Chapter I General Provisions
Article 1 To guide enterprises throughout the district in undergoing shareholding system reforms, accelerate the pace of listing and registration, expedite the development of a multi-tiered capital market system in our district, encourage enterprises to achieve resource optimization and institutional innovation through the capital market, further enhance enterprises’ core competitiveness and sustainable development capabilities, promote the growth and expansion of a group of high-quality enterprises through the capital market, and boost the endogenous momentum of economic development, in accordance with the “Opinions of the People’s Government of Anhui Province on Promoting Steady and Healthy Economic Development” (Wan Zheng [2017] No. 42),the “Implementation Opinions of the People’s Government of Anhui Province on Issuing the Four Support Systems for Innovative Development” (Wan Zheng [2017] No. 76), and the “Several Policy Provisions of Huangshan City on Incentivizing Enterprise Listings and Direct Financing” (Huang Zheng Ban [2021] No. 2), these Measures are hereby formulated.
Article 2 These Measures apply to enterprises registered and established in our district that have (or intend to) completed an initial public offering (IPO) on the Shanghai, Shenzhen, or Hong Kong stock exchanges, or have been listed on the National Equities Exchange and Quotations (NEEQ, also known as the “New Third Board”) or the Anhui Equity Custody and Trading Center, as well as enterprises engaged in equity-based investment and financing.
The Financial Affairs Office of the District Government serves as the competent authority for enterprise listings and is responsible for the implementation of these Measures.
Chapter II Financial Incentive Policies for Listed Enterprises
Article 3 A fiscal incentive policy shall be implemented for enterprises that have listed or are planning to list, or that have been listed or are planning to be listed.
The District Finance Bureau shall allocate special funds for enterprise listing rewards and subsidies in the annual budget.
1. Enterprises listing for the first time on the Shanghai, Shenzhen, or Hong Kong stock exchanges shall receive a reward of 3.5 million yuan. The reward shall be disbursed in four stages, as follows: 500,000 yuan upon signing a cooperation agreement for an initial public offering (IPO) on the Shanghai or Shenzhen Stock Exchanges with intermediaries such as securities firms and completing the enterprise’s shareholding system reform in accordance with capital market requirements; 500,000 yuan upon acceptance of the application for guidance filing with the Provincial Securities Regulatory Bureau; 1.5 million yuan upon acceptance by the China Securities Regulatory Commission (CSRC) or the Shanghai or Shenzhen Stock Exchanges; and 1 million yuan upon successful listing.
A one-time reward of 3.5 million yuan will be granted upon listing on the Hong Kong Stock Exchange.
For enterprises listed on the “New Third Board” that transfer to a main board, the district government will supplement the 3.5 million yuan reward in accordance with the standards for listed companies.
2. For enterprises listed on the Basic Layer and Innovation Layer of the “New Third Board,” the district government will provide a 750,000 yuan reward in three stages, as follows: a 200,000 yuan reward for signing a cooperation agreement with securities firms or other intermediaries and completing the enterprise’s shareholding restructuring in accordance with capital market requirements; a 250,000 yuan reward upon acceptance by the National Equities Exchange and Quotations (NEEQ) and issuance of a notice of acceptance; and a 300,000 yuan reward upon successful listing.
For enterprises listed on the “Innovation Tier” of the “New Third Board” that transition to the “Selected Tier” and conduct a public offering of shares, the district government will provide an additional 1 million yuan in rewards.
For companies already listed on the “New Third Board,” a subsidy of 150,000 yuan per year for ongoing supervision expenses will be provided for three years.
3. Enterprises that, following standardized shareholding restructuring, list on the Science and Technology Innovation Board’s Select Tier, Growth Board, or other sections of the Anhui Equity Exchange Center will receive a one-time grant of 200,000 yuan.
For companies listed on other non-equity restructuring segments of the Anhui Equity Exchange Center, a one-time grant of 30,000 yuan will be provided.
4. Listed enterprises that attract private equity investment or conduct equity financing through over-the-counter markets such as the NEEQ and the Anhui Equity Exchange and Custody Center shall receive a reward from the district government equivalent to 1% of the initial equity financing amount, with the reward for a single enterprise not exceeding 700,000 yuan. For private placements by listed companies, a reward of 1% of the financing amount shall be granted to the enterprise; the enterprise may allocate 50% of the reward funds to senior executives, with the maximum reward per private placement not exceeding 1 million yuan.
Chapter III Support Policies for Local Contributions
Article 4: Support policies for the local contribution portion of pre-IPO and listed (or pre-listed) enterprises shall be implemented.
1. For enterprises undergoing regulatory restructuring, reorganization, or conversion into joint-stock companies in preparation for listing or listing on a trading platform, where non-monetary assets are contributed as equity investments to participate in the recipient’s profit distribution and share investment risks with the recipient; and for national high-tech enterprises converting undistributed profits, retained earnings, or capital reserves into share capital for individual shareholders, the district government shall provide a 100% reward for the local contribution portion of individual income tax paid in accordance with relevant regulations.If an enterprise faces difficulties in making a one-time payment of individual income tax and meets the requirements of relevant tax policies, it may pay in installments over a period of five years. For high-tech enterprises nationwide that convert scientific and technological achievements and grant equity rewards to relevant technical personnel of the enterprise, if an individual faces difficulties in making a one-time tax payment, they may formulate a five-year installment payment plan based on actual circumstances and file it with the tax authorities for record.
2. During the process of standardized shareholding restructuring for enterprise listings or stock exchange listings, provided there is no change in the actual controller, the district government will provide a 100% reward for the local portion of taxes actually paid on the transfer of assets (including land, real estate, vehicles, vessels, and equity) involving changes in equity interests, as well as for the increase in the local portion of taxes resulting from adjustments to historical operating indicators that boost revenue and profits (excluding VAT).
3. A five-year support policy will be implemented for enterprises that have completed standardized equity restructuring and are listed on the Shanghai or Shenzhen Stock Exchanges. The higher of the following two figures—the actual taxes paid in the year prior to the enterprise’s equity restructuring (referring solely to corporate income tax and VAT; the same applies hereinafter) or the average of actual taxes paid over the preceding three years—will serve as the base figure. Starting from the year of the enterprise’s listing or trading, the district government will provide a 100% reward for the first two years and a 50% reward for the subsequent three years on the portion of local tax revenue exceeding this base figure.
4. Various financial institutions, asset management companies, private equity funds, and other forms of social capital are encouraged to establish funds dedicated to supporting the shareholding reform and listing of local enterprises in Huizhou District. Funds established in Huizhou District shall, upon approval by the District Government, be treated as district-level investment promotion projects and enjoy relevant preferential policies.
Chapter IV: Management of the Fiscal Incentive System
Article 5 The District Development and Reform, Finance, Science and Technology, Economy and Information Technology, Agriculture and Rural Affairs, and Culture, Tourism, and Sports departments shall give priority to arranging or applying for various policy-based support funds from the national, provincial, and municipal levels for enterprises applying for listing or registration; they shall also give priority to recommending such enterprises to the national, provincial, and municipal authorities for qualifications such as high-tech enterprises, technology innovation enterprises, and strategic emerging industry enterprises.
Article 6 A fee reduction and exemption support policy shall be implemented for enterprises intending to go public or list on a stock exchange. For enterprises that have converted to joint-stock companies and intend to go public or list on a stock exchange, where property rights changes are involved, the District Market Regulation, Taxation, Public Security, Finance, Natural Resources and Planning, Transportation, and Housing and Urban-Rural Development departments shall treat such matters as non-transactional activities and charge only administrative fees.
Article 7: For enterprises that have signed listing agreements with securities firms and other intermediaries and have completed standardized shareholding restructuring in accordance with capital market requirements, if they face temporary difficulties in working capital turnover due to production and operations, the District Guarantee Company may, within the financing guarantee limit per enterprise and in accordance with the operational procedures of the District Policy-Based Financing Guarantee Company, continue to provide credit enhancement support for financing guarantees to enterprises planning an initial public offering (IPO) of up to 10 million yuan,up to 5 million yuan for enterprises intending to list on the National Equities Exchange and Quotations (NEEQ), and up to 2 million yuan for enterprises intending to list on the Provincial Equity Exchange Center following standardized shareholding restructuring. The annualized guarantee fee rate shall be 0.5%–1%.
Article 8: Enterprises and institutions intending to go public that apply for incentive and subsidy policies shall file a report with the District Government’s Financial Affairs Office within 15 days of signing a formal cooperation agreement. After completing phased tasks, they shall provide relevant written supporting materials. Upon review by the District Government’s Financial Affairs Office and submission of a recommendation for incentives and subsidies to the District Government for approval, the funds will be disbursed to the enterprise.If an enterprise terminates its listing or registration process after receiving the first round of incentive subsidies and tax preferential support policies, the district’s listing authority shall recover all incentive funds in a timely manner in accordance with the law. If an enterprise obtains or assists others in obtaining the aforementioned incentive subsidies through fraudulent means, the District Government Financial Office, in conjunction with the finance department, shall recover the full amount of the incentive funds in a timely manner in accordance with the law and revoke the enterprise’s eligibility to apply for any form of government support for a period of five years.
Chapter V Supplementary Provisions
Article 9 The Financial Office of the District Government shall be responsible for interpreting these Measures, which shall take effect from the date of issuance. The “Several Policy Provisions on Incentives for Enterprise Listing in Huizhou District (Revised)” (Huizhou Government Office Document [2020] No. 12) is hereby repealed.
Article 10: Where a single matter qualifies for awards and subsidies at different levels, such benefits may be enjoyed cumulatively. Where multiple or repeated district-level awards and subsidies are involved, the principle of “taking the higher amount and avoiding duplication” shall apply.
