| Notice by the Shenzhen Stock Exchange, China Securities Finance Corporation Limited and China Securities Depository and Clearing Co., Ltd. of Issuing the Special Provisions of the Shenzhen Stock Exchange, China Securities Finance Corporation Limited and China Securities Depository and Clearing Co., Ltd. on Securities Lending in Margin Financing Loans and Margin Securities Loans on the ChiNext | | 深圳证券交易所、中国证券金融股份有限公司、中国证券登记结算有限责任公司关于发布《深圳证券交易所、中国证券金融股份有限公司、中国证券登记结算有限责任公司创业板转融通证券出借和转融券业务特别规定》的通知 |
| (No. 514 [2020] of the Shenzhen Stock Exchange) | | （深证上〔2020〕514号） |
| All market participants: | | 各市场参与人： |
| For the purposes of advancing the reform of the ChiNext and conducting the pilot program on the registration system, and improving the long and short position balance mechanism of the ChiNext, the Shenzhen Stock Exchange has, in conjunction with China Securities Finance Corporation Limited and China Securities Depository and Clearing Co., Ltd., developed the Special Provisions on Securities Lending in Margin Financing Loans and Margin Securities Loans on the ChiNext, which have been approved by the China Securities Regulatory Commission, are hereby issued, and shall come into force on the first date when the first stock is listed in accordance with the Measures for the Administration of the Registration of Initial Public Offerings of Stocks on the ChiNext (for Trial Implementation). | | 为推进创业板改革并试点注册制，完善创业板市场多空平衡机制，深圳证券交易所联合中国证券金融股份有限公司、中国证券登记结算有限责任公司，制定了《创业板转融通证券出借和转融券业务特别规定》。经中国证监会批准，现予以发布，并自按照《创业板首次公开发行股票注册管理办法（试行）》发行上市的首只股票上市首日起施行。 |
| Annex: Special Provisions of the Shenzhen Stock Exchange, China Securities Finance Corporation Limited and China Securities Depository and Clearing Co., Ltd. on Securities Lending in Margin Financing Loans and Margin Securities Loans on the ChiNext | | 特此通知 |
| Shenzhen Stock Exchange | | 附件：深圳证券交易所、中国证券金融股份有限公司、中国证券登记结算有限责任公司创业板转融通证券出借和转融券业务特别规定 |
| China Securities Finance Corporation Limited | | 深圳证券交易所 |
| China Securities Depository and Clearing Co., Ltd. | | 中国证券金融股份有限公司 |
| June 12, 2020 | | 中国证券登记结算有限责任公司 |
| Annex | | 2020年6月12日 |
| Special Provisions of the Shenzhen Stock Exchange, China Securities Finance Corporation Limited and China Securities Depository and Clearing Co., Ltd. on Securities Lending in Margin Financing Loans and Margin Securities Loans on the ChiNext | | 附件 |
| | 深圳证券交易所、中国证券金融股份有限公司、中国证券登记结算有限责任公司 |
| Chapter I General Provisions | | 创业板转融通证券出借和转融券业务特别规定 |
| Article 1 For the purposes of promoting the smooth implementation of securities lending in margin financing loans and margin securities loans on the ChiNext and preventing business risks, these Provisions are developed in accordance with the Pilot Measures for the Supervision and Administration of Margin Financing Loans, the Measures for the Administration of the Registration of Initial Public Offerings of Stocks on the ChiNext (for Trial Implementation), the Implementation Measures of the Shenzhen Stock Exchange for Securities Lending in Margin Financing Loans (for Trial Implementation) (hereinafter referred to as the “Implementation Measures for Securities Lending”), the Business Rules of China Securities Finance Corporation Limited for Margin Financing Loans (for Trial Implementation) (hereinafter referred to as the “Business Rules for Margin Financing Loans”), the Business Rules of China Securities Depository and Clearing Co., Ltd. for the Registration and Clearing of Securities Lending and Margin Financing Loans (for Trial Implementation) (hereinafter referred to as the “Business Rules for the Registration and Clearing of Securities Lending and Margin Financing Loans”) and other relevant provisions. | | 第一章 总则 |
| Article 2 These Provisions shall apply to securities lending, margin securities loans and the relevant registration and clearing services regarding stocks and depositary receipts (hereinafter referred to as “stocks”) listed for trading on the ChiNext. Any matter not provided for in these Provisions shall be governed by the Measures for the Implementation of Securities Lending, the Business Rules for Margin Financing Loans, the Business Rules for the Registration and Clearing of Securities Lending and Margin Financing Loans and other relevant provisions. | | 第一条 为促进创业板转融通证券出借和转融券业务的顺利开展，防范业务风险，根据《转融通业务监督管理试行办法》《创业板首次公开发行股票注册管理办法（试行）》《深圳证券交易所转融通证券出借交易实施办法（试行）》（以下简称《证券出借实施办法》）、《中国证券金融股份有限公司转融通业务规则（试行）》（以下简称《转融通业务规则》）、《中国证券登记结算有限责任公司证券出借及转融通登记结算业务规则（试行）》（以下简称《证券出借及转融通登记结算业务规则》）等有关规定，制定本规定。 |
| Article 3 Securities lenders (hereinafter referred to as “lenders”) and borrowers of margin securities loans (hereinafter referred to as “borrowers”) may participate in securities lending and margin securities loans in the manner of an agreed or non-agreed order according to these Provisions. | | 第二条 创业板上市交易的股票和存托凭证（以下统称股票），其证券出借、转融券以及相关登记结算业务适用本规定。本规定未作规定的，适用《证券出借实施办法》《转融通业务规则》《证券出借及转融通登记结算业务规则》等其他有关规定。 |
| In the case of participation in the manner of an agreed order, the lender and the borrower shall determine through consultation the quantity, term, fee rate and other elements according to these Provisions and other relevant business rules. | | |
| | 第三条 证券出借人（以下简称出借人）和转融券借入人（以下简称借入人）可以按本规定通过约定申报和非约定申报方式参与证券出借以及转融券业务。 |
| Article 4 China Securities Finance Corporation Limited (hereinafter referred to as “CSF”) shall engage in securities lending and margin securities loans with lenders and borrowers respectively, and provide an information exchange platform. Lenders and borrowers may announce the lending intent, borrowing intent and other information through the information exchange platform. | | 通过约定申报方式参与的，由出借人、借入人按本规定及其他有关业务规则协商确定数量、期限、费率等要素。 |
| Chapter II Securities Lending | | 第四条 中国证券金融股份有限公司（以下简称中国证券金融公司）分别与出借人、借入人进行证券出借、转融券业务，并提供信息交互平台，出借人、借入人可以通过信息交互平台发布出借意愿、借入意愿等信息。 |
| Article 5 Qualified institutional investors of publicly offered funds, social security funds and insurance funds as well as strategic investors participating in the IPO of issuers on the ChiNext (hereinafter referred to as “strategic investors”) may participate in securities lending as lenders. | | 第二章 证券出借 |
| Article 6 The scope of underlying securities for securities lending shall be the same as that of underlying securities that may be short sold. | | 第五条 符合条件的公募基金、社保基金、保险资金等机构投资者，以及参与创业板发行人首次公开发行的战略投资者（以下简称战略投资者），可以作为出借人参与证券出借。 |
| Article 7 The types of securities that may participate in securities lending in the manner of an agreed or non-agreed order include: | | 第六条 证券出借的标的证券范围，与可融券卖出的标的证券范围一致。 |
| (1) tradable shares without selling restrictions; | | 第七条 可通过约定申报和非约定申报方式参与证券出借的证券类型包括： |
| (2) shares within the promised lock-up period placed with strategic investors; and | | （一）无限售流通股； |
| (3) other securities in compliance with the provisions. | | （二）战略投资者配售获得的在承诺的持有期限内的股票； |
| Article 8 The borrower's stock that has been pledged or frozen by the competent authority shall not be used for lending. The lender or a securities company providing securities lending services as an agent shall conduct pre-examination and control before placing securities lending orders. | | （三）符合规定的其他证券。 |
| Article 9 A strategic investor that has affiliation relations with a securities company may lend the shares placed with it or him in the manner of an agreed order during the promised shareholding period, merely for the securities company's margin trading, and the strategic investor shall not conspire with a securities company, any other affiliate or any other entity to lock up gains from the placed shares, conduct tunneling or seek other illicit benefits. | | 第八条 出借人的股票已被质押或被有权机关冻结的，不得用于出借。出借人、提供证券出借交易代理服务的证券公司，在申报证券出借指令前应当进行前端检查和控制。 |
| A strategic investor and its affiliate shall not short sell the stock of the listed company within the holding period promised by the strategic investor. | | |
| Where a strategic investor violates the provisions of this Article, the Shenzhen Stock Exchange (hereinafter referred to as the “SZSE”) may, according to the seriousness of circumstances, take separate or joint self-regulatory measures such as giving a verbal or written warning and holding an interview and such disciplinary actions as circulating a notice of criticism and issuing a public censure, and notify the Securities Association of China. | | 第九条 战略投资者与证券公司存在关联关系的，在承诺持有期限内，可以通过约定申报方式出借获配股票，仅供该证券公司开展融资融券业务，不得与证券公司等关联方或其他主体合谋，锁定配售股票收益、实施利益输送或谋取其他不当利益。 |
| | 战略投资者及其关联方，在战略投资者承诺持有期限内，不得融券卖出该上市公司股票。 |
| Article 10 Where an issuer conducts an IPO and place shares with strategic investors, the SZSE shall announce on each trading day the number of shares involved in the strategic placement that may be lent and have been lent and not been returned, as well as the number of restricted tradable shares and tradable shares without selling restrictions. | | 战略投资者违反本条规定的，深圳证券交易所（以下简称深交所）可以视情节轻重，对其单独或合并采取口头或书面警示、约见谈话等自律监管措施和通报批评、公开谴责等纪律处分，并通报中国证券业协会。 |
Article 11 Where a lender participates in securities lending in the manner of an agreed order, the securities lending period may be determined through negotiation within the period from one day to 182 days.
．．．．．． | | 第十条 对于发行人首次公开发行股票向战略投资者配售的，深交所于每个交易日公布该股票可出借和已出借且尚未归还的战略配售股票数量，以及限售流通股和无限售流通股数量。
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