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By Shangguan Zhoudong (Chinadaily.com.cn)
Updated: 2007-07-03 08:25

Listed companies must disclose their information on stocks they hold in other listed companies and stakes they have in non-listed financial companies and companies planning to go public, according to circulars issued by theShanghai Stock Exchange(SSE) andShenzhen Stock Exchangeyesterday.

The two exchanges also announced yesterday a timetable for the disclosure of listed companies' interim reports of 2007.

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As for companies that went public before June 30 of this year, their interim reports should be announced as of August 31 this year, according to the circulars.

If listed companies are unable to complete the disclosure before August 31, they should submit written statements to their exchanges to explain the reason for delay and the deadline.

The two stock exchanges will stop trading stocks for those listed companies which fail to announce their interim results by September 1; they will resume trading once they make their reports.

If listed companies' first-half-year results are given away before the release of their interim reports, or the trading of their stocks and other derivatives fluctuate abnormally due to rumors on performance, they must disclose the relevant accounting information.

SSE will allow a maximum of 50 listed companies to announce their interim reports per day, and the Shenzhen Stock Exchange will arrange 30 companies at most to announce their half-year results daily.

The Shenzhen exchange ordered that senior executives of listed companies be not allowed to trade their companies' stocks during the information disclosure period. The exchange also encourage companies that are listed on its small- and medium-sized enterprises board and plan to disclose their interim results in August to make the disclosure before the end of July.