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beijing business daily (reporter ma huanhuan) on the evening of september 24, the official website of the china securities regulatory commission issued a statement saying that in order to implement the "several opinions of the state council on strengthening supervision, preventing risks and promoting high-quality development of the capital market", further guide listed companies to pay attention to their own investment value and effectively improve investor returns, it has studied and drafted the "guidelines for the supervision of listed companies no. 10-market value management (draft for comments)" (hereinafter referred to as the "guidelines"), and is now soliciting public opinions.

the guidelines require listed companies to improve their operating efficiency and profitability based on improving the quality of listed companies, and to use mergers and acquisitions, equity incentives, cash dividends, investor relations management, information disclosure, share repurchases and other methods in accordance with the law and in compliance with the actual situation to promote the investment value of listed companies. the guidelines clarify the responsibilities of the board of directors, directors and senior management, controlling shareholders and other relevant parties of listed companies, and make special requirements for major index component companies to disclose market value management systems and for companies with long-term negative net assets to disclose valuation improvement plans. at the same time, the guidelines clearly prohibit listed companies from committing illegal and irregular acts in the name of market value management.