些管 文/王兆寰 5月26日晚间，中国证监会有关负责人对外表示，中国证监会一直高度重视上市公司的公司治理监管，上市公司规 范发展的内生动力不断提高，规范运作水平持续提升，回报投资者意识显著增强。 下一步，中国证监会不断完善上市公司治理规则，推动出台上市公司监督管理条例，加大对组织指使造假、资金 占用等违法行为的打击力度，进一步发挥独立董事作用，鼓励机构投资者积极行使股东权利，激发公司治理内生 动力，促进上市公司健全中国特色现代企业制度，持续提升公司治理水平。 近日，中共中央办公厅、国务院办公厅公开《关于完善中国特色现代企业制度的意见》（下称"《意见》"）。 《意见》强调，要发挥资本市场对完善公司治理的推动作用。强化控股股东对公司的诚信义务，支持上市公司引 入持股比例5%以上的机构投资者作为积极股东。严格落实上市公司独立董事制度，设置独立董事占多数的审计委 员会和独立董事专门会议机制。完善上市公司治理领域信息披露制度，促进提升决策管理的科学性。 证监会有关负责人在接受记者提问时指出，上市公司是经济高质量发展的重要微观基础，是探索完善中国特色现 代企业制度的重要力量。资本市场公开透明，强化约束和激励，要求上市公司 ...

江苏苏博特新材料股份有限公司 江苏苏博特新材料股份有限公司 2024 年年度股东大会会议议程 会议召开方式：现场会议和网络投票相结合 现场会议时间：2025 年 5 月 20 日上午 9 点 30 分 现场会议地点：南京市江宁区醴泉路 118 号江苏苏博特新材料股份有限公司 会议召集人：公司董事会 会议主持人：毛良喜先生 出席人员：公司股东、董事、监事、高级管理人员、公司聘请的律师及其他 相关人员 网络投票时间：2025 年 5 月 20 日采用上海证券交易所网络投票系统，通过 交易系统投票平台的投票时间为股东大会召开当日的交易时间段，即 9:15- 日的 9:15-15:00。 现场会议开始前由工作人员统计现场与会股东及股东代表人数和所持股份 数。主持人宣布会议开始，同时报告出席现场会议的股东及股东代表人数和所持 有股份数及比例。选举现场会议监票人、记票人。 一、会议审议并表决以下事项： 投票股东类型 序号 议案名称 A 股股东 非累积投票议案 案 交易 交易 授信额度的议案 二、现场参会股东对审议内容进行记名投票表决 三、工作人员收集现场表决票 四、根据网络投票及现场计票结果，对表决情况进行汇总 五、宣读 ...

Core Viewpoint - The introduction of the new rules by the China Securities Investment Fund Industry Association marks a significant reform in China's capital market, aiming to enhance the governance of listed companies by public fund managers [1][4]. Group 1: Regulatory Framework - The new rules consist of 6 chapters and 27 articles, detailing the participation of public fund managers in corporate governance, including principles such as prioritizing the interests of fund shareholders and preventing conflicts of interest [1][2]. - The rules require fund managers to improve their internal governance frameworks, including establishing policies for participating in corporate governance and creating systems for exercising shareholder rights [2][3]. Group 2: Voting Obligations - Fund managers are mandated to exercise voting rights when their managed funds hold at least 5% of a company's circulating shares, covering thirteen key matters in shareholder meetings [3]. - The rules impose a requirement for fund managers to publicly disclose their voting activities annually, enhancing transparency and accountability [3][4]. Group 3: Market Impact - The new regulations are expected to strengthen the internal motivation of fund managers to engage in corporate governance, aligning more closely with practices in mature markets [4][5]. - The expansion of public funds, which have grown from 7 trillion yuan to 8.3 trillion yuan since September of the previous year, indicates an increasing influence of these funds in corporate governance [3][4].

再次，该书逻辑清晰，层次分明，其中的履职建议具有较强的可操作性。 中国上市公司协会会长宋志平荐书 刘运宏博士的新著《上市公司治理的理论与实践：怎样做一个合格的上市公司董监高》紧紧围绕上市公 司治理规则与制度，以及上市公司董监高怎样遵守这些规则从而避免处罚（分）的主题展开介绍，分析 了上市公司各治理主体共同的履职规范和分类项下各治理主体的履职行为，是上市公司控股股东、实际 控制人、董事、监事和高级管理人员规避履职"红线"进而实现规范发展的一本很实用的"履职手册"。总 结起来，该书具有如下特点： 首先，全面研究分析了上市公司各治理主体应遵守的规则与制度，内容具有前沿性。 随着我国证券市场改革发展的不断深入，上市公司治理的规则与制度也在不断修订完善中。该书以公司 治理的理论与实践为主线，针对上市公司治理中存在的问题及其改革措施，以及改革背景下的各上市公 司治理主体履职行为作全面的研究分析，内容上具有全面性与前沿性。 其次，对上市公司治理与制度研究的国际化视野决定了该书制度完善建议内容的科学性与包容性。 该书对上市公司治理理论和制度设计的研究与分析是在提炼并比较世界各国公司治理制度与机制的基础 上，结合中国上市公司治 ...

Core Viewpoint - The Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) have revised their stock listing rules to enhance corporate governance, protect minority investors, and align with the new Company Law and related regulations [1][2][3]. Group 1: Key Revisions in Stock Listing Rules - The revisions clarify the responsibilities and operational mechanisms of the audit committee, including its powers and duties [2][3]. - There is a strengthened framework for the responsibilities of directors and senior management, as well as regulations for controlling shareholders and actual controllers [2][3]. - The rights of shareholders, particularly minority shareholders, are better protected, including the right to propose temporary motions and clearer requirements for related party transactions [2][3]. - The rules also implement bankruptcy reorganization provisions and optimize disclosure requirements regarding reorganization progress [2][3]. Group 2: Implementation and Future Steps - The SSE and SZSE will continue to work under the guidance of the China Securities Regulatory Commission (CSRC) to enhance the quality of listed companies and promote high-quality development in the capital market [2][3]. - The Beijing Stock Exchange (BSE) has also published its stock listing rules, focusing on the implementation of the new Company Law and related requirements [4][5]. - The BSE has engaged with market participants to refine its rules and will continue to provide guidance to listed companies for compliance with the new regulations by January 1, 2026 [5].

Core Viewpoint - The article emphasizes the need for further international integration of China's capital market, suggesting improvements in corporate governance and enhanced foreign investment mechanisms to create a more attractive investment environment [2][4]. Group 1: Recommendations for Capital Market Development - The company proposes three key recommendations to accelerate capital market development: 1. Strengthening shareholder returns by increasing the assessment of free cash flow and using Return on Invested Capital (ROIC) as a key metric for investment decisions [8]. 2. Implementing a long-term capital assessment mechanism to attract long-term funds and enhance the market's value discovery function [8]. 3. Enhancing information disclosure for foreign investors, including improving English disclosures and increasing overseas roadshow activities [8]. Group 2: Context of the Recommendations - The recommendations are presented in the context of the ongoing "14th Five-Year Plan" and the recent meetings of the National People's Congress and the Chinese People's Political Consultative Conference, highlighting the importance of these discussions for the future of China's capital market [4][11]. Group 3: Role of Nomura Orient International Securities - As one of the first foreign-controlled securities firms following the financial opening policies in 2018, the company positions itself as both a beneficiary and a contributor to the ongoing reforms in China's capital market [2].