The performance forecast system refers to the disclosure system formulated by the stock exchange according to the Securities Law in the Economic Law, the Administrative Measures for Information Disclosure of Listed Companies promulgated by the China Securities Regulatory Commission and the Stock Listing Rules of the stock exchange, so as to standardize the disclosure of performance forecast and promote the quality of information disclosure. Announcing the future performance in advance can buffer the excessive market reaction when the accounting report is officially released, disperse the performance risk to a certain extent, and improve the disadvantage of small and medium-sized investors due to insufficient information.

The range of companies that must publish performance forecast stipulated in the performance forecast system of each stock exchange is slightly different.

GEM listed companies must issue performance forecasts;

Companies listed on Shenzhen's main board and small and medium-sized board need to issue performance forecasts when their net profit is negative, they turn losses, their net profit changes by 50% on the basis of profit, their net assets at the end of the period are negative, and their operating income is below 6,543,800+million.

The mandatory conditions of GEM listed companies are negative net profit, turning losses, 50% change in net profit and negative net assets at the end of the period;

Companies listed on Shanghai's main board and science and technology innovation board need to issue when their net profits are negative, turn losses into losses and change by 50%.

At the same time, the performance forecast system stipulates that the contents to be published should include the forecast time, the forecast type, the range of expected net profit changes and the reasons for performance changes. In addition, listed companies that publish false performance forecasts with great differences should be punished through informed criticism, public condemnation, inclusion in the list of dishonesty, and supervision and attention should be paid to management personnel.

Classification of performance forecast system Theoretically, performance forecast system can be divided into three types, which mainly distinguish the mandatory disclosure of performance forecast by listed companies.

First, the voluntary performance forecast system, the mandatory disclosure of performance forecast does not exist, and all companies can freely choose whether to release it according to their own wishes; The second is the mandatory performance forecast system, and the performance forecast is mandatory to be disclosed100%; The third is the semi-mandatory performance forecast system between the two.