费用资本化情况、用途等，分析reasons thereof by taking into account the structure, 说明报告期内债项的变动情况及原因； proportion, distribution, proceeding, etc. of the
investments; （十二）发行人应披露所有者权益变external
动表，扼要披露报告期内各期末股东权益9. The Issuer shall disclose the type, acquisition 的情况，包括股本、资本公积、盈余公积、method, initial amount, amortization period, 未分配利润及少数股东权益的情况。 confirmation basis, amortized value, and remaining 发行人应分析说明报告期内股东权amortization period of the major intangible assets 益各项目的变动情况及原因。 by the end of the most immediate previous period. The assessed value of the intangible assets shall be
treated as the original value and be used as the
accounting basis. The Issuer shall disclose the name
of the assets assessing institution and the key
assessment method. The Issuer shall also specify the
changes in the intangible assets in the reporting
period and reasons thereof by taking into account
the structure, proportion, advanced level, etc. of the
intangible assets;
10. The Issuer shall disclose the amount of the
deferred income tax assets by the end of the most
immediate previous period, the amount of the
deferred income tax liabilities by the end of the
most immediate previous period, and the basis for
confirming the deferred income tax assets. The
Issuer shall also specify the changes in the deferred
income tax assets and the deferred income tax
liabilities in the reporting period and reasons
thereof;
11. The Issuer shall disclose the major debts by the
end of the most immediate previous period,
including the major bank loans, debts to the internal
personnel, debts to the associated parties, the amount, term, and cost of debts under major contracts and contingent debts, as well as the liabilities formed under discount on notes, mortgage or guarantee. If there is any outstanding debt, the Issuer shall indicate the amount, interest rates, loan purpose, reason of delay of repayment, estimated repayment period, etc. of such outstanding debts. The Issuer shall also specify the changes in the debts in the reporting period and reasons thereof by taking into account the structure, ratio, capitalization, usage, etc. of the major debts; and
12. The Issuer shall disclose changes in the rights and interests of the owners, and shall make concise disclosure of the rights and interests of the shareholders at the end of each accounting period in the reporting period, including the equity, the capital surplus, the earned surplus, the undistributed profit, and the rights and interests of minority shareholders.
The Issuer shall specify the changes in the various rights and interests of the shareholders in the reporting period and reasons thereof.
第八十八条 盈利能力分析一般应Article 88 Profitability analysis shall generally
the following contents: 包括下列内容： include
（一）发行人应列表披露最近三年及1. The Issuer shall disclose the structure and ratio of 一期营业收入的构成及比例，并分别按产the operating income in the preceding three years 品或服务类别及业务、地区分部列示，分and the most immediate previous period, and shall 析营业收入增减变化的情况及原因；营业specify the changes in the revenue and reasons 收入存在季节性波动的，应分析季节性因thereof by taking into account the type and regional 素对各季度经营成果的影响； distribution of its products or services. If there is
（二）发行人应依据所从事的主营业seasonal fluctuation in the operating income, the 务、采用的经营模式及行业竞争情况，分Issuer shall analyze the impact of the seasonal 析公司最近三年及一期利润的主要来源、factors on the operating achievements of each 可能影响发行人盈利能力连续性和稳定quarter; 性的主要因素； 2. The Issuer shall, based on its primary businesses,
（三）发行人应按照利润表项目逐项business models, and peer competition, analyze the 分析最近三年及一期经营成果变化的原major source of profit in the preceding three years 因，对于变动幅度较大的项目应重点说and the most immediate previous period and the 明； major factors which may affect the continuity and
of its profitability; （四）发行人主要产品的销售价格或stability
主要原材料、能源价格频繁变动且影响较3. The Issuer shall, based on the income statement, 大的，应针对价格变动对公司利润的影响make an item-by-item analysis of the reasons of the
作敏感性分析； changes in the operating achievements in the
（五）发行人应列表披露最近三年及preceding three years and the most immediate 一期公司综合毛利率、分行业毛利率的数previous period, and explain on the items which
undergone significant changes; 据及变动情况；报告期内发生重大变化have
的，还应用数据说明相关因素对毛利率变4. If there are frequent changes in the sale price of 动的影响程度； the Issuer's major products, or the price of the major
（六）发行人最近三年及一期非经常raw materials or energy which may have great 性损益、合并财务报表范围以外的投资收impact, the Issuer shall make sensitivity analysis of 益对公司经营成果有重大影响的，应当分the impact of such price changes on the company's 析原因及对公司盈利能力稳定性的影响； profits;
（七）发行人应按税种分项披露最近5. The Issuer shall prepare a table to disclose the 三年及一期公司缴纳的税额，说明所得税company's consolidated gross profit margin in the 费用（收益）与会计利润的关系。 preceding three years and the most immediate previous period, the gross profit margins by
industry, and changes thereof. If there are major
changes during the reporting period, the Issuer shall
also make a quantitative description of the impact of
relevant factors on the gross margin;
6. If the non-recurring gains and losses or the
investment incomes off the consolidated financial
statements in the preceding three years and the most
immediate previous period have a significant impact
on the Issuer's operating achievements, the Issuer
shall analyze the reasons thereof and the impact on
the stability of its profitability; and
7. The Issuer shall disclose the amount of various
types of taxes paid by it in the preceding three years
and the most immediate previous period, and
specify the relationship between the income tax cost
(income) and the accounting profit.
第八十九条 现金流量的分析一般Article 89 Cash flow analysis shall generally
the following contents: 应包括下列内容： include
（一）发行人应扼要披露最近三年及1. The Issuer shall make concise disclosure of the 一期经营活动产生的现金流量、投资活动cash flow generated from operating activities, the 产生的现金流量、筹资活动产生的现金流cash flows generated from investment activities, and 量的基本情况及不涉及现金收支的重大the cash flows generated from financing activities in 投资和筹资活动及其影响。结合公司的资the preceding three years and the most immediate 金需求情况，分析经营活动、投资活动和previous period, as well as major investment 筹资活动所产生现金流量的变动情况及activities and financing activities not involving case 原因； payment. The Issuer shall, based on its need for
（二）发行人最近三年及一期经营活capital, specify changes in the cash flow generated 动产生的现金流量净额为负数或者远低from operating activities, investment activities, and 于当期净利润的，应分析披露原因； financing activities and reasons of such changes;
（三）发行人应披露最近三年及一期2. If the net value of the cash flow generated from 重大的资本性支出情况；如果资本性支出operating activities in the preceding three years and 导致公司固定资产大规模增加或进行跨the most immediate previous period is negative or 行业投资的，应当分析资本性支出对公司much lower than the net profit in the current period, 主营业务、经营成果和现金流量的影响； the Issuer shall analyze and disclose the reasons
（四）发行人应披露未来可预见的重thereof;
大资本性支出计划及资金需求量；未来资3. The Issuer shall disclose major capital 本性支出计划跨行业投资的，应说明其与expenditure in the preceding three years and the 公司未来发展战略的关系。 most immediate previous period. If the capital expenditure leads to a massive increase in the
company's fixed assets or if the capital expenditure
is incurred for any cross-industry investment, the
Issuer shall analyze the impact of such capital
expenditure on the company's primary business,
operating achievements, and cash flow; and
4. The Issuer shall disclose the plans for and capital
requirements of foreseeable future major capital
expenditures. In case of cross-industry investment,
the Issuer shall indicate the relationship between
such investment and the company's future
development strategy.
第九十条 发行人应结合在行业竞
争和业务经营方面存在的主要优势及困
难，谨慎、客观分析公司财务状况和盈利
能力的未来趋势。对报告期内已对公司财
务状况和盈利能力有重大影响的因素，应
分析其对公司未来财务状况和盈利能力
可能产生的影响；目前已经存在新的趋势
或变化，可能对公司未来财务状况和盈利
能力产生重大影响的，应分析具体的影
响。
Article 90 The Issuer shall, based on its advantages and weaknesses in respect of peer competition and business operation, make prudent and objective analysis of the future trends of company's financial standing and profitability. For factors which have already had significant impact on the company's financial standing and profitability the reporting period, the Issuer shall analyze the potential impact of such factors on the company's future financial standing and profitability. If there are any existing trends or changes which may have a significant
impact on the company's future financial standing
and profitability, the Issuer shall analyze such
impact in detail.
Article 91 The Issuer shall disclose the dividend
distribution policies and the actual dividend
distributions the preceding three years, as well as
the dividend distribution policies after the issue. 第九十一条 发行人应披露最近三年股利分配政策、实际股利分配情况以及发行后的股利分配政策。
第九十二条 发行人应披露本次发Article 92 The Issuer shall disclose the distribution 行完成前滚存利润的分配安排和已履行arrangements of the profit accumulated until 的决策程序。若发行前的滚存利润归发行completion of the IPO as well as the
前的股东享有，应披露滚存利润的审计和
实际派发情况，同时在招股说明书首页对
滚存利润中由发行前股东单独享有的金
额以及是否派发完毕作“重大事项提示”。
decision-making procedures adopted. If the pre-issue accumulated profits will be distributed to the pre-issue shareholders, the Issuer shall disclose the audit and actual distribution of such accumulated profits, and shall make a "Disclosure
of Important Matters" on the first page of the
prospectus to specify the amount and distribution
process of the accumulated profits.
Section 11 Use of Raised Funds
Article 93 The Issuer shall make investment with
the raised funds by centering on its primary
business, and shall disclose the estimated amount of
the raised funds, the special account deposit
arrangement, the usage of the raised funds, and the
estimated investment schedule.
If there is any difference between the amount
actually raised and the estimated amount, the Issuer
shall indicate the arrangements for using and
managing the funds.
If the raised funds involve any examination,
approval, verification or filing, the Issuer shall
disclose relevant information.
Article 94 If the raised funds are to be used to
enhance the company's service capacity, to expand
market share, to improve its technology or
management, or to transform its production or
service flow or facilities, or to expands its human
resources, or to enhance its core competitiveness
centered on its main businesses, the Issuer shall
disclose the investment arrangements for the raised
funds, and specify the impact of such arrangements
on its future operating achievements.
If the pooling of the raised funds leads to change in
the Issuer's business model, the Issuer shall
illustrate the impact of such change on its primary
business, and shall make feasibility, with its
management capacity, technical preparation, and
market exploration to be taken into consideration.
Article 95 If the raised funds are to be used to
expand the production capacity of the existing
products, the Issuer shall make a market prospect
analysis based on the production capacity, turnover, 第十一节 募集资金运用 第九十三条 发行人募集资金应当围绕主营业务进行投资安排，应披露预计募集资金数额、专户存储安排、募集资金具体用途、预计投入的时间进度情况。 实际募集资金数额与预计募集资金存在差异的，发行人应说明资金运用和资金管理的安排。 募集资金项目涉及履行审批、核准或备案程序的，应披露相关的履行情况。 第九十四条 募集资金用于提升服务能力、拓展市场营销、改进技术或管理、改造生产或服务流程或设施、扩充人力资源以及其他围绕主营业务而提升核心竞争力的，发行人应披露募集资金的具体投资安排，说明对发行人未来经营成果的影响。 募集资金投入导致发行人业务模式发生改变的，发行人应说明这种变化对主营业务的影响，并结合经营管理能力、技术准备、产品市场开拓的情况进行可行性分析。 第九十五条 募集资金用于扩大现有产品产能的，发行人应结合现有产品报告期内的产能、产量、销量、产销率、销售区域，项目达产后产品新增的产能、产量
以及本行业的发展趋势、相关产品的市场
容量、主要竞争对手等情况，对项目的市
场前景进行分析。
募集资金用于新产品开发生产的，发
行人应结合新产品的市场容量、主要竞争
对手、行业发展趋势、技术保障、项目投
产后新增产能情况，对项目的市场前景进
行分析。
sales volume, sales-output ratio, and the sales region of the existing products in the reporting period, the product capacity and the turnover to be increased upon the project reaches full capacity, as well as the development trend of the industry, the market capacity of relevant products, the condition of major competitors, etc. If the raised funds are to be used for developing new products, the Issuer shall make a market
prospect analysis based on the market capacity of
such new products, major competitors, industry
development trends, technical support, and the
turnover to be increased upon the project reaches
full capacity.
Article 96 If the Issuer's investment in fixed assets
or R&D expenditure in the reporting period is rather
limited and the funds raised under the IPO will
bring a massive increase to the fixed assets
investment or R&D expenditure, the Issuer shall
fully explain the relationship between changes in
fixed assets and productivity, and make sufficient
disclosure of the impact of the depreciation of the
newly added fixed assets and R&D expenditure on
the future operating achievements of the Issuer. 第九十六条 发行人报告期内固定资产投资和研发支出很少、本次募集资金将大规模增加固定资产投资或研发支出的，应充分说明固定资产变化与产能变动的匹配关系，并充分披露新增固定资产折旧、研发支出对发行人未来经营成果的影响。
第九十七条 募集资金直接用于固定Article 97 If the raised funds are to be directly used 资产投资项目的，发行人可视实际情况并in fixed asset investment projects, the Issuer may 根据重要性原则披露下列内容： make disclosure of the following contents based on
（一）投资概算情况，预计项目投资the actual situation and according to the principle of 规模及募集资金具体用途，如购置设备、priority:
土地、技术以及补充流动资金等； 1. The investment budget, the estimated scale of the
（二）产品的质量标准和技术水平，investment project, and the usage of the raised 生产方法、工艺流程和生产技术选择，主funds, such as purchasing equipment, land or 要设备选择，核心技术及其取得方式； technology, making up working capital, etc.;
（三）主要原材料、辅助材料及能源2. The product quality standards and technical level, 的供应情况； the production methods, the process, the production
（四）投资项目的竣工时间、产量、technology, the major equipment, the core 产品销售方式及营销措施； technology, and the acquisition method thereof;
（五）投资项目可能存在的环保问题、3. The supply of major raw materials, auxiliary
and energy; 采取的措施及资金投入情况； materials
（六）投资项目的选址，拟占用土地4. The completion date, turnover, sales method, and 的面积、取得方式及土地用途； marketing measures of investment project;
（七）项目的组织方式、项目的实施5. The potential environmental problems existing in 进展情况。 the investment project, the measures adopted to
tackle such problems, and the capital pooling
thereof;
6. The site selection for the investment project, the
estimated area to be occupied by the investment
project, the acquisition method of the land, and use
of the land; and
7. The organizational method and progress of the
project.
第九十八条 募集资金拟用于合资经Article 98 If the raised funds are to be used in joint 营或合作经营的，在披露第九十七条内容ventures or cooperative ventures, the Issuer shall 的同时，还应披露： disclose the following information besides the
specified in Article 97: （一）合资或合作方的基本情况，主contents
要包括名称、法定代表人、住所、注册资1. The basic information on the partner to the joint 本、实收资本、主要股东、主营业务，与venture or the cooperative venture, including the 发行人是否存在关联关系；投资规模及各partner's name, legal representative, domicile, 方投资比例；合资或合作方的出资方式；registered capital, paid-up capital, major 合资或合作协议的主要条款以及可能对shareholders, primary business, and whether there is 发行人不利的条款； any association between the Issuer and such partner;
（二）拟组建的企业法人的基本情况，the investment scale and the parties' respective 主要包括设立、注册资本、主营业务、组investment ratio; the contribution method adopted 织管理和控制情况。不组建企业法人的，by the partner; the main clauses of the joint venture 应详细披露合作模式。 agreement or cooperation agreement, and the clauses which may be adverse to the Issuer; and
2. The basic information on the proposed enterprise
legal person, including its incorporation, registered
capital, primary business, organizational
management, and control structure. If no enterprise
legal person is to be established, the Issuer shall
make detailed disclosure of the cooperation model.
第九十九条 募集资金拟用于向其他
企业增资或收购其他企业股份，且已确定
的，应披露下列内容：
（一）拟增资或收购的企业的基本情
况及最近一年及一期经具有证券期货相
关业务资格的会计师事务所审计的资产
负债表和利润表；
（二）增资资金折合股份或收购股份
的评估、定价情况；
（三）增资或收购前后持股比例及控
制情况；
（四）增资或收购行为与发行人业务
发展规划的关系。
Article 99 If the raised funds are to be used to increase investment in other enterprises or to acquire shares of other enterprises, the Issuer shall disclose the following contents, provided that such investment or acquisition has been confirmed: 1. The basic information on the enterprise to be invested or acquired, as well as the balance sheet and income statement of the last year and the most immediate previous period which have been audited or reviewed by an accounting firm qualified for securities and futures businesses; 2. The assessment and pricing of the share equivalent of the increased investment or the shares to be acquired;
3. The shareholding structure and control of the
enterprise before and after the investment or
acquisition; and
4. The relationship between the investment or
acquisition and the Issuer's business development
planning.
第一百条 募集资金拟用于收购资Article 100 If the raised funds are to be used to 产，且已确定的，应披露下列内容： acquire assets, the Issuer shall disclose the
（一）拟收购资产的内容； following contents, provided that such acquisition
been confirmed: （二）拟收购资产的评估、定价情况； has
（三）拟收购资产与发行人主营业务1. The contents of the assets to be acquired; 的关系。 2. The assessment and pricing of the assets to be
and 若收购的资产为在建工程的，还应披acquired;
露在建工程的已投资情况、尚需投资的金3. The relationship between the assets to be 额、负债情况、建设进度、计划完成时间acquired and the Issuer's primary business. 等。 If the assets to be acquired are a project under construction, the Issuer shall also disclose the
paid-in investment in the project, the amount to be
paid in, the liability structure, the construction
progress, the estimated completion date, etc.
第一百零一条 募集资金用于偿还债
务的，应披露偿债的总体安排及对发行人
财务状况、偿债能力和财务费用的具体影
响。
第一百零二条 募集资金用于补充
营运资金的，发行人应披露补充营运资金
的必要性和管理运营安排，说明对公司财
务状况及经营成果的影响和对提升公司
核心竞争力的作用。
Article 101 If the raised funds are to be used to repay debts, the Issuer shall disclose the general repayment arrangements as well as the impact of such arrangements on the Issuer's financial standing, solvency, and financial cost. Article 102 If the raised funds are to be used to supplement working capital, the Issuer shall disclose the necessity of the supplementation and the arrangements for managing and operating such working capital. The Issuer shall also indicate the impact of such arrangements on the company's
financial standing and operating achievements as
well as how the company's core competitiveness
will be raised by implementing such arrangements.
第一百零三条 发行人募集资金拟作Article 103 If the raised funds are to be used for 其他用途的，应披露具体的安排及影响。 other purposes, the Issuer shall disclose the specific arrangement and impact thereof.
第一百零四条 发行人应披露募集资
金运用对财务状况及经营成果的影响。发
行人应审慎预测具体投资的效益，分别说
明募集资金运用前后的效益情况，以及预Article 104 The Issuer shall disclose the impact of the use of the raised funds on its financial standing and operating achievements. The Issuer shall make prudent prediction of the benefits to be brought by
计产生效益的时间，并充分说明预测基the investments, and shall specify the benefits 础、依据。 before and after the use of the raised funds as well as the estimated time needed to generate such
benefits. The Issuer shall also give full explanation
on the basis of such prediction.
第十二节 未来发展与规划
第一百零五条 发行人应披露发行
当年和未来三年的发展规划及发展目标，
说明发行人在增强成长性、增进自主创新
能力、提升核心竞争优势等方面拟采取的
措施。
第一百零六条 发行人应当结合募集
资金运用，审慎分析说明发行人的未来发
展及在增强成长性和自主创新方面的情
况，具体分析说明可能涉及扩大市场规
模、提高市场占有率、实现现有产品或服
务升级、进行技术开发和持续创新、加强
管理和技术团队建设、改善公司财务结构
等情况。
Section 12 Future Development and Planning Article 105 The Issuer shall disclose the plans and objectives of development in the IPO year and three years after the issue, and shall specify the measures to be taken to enhance its growth ability, independent innovation ability, core competitive advantage, etc. Article 106 The Issuer shall, based on the use of the raised funds, make a prudent analysis of its development, growth, and innovation in the future, and shall specify the possible expansion of market, the increase of market share, the upgrading of existing products or services, the development of technology, the continuous innovation, the enhancement of management and technical team building, the improvement of financial structure,
and so on.
Article 107 The plans and objectives of
development disclosed by the Issuer shall be
specific. The Issuer shall make a reasonable
description of the assumptions based on which such
plans and objectives are made, the major difficulties
to be encountered during implementation thereof,
the methods or means to be taken to realize such
plans and objectives. The Issuer shall make a
statement that it will make regular report on the
implementation of such plans and achievement of
such objectives after the listing.
Article 108 The Issuer shall disclose the relationship
between the above-mentioned business
development plans/objectives and the existing
businesses. If the Issuer is to cooperate with others
to implement such plans and realize such objective,
it shall specify the partners and the terms and
conditions of the cooperation. 第一百零七条 发行人披露的发展规划和目标应当具体明确，合理说明规划和目标所依据的假设条件，实施过程中可能面临的主要困难，确保实现规划和目标采用的方法或途径。发行人应声明在上市后通过定期报告持续公告规划实施和目标实现的情况。 第一百零八条 发行人应披露上述业务发展规划和目标与现有业务的关系。若实现上述规划和目标涉及与他人合作的，应对合作方及合作条件予以说明。
第一百零九条 发行人披露的规划、Article 109 The plans, objectives, measures and the
目标、措施以及相应的分析，应与招股说corresponding analysis disclosed by the Issuer shall 明书其他相关内容相衔接。 be consistent with other contents of the prospectus.
第十三节 其他重要事项
第一百一十条 发行人应披露对其
生产经营活动、未来发展或财务状况具有
重要影响的合同内容及其履行情况。合同
内容应主要包括：
（一）当事人的名称和住所；
（二）标的；
（三）数量；
（四）质量；
（五）价款或者报酬；
（六）履行期限；
（七）地点和方式；
（八）违约责任；
（九）解决争议的方法；
（十）对发行人经营有重大影响的附
带条款和限制条件。
Section 13 Other Important Matters Article 110 The Issuer shall disclose the content and performance of contracts which may have a significant impact on its production and operation activities, future development, or financial standing. Contracts of such contracts shall include: 1. The name and domicile of the contractual parties; 2. The subject matter; 3. The quantity; 4. The quality; 5. The price or remuneration; 6. The performance term; 7. The place and manner of performance 8. The liability for breach of contract; 9. Dispute resolution; and 10. The auxiliary terms and restrictions which may have a significant impact on the Issuer. 第一百一十一条 发行人应披露对Article 111 The Issuer shall disclose any and all 外担保的情况，主要包括： external guaranty offered by it, including:
（一）被担保人的名称、注册资本、1. The guaranteed party's name, registered capital, 实收资本、住所、生产经营情况、与发行paid-up capital, domicile, production and operation, 人有无关联关系、以及最近一年及一期末the association between the guaranteed party and 的总资产、净资产和最近一年及一期的净the Issuer, the guaranteed party's total assets, net 利润； assets, and net profit by the end of the last year and
most immediate previous period; （二）主债务的种类、金额和履行债the
务的期限； 2. The type, amount, and performance term of the
debt; （三）担保方式：采用保证方式还是main
抵押、质押方式；采用抵押、质押方式的，3. The guaranty method: credit, mortgage, or 应披露担保物的种类、数量、价值等相关pledge. In case of mortgage or pledge, the Issuer 情况； shall disclose the type, quantity, value and other
（四）担保范围； relevant information about the collateral;
Scope of the guaranty; （五）担保期间； 4.
The guaranty period; （六）解决争议的方法； 5.
Dispute resolution; （七）其他对担保人有重大影响的条6.
款； 7. Other clauses that may have a significant impact
the guarantor; and （八）担保履行情况。 on
发行人不存在对外担保的，应予说8. Performance of the significant impact. 明。 If the Issuer has never offered any external guarantee, it shall make a statement to that effect.
第一百一十二条 发行人应披露对
财务状况、经营成果、声誉、业务活动、
未来前景等可能产生较大影响的诉讼或
仲裁事项，主要包括：
（一）案件受理情况和基本案情；
（二）诉讼或仲裁请求；
（三）判决、裁决结果及执行情况；
（四）诉讼、仲裁案件对发行人的影
响。
Article 112 The Issuer shall disclose litigation or arbitration cases which may have a significant impact on its financial standing, operating achievements, reputation, business activities, prospects, etc., including: 1. The acceptance and a summary of the case; 2. The litigation or arbitration claims; 3. The judgment or award and implementation thereof; and 4. The impact of the litigation or arbitration cases on
the Issuer.
Article 113 The Issuer shall disclose litigation or
arbitration cases to which its controlling
shareholder, actual controller, controlled subsidiary,
director, supervisor, senior management, or other
core personnel is a party.
The Issuer shall disclose whether there are any
significant violations by its controlling shareholder
and actual controller in the preceding three years. If
no, it shall make a statement to that effect. 第一百一十三条 发行人应披露控股股东或实际控制人、控股子公司，发行人董事、监事、高级管理人员和其他核心人员作为一方当事人的重大诉讼或仲裁事项。 发行人应披露控股股东、实际控制人最近三年内是否存在重大违法行为，如不存在，应作声明。
第一百一十四条 发行人应披露董Article 114 The Issuer shall disclose any criminal 事、监事、高级管理人员和其他核心人员case involving its director, supervisor, senior 涉及刑事诉讼的情况。 management, or other core personnel.
第十四节 有关声明
第一百一十五条 发行人全体董事、
监事、高级管理人员应在招股说明书正文
的尾页声明：
“本公司全体董事、监事、高级管理
人员承诺本招股说明书不存在虚假记载、
误导性陈述或重大遗漏，并对其真实性、
准确性、完整性承担个别和连带的法律责
任。”
声明应由全体董事、监事、高级管理
人员签名，并由发行人加盖公章。
Section 14 Relevant Statements Article 115 All directors, supervisors and senior management of the Issuer shall make a statement as follows on the last page of the main body of the prospectus: "The directors, supervisors and senior management of the Company undertake that there is no false record, misleading statement or major omission in the prospectus, and that they will be jointly and severally liable for the authenticity, accuracy and integrity of the prospectus." The statement shall be signed by all the Issuer's
directors, supervisors and senior management, and
be affixed with the Issuer's official seal.
第一百一十六条 保荐人（主承销Article 116 The sponsor (the lead underwriter) shall 商）应对招股说明书的真实性、准确性、verify the authenticity, accuracy, and integrity of the 完整性进行核查，并在招股说明书正文后prospectus, make a statement as follows following
main text of the prospectus: 声明： the
“本公司已对招股说明书进行了核"The Company has conducted verification over the 查，确认不存在虚假记载、误导性陈述或prospectus and has confirmed that there is no false 重大遗漏，并对其真实性、准确性和完整record, misleading statement or major omission in 性承担相应的法律责任。” the prospectus, and that it will bear the 声明应由法定代表人、保荐代表人、corresponding legal liability for the authenticity, 项目协办人签名，并由保荐人（主承销商）accuracy and integrity of the prospectus." 加盖公章。 The statement shall be signed by the Issuer's legal representative, sponsor's representative, and the
project assistant, and be affixed with the official seal
of the sponsor (the lead underwriter).
第一百一十七条 发行人律师应在
招股说明书正文后声明：
“本所及经办律师已阅读招股说明
书，确认招股说明书与本所出具的法律意
见书和律师工作报告无矛盾之处。本所及
经办律师对发行人在招股说明书中引用
的法律意见书和律师工作报告的内容无
异议，确认招股说明书不致因上述内容而
出现虚假记载、误导性陈述或重大遗漏，
并对其真实性、准确性和完整性承担相应
的法律责任。”
声明应由经办律师及所在律师事务
所负责人签名，并由律师事务所加盖公
章。
Article 117 The Issuer's lawyer shall make a statement as follows after the main text of the prospectus: "This firm and the underwriting lawyers have read the prospectus and confirmed that there is no discrepancy between the prospectus and the legal opinions/attorney's report issued by this firm. This firm and the underwriting lawyers have no objection to the contents of the legal opinions/attorney's work report cited in the prospectus, and confirm that such citation would not lead to any false record, misleading statement or major omission in the prospectus. This firm and the underwriting lawyers will bear the corresponding legal liability for the authenticity, accuracy and integrity of the
prospectus."
The statement shall be signed by the lawyers
handling the IPO and the director of the law firm
concerned, and be affixed with the official seal of
the law firm.
第一百一十八条 承担审计业务的Article 118 The accounting firm engaged to audit 会计师事务所应在招股说明书正文后声the prospectus shall make a statement as follows 明： following the main text of the prospectus: “本所及签字注册会计师已阅读招股"This firm and the underwriting public certified 说明书，确认招股说明书与本所出具的审accountants have read the prospectus and confirmed 计报告、盈利预测审核报告（如有）、内that there is no discrepancy between the prospectus 部控制鉴证报告及经本所核验的非经常and the audit report, audit report on profit forecast 性损益明细表无矛盾之处。本所及签字注(if any), internal control attestation report, and the 册会计师对发行人在招股说明书中引用statement of non-recurring gains and losses audited 的审计报告、盈利预测审核报告（如有）、by this firm. This firm and the underwriting public 内部控制鉴证报告及经本所核验的非经certified accountants have no objection to the 常性损益明细表的内容无异议，确认招股contents of the audit report, audit report on profit
说明书不致因上述内容而出现虚假记载、
误导性陈述或重大遗漏，并对其真实性、
准确性和完整性承担相应的法律责任。”
声明应由签字注册会计师及所在会
计师事务所负责人签名，并由会计师事务
所加盖公章。
forecast (if any), internal control attestation report, and the statement of non-recurring gains and losses audited by this firm cited in the prospectus, and confirm that such citation would not lead to any false record, misleading statement or major omission in the prospectus. This firm and the underwriting lawyers will bear the corresponding
legal liability for the authenticity, accuracy and
integrity of the prospectus."
The statement shall be signed by the underwriting
public certified accountants and the director of the
accounting firm concerned, and be affixed with the
official seal of the accounting firm.
第一百一十九条 承担评估业务的Article 119 The assessing institution shall make a 资产评估机构应在招股说明书正文后声statement as follows following the main text of the 明： prospectus:
“本机构及签字注册资产评估师已阅"This institution and the underwriting assessors 读招股说明书，确认招股说明书与本机构have read the prospectus and confirmed that there is 出具的资产评估报告无矛盾之处。本机构no discrepancy between the prospectus and the 及签字注册资产评估师对发行人在招股assets assessment report issued by this institution. 说明书中引用的资产评估报告的内容无This institution and the underwriting registered 异议，确认招股说明书不致因上述内容而assets assessors have no objection to the contents of 出现虚假记载、误导性陈述或重大遗漏，the assets assessment report cited in the prospectus, 并对其真实性、准确性和完整性承担相应and confirm that such citation would not lead to any 的法律责任。” false record, misleading statement or major 声明应由签字注册资产评估师及所omission in the prospectus. This institution and the 在资产评估机构负责人签名，并由资产评underwriting registered assets assessors will bear 估机构加盖公章。 the corresponding legal liability for the authenticity, accuracy and integrity of the prospectus."
The statement shall be signed by the underwriting
registered assets assessors and the director of the
assessment institution concerned, and be affixed
with the official seal of the institution.
第一百二十条 承担验资业务的机Article 120 The institution undertaking the capital 构应在招股说明书正文后声明： verification shall make a statement as follows after
main text of the prospectus: “本机构及签字注册会计师已阅读招the
股说明书，确认招股说明书与本机构出具"This institution and the underwriting public 的验资报告无矛盾之处。本机构及签字注certified accountants have read the prospectus and 册会计师对发行人在招股说明书中引用confirmed that there is no discrepancy between the 的验资报告的内容无异议，确认招股说明prospectus and the capital verification report issued 书不致因上述内容而出现虚假记载、误导by this institution. This institution and the 性陈述或重大遗漏，并对其真实性、准确underwriting public certified accountants have no 性和完整性承担相应的法律责任。” objection to the contents of the capital verification
声明应由签字注册会计师及所在验
资机构负责人签名，并由验资机构加盖公
章。
report cited in the prospectus, and confirm that such citation would not lead to any false record, misleading statement or major omission in the prospectus. This institution and the underwriting
registered assets assessors will bear the
corresponding legal liability for the authenticity,
accuracy and integrity of the prospectus."
The statement shall be signed by the underwriting
and public certified accountants the director of the
capital verification institution concerned, and be
affixed with the official seal of the institution.
第一百二十一条 本准则所要求的Article 121 The name of the person required to sign 有关人员的签名下方应以印刷体形式注on relevant statement under these Rules shall be 明其姓名。 printed under his/her signature.
第十五节 附 件 Section 15 Annexes
第一百二十二条 招股说明书结尾Article 122 Annexes shall be set out at the end of 应列明附件，并在中国证监会指定网站披the prospectus and be disclosed on the website 露。附件应包括下列文件： designated by CSRC. Annexes shall include the
documents: （一）发行保荐书（附：发行人成长following
性专项意见）及发行保荐工作报告； 1. The letter of recommendation (attached with the
（二）发行人关于公司设立以来股本Issuer Growth Opinions) and the Sponsor Work 演变情况的说明及其董事、监事、高级管Report;
理人员的确认意见； 2. The explanations on changes in the equity of the
（三）发行人控股股东、实际控制人Issuer after its incorporation, and the confirmation 对招股说明书的确认意见； thereto issued by the Issuer's directors, supervisors
senior management; （四）财务报表及审计报告； and
（五）盈利预测报告及审核报告（如3. The confirmation to the prospectus issued by the 有）； Issuer's controlling shareholder and actual
（六）内部控制鉴证报告； controller;
（七）经注册会计师核验的非经常性4. The financial statements and audit reports; 损益明细表； 5. The profit forecast report and the audit report (if
（八）法律意见书及律师工作报告； any);
（九）公司章程（草案）； 6. The internal control attestation report;
（十）中国证监会核准本次发行的文7. The statement of non-recurring profit and loss 件； verified by certified public accountants; （十一）其他与本次发行有关的重要8. The legal opinions and attorney's work report; 文件。 9. The Articles of Association (draft);
10. The CSRC approval document; and
11. Other important documents relating to the IPO.
第三章 附 则 Chapter III Supplementary Provisions
第一百二十三条 本准则自公布之日Article 123 These Rules shall come into effect as of 起施行。 the date of promulgation.