To better seize the favorable opportunities presented by the comprehensive deepening of capital market reforms, closely focus on the fundamental requirement that financial services support the real economy, fully leverage the role of the capital market in promoting industrial transformation and upgrading and fostering new drivers of economic growth, and support enterprises in listing on stock exchanges, the following measures are formulated in light of our city’s actual conditions.

I. Clarifying the Objectives for Enterprise Listing

Adhering to the principle of “government guidance, enterprise-led implementation, categorized guidance, and comprehensive promotion,” we will maintain city-level coordination, with district (city, county) governments and the Deyang Economic and Technological Development Zone Management Committee providing specific guidance, prospective listed enterprises taking the lead in implementation, and various intermediary institutions working in concert to drive progress. We aim to ensure that by the end of 2025, the city will have added 10 new domestic and overseas listed companies and 20 new NEEQ-listed enterprises.with each district (city, county) and the Deyang Economic and Technological Development Zone adding no fewer than one listed company and no fewer than two NEEQ-listed enterprises, thereby achieving full coverage of listed companies and NEEQ-listed enterprises.

II. Accelerating the Transformation of Modern Enterprise Systems

Following the main work priorities of “converting individual businesses into enterprises, upgrading small businesses to meet scale criteria, transforming scale-compliant enterprises into shareholding companies, and listing shareholding companies,” we will actively cultivate and develop market entities eligible for listing or listing on the NEEQ. During the 14th Five-Year Plan period, the city aims to achieve the “upgrading of small businesses to meet scale criteria” for more than 50 enterprises annually and complete the transformation to modern enterprise systems for more than 50 enterprises annually. Private enterprises that establish modern enterprise systems and pass relevant evaluations to meet the standards will be granted a reward of up to 50,000 yuan in accordance with the “Interim Measures for Rewarding Private Enterprises in Deyang for Establishing Modern Enterprise Systems.”

III. Strengthening the Foundation of Potential Listing Candidates

Following a tiered promotion model of “listing a batch, filing applications for a batch, providing guidance to a batch, cultivating a batch, and reserving a batch,” with each district (city, county) and the Deyang Economic and Technological Development Zone taking the lead, we will centrally screen a group of key enterprises that align with Deyang’s industrial development goals, have prominent core businesses, strong competitive capabilities, high profitability, and significant growth potential. These enterprises will be categorized and incorporated into the provincial and municipal databases of potential listed companies (hereinafter referred to as the “potential listed company database”) for dynamic management.The Municipal Financial Bureau, in collaboration with the Municipal Bureau of Economy and Information Technology, the Municipal Science and Technology Bureau, the Municipal Commerce Bureau, the Municipal Bureau of Agriculture and Rural Affairs, and other relevant industry authorities, will conduct follow-up reviews and comprehensive evaluations of the enterprises in the database every six months to stay abreast of their operational status and IPO progress. The goal is to ensure that by the end of 2025, no fewer than 35 enterprises from the city are included in the Sichuan Provincial IPO Candidate Database, and no fewer than 120 enterprises are included in the Deyang Municipal IPO Candidate Database.

IV. Comprehensively Enhancing Enterprises’ Willingness to Go Public

All districts (cities, counties) and the Deyang Economic and Technological Development Zone shall launch initiatives to boost corporate confidence in going public. They shall organize centralized promotional and training activities for at least 30 enterprises no fewer than twice annually to help enterprises strengthen their willingness to go public and boost their confidence in doing so.The Municipal Financial Bureau will further deepen cooperative training mechanisms with the Beijing, Shanghai, and Shenzhen stock exchanges. It will organize experience-sharing sessions with listed companies at least twice a year, conduct specialized training on IPO preparation four times a year, and host “Visits to the Stock Exchange” events at least once a year to help enterprises optimize their listing pathways and enhance their capabilities for IPO development.

V. Strengthening Resource Support for Potential Listing Enterprises

For new investment projects of enterprises in Sichuan Province’s IPO pipeline, all districts (cities, counties) and the Deyang Economic and Technological Development Zone shall actively allocate land, energy consumption, and other resource quotas. Efforts to recommend enterprises’ financing needs to financial institutions will be intensified, guiding these institutions to moderately lower approval requirements, allocate credit quotas, and provide support through preferential interest rates.In the evaluation of high-tech enterprises, science and technology-based small and medium-sized enterprises (SMEs), “specialized, refined, distinctive, and innovative” SMEs, leading enterprises in characteristic industrial clusters, strategic emerging industry enterprises, leading enterprises in agricultural industrialization, as well as provincial-level or higher R&D centers, science and technology innovation platforms, and engineering laboratories, priority support shall be given to enterprises in the IPO pipeline to help them expand their scale and enhance their core competitiveness.

VI. Effectively Reducing the Cost of Going Public

For new investment projects undertaken by enterprises in Sichuan Province’s IPO Candidate Pool, administrative and public service fees shall be reduced or exempted in accordance with the law for a period of three years starting from the date of commencement of IPO guidance. When converting allocated industrial land to land for sale, the land transfer fee may be determined based on the minimum price standard for industrial land in the locality. Where changes in ownership of land and property titles are required due to restructuring, reorganization, or mergers and acquisitions, and the actual controller remains unchanged, the relevant authorities may directly process the change procedures in accordance with the law after verification and approval by the people’s government at the same level.When enterprises apply to retroactively obtain property rights certificates for land and real estate where ownership is undisputed, relevant departments shall issue the certificates in accordance with laws and regulations after the corresponding fees have been paid. All fees within the jurisdiction of the local government level involved in restructuring shall be charged at the minimum standard.

VII. Leveraging the Guiding Role of Government Funds

Establish the Deyang City Enterprise Listing Special Guidance Fund. Through market-oriented operations, attract various types of social capital to participate in the establishment of industrial investment funds, venture capital funds, and private equity funds. Utilize methods such as direct investment, follow-on investment, and investment-lending linkage to focus on investing in enterprises in the listing pipeline, assisting them in resource integration, asset restructuring, and capital operations, and enhancing their ability to access capital markets.

VIII. Strengthening the Talent Pool for the Capital Market

Strengthen the development of the capital market talent pool. High-level and critically needed capital market professionals who meet relevant criteria shall be actively incorporated into the Deyang Financial Talent Management Program.The Municipal Financial Bureau will formulate training plans for high-level capital market professionals urgently needed for enterprise listings, such as independent directors, corporate secretaries, securities affairs representatives, and chief financial officers, to improve the skills of capital market practitioners. Each year, it will organize a group of personnel to participate in training and examinations conducted by the Beijing, Shanghai, and Shenzhen stock exchanges. It will encourage personnel from enterprises in the listing pipeline to participate in relevant professional qualification training and examinations. Those who obtain certificates for directors, supervisors, and senior executives (including corporate secretaries and independent directors) will be granted a one-time reward of 10,000 yuan per person.The Municipal Party Committee Talent Office has established a fast-track process for professional title evaluations for personnel at companies in the IPO pipeline. For those in specialized positions who demonstrate outstanding performance and significant contributions, the evaluation will not be limited by academic qualifications or seniority; instead, it will be based primarily on their actual performance and capabilities.

IX. Optimizing Government Services for Enterprise Listings

All districts (cities, counties) and the Deyang Economic and Technological Development Zone shall establish dedicated service counters in government service halls and online platforms to accept applications from enterprises preparing for IPO or listing, providing “one-stop” government services to such enterprises.For all approval or filing matters involving enterprises during processes such as restructuring, asset reorganization, and listing applications, or where relevant certificates are required under regulations of securities regulatory authorities or stock exchanges, the relevant functional departments shall actively fulfill their duties, establish a “green channel,” and implement “priority and expedited processing” and “special handling for special cases.” In principle, such matters shall be concluded within 5 working days from the date the enterprise submits a complete set of materials.

X. Strengthening Policy Incentives for Enterprise Listings

In accordance with the “Implementation Rules for Rewards for Enterprise Listing and Quotation in Deyang City,” rewards will be provided to enterprises on a tiered and phased basis, with a maximum of 5 million yuan per enterprise, to further reduce the cost of enterprises accessing capital markets. For each additional enterprise that completes an IPO on the Beijing, Shanghai, or Shenzhen Stock Exchanges, the municipal government will grant a reward of 1 million yuan to the district (city, county) government where the enterprise is located and to the Deyang Economic and Technological Development Zone Management Committee.

XI. Improving the Mechanism for Promoting Listings

For enterprises planning to submit listing applications in the current year, a designated municipal government official will be assigned to oversee them. In principle, a coordination meeting will be held once a month to address issues related to the enterprises’ listings. The governments of each district (city, county) and the Deyang Economic and Technological Development Zone Management Committee must earnestly assume primary responsibility for promoting the listing of enterprises within their jurisdictions. They shall establish dedicated task forces, improve working mechanisms, and assist enterprises in resolving difficulties and issues encountered during their development and listing processes.For enterprises included in the provincial IPO reserve pool, the responsible officials from the governments of each district (city, county) and the Deyang Economic and Technological Development Zone Management Committee shall maintain direct contact, conducting at least one on-site visit and one coordination meeting per quarter. For enterprises included in the Deyang municipal IPO reserve pool, the governments of each district (city, county) and the Deyang Economic and Technological Development Zone Management Committee shall collaborate with the Municipal Financial Bureau to provide joint support, conducting at least one on-site visit and one coordination meeting every six months.The efforts of district (city, county) governments, the Deyang Economic and Technological Development Zone Management Committee, and relevant municipal departments to promote enterprise listing shall be incorporated into the annual performance evaluation.

These measures shall take effect on November 28, 2022, and remain valid for five years. From January 29, 2021, until the effective date of these measures, implementation shall be carried out in accordance with these measures.

Appendix: Deyang City Enterprise Listing and IPO Incentive Standards

Appendix

Deyang City Enterprise Listing and IPO Reward Standards

I. Incentives for Inclusion in the Reserve Enterprise Pool

(1) Deyang City Pool of Potential Listing Enterprises. Enterprises that comply with national, provincial, and municipal industrial policies, have sound operations, possess development potential, and express a willingness to list on a stock exchange or go public shall be selected for inclusion in the pool. The pool shall be subject to dynamic management and adjusted once annually. Specific inclusion criteria and application procedures shall be implemented in accordance with the “Notice on Issuing the Management Measures for the Deyang City Pool of Potential Listing Enterprises.”

Enterprises that pass the review and are included in the Deyang City Pool of Potential Listing Enterprises will receive a one-time reward of 30,000 yuan.

(2) Sichuan Provincial Pool of Potential Listing Enterprises. Implementation shall follow the "Administrative Measures for the Sichuan Provincial Pool of Potential Listing Enterprises"; in principle, enterprises shall be recommended from the Deyang Municipal Pool of Potential Listing Enterprises.

Enterprises that pass the review and are included in the Provincial Listing Candidate Enterprise Resource Pool for the first time will receive a one-time supplementary reward of 50,000 yuan in addition to the provincial-level reward.

Enterprises included in both the Sichuan Provincial Pool of Potential Listing Enterprises and the Deyang Municipal Pool of Potential Listing Enterprises are hereinafter collectively referred to as “potential listing enterprises.”

II. Rewards for Shareholding System Reform

(1) Subsidy for Shareholding System Reform Costs. A one-time subsidy of 200,000 yuan shall be granted to prospective enterprises that sign relevant agreements with intermediary institutions for reform guidance and successfully complete the shareholding system reform.

(2) Subsidy for Equity Registration and Custody Fees. For non-listed joint-stock companies among the reserve enterprises that conduct equity registration and custody through equity custody institutions within the jurisdiction, a 30% subsidy on custody fees will be provided for five consecutive years starting from the year of custody, with a maximum of 20,000 yuan per enterprise per year.

(3) Rewards for Contributions to Shareholding Reform. For prospective enterprises that, due to shareholding reform for listing, need to convert retained earnings or undistributed profits into share capital, or that experience an increase in the value of land, real estate, or equipment following appraisal or subsequent book entry, the relevant fiscal authority shall provide rewards and support on a case-by-case basis, commensurate with their contribution to the local economy and society.

III. Listing Incentives

(1) Listing on the Tianfu Equity Exchange Center. Reserve enterprises that list on the Science and Technology Innovation Board, Specialized, Refined, Unique, and New Board, or the Belt and Road Board of the Tianfu Equity Exchange Center shall receive a one-time reward of 30,000 yuan.

(2) Listing on the National Equities Exchange and Quotations (NEEQ). Prospective listed companies that list for the first time on the Basic Tier or Innovation Tier of the NEEQ will receive one-time rewards of 500,000 yuan and 800,000 yuan, respectively. Those that are upgraded from the Basic Tier to the Innovation Tier for the first time will receive a one-time reward of 300,000 yuan.

IV. Listing Guidance Filing Incentives

A reserve enterprise that files for IPO guidance with the Sichuan Securities Regulatory Bureau for the first time and passes the mid-term review will receive a 500,000 yuan reward.

V. Listing Application Reward

Reserve enterprises whose initial public offering (IPO) application materials are accepted by the China Securities Regulatory Commission (or the Beijing, Shanghai, or Shenzhen Stock Exchanges) will receive a reward of 500,000 yuan.

VI. Initial Public Offering (IPO) and Follow-on Financing Incentives

(1) If a prospective listed company raises less than 300 million yuan through an IPO on the A-share market or overseas, and invests more than 50% of the proceeds in our city, it will receive a reward of 1 million yuan; if the IPO raises 300 million yuan or more and more than 50% of the proceeds are invested in our city, it will receive a reward of 2 million yuan; if the company’s operating revenue reaches 300 million yuan in the year of listing or the following year, an additional reward of 1 million yuan will be granted.

(2) For prospective and listed enterprises (including those listed overseas) that successfully issue common stock (excluding funds raised through initial public offerings), preferred stock, or convertible bonds, and invest more than 50% of the equity funds raised in our city, a reward of 5‰ of the actual funds raised shall be granted, with the maximum annual reward amount not exceeding 1 million yuan.

VII. Indirect Listing Incentives

(1) Relocation Incentives. Enterprises that, in accordance with relevant laws and regulations, relocate through “backdoor listings” or “shell acquisition” in accordance with relevant laws and regulations, and subsequently intends to relocate the listed company’s registered office to our city while committing not to relocate it for 10 years, the competent industry authority shall take the lead, in conjunction with relevant departments, to verify whether any major or particularly serious work safety accidents, severe environmental violations, or serious tax evasion occurred during its operation, or whether it was penalized by relevant authorities. If none of the above circumstances exist, the relocation shall be approved, and a one-time reward of 2 million yuan shall be granted, comparable to that for an IPO.

(2) Subsidy for Intermediary Fees. For enterprises achieving an indirect listing through asset swaps, mergers, or reorganizations, the beneficiary local government shall subsidize 50% of the total actual intermediary fees, up to a maximum of 2 million yuan.

VIII. Talent Incentives

Starting from the second year of their tenure, the Chief Financial Officer (CFO), Board Secretary, Finance Manager, and Securities Affairs Representative of eligible enterprises shall receive a reward from the beneficiary government equivalent to 50% of their contribution to the local economy and society in the previous year, for a period of three years. The reward shall be limited to no more than four individuals per enterprise, with a total reward amount not exceeding 500,000 yuan.

IX. Equity Incentive Rewards

Enterprises are encouraged to implement equity incentive plans to stimulate the innovative capabilities of scientific, technological, and management talent; attract and cultivate “value-creating” partners; and enhance team cohesion.

(1) Equity Incentive Incentives. Reserve enterprises that complete shareholding restructuring and implement equity incentives for senior executives and core personnel will receive a 200,000 yuan incentive.

(2) Support Measures for Employee Stock Ownership Platforms. For listed companies, companies preparing for listing, and prospective listed companies that adopt a partnership as an employee stock ownership platform, the beneficiary government will provide a reward equivalent to 80% of their contribution to the local economy and society for a period of five years, starting from the date the partnership commences its first business operation in De.

X. Incentives for Institutional Services

For banks, securities firms, fund management companies, consulting firms, and other institutions that introduce high-quality enterprises to our city for registration and which are subsequently included in the list of prospective enterprises in the following year, a reward of 100,000 yuan will be granted to the institution if the introduced enterprise completes the guidance and filing process with the Sichuan Securities Regulatory Bureau. If the enterprise completes its initial public offering (IPO) on the A-share market within five years, the institution will receive a reward of 2 million yuan.