证监会发布上市公司信披暂缓与豁免管理规定 对滥用制度甚至从事内幕交易、操纵市场等违规行为，将依法严肃处理

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has released new regulations regarding the temporary suspension and exemption of information disclosure for listed companies, aiming to clarify the types of information that can be exempted and the methods for doing so [1][2]. Group 1: Types of Exemptions - The regulations categorize exempted information into two main types: national secrets and commercial secrets [1]. - National secrets are exempted without additional conditions, while commercial secrets have specific conditions to prevent misuse [1]. Group 2: Methods of Exemption - Three methods for exemption are outlined: 1. Temporary suspension of disclosure until the reason for delay is resolved 2. Automatic exemption from disclosing the entire temporary report 3. Disclosure of reports using aliases, summaries, or omission of key information [1]. Group 3: Company Responsibilities - Companies are required to establish a disclosure exemption system, define internal review processes, and manage the registration of exempted disclosures [2]. - Companies must not leak confidential information or use confidentiality as a promotional tool [2]. Group 4: External Regulatory Constraints - Companies must regularly submit registration materials to local CSRC offices and stock exchanges for oversight [2]. - Violations, such as failing to establish proper exemption systems or misusing the exemption, will result in severe legal consequences [2].