【中英文对照版】上海证券交易所股票发行上市审核规则(2024年4月修订).docx

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1、上海证券交易所关于发布上海证券交易所股票发行上市审核规则（2024年4月修订）的通知（上证发（2024）49号）各市场参与人:为了深入贯彻落实中央金融工作会议精神和国务院关于加强监管防范风险推动资本市场高质量发展的若干意见，规范股票发行上市审核工作，保护投资者合法权益，根据中华人民共和国证券法首次公开发行股票注册管理办法上海证券交易所股票发行上市审核规则(2024年4月修订)Ru1.es(JoverningtheExaminationoftheOfferingand1.istingofStocksontheShanghaiStockExchange(RevisedinApri1.2024)制定

2、机关：上海证养父弗所发文字号：上证发(202449号公布日期：2024.04.30施行日期：2024.04.30效力位阶：行业规定法规美别：成票IssuingAuthority：ShanghaiStockExchangeDocumentNumberNo.492024oftheShanghaiStockExchangeDateIssued：04-30-2024EffectiveDa1.e：04-30-20241.eve1.ofAuthorityIndustryRegu1.ationsAreaof1.aw：StocksNoticebytheShanghaiStockExchangeofIssuin

3、gtheRu1.esGoverningtheExaminationoftheOfferingand1.istingofStocksontheShanghaiStockExchange(RevisedinApri1.2024)(No.492024oftheShanghaiStockExchange)A1.1.marketparticipants:Forthepurposesoffu1.1.yimp1.ementingtheguidingprincip1.esoftheCentra1.Financia1.WorkConferenceandtheSevera1.OpinionsoftheStateC

4、ounci1.onStrengtheningRegu1.ation,PreventingRisksandPromotingtheHigh-Qua1.ityDeve1.opmentoftheCapita1.Market,regu1.atingtheexaminationoftheofferingand1.istingofstocks,andprotectingthe1.awfu1.rightsandinterestsofinvestors,inaccordancewiththetheSecurities等有关规定，上海证券交易所（以下简称本所）修订了上海证券交易所股票发行上市审核规则（详见附件）

5、，经中国证监会批准，现予以发布，并自发布之日起施行。本所于2023年2月17日发布的上海证券交易所股票发行上市审核规则（上证发（2023）28号）同时废止。1.awofthePeop1.esRepub1.icofChina,theMeasuresfortheAdministrationofRegistrationofInitia1.Pub1.icOfferingsofStocks,andotherre1.evantprovisions,theShanghaiStockExchange(SSE)hasdeve1.opedtheRu1.esGoverningtheExaminationoftheO

6、fferingand1.istingofStocksontheShanghaiStockExchange(SeeAnnex),which,asapprovedbytheChinaSecuritiesRegu1.atoryCommission,isherebyissued,eintoforceonthedateofissuance.TheRu1.esGoverningtheExaminationoftheOfferingand1.istingofStocksontheShanghaiStockExchange(No.282023,SSE),asissuedonFebruary17,2023,sh

7、a1.1.beconcurrent1.yrepea1.ed.Annexes:1.Ru1.esGoverningtheExaminationoftheOfferingand1.istingofStocksontheShanghaiStockExchange(RevisedinApri1.2024)2.Exp1.anationsfortheDraftingoftheRu1.esGoverningtheExaminationoftheOfferingand1.istingofStocksontheShanghaiStockExchange(Omitted)ShanghaiStockExchangeA

8、pri1.30,2024Annex1Ru1.esGoverningtheExaminationoftheOffering特此通知。附件:1.上海证券交易所股票发行上市审核规则（2024年4月修订）2.上海证券交易所股票发行上市审核规则（2024年4月修订）超草说明上海证券交易所2024年4月30日附件1上海证券交易所股票发行上市审核规则（2024年4月修订）笫一章总则笫一条为了规范上海证券交易所（以下简称本所）股票发行上市审核工作，保护投资者合法权益，根据中华人民共和国证券法中华人民共和国公司法国务院办公厅关于贯彻实施修订后的证券法有关工作的通知关于在上海证券交易所设立科创板并试点注册制的实施

9、意见首次公开发行股票注册管理办法（以下简称首发注册办法）等相关法律、行政法规、部门规章和规范性文件，制定本规则。第二条发行人申请首次公开发行股票并在本所上市（以下简称股票首次发行上市）的审核，适用本规则。符合国务院办公厅转发证监会关于开展创新企业境内发行股票或存托凭证试点若干意见的通知（国办发（2018）21号）及中国证券监督管理委员会（以下简称中国证监会）和本所相关规定的红筹企业，申请发行股票或者存托凭证并在本所上市的审核，适用本规and1.istingofStocksontheShanghaiStockExchange(RevisedinApri1.2024)ChapterIGenera1

10、.ProvisionsArtic1.e1InaccordancewiththeSecurities1.awofthePeop1.esRepub1.icofChina,theCompany1.awofthePeop1.esRepub1.icofChina,theNoticebytheGenera1.OfficeoftheStateCounci1.oftheWorkconcerningtheImp1.ementationoftheRevisedSecurities1.aw,theImp1.ementationOpinionsonSettinguptheSTARMarketand1.aunching

11、thePi1.otProgramoftheRegistrationSystemontheShanghaiStockExchange,theMeasuresfortheAdministrationofRegistrationofInitia1.Pub1.icOfferingsofStocks(thetiIPOMeasures),andotherre1.evant1.aws,administrativeregu1.ations,departmenta1.ru1.es,andnormativedocuments,theseRu1.esaredeve1.opedforpurposesofregu1.a

12、tingtheexaminationoftheofferingand1.istingofstocksontheShanghaiStockExchange(SSE)andprotectinginvestors1.awfu1.rightsandinterests.Article 2 TheseRu1.esapp1.ytotheexaminationofissuersapp1.icationfortheinitia1.pub1.icofferingand1.istingofstocksontheSSE(IPOand1.isting).TheseRu1.esapp1.ytotheexamination

13、ofapp1.icationsforofferingstocksordepositaryreceiptsand1.istingthemontheSSEmadebyred-chipenterprisesthatcomp1.ywiththeNoticebytheGenera1.OfficeoftheStateCounci1.ofForwardingtheSevera1.OpinionsoftheChinaSecuritiesRegu1.atoryCommissionon1.aunchingthePi1.otProgramofInnovativeEnterprisesDomestica1.1.yIs

14、suingStocksorDepositoryReceipts(No.212018,Genera1.OfficeoftheStateCounci1.)andthere1.evantru1.esoftheChinaSecuritiesRegu1.atory则。Commission(uCSRCn)andtheSSE.第三条发行人申请首次公开发行股票并上市，应当符合相关板块定位。Article 3 Anissuersapp1.icationforanIPOand1.istingsha1.1.conformtothepositioningofthere1.evantboard.主板突出“大盘蓝筹”特色

15、，重点支持业务模式成熟、经营业绩稳定、规模较大、具有行业代表性的优质企业。Themainboard,representedby1.arge-capb1.uechips,prioritizes1.arge-sca1.eandindustria1.1.yrepresentativehigh-qua1.ityenterpriseswithmaturebusinessmode1.sandstab1.eperformance.科创板面向世界科技前沿、面向经济主战场、面向国家重大需求，主要服务于符合国家战略，拥有关键核心技术，科技创新能力突出，主要依靠核心技术开展生产经营，具有稳定的商业模式，市场认可度高

16、，社会形象良好，具有较强成长性的企业。TheSTARMarket,whichistargetedatthewor1.dsscientificandtechno1.ogica1.frontiersandmajoreconomicbatt1.efie1.dsandmeetsmajornationa1.needs,main1.yservesenterpriseswithstab1.ebusinessmode1.s,highmarketrecognition,goodsocia1.image,andgreatgrowthpotentia1.thatcomp1.ywithnationa1.strateg

17、ies,havecoretechno1.ogiesinkeyfie1.dsandprominentscientificandtechno1.ogica1.innovationcapabi1.ities,andengageinproductionandoperationmain1.yusingcoretechno1.ogies.第四条发行人申请股票首次发行上市，应当向本所提交发行上市申请文件。Article 4 Anissuerthatapp1.iesforanIPOand1.istingsha1.1.submittotheSSEtheapp1.icationdocumentsforofferi

18、ngand1.isting.本所对发行人的发行上市申请文件进行审核（以下简称发行上市审核），认为发行人符合发行条件、上市条件和信息披露要求的，将审核意见、发行上市申请文件及相关审核资料报送中国证监会履行注册程序；认为发行人不符合发行条件、上市条件或者信息披露要If,afterexaminingtheissuersofferingand1.istingapp1.icationdocuments(hereinafterreferredtoasofferingand1.istingexamination),theSSEconsidersthatitmeetsofferingand1.istingco

19、nditionsandinformationdisc1.osurerequirements,theissuersha1.1.submitexaminationopinions,offeringand1.istingapp1.icationdocuments,andre1.evantexaminationmateria1.stotheCSRCforregistrationprocedures;iftheSSEconsidersthatitfai1.stomeetofferingand1.isting求的，作出终止发行上市审核的决定。conditionsorinformationdisc1.osu

20、rerequirements,theSSEsha1.1.decidetheterminationoftheofferingand1.istingexamination.第五条本所发行上市审核基于板块定位，重点关注并判断下列事项：Article 5 TheSSEconductsofferingand1.istingexaminationbasedonthepositioningofasector,andp1.acesemphasisonanddeterminesthefo1.1.owing:（一）发行人是否符合中国证监会规定的股票发行条件；（二）发行人是否符合本所规定的股票上市条件；(1) Wh

21、ethertheissuermeetstheofferingconditionsforstockprovidedforbytheCSRC;(2) WhethertheissuermeetstheofferingconditionsforstockprovidedforbytheSSE;and（三）发行人的信息披露是否符合中国证监会和本所要求。(3) Whethertheinformationdisc1.osurebytheissuermeetstherequirementsofboththeCSRCandtheSSE.笫六条本所通过审核发行上市申请文件，督促发行人真实、准确、完整地披露信思，保

22、荐人、证券服务机构切实覆行信息披露的把关责任；督促发行人及其保荐人、证券服务机构提高信息披露质量，便于投资者在信息充分的情况下作出投资决策。Artic1.e6TheSSE,byexaminingtheofferingand1.istingapp1.icationdocuments,supervisesanissuerindisc1.osinginformationinatruthfu1.,accurate,andcomp1.etemannerandthesponsorandsecuritiesserviceprovidersindi1.igent1.yfu1.fi1.1.ingthedutyo

23、fexamininginformationdisc1.osure,andsupervisestheissueranditssponsorandsecuritiesserviceprovidersinenhancingthequa1.ityofinformationdisc1.osure,sothatinvestorsmakeinvestmentdecisionsbasedonsufficientinformation.本所发行上市审核遵循依法合规、公开透明、便捷高效的原则，提高审核透明度，明确市场预期。TheSSEconductsofferingand1.istingexaminationsu

24、ndertheprincip1.esofcomp1.iancewith1.awsandregu1.ations,openness,transparency,convenience,andefficiencytomaketheexaminationmoretransparentandspecifymarketexpectations.第七条本所发行上市审核实行电子化审核，申请、受理、问询、回复等事项通过本所发行上市审核业务系统办理。Article 7 TheSSEconductsthee1.ectronicexaminationofofferingand1.isting,andhand1.esa

25、pp1.ication,acceptance,inquiry,rep1.y,andothermattersthroughtheofferingand1.istingexaminationbusinesssystemoftheSSE.笫八条本所设立发行上市审核机构，对发行人的发行上市申请文件进行审核，出具审核报告。Article 8 TheSSEsetsupanofferingand1.istingexaminationbodythatexaminestheissuersofferingand1.istingapp1.icationdocumentsandissuesanexaminationr

26、eport.本所设立上市审核委员会（以下简称上市委员会），对发行上市审核机构出具的审核报告和发行上市申请文件进行审议，提出审议意见。上市委员会的职责、人员组成、工作程序等事项，由本所另行规定。TheSSEestab1.ishesa1.istingexaminationcommittee(the1.istingCommittee),whichde1.iberatestheexaminationreportissuedbytheofferingand1.istingexaminationbodyandofferingand1.istingapp1.icationdocumentsandprovid

27、esde1.iberationopinions.Theduties,position,workingprocedures,andothermattersofthe1.istingCommitteeareseparate1.yprescribedbytheSSE.本所结合上市委员会的审议意见，出具发行人符合发行条件、上市条件和信息披露要求的审核意见或者作出终止发行上市审核的决定。第九条发行人、保荐人和证券服务机构在项目申报前、首轮审核问询发出后及上市委员会审议后，可以就发行上市审核相关业务问题或者事项向本所发行上市审核机构进行咨询沟通。具体事宜由本所另行规定。TheSSE,in1.ightoft

28、hede1.iberationopinionsprovidedbythe1.istingCommittee,issuesanexaminationopinionthattheissuermeetsofferingand1.istingconditionsandinformationdisc1.osurerequirements,ordecidestoterminatetheofferingand1.istingexamination.Article 9 Anissueranditssponsorandsecuritiesserviceprovidersmayconsu1.tandcommuni

29、catewiththeofferingand1.istingexaminationbodyoftheSSEaboutbusinessissuesormattersre1.atedtoofferingand1.istingexaminationafterthefirstroundofexaminationinquiriesandbeforeprojectapp1.icationaswe1.1.asafterde1.iberationbythe1.istingCommittee.Thespecificmattersareseparate1.yprescribedbytheSSE.笫十条本所依据法律

30、、行政法规、部门规章、规范性文件、本规则及本所其他相关规定，对下列机构和人员在股票发行上市中的相关活动进行自律监管：Article 10 TheSSE,inaccordancewith1.aws,administrativeregu1.ations,departmenta1.ru1.es,normativedocuments,theseRu1.es,andotherre1.evantprovisionsoftheSSE,conductsse1.fregu1.ationofthere1.evantactivitiesofthefo1.1.owinginstitutionsandpersonne1

31、.intheofferingand1.istingofstocks:（一）发行人及其董事、监事、高级管理人员；(1) Theissueranditsdirectors,supervisors,andseniorexecutives;（二）发行人的控股股东、实际控制人及其相关人员；(2) Theissuerscontro1.1.ingshareho1.derandactua1.contro1.1.eranditsre1.atedpersonne1.;（三）保荐人、保荐代表人及保荐人其他相关人员；(3) Thesponsoranditssponsorrepresentativeandotherre

32、1.evantpersonne1.;（四）会计师事务所、律师事务所等证券服务机构及其相关人员；(4) Theaccountingfirm,1.awfirm,andothersecuritiesserviceprovidersaswe1.1.astheirre1.evantpersonne1.;and（五）其他信息披露义务人。(5) Otherinformationdisc1.osureob1.igors.前款规定的机构和人员应当积极配合本所发行上市审核工作，遵守廉洁从业有关规定，不得影响或干扰发行上市审核工作，接受本所自律监管并承担相应的法律责任。Theinstitutionsandperso

33、nsspecifiedintheprecedingparagraphsha1.1.active1.yassisttheSSEinofferingand1.istingexaminationandcomp1.ywiththeprovisionsonintegrityinpractice,andsha1.1.notaffectorinterferewiththeexaminationofofferingand1.isting.Theysha1.1.acceptthese1.f-regu1.ationoftheSSEandassumethecorresponding1.ega1.1.iabi1.it

34、y.第十一条本所出具发行人符合发行条件、上市条件和信息披露要求的审核意见，不表明本所对发行上市申请文件Artic1.e11ThefactthattheSSEissuesanexaminationopinionontheissuerscomp1.iancewithofferingand1.istingconditionsandinformationdisc1.osurerequirementsdoesnotmeantheSSEsguaranteeontheveracity,accuracy,and及所披露信息的真实性、准确性、完整性作出保证，也不表明本所对该股票的投资价值或者投资者的收益作出实质

35、性判断或者保证。第二章申请与受理comp1.etenessoftheofferingand1.istingapp1.icationdocumentsandthedisc1.osedinformationortheSSE,ssubstantivejudgmentorguaranteeontheinvestmentva1.ueofthestockorreturnstoinvestors.Chapter 11 App1.icationandAcceptance第十二条发行人申请股票首次发行上市，应当按照规定聘请保荐人进行保荐，并委托保荐人通过本所发行上市审核业务系统报送下列发行上市申请文件：Chap

36、ter 12 Anissuerthatapp1.iesforanIPOand1.istingsha1.1.emp1.oyasponsortoconductsponsorshipasrequiredandauthorizethesponsortosubmitthroughtheofferingand1.istingexaminationbusinesssystemoftheSSEthefo1.1.owingofferingand1.istingapp1.icationdocuments:（一）中国证监会规定的招股说明书、发行保荐书、审计报告、法律意见书、公司章程、股东大会决议等注册申请文件；(1

37、) Registrationapp1.icationdocumentsprescribedbytheCSRC,inc1.udingtheprospectus,1.etterofofferingsponsorship,auditreport,1.ega1.opinion,thecompanysby1.aws,andthereso1.utionoftheshareho1.dersmeeting;（二）上市保荐书;(2) The1.etterof1.istingsponsorship;and（三）本所要求的其他文件。(3) OtherdocumentsrequiredbytheSSE.发行上市申请文

38、件的内容与格式应当符合中国证监会和本所的相关规定。Tp1.ywiththere1.evantprovisionsoftheCSRCandtheSSE.第十三条本所收到发行上市申请文件后五个工作日内，对文件进行核对，作出是否受理的决定，告知发行人及其保荐人，并在本所网站公Artic1.e13Withinfiveworkingdaysofreceiptoftheofferingand1.istingapp1.icationdocuments,theSSEverifiesthedocumentsanddecideswhethertoaccepttheapp1.ication,informstheis

39、sueranditssponsor,andpub1.icizesitonthewebsiteoftheSSE.示。Underanyofthefo1.1.owingcircumstances,theissuersha1.1.makesupp1.ementationorcorrectionwithinaprescribedtime1.imitofnotmorethan30workingdays:(1)Theapp1.icationdocumentsforofferingand1.istingareinconsistentwiththe1.istofdocuments,documentname,an

40、ddocumentcontentprescribedbytheCSRCandtheSSE;(b)thedocumentformatisnotinconformitywiththerequirementsoftheSSE;(c)thesignaturesandsea1.sarenotcomp1.eteorc1.ear;(d)anydocumentcannotbeopened;or(e)otherincomp1.etecircumstancesidentifiedbytheSSE.Ifanissuerhasindeeddifficu1.tyinsubmittingthesupp1.ementsor

41、correctionswithin30workingdays,itmaysubmitawrittenapp1.icationforanextensionandexp1.ainthereasontherefor;andanappropriateextensionmaybegrantedwiththeapprova1.oftheSSE.Iftheissuerhassupp1.ementedandcorrectedtheapp1.icationdocumentsforofferingand1.isting,thetimewhentheSSEreceivestheapp1.icationdocumen

42、tsforofferingand1.istingdependsonthedatewhentheissuerfina1.1.ysubmitsthesupp1.ementedandcorrecteddocuments.发行上市申请文件与中国证监会及本所规定的文件目录不相符、文档名称与文档内容不相符、文档格式不符合中国证监会和本所要求、签章不完整或者不清晰、文档无法打开或者存在本所认定的其他不齐备情形的，发行人应当予以补正，补正时限最长不超过三十个工作日。发行人在三十个工作日内提交补正文件确有困难的，可以提交延期补正的书面申请，并说明理由；经本所认可的，可适当延期。发行人补正发行上市申请文件的，本所

43、收到发行上市申请文件的时间以发行人最终提交补正文件的时间为准。TheSSEacceptstheapp1.icationdocumentsaccordingtotheorderinwhichtheissuerhassubmittedthem.本所按照收到发行人发行上市申请文件的先后顺序予以受理。Artic1.e14Inanyofthefo1.1.owingcircumstances,theSSErefusestoaccepttheapp1.icationdocumentsforofferingand1.istingsubmittedbyanissuer:笫十四条存在下列情形之一的，本所不予受理发

44、行人的发行上市申请文件：(1)Theprospectus,1.etterofofferingsponsorship,1.etterof1.istingsponsorship,andotherapp1.ication（一）招股说明书、发行保荐书、上市保荐书等发行上市申请文件不齐备且未按要求补正。(二)发行人及其控股股东、实际控制人、或事、监事、高级管理人员，保荐人、承销商、证券服务机构及其相关人员因证券违法违规被中国证监会采取认定为不适当人选、限制业务活动、证券市场禁入，被证券交易所、国务院批准的其他全国性证券交易场所采取一定期限内不接受其出具的相关文件、公开认定不适合担任发行人董事、监事、高级

45、管理人员，或者被证券业协会采取认定不适合从事相关业务等相关措施，尚未解除。(三)法律、行政法规及中国证监会规定的其他情形。第十五条发行上市申请文件的内容应当真实、准确、完整。自发行上市申请文件申报之日起，发行人及其控股股东、实际控制人、董事、监事和高级管理人员，以及与本次股票发行上市相关的保荐人、证券服务机构及其相关人员即须承担相应的法律责任。未经本所同意，不得对发行上documentsforofferingand1.istingareincomp1.eteandfai1.tobesupp1.ementedandcorrectedasrequired.(2) Theissueroritscon

46、tro1.1.ingshareho1.der,actua1.contro1.1.er,director,supervisor,seniorexecutive,sponsor,underwriterorsecuritiesserviceprovideroranyofitsre1.evantpersonne1.isdeterminedbytheCSRCasunfitfortheposition,restrictedfrombusinessactivities,orprohibitedfromaccesstothesecuritiesmarketduetoanysecrities-re1.atedv

47、io1.ationof1.aworregu1.ation,issubjecttothemeasuressuchasrefusingtoacceptthere1.evantdocumentsissuedbythevio1.atorwithinacertainperiod,pub1.ic1.ydeterminingthevio1.atorasunfitforservingasthedirector,supervisor,orseniorexecutiveoftheissuertakenbyastockexchangeoranyothernationa1.securitiestradingvenue

48、approvedbytheStateCounci1.,orissubjecttothere1.evantmeasuressuchasbeingdeterminedasunfitforprovidingre1.evantservicestakenbytheSecuritiesAssociationofChina,andsuchmeasureshavenotbeen1.ifted.(3) Anyothercircumstanceprescribedby1.aws,administrativeregu1.ations,andtheCSRC.Artic1.e15Thecontentsoftheapp1.icati