On Dec. 25, CHI NEEQ issued notice on 2024 annual report disclosure.
CHI NEEQ issued notice on disclosure of 2024 annual reports of listed companies to all listed companies, nominated brokers, accounting firms, for appropriate disclosure.
Follows CHI NEEQ Dec. 2022 issued notice on 2022 annual report disclosure, #157847.
Requirements
Financial statements must be audited by qualified accounting firms, with any changes to auditors requiring board and shareholder approval before report publication.
Reports must be approved by the board, signed by key personnel, disagreements must be documented; companies must use market-level or industry-specific templates, with additional disclosure requirements for private fund management subsidiaries.
Companies intending to delist must submit applications by Apr. 14, 2025; failure to disclose reports may lead to disciplinary actions or delisting by Jun. 30, 2025.
Insiders, including directors/senior management, are prohibited from trading company stocks during sensitive periods, such as 30 days before annual report announcements.
Companies with financial deficiencies or audit issues must issue regular risk warnings; non-compliance with deadlines may result in trading suspensions, penalties, delisting.
Sponsors must assist companies in preparing reports, ensuring compliance, addressing disclosure risks; also guide delisting or trading suspension applications when required.
Auditors must ensure compliance with regulations, maintain independence, and address, correct errors in disclosed reports with attestation reports as needed.
Companies must keep reports confidential before disclosure and avoid revealing sensitive or classified information without proper explanations.
Effectiveness
Companies must schedule 2024 annual report disclosures starting Dec. 30, 2024, and finalize appointments by Jan. 3, 2025; reports must be disclosed by Apr. 30, 2025.
