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Greatoo Launched Training Activities of New "Securities Law"

On December 28, 2019, the fifteenth meeting of the Standing Committee of the Thirteenth National People's Congress reviewed and approved the newly revised "Securities Law of the People's Republic of China", which will be officially implemented on March 1, 2020. This revision of the Securities Law has further improved the basic system of the securities market in accordance with the design requirements of the top-level system, embodying the direction of marketization, legalization, and internationalization. What’s more, it implemented the implementation of comprehensive deepening reforms in the securities market, effectively preventing and controlling market risks, and improving the quality of listed companies, effectively safeguard the legitimate rights and interests of investors, promote the functioning of the securities market to serve the real economy, and create a standardized, transparent, open, dynamic, and resilient capital market that provides strong legal protection and has very important and far-reaching significance.
In order to better implement the study of new "Securities Law" and promote the operation in accordance with the law, the company's enterprise management center actively carried out the promotion and training activities of the new "Securities Law". The company's board secretary Wu Hao interpreted the key points of the new "Securities Law" in detail for all directors, supervisors, and senior management personnel. At the same time, they collected the policy documents issued by the State Council, Guangdong Provincial Securities Regulatory Bureau, Shenzhen Stock Exchange and other regulatory agencies and then communicated them to the company's directors and supervisors to study and implement them carefully. In addition, it has organized two training courses in the "Guidelines for the Standard Operation of Listed Companies of Shenzhen Stock Exchange (Revised in 2020)" and "Key Points of Information Disclosure and Changes in Rights and Interests under the New Securities Law" to thoroughly understand and master the new regulations and requirements to avoid ignorance unnecessary violations.
In view of the fact that the information disclosure problems of the "rubbing hot spots" of listed companies in the A-share market have occurred frequently, many listed companies have actively disclosed information such as "epidemic prevention and control", "Tesla", "Huawei", "photovoltaic battery", "blockchain" product or business information related to market hotspots, which has caused the company's stock price to fluctuate abnormally. Greatoo attaches great importance to and earnestly studied the "Notice on the Regulation of Voluntary Information Disclosures by Listed Companies and Prohibit from Rubbing Hot Spots" issued by the Guangdong Securities Regulatory Bureau, to further clarify the truthfulness, accuracy and completeness of voluntary information disclosure, to effectively protect the legitimate rights and interests of investors and establish a good market image for the company.

The study and implementation of this new "Securities Law" is of great significance to Greatoo to strengthen the system construction, improve the investor protection system, improve the quality of information disclosure, and promote the company's standardized operation.