Shanghai exchange to accommodate epidemic prevention period

The Shanghai Stock Exchange announced business arrangements on Sunday to support epidemic prevention and control work for the novel coronavirus and prepare for the first trading day after the extended Spring Festival holiday, which falls on Feb 3.

The newly released announcement mainly covers six areas of business arrangement, including review of companies' listing application for the STAR Market, stocks issuance, underwriting and listing services, public companies' information disclosure, securities services, optimizing onsite businesses and management of services for market entities.

The listing review for initial public offering at the STAR Market, the review for major asset restructuring of listed companies as well as the update of issuers' financial results usually have a strict time limit on companies' response. But such time limits will be removed starting Feb 3.

No onsite communication at the Shanghai trading house will be available during the project revision process. Underwriters can reach the bourse via the online revision system or phone calls. No listing ceremonies will be held during the epidemic prevention and control period.

In line with the announcement of the China Securities Regulatory Commission, the Shanghai bourse also pointed out public companies based in Hubei province will be exempted from annual listing fees for 2020. For companies registered in Hubei which are newly listed at the Shanghai bourse, they will be exempted from initial costs and annual fees for 2020.

For companies which cannot disclose their 2019 annual financial reports due to the epidemic, they can extend to disclose their annual reports through Apr 30, according to the Shanghai Stock Exchange.