Series of promotional articles on the "Honesty and Creditworthiness as Respected Listed Companies" Investor Protection Special Action (8)
Release time：
2020-06-18
The Eastern wind brings spring to the eyes, and the mountains and rivers stretch for thousands of miles, creating grand plans
——Oriental Pearl TV Tower implements the new securities law and strengthens investor protection
With the promulgation of the new Securities Law and its official implementation on March 1, 2020, it marks a crucial step forward for China's capital market on the path of marketization and rule of law. After the completion of the amendment, the legal foundation for ensuring the healthy and efficient operation of the capital market will be further consolidated, and the market ecology will also undergo profound changes.
At the end of 2019, the China Securities Regulatory Commission issued the "Action Plan to Promote the Improvement of Quality of Listed Companies", which emphasized the "four combinations": first, the combination of internal development of enterprises and external promotion and protection, highlighting the first responsibility of listed companies and enriching external institutional supply; The second is to optimize the combination of increment and adjustment of stock, and to control the import and export well; The third is to combine solving prominent problems with building long-term mechanisms, based on the present and focusing on the long term; The fourth is the combination of regulatory focus and coordinated promotion, focusing on precise supervision, strengthening policy coordination, and promoting the formation of a strong synergy.
For listed companies, keep in mind the "four reverences" and strictly abide by the "four bottom lines". As the first responsibility and main responsibility in improving the quality of listed companies, Oriental Pearl TV Tower will continue to improve its own quality from the following aspects:
1、 Raise awareness, especially among major shareholders and key minority groups such as directors and supervisors, and establish a principle of standardized governance
To become a public company after going public, enterprises must act in accordance with the rules of the capital market and operate openly and transparently. The four core principles and positions of our listed company, proposed by Chairman Yi Huiman, are to respect the market, respect the rule of law, respect professionalism, and respect investors.
Strengthening the understanding of compliance among the company's management is also an effective way to protect investors' right to know. The Office of the Board of Directors of the company has collected, organized, and compiled relevant interpretation materials of the new Securities Law, submitted them to the company's directors and supervisors for study, and read out the important points of the revised Securities Law to the company's executives at the CEO's office meeting. It has focused on studying and highlighting the rules related to the daily performance of the executives of listed companies.
The scope of application for short-term trading has been expanded to include the spouses, parents, and children of directors, supervisors, and senior management. Key interpretations and reminders have been given regarding prohibited trading behaviors such as short-term trading and insider information trading. The study and understanding of relevant concepts by directors, supervisors, and senior management have been strengthened.
The new Securities Law greatly strengthens the punishment for illegal and irregular behaviors, which is also a key point highlighted by the company's directors, supervisors, and senior executives.
At the same time, during the window period before the disclosure of each regular report, the Board of Directors Office will issue a "Window Period Reminder Letter" to major shareholders holding more than 5% of the company's shares, company directors, supervisors, and senior management personnel, emphasizing the rules that must be followed during the window period, such as prohibiting insider information trading, prohibiting buying and selling company stocks during the window period, and prohibiting the disclosure of the company's business situation and major business data information through various types of channels during the window period. For departing directors, supervisors, and senior executives, it was fully reminded that their personal holdings of listed company stocks can only be reduced within six months after leaving.
2、 Improve the quality of listed companies and strengthen their standardized governance
Listed companies must consciously abide by various regulatory rules of the regulatory authorities, operate in compliance, and firmly adhere to the four bottom lines of "not disclosing false information, not engaging in insider trading, not manipulating stock prices, and not harming the interests of listed companies". These are the bottom lines that relevant personnel of listed companies must truly learn and abide by.
Oriental Pearl TV Tower strictly abides by the securities regulatory rules of the China Securities Regulatory Commission and the laws, regulations and industry norms of the Shanghai Stock Exchange, continues to improve the corporate governance structure, standardize the company's operation and management processes, establish a "three board and one layer" governance structure composed of the general meeting of shareholders, the board of directors, the board of supervisors and the management, and form a governance mechanism of incentive mechanism, supervision and balance mechanism. We have achieved a business management structure with clear rights and responsibilities, each performing their own duties, mutual coordination, effective checks and balances, scientific decision-making, and standardized operations.
The company comprehensively strengthened the system construction, introduced and revised a number of systems throughout the year, covering administration, finance, human resources, investment, technology, content, safety and legal affairs, and basically established the Oriental Pearl TV Tower rules and regulations system, providing a clearer path for the allocation, exchange and development of talents, while optimizing the salary structure, not only improving the market competitiveness of core talent compensation, but also strictly controlling human costs.
In terms of internal system review, following the promulgation of the new Securities Law and the issuance of relevant guidelines by the China Securities Regulatory Commission and the stock exchange, the company initiated the development of the "Internal Information Reporting Management System" and its applicable submission form templates at the end of 2019, which were approved by the 8th meeting of the 9th Board of Directors on April 28, 2020. Up to now, the "Information Disclosure Affairs Management System", "Insider Information Registration Management System", "External Information User Management System", "Investor Relations Management System", and "Internal Information Reporting Management System" have been revised, formulated, and disclosed, and have been circulated on the company's intranet and OA. While strengthening institutional construction, it is also necessary to enhance the understanding of relevant rules and regulations in daily work communication with relevant responsible persons and liaison personnel, in order to better implement and promote the implementation of the system.
In 2019, Oriental Pearl TV Tower held two general meetings of shareholders, prepared to hold eight meetings of the board of directors and six meetings of the board of supervisors. The preparation, notification, convening, resolutions, and organization and preservation of meeting materials for each meeting comply with the regulations of standardized operation. Directors, supervisors, and executives carefully review and fully discuss the content of the meeting, and have formed effective resolutions.
In order to promote the good operation and sustainable development of the company, the company nominates and selects members of the highest governance body and its committees based on the principles of openness, fairness, and impartiality, and uses effective internal controls to ensure the stability and standardized operation of the company.
3、 Strengthen information disclosure and protect investors' right to know
1. Strengthen information disclosure
The company strictly adheres to the requirements of the company's listing rules and relevant laws and regulations, continuously improves the modern corporate governance structure composed of the shareholders' meeting, board of directors, supervisory board, and management, and forms a balance mechanism between the power structure, decision-making structure, supervisory structure, and management. Constantly improve the company's information disclosure management system and improve the level of corporate governance. The company formulates and strictly implements the information disclosure and confidentiality related systems such as the Information Disclosure Management System, the Investor Relations Management System, the Insider Registration Management System, and the Oriental Pearl TV Tower Information Disclosure Suspension and Exemption Business Management System in accordance with the relevant provisions of the CSRC. The company released a total of 75 announcements throughout the year, providing truthful, accurate, complete, and timely information disclosure to fully protect investors' right to know.
2. Strengthen investor communication
In 2019, the company actively carried out investor relations management affairs and improved the communication, reception, and service mechanisms for investors. The company continuously strengthens its institutional construction, attaches great importance to communication and interaction with investors, actively answers investor hotlines, checks and replies to investor emails, receives visiting investors, answers investor questions, and conducts open and transparent communication with investors through on-site communication, telephone, fax, network and other means. The company actively receives various types of research and participates in strategic meetings organized by major institutions, actively communicating with investors; Organize investor exchange activities to enhance interaction and communication with investors.
In the whole year of 2019, a total of 687 investor research visits were received, with a total of 1052 people, including 523 online research visits and 164 offline research visits. Received and responded to over 2300 calls from investors throughout the year; Browse and reply to over 100 emails from investors.
In order to further strengthen the interaction and communication with investors, the company participated in the "2019 Shanghai Listed Companies Investor Collective Reception Day" event jointly organized by the Shanghai Association of Listed Companies and the Shanghai Stock Exchange Information Network Co., Ltd. on September 26, 2019. The company's management actively communicated with investors through online communication on issues of corporate governance, development strategy, operating conditions, financing plans, equity incentives, and sustainable development, and answered 43 questions from investors.
4、 Continuously maintain a high proportion of dividends to give back to investors
Since the restructuring of the company in 2015, Oriental Pearl TV Tower has actively returned to investors, enabling them to share the value of the enterprise. Profit distribution has been implemented every year and gradually increased. Total cash dividends have accumulated to 4.275 billion yuan, with an average annual dividend amount of 184% higher than before the restructuring.
5、 Continuously releasing social responsibility reports
The social responsibility report of a listed company is a report that reflects the environmental responsibility, social responsibility, and corporate governance responsibility of the listed company. The company has disclosed its social responsibility report for four consecutive years, demonstrating Oriental Pearl TV Tower's efforts to the government, shareholders, customers, partners, employees, communities, environment and other levels from market performance, social performance, environmental performance and other aspects, fully reflecting Oriental Pearl TV Tower's responsibility practice path as an industry leader, focusing on its own development, industry development, and social development.
Facing the future, Oriental Pearl TV Tower will continue to strive to improve the level of corporate governance, improve the quality of the company, implement the new Securities Law, strengthen investor protection, adhere to the unity of social benefits and economic benefits, improve the ability to fulfill social responsibilities, make further progress, and make more contributions to the sustainable development of society, economy, environment and the industry!
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