To further encourage and support enterprises in going public (or listing on stock exchanges) and to enhance their enthusiasm for raising capital directly through the capital markets, in accordance with the “Notice of the People’s Government of the Guangxi Zhuang Autonomous Region on Issuing Several Measures to Accelerate the Construction of a Financial Open Portal Facing ASEAN” (Gui Zheng Fa [2020] No. 19) andthe "Opinions of the General Office of the People’s Government of the Guangxi Zhuang Autonomous Region on Accelerating the High-Quality Development of the Guangxi Capital Market" (Gui Zheng Ban Fa [2021] No. 4), and in light of the actual conditions of our city, the following measures are hereby formulated.

I. Encouraging Enterprises to Undergo Shareholding System Reform

For prospective enterprises planning to list (or be listed) domestically that have completed shareholding restructuring and registered for listing guidance with the Guangxi Securities Regulatory Bureau, the municipal government will provide a one-time subsidy of 500,000 yuan for restructuring expenses.

II. Encouraging Enterprises to Raise Capital Through Listing

(1) Listing Incentives

1. For enterprises intending to go public whose initial public offering (IPO) application materials have been formally accepted by the listing approval or registration authorities, the municipal government will provide a one-time financial reward of 2 million yuan.

2. For enterprises that successfully complete an IPO (Initial Public Offering) on domestic or overseas stock exchanges, the municipal government will provide a one-time reward of 3 million yuan.

(2) Rewards for Listed Enterprises Investing Raised Funds in Our City

Listed enterprises that invest more than 60% of the funds raised in the capital markets within the city will receive a financial reward equivalent to 0.05% of their investment amount in Yuxi.

III. Incentives for Enterprises Listing on the New Third Board

(I) Listing Incentives

1. Enterprises intending to list on the National Equities Exchange and Quotations (NEEQ) may apply for a one-time reward of 300,000 yuan once their application materials are accepted by the NEEQ.

2. Enterprises that successfully list on the NEEQ will receive a one-time reward of up to 700,000 yuan, with 700,000 yuan awarded for listing on the Innovation Tier and 500,000 yuan for listing on the Basic Tier.

(2) Tier Upgrade Incentives

1. Enterprises listed on the NEEQ that advance from the Basic Tier to the Innovation Tier will receive a reward of 200,000 yuan.

For the above NEEQ listing and financing incentives, rewards for enterprises under municipal jurisdiction shall be funded by the municipal government; for enterprises under county (city, district) jurisdiction, 50% of the reward shall be funded by the municipal government and 50% by the county (city, district) government where the enterprise is located.

2. NEEQ-listed enterprises that go public on domestic or overseas stock exchanges may receive listing incentives in accordance with the aforementioned regulations.

IV. Encouraging Enterprises to Utilize Equity and Debt Instruments

(1) Refinancing Incentives

1. Listed enterprises within Yulin City that conduct refinancing through equity financing methods such as additional public offerings or rights issues shall be granted a reward equivalent to 0.1% of the financing amount, with a maximum annual reward of 1 million yuan per enterprise.

2. Listed enterprises within Yulin City that conduct refinancing through equity financing methods such as private placements or rights issues on the National Equities Exchange and Quotations (NEEQ) shall be granted a reward equivalent to 0.1% of the financing amount, with a maximum annual reward of 1 million yuan per enterprise.

(II) Subsidies for Corporate Bond Issuance and Asset-Backed Securities

For enterprises within Yulin City that raise funds by issuing corporate credit bonds, asset-backed securities, REITs, and other products through the bond markets of the Shanghai and Shenzhen Stock Exchanges or the interbank bond market, as well as through public bond offerings on recognized overseas bond exchanges, a subsidy of 50% of the actual intermediary fees paid shall be provided, with the maximum subsidy per enterprise per product type not exceeding 800,000 yuan;For enterprises issuing green or poverty alleviation debt financing instruments or asset-backed securities, the subsidy amount per enterprise per product category shall not exceed 1 million yuan.

V. Encouraging Intermediaries to Provide Listing Services

Securities service institutions are encouraged to establish a presence in Yulin and provide high-quality professional services. For securities institutions with a branch office in Yulin, the municipal government will provide a one-time reward of 500,000 yuan upon the successful listing of an enterprise they have served.

VI. Strengthening Support for Listed and Pre-IPO Enterprises

(1) Strengthening Support for Enterprises Intending to List (or Be Listed)

1. Enterprises in Yulin with potential for listing (hereinafter collectively referred to as “prospective listed enterprises”) shall enjoy the rights stipulated in relevant documents issued by the autonomous region and Yulin City.

2. Issues encountered by pre-IPO (pre-listing) enterprises during the restructuring and listing process—including land transfer fees, taxes, changes to permits, reissuance of permits, assumption of loans, and the issuance of relevant “certificates of compliance”—shall be addressed in accordance with relevant policy documents.

3. Administrative law enforcement agencies shall adopt a tolerant and prudent approach to law enforcement, promoting the use of non-coercive measures such as persuasion and education, guidance and demonstration, and administrative guidance, while exercising administrative coercion with due caution in accordance with the law. Regulatory methods shall be innovated, including through joint law enforcement, to effectively reduce the burden on enterprises.

4. Financial institutions shall be actively encouraged to increase credit support for enterprises preparing for listing (or trading), and in principle, shall not withdraw, suspend, or reduce loans.

5. Organize training sessions on listing (or listing on a stock exchange) procedures for enterprises preparing to list (or list on a stock exchange), and invite intermediaries such as securities firms to provide policy briefings and consulting services to these enterprises.

6. The Yulin Municipal Financial Work Office shall evaluate the listing (or listing on a stock exchange) preparations of enterprises planning to go public (or list on a stock exchange), and every two years, publicly commend a group of such enterprises that have demonstrated active participation and achieved significant results in their listing efforts.

(II) Strengthening Support for Listed (or Quoted) Enterprises

Eligible listed (or listed on a stock exchange) enterprises shall be given priority support when applying for various government policy-based funds; for projects funded by listed (or listed on a stock exchange) enterprises through refinancing plans, priority shall be given in providing business guidance regarding project approval, licensing, and real estate registration.

VII. Encouraging Enhanced Efforts Toward Enterprise Listings

(1) Strengthening Supervision and Evaluation

Incorporate the cultivation of enterprises for listing (or listing on a stock exchange) into the annual performance evaluations of counties (cities, districts). Significant breakthroughs achieved by county (city, district) people’s governments in enterprise listing (or listing on a stock exchange) efforts shall serve as a key basis for awarding bonus points in annual performance evaluations.

(2) Intensify Enterprise Cultivation Efforts

    The Municipal Capital Market Work Leading Group shall intensify cultivation efforts, convening at least one enterprise symposium or research activity annually to promptly understand enterprises’ production and operation conditions, progress on listing (or trading) initiatives, and any difficulties or issues encountered. The municipal government shall allocate funds to cover expenses related to business training and research for enterprise listings, enterprise cultivation, and the procurement of listing-related services. Each county (city, district) shall increase funding for enterprise listing cultivation.

VIII. These measures apply within the jurisdiction of Yulin City.

IX. Where these measures overlap with other current or future policies of Yulin City, enterprises may choose to implement the most favorable policy; benefits may not be enjoyed cumulatively.

X. Enterprises that have already benefited from similar preferential policies issued by the People’s Government of the Autonomous Region during the IPO (listing) process shall not be precluded from enjoying the benefits provided under these Measures.

XI. The specific application procedures for the incentive funds covered by these measures shall be formulated and announced by the Yulin Municipal Financial Work Office in conjunction with the Yulin Municipal Finance Bureau.

XII. The Yulin Municipal Financial Work Office, in conjunction with the Yulin Municipal Finance Bureau, shall be responsible for interpreting these measures.

XIII. These Measures shall be effective from April 16, 2024, to December 31, 2025.