On September 17, the Hebei Securities Regulatory Bureau disclosed the latest issue of the “Hebei Listed Companies Regulatory Newsletter”. In the Regulatory Requirements section, listed companies are required to disclose government subsidy information in strict accordance with regulations. Recently, some listed companies have disclosed government subsidy information that is not in compliance, and some listed companies have misclassified government payments that do not meet the “pro bono” principle as government subsidies, which has attracted some attention. Listed companies shall determine the scope of government subsidies in accordance with the provisions of “Accounting Standard for Enterprises No. 16 - Government Subsidies”, and disclose government subsidy information in regular reports in strict accordance with the requirements of “Publicly Issued Securities Company Information Disclosure Rules No. 15 - General Provisions on Financial Reporting” and “Explanatory Notice No. 1 for Publicly Issued Securities - Non-Recurring Profit and Loss”. For single major government subsidies, disclose temporary reports in the form of exchange announcements. Where the conditions for exemption or suspension of information disclosure are met, the information disclosure exemption or suspension shall be implemented in accordance with the regulations. Government subsidy information must not be excessively disclosed to gain market attention, and false disclosure of government subsidy information must not be misdisclosed to defraud the market's trust.

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