Shanghai Stock Exchange introduces new simplified restructuring review process, two types of companies expected to benefit.

On May 16, the Shanghai Stock Exchange revised and released the "Shanghai Stock Exchange Listed Company Major Asset Restructuring Review Rules" and supporting operation guidelines, which is another important measure in implementing the new "Nine Articles on State-owned Enterprises" and "Six Articles on Mergers and Acquisitions". The newly revised "Restructuring Review Rules" have established a simplified review procedure, which significantly simplifies the review process, shortens the review period, and improves the efficiency of the restructuring process for listed companies that meet the criteria for stock-type restructuring. It is worth mentioning that the scope of application of the simplified review procedure includes two types of transactions: one is the stock absorption and merger between listed companies, and the other is high-quality companies with a market value of over 100 billion yuan and a two-year consecutive A-grade information disclosure quality evaluation, issuing shares to purchase assets without constituting a major asset restructuring.