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All member units:
In order to maintain the warrant trading order and promote the healthy development of the warrant market《 Interim Measures of Shenzhen Stock Exchange for the Administration of Warrants 》(hereinafter referred to as the "Interim Measures"), we hereby notify the following matters concerning the creation of warrants by securities companies:
1、 For the listed warrants that can be created after being recognized by the Bourse, the securities companies that can engage in securities proprietary business and obtain the pilot qualification for innovative activities of the Securities Association of China (hereinafter referred to as the "founders") can create the same type of warrants in accordance with the provisions of this Circular. The created warrants have the same securities codes and securities abbreviations as the original listed warrants.
2、 The Founder may apply to the Exchange for the creation or cancellation of the Warrants, and the creation or cancellation of the Warrants shall be subject to the consent of the Exchange.
The founder shall not apply for the creation or cancellation of warrants more than once a day, and the number of applications for the creation or cancellation of warrants each time shall not be less than 1 million; If the number of remaining warrants is less than 1 million at the time of application for cancellation, the founder shall apply for cancellation of all warrants at one time.
3、 When the founder applies to the Exchange for the creation of warrants, the number of warrants applied for creation shall meet the following conditions at the same time:
1. If the initial issuance of warrants is less than 600 million, the number of warrants that can be created on that day shall not exceed 300 million; If the initial issuance of warrants is more than 600 million, the number of warrants that can be created on that day shall not exceed 50% of the initial issuance.
2. The created warrants and the same subject matter negotiable securities The sum of the same type of warrants multiplied by the exercise ratio shall not exceed 100% of the underlying securities without limited sales conditions.
4、 When more than one founder applies for the creation of the same warrant on the same day, and the total number of warrants applied for creation exceeds the number of warrants that can be created, the Exchange shall distribute the number of warrants that can be created in proportion.
Warrants created on different dates shall be in the order of creation according to the date sequence. For warrants created on the same day, those with a large number of warrants created are deemed to be created first, and those with the same number of warrants created are determined by drawing lots.
5、 If the founder intends to create the warrant, he/she shall open a special securities account for exercise in Shenzhen Branch of China Securities Depository and Clearing Corporation Limited (hereinafter referred to as the Clearing Corporation) before 11:30 a.m. of the trading day before submitting the application for creation to the Exchange, and deposit the subject securities used as the guarantee for exercise performance in full in the account. At the same time, the Founder shall apply for the establishment of a special fund settlement account for the exercise of warrants.
If the founder intends to create the put warrants, it shall open a special capital settlement account for exercise in the clearing company before 11:30 a.m. of the trading day before submitting the application for creation to the Exchange, and deposit the full amount of the capital for guarantee of exercise performance in the account, which is also used for the exercise settlement business of the put warrants.
At the same time, the founder shall also designate a proprietary securities account as a special account for the creation of warrants, which shall be used to complete the settlement of warrants and underlying securities related to the creation and cancellation, and shall be reported to the Exchange and the Clearing Company for filing.
6、 The founder shall continue to pay attention to the status of the collateral for exercise performance, and ensure that the special securities account for exercise and the special capital settlement account for exercise have sufficient collateral for exercise performance.
The subject-matter securities or funds pledged, judicial frozen or with other rights defects shall not be used as the exercise performance guarantee created by the warrants.
7、 The Founder shall designate two professionals as the contact persons, and authorize them to be responsible for the contact with the Exchange and the Clearing Company, and to handle the business related to the creation of warrants on behalf of the Founder.
The founder shall timely report the authorization document of the founder and relevant information of the contact person to the Exchange and the clearing company for filing after appointing the contact person.
In case of any change in the contact person designated by the founder and its relevant information, the founder shall timely notify the Exchange and the Clearing Company.
8、 The founder who applies to the Exchange for the creation of warrants shall submit relevant application materials as required by the Exchange before 10:30 a.m. of each trading day.
If the founder submits the creation application to the Exchange after 10:30 a.m. on the trading day, it shall be deemed as the application on the next trading day.
9、 On the day (T day) when we accept the application of the founder, we will make a decision on whether to approve his application for creation and the number of warrants that can be created, notify the founder and make an announcement on our website (www.szse. cn) and CNINFO. com. cn.
The Founder shall, on the day of receiving the notice from the Bourse approving the creation of the Warrants, announce the creation of the Warrants on the CNINFO Internet.
The newly created warrants can only be traded on T+2 days.
10、 If the founder applies to the Exchange for cancellation of the warrants, he shall apply to the clearing company for freezing the relevant warrants before 11:30 a.m. of the trading day prior to the application for cancellation, and submit the relevant application materials as required by the Exchange before 10:30 a.m. of the day of application for cancellation.
If the founder submits the cancellation application to the Exchange after 10:30 a.m. on the trading day, it shall be deemed as the application for the next trading day.
11、 The Bourse will make a decision on whether to approve the application for cancellation of the founder on the day when it accepts the application for cancellation of the founder, notify the founder and make an announcement on the website of the Bourse and the Internet.
The Founder shall, on the day of receiving the notice of the Exchange approving the cancellation of the Warrants, announce the cancellation of the created warrants on the CNINFO Internet.
After the closing of the day, the clearing company shall cancel the warrants of the creator in the order of first creation first cancellation, and release the lock on the exercise performance guarantee securities or funds.
If the number of warrants actually frozen by the founder in the clearing company is inconsistent with the number of warrants cancelled, the relevant cancellation application shall be deemed invalid.
12、 The Exchange shall disclose the creation and cancellation of warrants, trading conditions and the number of warrants that can be created on the next trading day on the website of the Exchange according to the types of warrants after the closing of each trading day. The Exchange may increase the frequency of disclosure according to market conditions.
13、 When the warrant is exercised, the creator shall perform its obligations before the warrant issuer. If there is more than one creator of the same warrant, each creator shall perform relevant obligations in accordance with the principle of "creation first and then exercise".
14、 If the founder violates the relevant provisions of this notice, this ownership will suspend or cancel its creation qualification.
15、 This Circular shall come into force as of December 6, 2005. The specific types of warrant creation and the starting time of creation shall be separately announced by the Exchange.
It is hereby notified.
Shenzhen Stock Exchange
December 2, 2005
Sina statement: The content of this article is purely the author's personal view, only for investors' reference, and does not constitute investment advice. Investors operate accordingly at their own risk.
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