Core Points - The document outlines the information disclosure management measures for Hebei Fucheng Wufeng Food Co., Ltd, aiming to ensure that the company and its information disclosure obligors fulfill their obligations in a legal, truthful, accurate, complete, and timely manner to protect investors' rights [1][2][3] Group 1: Information Disclosure Obligations - Information disclosure obligors include the company, its directors, senior management, shareholders, actual controllers, acquirers, and other relevant parties [2][3] - Information must be disclosed simultaneously to all investors and should not be leaked to any individual or organization prior to public disclosure [2][3] - The company must ensure that disclosed information is true, accurate, complete, and easy to understand, avoiding any misleading statements or omissions [2][3][4] Group 2: Types of Reports - The company is required to disclose periodic reports, including annual reports, interim reports, and quarterly reports, which must contain significant information affecting investors' decisions [6][12] - Annual reports must be completed and disclosed within four months after the end of the accounting year, while interim reports should be disclosed within two months after the first half of the year [6][12] - The content of the annual report includes basic company information, major accounting data, stock and bond issuance, and changes in shareholder structure [14][15] Group 3: Temporary Reports - The company must immediately disclose any significant events that could impact the trading price of its securities, including major asset transactions, changes in control, or legal issues [23][24] - Significant events must be disclosed as soon as the board of directors makes a decision or when relevant parties sign agreements [25][26] Group 4: Internal Control and Responsibilities - The board of directors and the board secretary are responsible for managing information disclosure, ensuring compliance with legal and regulatory requirements [20][21] - The company must implement internal controls to ensure the accuracy and confidentiality of financial information before disclosure [28][29] - Any violations of disclosure obligations by directors or senior management can lead to disciplinary actions, including fines or dismissal [59][60]

Market Overview - On May 23, 2025, A-shares saw a collective decline with the Shanghai Composite Index closing at 3348.37 points, the Shenzhen Component Index at 10132.41 points, and the ChiNext Index at 2021.50 points. A total of 1107 stocks rose while 4204 stocks fell, with a total trading volume of 11555.89 billion yuan [1] - Hong Kong stocks showed mixed results on the same day, with the Hang Seng Index rising by 0.24% to 23601.26 points and a total trading volume of 2036.71 billion HKD. The Hang Seng Index increased by 1.1% over the week, while the Hang Seng Tech Index fell by 0.65% [1] - US stocks experienced fluctuations with the S&P 500 Index down by 0.67% to 5802.82 points, the Nasdaq Composite Index down by 1% to 18737.21 points, and the Dow Jones Industrial Average down by 0.61% to 41603.07 points. For the week, the S&P 500 Index fell by 2.61% [1] New Stock Offerings - On May 26, 2025, there was one new stock available for subscription, with no new stocks listed [2] - The new stock, Youyou Green Energy, has a subscription code of 301590 and an issue price of 89.6 yuan per share, with a price-to-earnings ratio of 15.37. The company specializes in EV full-scene direct current fast charging solutions and core charging components [4] Regulatory Developments - The Financial Regulatory Bureau is drafting a new regulation aimed at achieving "three clears" for asset management products of banks and insurance institutions. The draft includes comprehensive norms for the entire lifecycle of asset management products, focusing on information disclosure [5][6] - The draft regulation emphasizes clear product descriptions, accurate performance reporting, and transparent fee disclosures at various stages of the product lifecycle [6] - The State Administration for Market Regulation is seeking public opinion on a guideline to standardize the charging behaviors of online trading platforms, ensuring fair practices and protecting the rights of platform operators [6] Financial Information Management - The National Internet Information Office is actively addressing online financial information irregularities, resulting in the closure of several accounts that disseminated false information or engaged in illegal stock recommendations [7]

Core Viewpoint - The National Financial Regulatory Administration has released a draft of the "Management Measures for Information Disclosure of Asset Management Products by Banking and Insurance Institutions," aiming to standardize information disclosure for asset management products and enhance investor protection [1][4]. Group 1: Regulatory Framework - The draft consists of six chapters and thirty-five articles, covering the entire lifecycle of asset management products, including fundraising, ongoing management, and termination [4][5]. - It establishes a "1+3" information disclosure rule system, addressing the need for a unified regulatory framework for asset management products [5][6]. Group 2: Disclosure Requirements - In the fundraising phase, the draft specifies requirements for product prospectuses, contracts, risk disclosure documents, custody agreements, and issuance announcements, ensuring clarity in product sales [5][6]. - During the ongoing management phase, it mandates accurate and comprehensive reporting of past performance and timely disclosure of significant events, clarifying product risks [5][6]. - For the termination phase, it requires disclosure of fee structures and profit distribution in expiration announcements and liquidation reports, ensuring transparency in product returns [5][6]. Group 3: Specific Prohibitions - The draft outlines eight prohibited behaviors in information disclosure, including false records, misleading statements, and exaggerated past performance [6][7]. - It emphasizes that performance benchmarks should not be presented as expected returns and must be clearly explained to investors [6][7]. Group 4: Implementation Timeline - The draft is expected to be implemented approximately six months after its formal release, allowing banking and insurance institutions to adjust product documentation and systems accordingly [8].

5月23日，金融监管总局就《银行保险机构资产管理产品信息披露管理办法（征求意见稿）》（以下简称 《办法》）公开征求意见。 金融监管总局有管司局负责人强调，《办法》按照资管产品生命周期，对募集、存续、终止各环节进行全面规 范，引导行业将信息披露融入业务全过程，实现产品情况"三清"：一是让产品销售"看得清"，二是让产品风 险"厘得清"，三是让产品收益"算得清"。 规范三类资管产品信披行为 起草《办法》是为了规范资产管理信托产品、理财产品、保险资管产品的信息披露行为，推动同类业务实施统 一监管标准，强化投资者合法权益保护。 "当前，资产管理信托产品、理财产品、保险资管产品均无专门的信息披露监管制度，现行要求分散在不同制 度中，存在标准不完全一致等问题，亟需构建适合三类资管产品特点的信息披露制度，统一监管规则，强化信 息披露行为监管。"金融监管总局有关司局负责人指出。 具体来看，《办法》包括总则、资产管理产品信息披露的一般规定、资产管理产品信息披露要求、资产管理产 品信息披露的内部管理、监督管理和法律责任和附则六章内容。对资产管理信托产品、理财产品、保险资管产 品的信息披露行为进行了系统规范，全面覆盖产品募集、存续、 ...

Core Viewpoint - The Financial Regulatory Administration has released a draft for public consultation regarding the "Management Measures for Information Disclosure of Asset Management Products by Banking and Insurance Institutions," aiming to standardize information disclosure across various asset management products throughout their lifecycle [1][2]. Group 1: General Regulations - The draft includes six chapters covering general provisions, information disclosure requirements, internal management, supervision, legal responsibilities, and appendices [1]. - It systematically regulates the information disclosure behavior of asset management trust products, wealth management products, and insurance asset management products, covering all stages: fundraising, existence, and termination [1][2]. Group 2: Information Disclosure Requirements - The draft specifies disclosure channels, responsibilities, methods, prohibited behaviors, and document requirements in the general provisions [1]. - It categorizes information disclosure into four sections: fundraising information, periodic information, temporary information, and termination information, ensuring comprehensive regulation of the entire lifecycle of asset management products [1]. Group 3: Specific Disclosure Content - Specific regulations are provided for product prospectuses or contracts, performance benchmarks, issuance announcements (or reports), periodic reports, periodic net value disclosures, past performance, and both pre- and post-termination disclosures, including maturity liquidation reports [1]. - The draft emphasizes the need for clear and accurate disclosures at each stage, ensuring that product sales, risks, and returns are transparent and understandable [2].

登录新浪财经APP 搜索【信披】查看更多考评等级 青海监管局警示函的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 青海春天药用资源科技股份有限公司（以下简称"公司"）于2025年5月23日收到中国证券监督管理委员 会青海监管局青证监措施字[2025]1号《关于对青海春天药用资源科技股份有限公司采取责令改正、对 张雪峰、肖融、王林、陈定出具警示函措施的决定》，现将内容公告如下： "青海春天药用资源科技股份有限公司、张雪峰、肖融、王林、陈定： 宜宾听花酒业发展有限责任公司(以下简称宜宾听花)为青海春天药用资源科技股份有限公司(以下简称青 海春天)酒水产品的生产商，青海春天向宜宾听花预付款项，采购其产品对外销售。经查，青海春天控 股股东西藏荣恩科技有限公司(以下简称西藏荣恩)能够对宜宾听花实施重大影响，宜宾听花构成青海春 天关联法人。青海春天未披露与宜宾听花的关联关系、关联交易情况，也未及时履行关联交易审议程 序。 青海春天上述行为违反了《上市公司信息披露管理办法》(证监会令第40号)第二条、第四十八条和《上 市公司信息披露 ...

Core Viewpoint - The Financial Regulatory Bureau is drafting a management method for information disclosure of asset management products in banking and insurance sectors to establish unified regulatory standards and enhance investor protection [1][2]. Group 1: Information Disclosure Management - The proposed method aims to standardize information disclosure for asset management trust products, wealth management products, and insurance asset management products, addressing the lack of a dedicated disclosure regulation [1][3]. - The method will regulate the entire lifecycle of asset management products, including fundraising, ongoing management, and termination, ensuring clarity in product information [1][2]. Group 2: Specific Requirements - During the fundraising phase, the method will specify requirements for product documentation, including performance benchmarks, to ensure transparency in product sales [2][3]. - In the ongoing management phase, it mandates accurate and comprehensive reporting of past performance and timely disclosure of significant events to clarify product risks [2][3]. - For the termination phase, it requires disclosure of fees and profit distribution in the final announcements and liquidation reports to ensure clarity in product returns [2][3]. Group 3: Performance Benchmark Disclosure - The method allows asset management products to not disclose performance benchmarks, providing flexibility to managers and avoiding unnecessary formalism [2][3]. - For products that do disclose performance benchmarks, strict requirements will be set to ensure that the benchmarks are relevant and accurately reflect the investment strategy and underlying assets [3][4]. Group 4: Regulatory Consistency - The method emphasizes a unified standard for information disclosure across the three types of products, enhancing regulatory consistency while respecting the unique characteristics of each product type [3][4]. - It distinguishes between public and private products, imposing stricter disclosure requirements on public products to enhance transparency for less knowledgeable investors [4][5].

Core Viewpoint - The Financial Regulatory Bureau has released a draft regulation aimed at enhancing transparency and protecting investors' rights in the asset management industry through comprehensive information disclosure across the product lifecycle [1][3][7]. Group 1: Regulation Overview - The draft regulation, titled "Management Measures for Information Disclosure of Asset Management Products by Banking and Insurance Institutions (Draft for Comments)," covers asset management trust products, wealth management products, and insurance asset management products [4]. - It consists of six chapters and thirty-five articles, systematically regulating information disclosure during the fundraising, ongoing management, and termination phases of asset management products [4][5]. Group 2: Information Disclosure Requirements - The regulation emphasizes the need for clear and transparent information, ensuring that investors can access and understand product details, risks, and returns [3][5]. - It specifies that performance benchmarks do not represent expected returns and must be clearly communicated to investors [5][6]. - Regular reports must include details such as product size, leverage, net asset value, and performance metrics, tailored to the type of asset management product [6]. Group 3: Industry Impact - The regulation aims to unify disclosure standards, reduce regulatory arbitrage, and enhance market transparency, ultimately protecting investors and promoting compliance among institutions [8]. - While the initial implementation may increase compliance costs for institutions, it is expected to improve the competitiveness and credibility of asset management businesses in the long run [8][7]. - The draft regulation is set to be finalized and implemented approximately six months after its official release, allowing institutions time to adjust [7].

Core Viewpoint - The Financial Regulatory Bureau has released a draft for public consultation on the "Management Measures for Information Disclosure of Asset Management Products by Banking and Insurance Institutions," aiming to standardize information disclosure for asset management trust products, wealth management products, and insurance asset management products, thereby enhancing investor protection [1][2]. Group 1: Regulatory Framework - The draft includes six chapters covering general provisions, disclosure requirements, internal management, supervision, legal responsibilities, and appendices, systematically regulating the information disclosure behavior of asset management products throughout their lifecycle [2][4]. - The draft aims to unify regulatory standards for similar businesses, addressing the current lack of a dedicated information disclosure regulatory system for asset management products [2][6]. Group 2: Disclosure Requirements - The draft specifies disclosure channels, responsibilities, methods, prohibited behaviors, and text requirements for asset management products, emphasizing the need for consistent disclosure channels [3][4]. - It mandates that public products must disclose information through a platform recognized by the National Financial Supervision Administration, while private products should disclose through agreed channels with investors [3][4]. Group 3: Performance Benchmarking - The draft outlines detailed requirements for performance benchmarking, including the necessity to clarify the relationship between the benchmark and investment strategies, underlying assets, and market performance [5][6]. - It states that if a performance benchmark is disclosed, it must be accompanied by a clear warning that it does not represent expected returns or guarantees on future performance [5][6]. Group 4: Transition Period - The implementation of the draft is expected to have a six-month transition period to allow banking and insurance institutions to adjust product documentation and systems accordingly [6]. - The draft distinguishes between public and private products, with stricter disclosure requirements for public products to enhance transparency, while allowing more flexibility for private products based on contractual agreements [6].

让产品销售"看得清"，让产品风险"厘得清"，让产品收益"算得清"。 5月23日，金融监管总局就《银行保险机构资产管理产品信息披露管理办法（征求意见稿）》（以下简称《办 法》）公开征求意见。 规范三类资管产品信披行为 起草《办法》是为了规范资产管理信托产品、理财产品、保险资管产品的信息披露行为，推动同类业务实施统 一监管标准，强化投资者合法权益保护。 "当前，资产管理信托产品、理财产品、保险资管产品均无专门的信息披露监管制度，现行要求分散在不同制 度中，存在标准不完全一致等问题，亟需构建适合三类资管产品特点的信息披露制度，统一监管规则，强化信 息披露行为监管。"金融监管总局有关司局负责人指出。 具体来看，《办法》包括总则、资产管理产品信息披露的一般规定、资产管理产品信息披露要求、资产管理产 品信息披露的内部管理、监督管理和法律责任以及附则六章内容。对资产管理信托产品、理财产品、保险资管 产品的信息披露行为进行了系统规范，全面覆盖产品募集、存续、终止各环节。 明确资管产品信披的禁止行为 在"资产管理产品信息披露的一般规定"章节中，《办法》明确了信息披露渠道、责任、方式、禁止行为和文本 要求。 一直以来，资管产品就 ...