The Shanghai Stock Exchange further strengthens the management of the shareholding and changes of shares held by shareholders, directors, and senior management of listed companies.

The Shanghai Stock Exchange issued the "Shanghai Stock Exchange Listed Company Self-Discipline Supervision Guidelines No. 8 - Management of Share Changes". It mentions that before directors and senior management of listed companies buy or sell their company's shares, they should notify the company secretary in writing of their buying or selling plans. The company secretary should verify the progress of the listed company's information disclosure and major events, and if the trading behavior may violate laws and regulations, relevant regulations of the Exchange, the company's articles of association, and their commitments, the company secretary should promptly notify the relevant directors and senior management.