沪深交易所明确！IPO企业内部监督机构调整迎最新时间表

Core Viewpoint - The article discusses the recent clarifications regarding the governance requirements for IPO companies, particularly the adjustments to internal supervisory structures in response to new regulations, emphasizing the transition from supervisory boards to audit committees [2][3][4]. Summary by Sections Governance Requirements - Several listed companies have announced the cancellation of supervisory boards, transferring their functions to the audit committee of the board of directors, in compliance with the new Company Law and the CSRC's guidelines [2]. - The exchanges have set a deadline of January 1, 2026, for companies to complete these adjustments, with a focus on ensuring that companies meet governance standards post-listing [3][4]. Transition Period Arrangements - The exchanges have differentiated requirements for two categories of IPO companies: those currently under review expected to list this year can adjust their internal supervisory structures during the review process, while new applications or those still under review after January 1, 2026, must complete adjustments before listing [3][4]. Documentation Requirements - The exchanges have specified that IPO companies must submit an internal supervisory adjustment plan if they still have a supervisory board or supervisors after January 1, 2026, ensuring compliance before their initial public offering [5][6]. Market Response - Many IPO companies have already begun the process of adjusting their internal supervisory structures, with several companies having canceled their supervisory boards and established audit committees in their recent filings [7][8]. - A review of the registration documents shows that some companies have already adopted audit committees, while others plan to adjust their governance structures by the end of 2025 [8].