To further promote the high-quality development of the capital market and foster a favorable environment for improving the quality of listed companies, the following measures are formulated in accordance with relevant national and provincial documents on promoting corporate listings and enhancing the quality of listed companies, and in light of the actual conditions of this city.

　　I. Enhance the Governance of Listed Companies. Encourage listed companies to focus on their core businesses and strengthen their core operations. Strengthen corporate information disclosure, accounting standards, prevention and control of insider trading, and the standardized operation of shareholders’ meetings, boards of directors, and boards of supervisors to improve the effectiveness of corporate governance.Strengthen risk monitoring and early warning mechanisms for listed companies operating overseas, enhance their self-regulatory capabilities and ability to defend against short-selling attacks, cooperate with cross-border regulatory coordination, and safeguard the companies’ positive corporate image. Support listed companies in establishing and improving market capitalization management mechanisms to increase their market value through legitimate and compliant means such as operational improvements and innovation. Guide listed companies to actively manage investor relations, reward investors through cash dividends and share buybacks, and fulfill their social responsibilities. (Responsible Units: Xiamen Securities Regulatory Bureau, Municipal Financial Regulatory Bureau, State-owned Assets Supervision and Administration Commission)

　　II. Identify high-quality prospective listed companies. Vigorously promote innovative small and medium-sized enterprises (SMEs), such as those designated as “Specialized, Refined, Unique, and New” (SRUN), to apply for listing or going public according to their development stage, enabling them to access capital markets as early as possible. Accelerate the identification of listing resources among state-owned enterprises (SOEs), promote the concentration of high-quality state-owned resources within listed companies, and enhance the operational functions of state-owned capital. Broaden the channels for recommending provincial and municipal key prospective listed companies, and encourage institutions such as securities firms and private equity funds to recommend prospective companies.Starting in 2022, a one-time reward of 500,000 yuan will be granted to enterprises listed on the provincial or municipal key IPO candidate list that complete shareholding restructuring in the same year. A one-time reward will also be granted to candidate enterprises that convert retained earnings, capital reserves, or undistributed profits into share capital as part of their restructuring for listing. The reward standards are as follows: for capital increases of 20 million yuan or more (inclusive), a reward of 1.5 million yuan;for capital increases of 10 million yuan (inclusive) or more but less than 20 million yuan, a reward of 1 million yuan; and for capital increases of 5 million yuan (inclusive) or more but less than 10 million yuan, a reward of 500,000 yuan. (Responsible Units: Municipal Financial Regulatory Bureau, Finance Bureau, State-owned Assets Supervision and Administration Commission, Xiamen Securities Regulatory Bureau, People’s Governments of all districts, Free Trade Zone Management Committee, Torch High-Tech Zone Management Committee, Xiamen Enterprise Listing Cultivation Center)

　　III. Strengthen Targeted Services for Potential Listing Candidates. The Xiamen bases of the Shanghai and Shenzhen Stock Exchanges shall designate a monthly “Enterprise Service Day” and regularly organize activities such as “Capital Training Sessions,” “Visits to the Stock Exchange,” and visits to potential listing candidates to provide “point-to-point” policy guidance to enterprises.A database of prospective enterprises will be established to implement dynamic, tiered, and categorized management. During the restructuring and listing process, if prospective enterprises require approvals or the issuance of compliance certificates, relevant departments shall provide “green channel” treatment, assign dedicated personnel for coordination, and ensure timely completion. For common issues such as property rights, land use, finance, and labor arising from historical reasons, relevant departments shall actively explore flexible solutions based on actual circumstances.Proactively provide guidance to prospective enterprises to help them scientifically formulate capital raising and investment plans, provide local project investment lists, and encourage increased investment in local capital expansion and production. (Responsible Units: Municipal Financial Regulatory Bureau, other relevant municipal departments, Xiamen Securities Regulatory Bureau, district people’s governments, Free Trade Zone Management Committee, Torch High-Tech Zone Management Committee, Xiamen Enterprise Listing Cultivation Center)

　　IV. Reducing the Costs of Going Public for Enterprises. For different stages—such as listing on the National Equities Exchange and Quotations (NEEQ, also known as the “New Third Board”), filing for IPO guidance, and having an application accepted by the China Securities Regulatory Commission (CSRC) or a stock exchange—one-time rewards will be granted through a “no-application-required” mechanism. The reward standards are as follows: enterprises that list on the NEEQ will receive a reward of 300,000 yuan;for enterprises that file for IPO tutoring with the Xiamen Securities Regulatory Bureau, a reward of 500,000 yuan; and for enterprises that receive formal acceptance by the CSRC or a securities exchange, a reward of 1,000,000 yuan. (Responsible Units: Municipal Financial Regulatory Bureau, Finance Bureau, Xiamen Securities Regulatory Bureau)

　　V. Encouraging Enterprises to Raise Capital Through Listings. Enterprises that list on domestic or overseas securities markets in accordance with the law and invest 40% (inclusive) or more of the raised funds within the city shall receive a one-time reward based on the amount of funds raised (including the amount from initial public offerings and follow-on offerings after deducting issuance expenses; the same applies hereinafter). The reward standards are as follows: for funds raised of 1 billion yuan (inclusive) or the equivalent in foreign currency (the same applies hereinafter) or more, a reward of 1.5 million yuan;for fundraising amounts of 500 million yuan (inclusive) or more but less than 1 billion yuan, a reward of 1 million yuan; for fundraising amounts of 200 million yuan (inclusive) or more but less than 500 million yuan, a reward of 500,000 yuan; and for fundraising amounts of 50 million yuan (inclusive) or more but less than 200 million yuan, a reward of 200,000 yuan. (Responsible Units: Municipal Financial Regulatory Bureau, Municipal Finance Bureau)

　　VI. Support for Market-Oriented Mergers and Restructuring. Support listed companies in conducting mergers and restructuring to promote industry consolidation and industrial upgrading. Support listed state-owned enterprises in appropriately spinning off business segments such as real estate, injecting high-quality assets to enhance their refinancing capabilities.During asset restructuring, when enterprises transfer all or part of their tangible assets, along with associated claims, liabilities, and labor, to other entities or individuals through means such as mergers, spin-offs, sales, or exchanges, the transfer of real estate and land use rights involved shall be exempt from value-added tax in accordance with the law. (Responsible Units: Municipal Financial Regulatory Bureau, Xiamen Tax Bureau, Xiamen Securities Regulatory Bureau)

　　VII. Strengthening the Supply of High-Quality Financial Services. Support banking institutions in developing specialized financial products tailored to listed companies and pre-IPO enterprises. Fully leverage the role of government industrial investment funds to unleash their multiplier effect. Establish a project database and risk compensation mechanism to guide various private equity funds in increasing investment in pre-IPO enterprises, thereby broadening pre-IPO financing channels. Strengthen business coordination among regional equity markets, local financial holding companies, industrial investment funds, and securities firms to provide enterprises with full-chain capital market services.Guide securities firms headquartered in the city to strengthen their local investment banking teams. Upon successfully sponsoring a local enterprise’s initial public offering (IPO), a one-time reward of 500,000 yuan will be granted. (Responsible Units: Municipal Financial Regulatory Bureau, Finance Bureau, Xiamen Securities Regulatory Bureau, Xiamen Banking and Insurance Regulatory Bureau, People’s Governments of all districts, Free Trade Zone Administrative Committee, Torch Administrative Committee, Jinyuan Group)

　　VIII. Establish and Improve Talent Incentive Mechanisms. Support listed companies in implementing equity incentive plans, establishing sound long-term incentive mechanisms, and setting up employee stock ownership platforms. Encourage key technical, managerial, and operational staff to hold shares, and build a comprehensive compensation and incentive system for core management personnel to fully mobilize employees’ enthusiasm for work and entrepreneurship.One-time housing subsidies, relocation allowances, research and development start-up funds, and other expenses paid by listed companies and prospective listed companies to attract high-level talent shall be deductible from corporate income tax before taxation in accordance with the law, provided they meet the relevant requirements. (Responsible Units: Municipal Financial Regulatory Bureau, Finance Bureau, State-owned Assets Supervision and Administration Commission, Human Resources and Social Security Bureau, Xiamen Tax Bureau, Xiamen Securities Regulatory Bureau)

　　IX. Properly Addressing Prominent Issues in Listed Companies. Regulate the pledge activities of controlling shareholders and actual controllers of listed companies to prevent and mitigate pledge risks. Fully leverage the roles of relief funds and emergency loan repayment funds to alleviate liquidity issues for listed companies. Treat strategic investors in local listed companies as targets for investment promotion and provide them with necessary support.Fully implement the “zero-tolerance” policy and resolutely crack down on illegal and non-compliant activities such as fraudulent issuance, financial fraud, misappropriation of funds, and unauthorized guarantees; strengthen risk monitoring of listed companies subject to delisting risk warnings, formulate risk contingency plans in advance, and manage delisting risks in a stable manner.(Responsible Units: Xiamen Securities Regulatory Bureau; Municipal Financial Regulatory Bureau, Finance Bureau, State-owned Assets Supervision and Administration Commission, Public Security Bureau; Municipal Intermediate People’s Court, Municipal People’s Procuratorate; People’s Governments of all districts; Free Trade Zone Administrative Committee, Torch High-Tech Zone Administrative Committee)

　　X. Enhance the Efficiency of Financial Regulatory Services. Establish an information-sharing mechanism among relevant departments, financial regulatory authorities, and judicial organs; pursue legal liability for violations in the capital markets in accordance with the law; and conduct comprehensive joint crackdowns on securities, futures, and fund-related crimes. Relying on platforms such as the Xiamen Local Financial Dispute Mediation Center, the Xiamen Financial-Judicial Coordination Center, and the Xiamen International Financial Arbitration Center, strengthen the city’s capacity to resolve financial disputes in the capital markets.Urge intermediary institutions to fulfill their respective roles and responsibilities, reinforcing their accountability in all stages, including advising issuers, price discovery and positioning, risk management, and investor suitability management. Strengthen professional guidance on compliant operations for listed companies and prospective enterprises, and optimize government services. (Responsible Units: Xiamen Securities Regulatory Bureau, Municipal Intermediate People’s Court, Municipal People’s Procuratorate, Municipal Bureau of Justice, other relevant municipal departments, district people’s governments, Xiamen Arbitration Commission)

　　XI. Strengthen Organizational Leadership for Listing Work. Optimize and restructure the existing Municipal Enterprise Listing Work Leading Group by adding industry regulatory authorities as member units and incorporating listed companies and prospective enterprises into the scope of coordination and services. District People’s Governments and Administrative Committees, as the direct units responsible for enterprise tracking services, shall routinely monitor the status of listed companies and prospective enterprises, promptly identify major developments in their operations and business growth, and report such matters to the Enterprise Listing Work Leading Group.(Responsible Units: Municipal Financial Regulatory Bureau, other relevant municipal departments, district people’s governments, Free Trade Zone Administrative Committee, and Torch Administrative Committee)

　　XII. Foster a Healthy Public Opinion Environment. Leverage the role of media oversight to monitor the production, operations, and compliance of listed companies and prospective listed companies, while maintaining a zero-tolerance stance toward problematic and high-risk companies. Establish a routine mechanism to combat news blackmail and false reporting targeting listed companies, strengthen efforts to address inaccurate reports and false news regarding listed companies and prospective listed companies, and intensify crackdowns on the fabrication and dissemination of false or misleading information.Conduct training on public opinion management for enterprises to enhance their ability to respond to public sentiment, and jointly foster a favorable environment that supports the high-quality development of Xiamen-listed companies. (Responsible Units: Municipal Financial Regulatory Bureau, Xiamen Securities Regulatory Bureau, Municipal Party Committee Publicity Department, Cyberspace Administration Office, Municipal Public Security Bureau)

　　The Municipal Financial Regulatory Bureau, in conjunction with relevant departments, shall formulate guidelines for applying for support and incentives. Enterprises may enjoy both municipal and district-level listing support policies concurrently; when applying for municipal support policies of the same type, the “higher amount, no duplication” principle shall apply.

　　The Municipal Financial Regulatory Bureau is responsible for interpreting these measures.

　　These measures shall take effect on the date of issuance and remain valid for five years.