The Shanghai and Shenzhen Stock Exchanges and the China Securities Depository and Clearing Corporation announced the "Implementation Rules for Market Value Placement of New Shares".

According to the implementation details, the allotment ratio is determined based on the needs of investors in the market value allotment portion.

When the ratio is 100%, the abandoned portion of the market value placement subscription will be underwritten by the lead underwriter; when the ratio is less than 100%, a combination of placement to secondary market investors and online public issuance will be adopted.

Investors can subscribe for 1,000 new shares for every 10,000 yuan in market value of listed and tradable stocks held by Shenzhen investors. The market values ??of listed and tradable stocks held by Shenzhen investors in different business departments under the same account are combined and calculated.

When investors subscribe for new shares, they do not need to pay subscription fees in advance.

Placing offerings generally take place during regular trading hours.

Except for the stock accounts held by the fund, each stock account can only subscribe once.

Due to technical reasons, Shanghai Stock Exchange stock accounts held by securities investment funds (including open-end funds) can subscribe repeatedly according to the subscription limit. Stock accounts in Shenzhen Stock Exchange only need to subscribe once according to the market value limit held by them, but the total cumulative subscription amount must not exceed the fund's limit.

Specifies the total amount that can be purchased.

Investors in the two cities use their Shanghai and Shenzhen accounts to subscribe to the Shanghai and Shenzhen stock exchanges respectively based on the market value of the stocks they hold in the Shanghai and Shenzhen stock exchanges.

For the placement and subscription of the same new stock, the two exchanges will use their own subscription codes.

The placement code of the Shanghai Stock Exchange is "737***", the placement code of the Shenzhen Stock Exchange is "003***", and the last three codes are the same.

The implementation details specifically explain in detail how investors holding Shenzhen accounts can participate in the allotment, how new shares allocated can be listed and traded, as well as dividends and allotments.

In order to be consistent with the Shanghai Stock Exchange, investors in the Shenzhen Stock Exchange originally stipulated that investors in the Shenzhen Stock Exchange make a second declaration for the paid-in subscription part after winning the lottery. Instead, they made a declaration for the part that they gave up the subscription after winning the lottery, and the entrustment price was 0.

If no declaration is made, it will be deemed as a fully paid subscription.

Investors holding accounts in the Shenzhen Stock Exchange can only entrust the Shenzhen Stock Exchange to sell the new shares allocated.

For new shares issued through placement, cross-market transfer of custody is not required.

When the market capitalization allotment of stocks is implemented, the allotment code of the Shanghai Stock Exchange is "700***"; investors who hold the stock with a Shenzhen account shall subscribe for the allotment with the code "083***" in accordance with the relevant regulations of the Shenzhen Stock Exchange.

The equity distribution of new shares placed by market value will be consistent with the equity registration date and listing date of the rights issue, and the arrival date of cash dividends will be determined uniformly according to the rules of the Shanghai Stock Exchange.

Other specific operations will be carried out in accordance with the rules of the two cities.