The CSRC conditionally approved the restructuring plan. Conditional approval here means that it has been approved by the IEC, but it is necessary to supplement the disclosure, modify or improve the materials according to the opinions of the IEC before it can formally get the approval from the CSRC. Now all refinancing projects are basically conditionally approved.

The correlation is as follows

China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission) is a ministerial-level institution directly under the State Council. According to laws and regulations and the authorization of the State Council, it uniformly supervises and manages the national securities and futures market, maintains the order of the securities and futures market, and ensures its legal operation.

The China Securities Regulatory Commission (hereinafter referred to as the China Securities Regulatory Commission) is a specialized agency established in accordance with the relevant provisions of the People's Republic of China (PRC) Securities Law, which examines the issuer's application for issuing stocks and convertible corporate bonds and other securities recognized by the China Securities Regulatory Commission.

Reconstruction refers to the planned implementation behavior formulated and controlled by enterprises, which will significantly change the organizational form, business scope or business mode of enterprises.