At the beginning of July, CICC received the first regulatory fine issued by the Securities Regulatory Commission. After investigation, CICC altered the issuer registration application document without authorization in the application process of sponsoring the initial public offering of shares in the Science and Technology Section of China Control. On July 16, CITIC Securities received the second sponsorship ticket from Kechuang Stock Exchange because of the deletion of the registration draft of the issuers prospectus without authorization. And the signature date of the registration draft of the multi-edition prospectus submitted does not match the actual time.
At the same time, Shang Zhenyu also pointed out that sponsors play an important role in information disclosure, undertaking the material production and submission of the IPO phase of the company. Any untrue and incomplete information disclosure behavior is an interference to the market order and market ecology. The registration system, delisting system, strong information disclosure system and the whole process supervision are the comprehensive deepening reform of the capital market system. True information disclosure directly decides the success of SCM enterprises. As an important part of the capital market, sponsors are the first gateway of SCM.