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Notice by the Shanghai Stock Exchange of Issuing the Guidelines of the Shanghai Stock Exchange for the Recommendation for the Listing of Enterprises on the Sci-tech Innovation Board [Effective]
上海证券交易所关于发布《上海证券交易所科创板企业上市推荐指引》的通知 [现行有效]
【法宝引证码】

Notice by the Shanghai Stock Exchange of Issuing the Guidelines of the Shanghai Stock Exchange for the Recommendation for the Listing of Enterprises on the Sci-tech Innovation Board 

上海证券交易所关于发布《上海证券交易所科创板企业上市推荐指引》的通知

(No. 30 [2019] of the Shanghai Stock Exchange) (上证发〔2019〕30号)

All market participants: 各市场参与人:
For the purposes of promoting the building of the Sci-tech Innovation Board of the Shanghai Stock Exchange (SSE), regulating and directing sponsors to accurately understand the positioning of the Sci-tech Innovation Board, and effectively making recommendations for the listing of enterprises on the Sci-tech Innovation Board, in accordance with the Implementation Opinions on Setting up the Sci-tech Innovation Board and Launching the Pilot Program of the Registration System on the Shanghai Stock Exchange, the Measures for the Administration of the Registration of IPO Stocks on the Sci-tech Innovation Board (for Trial Implementation), the Administrative Measures for the Recommendation Business of the Issuance and Listing of Securities, the Rules of the Shanghai Stock Exchange Governing Review of the Issuance and Listing of Stocks on the Sci-tech Innovation Board and other relevant provisions, the SSE has developed the Guidelines of the Shanghai Stock Exchange for the Recommendation for the Listing of Enterprises on the Sci-tech Innovation Board (see Annex), which are hereby issued and shall come into force on the date of issuance. 为了促进上海证券交易所(以下简称本所)科创板建设,规范和引导保荐机构准确把握科创板定位,做好科创板企业上市推荐工作,根据《关于在上海证券交易所设立科创板并试点注册制的实施意见》《科创板首次公开发行股票注册管理办法(试行)》《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票发行上市审核规则》等有关规定,本所制定了《上海证券交易所科创板企业上市推荐指引》(详见附件),现予以发布,并自发布之日起施行。
 
特此通知。
Annex: Guidelines of the Shanghai Stock Exchange for the Recommendation for the Listing of Enterprises on the Sci-tech Innovation Board 附件:上海证券交易所科创板企业上市推荐指引
Shanghai Stock Exchange 上海证券交易所
March 3, 2019 二〇一九年三月三日
Annex: 附件:
Guidelines of the Shanghai Stock Exchange for the Recommendation for the Listing of Enterprises on the Sci-tech Innovation Board 上海证券交易所科创板企业上市推荐指引
Article 1 For the purposes of regulating and directing sponsors to accurately grasp the positioning of the Sci-tech Innovation Board and effectively making recommendations for the listing of enterprises on the Sci-tech Innovation Board, these Guidelines are developed in accordance with the Implementation Opinions on Setting up the Sci-tech Innovation Board and Launching the Pilot Program of the Registration System on the Shanghai Stock Exchange (hereinafter referred to as the “Implementation Opinions”), the Measures for the Administration of the Registration of IPO Stocks on the Sci-tech Innovation Board (for Trial Implementation) (hereinafter referred to as the “Registration Administration Measures”), the Measures for the Administration of the Sponsorship Business for Securities Issuance and Listing, the Rules of the Shanghai Stock Exchange Governing Review of the Issuance and Listing of Stocks on the Sci-tech Innovation Board (hereinafter referred to as the “Review Rules”) and other relevant provisions.   第一条 为了规范和引导保荐机构准确把握科创板定位,做好科创板企业上市推荐工作,根据《关于在上海证券交易所设立科创板并试点注册制的实施意见》(以下简称《实施意见》)《科创板首次公开发行股票注册管理办法(试行)》(以下简称《注册管理办法》)《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票发行上市审核规则》(以下简称《审核规则》)等有关规定,制定本指引。
Article 2 A sponsor shall recommend enterprises to be listed on the Sci-tech Innovation Board based on the positioning of the Sci-tech Innovation Board. When grasping the positioning of the Board, the sponsor shall follow the following principles:   第二条 保荐机构应当基于科创板定位,推荐企业在科创板发行上市。保荐机构在把握科创板定位时,应当遵循下列原则:
(1) Continuously targeted at the world's frontiers of science and technology, the main economic theater and the state's major demand; (一)坚持面向世界科技前沿、面向经济主战场、面向国家重大需求;
(2) Respecting the laws of scientific and technological innovation and enterprise development; (二)尊重科技创新规律和企业发展规律;
(3) Appropriately handling the relationship between the current reality of science and technology innovation enterprises and the goal of Sci-tech Innovation Board construction; and (三)处理好科技创新企业当前现实和科创板建设目标的关系;
(4) Appropriately handling the relationship between giving priority to enterprises supported by the Sci-tech Innovation Board and taking into account those covered by the Board. (四)处理好优先推荐科创板重点支持的企业与兼顾科创板包容的企业之间的关系。
Article 3 A sponsor shall, in accordance with the requirements of the positioning of the Sci-tech Innovation Board as specified in the Implementation Opinions, Registration Administration Measures, and Review Rules, give priority to recommending the following enterprises:   第三条 保荐机构应当按照《实施意见》《注册管理办法》《审核规则》明确的科创板定位要求,优先推荐下列企业:
(1) Technologically innovative enterprises that are in line with national strategies, make a breakthrough in key and core technologies and gain high market recognition; (一)符合国家战略、突破关键核心技术、市场认可度高的科技创新企业;
(2) Technologically innovative enterprises that are categorized into new and high-tech industries and strategic emerging industries such as new-generation information technology, high-end equipment, new materials, new energy, energy conservation and environment protection, and biomedicine; and (二)属于新一代信息技术、高端装备、新材料、新能源、节能环保以及生物医药等高新技术产业和战略性新兴产业的科技创新企业;
(3) Technologically innovative enterprises with deep integration of the Internet, big data, cloud computing, artificial intelligence and manufacturing. (三)互联网、大数据、云计算、人工智能和制造业深度融合的科技创新企业。
While giving priority to recommending the enterprises as set out in the preceding paragraph, the sponsor may, as required by these Guidelines, recommend other enterprises with greater technological innovation capabilities. 保荐机构在优先推荐前款规定企业的同时,可以按照本指引的要求,推荐其他具有较强科技创新能力的企业。
Article 4 A sponsor shall accurately grasp the positioning of the Sci-tech Innovation Board, earnestly perform due diligence, effectively conduct verification and demonstration of whether the recommended enterprise conforms to the positioning of the Sci-tech Innovation Board, conduct professional judgment of the matters such as whether the enterprise conforms to the relevant industry scope, carry out production and operation by relying on core technologies or has greater growth potential before making prudent recommendation decision and issuing special opinions about the conformity with the positioning of the Sci-tech Innovation Board.   第四条 保荐机构应当准确把握科创板定位,切实履行勤勉尽责要求,做好推荐企业是否符合科创板定位的核查论证工作,就企业是否符合相关行业范围、依靠核心技术开展生产经营、具有较强成长性等事项进行专业判断,审慎作出推荐决定,并就企业符合科创板定位出具专项意见。
Article 5 A sponsor shall accurately grasp the operation characteristics of an enterprise engaging in scientific and technological innovation and fully evaluate its scientific and technological innovation capabilities by focusing on the following matters:   第五条 保荐机构应当准确把握科技创新企业的运行特点,充分评估企业科技创新能力,重点关注以下事项:
(1) Whether it has mastered the core technologies with independent intellectual property rights, and whether the core technologies are clear in ownership, lead domestically or internationally, or are mature or have a risk of rapid iteration; (一)是否掌握具有自主知识产权的核心技术,核心技术是否权属清晰、是否国内或国际领先、是否成熟或者存在快速迭代的风险;
(2) Whether it has an efficient research and development (R&D) system, the ability to conduct continuous innovation, or the foundation and potential needed to make a breakthrough in key and core technologies, including but not limited to R&D management, the number of the R&D personnel, the composition of the R&D team and background of the R&D personnel, R&D expenditures, R&D equipment, and R&D technical reserves; (二)是否拥有高效的研发体系,是否具备持续创新能力,是否具备突破关键核心技术的基础和潜力,包括但不限于研发管理情况、研发人员数量、研发团队构成及核心研发人员背景情况、研发投入情况、研发设备情况、技术储备情况;
(3) Whether it has R&D achievements recognized by the market, including but not limited to the invention patents, software copyrights and new-drug approval documents related to the main business, the major research projects undertaken independently or led by it, the national standards or industry standards developed or co-developed by it, and the national science and technology awards and prestigious industry awards received; (三)是否拥有市场认可的研发成果,包括但不限于与主营业务相关的发明专利、软件著作权及新药批件情况,独立或牵头承担重大科研项目情况,主持或参与制定国家标准、行业标准情况,获得国家科学技术奖项及行业权威奖项情况;
(4) Whether it has relative competitive advantages, including but not limited to the market space and technical barriers in the industry, the status of the industry and its major competitors, technical advantages and sustainability, and the competitiveness of the core business team and technical team; (四)是否具有相对竞争优势,包括但不限于所处行业市场空间和技术壁垒情况,行业地位及主要竞争对手情况,技术优势及可持续性情况,核心经营团队和技术团队竞争力情况;
(5) Whether it has the conditions where technical achievements are effectively transformed into business achievements, forms a business model conducive to the continuous operation of the enterprise, or rely on core technologies to create greater growth potential, including but not limited to technology applications, market development, key customer composition, revenue scale and growth, and product or service profitability; and (五)是否具备技术成果有效转化为经营成果的条件,是否形成有利于企业持续经营的商业模式,是否依靠核心技术形成较强成长性,包括但不限于技术应用情况、市场拓展情况、主要客户构成情况、营业收入规模及增长情况、产品或服务盈利情况;
(6) Whether it serves high-quality economic development and national strategies such as the innovation-driven development strategy, sustainable development strategy and civil-military integration development strategy, and supply-side structural reform. (六)是否服务于经济高质量发展,是否服务于创新驱动发展战略、可持续发展战略、军民融合发展战略等国家战略,是否服务于供给侧结构性改革。
The sponsor shall disclose the relevant verification process, basis and conclusion in the Special Opinions on the Issuer's Conformity with the Positioning Requirements of the Sci-tech Innovation Board. 保荐机构应当在《关于发行人符合科创板定位要求的专项意见》中披露相关核查过程、依据和结论。
Article 6 A sponsor shall accurately grasp the development trend of scientific and technological innovation, and focus on recommending the enterprises engaging in scientific and technological innovations in the following fields:   第六条 保荐机构应当准确把握科技创新的发展趋势,重点推荐下列领域的科技创新企业:
(1) The field of new-generation information technology, mainly including semiconductors and integrated circuits, electronic information, next-generation information networks, artificial intelligence, big data, cloud computing, emerging software, the Internet, Internet of things and intelligent hardware and so forth; (一)新一代信息技术领域,主要包括半导体和集成电路、电子信息、下一代信息网络、人工智能、大数据、云计算、新兴软件、互联网、物联网和智能硬件等;
(2) The field of high-end equipment, mainly including intelligent manufacturing, aerospace, advanced rail transit, marine engineering equipment and related technical services, among others; (二)高端装备领域,主要包括智能制造、航空航天、先进轨道交通、海洋工程装备及相关技术服务等;
(3) The field of new materials, including advanced steel materials, advanced non-ferrous metal materials, advanced petrochemical and chemical new materials, advanced inorganic non-metallic materials, high-performance composite materials, cutting-edge new materials and related technical services, among others; (三)新材料领域,主要包括先进钢铁材料、先进有色金属材料、先进石化化工新材料、先进无机非金属材料、高性能复合材料、前沿新材料及相关技术服务等;
(4) The field of new energy, mainly including advanced nuclear power, large-scale wind power, high-efficiency photo-electricity and photo-thermal, high-efficiency energy storage and related technical services; (四)新能源领域,主要包括先进核电、大型风电、高效光电光热、高效储能及相关技术服务等;
(5) The field of energy conservation and environmental protection, including high-efficiency energy-saving products and equipment, advanced environmental protection technology and equipment, advanced environmental protection products, resource recycling, new energy vehicles, key parts of new energy vehicles, power batteries and related technical services, among others; (五)节能环保领域,主要包括高效节能产品及设备、先进环保技术装备、先进环保产品、资源循环利用、新能源汽车整车、新能源汽车关键零部件、动力电池及相关技术服务等;
(6) The field of bio-pharmaceutical, mainly including biological products, high-end chemical drugs, high-end medical equipment and devices and related technical services, among others; and (六)生物医药领域,主要包括生物制品、高端化学药、高端医疗设备与器械及相关技术服务等;
(7) Other fields that are in line with the positioning of the Sci-tech Innovation Board. (七)符合科创板定位的其他领域。
Article 7 A sponsor shall not recommend the enterprises from the industries are explicitly inhibited by the national industrial policy, or the enterprises that endanger national security, public security, ecological security, production safety and public health and safety.   第七条 保荐机构不得推荐国家产业政策明确抑制行业的企业,不得推荐危害国家安全、公共安全、生态安全、生产安全、公众健康安全的企业。
Article 8 The sponsor's verification and demonstration of the positioning of the Sci-tech Innovation Board will be used as the basis for the evaluation of the practicing quality of sponsors and sponsor representatives by SSE.   第八条 保荐机构关于科创板定位的核查论证工作将作为上海证券交易所(以下简称本所)对保荐机构和保荐代表人执业质量考核的依据。
Article 9 The SSE will, based on the positioning of the Sci-tech Innovation Board, review stock issuance and listing, and pay full attention to whether the enterprise conforms to the positioning of the Sci-tech Innovation Board by taking into consideration the special opinions issued by the sponsor.   第九条 本所基于科创板定位开展发行上市审核工作,结合保荐机构出具的专项意见,对企业是否符合科创板定位予以充分关注。
Article 10 The SSE may, in accordance with the national economic development strategy and industrial policy orientation, adjust the key recommended areas and key concerns as set out in these Guidelines.   第十条 本所可以根据国家经济发展战略和产业政策导向,对本指引所列重点推荐领域以及重点关注事项等进行调整。
Article 11 The power of interpretation of these Guidelines shall be vested in the Shanghai Stock Exchange.   第十一条 本指引由本所负责解释。
Article 12 These Guidelines shall come into force on the date of issuance.   第十二条 本指引自发布之日起施行。
     
     
【法宝引证码】        北大法宝en.pkulaw.cn
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