Research On Problems And Countermeasures Of A Share IPO Information Disclosure System

The reform of China's new stock issuance and registration system is still in progress.The information disclosure system is the core of the registration system and has become a hot topic of current research.Due to the many problems existing in China's current IPO information disclosure system,in order to more clearly identify these issues and make recommendations,this article has introduced a comparative analysis of the status of Hong Kong's information disclosure system,in the hope that they can learn from some institutional measures in the Mainland to improve China's domestic information disclosure status.Based on the differences in IPO information disclosure systems between the two places,this article uses the case of China MCC,a company listed on the two A+H shares,as a case study.This paper compares the specific systems of IPO information disclosure between the Mainland and Hong Kong through the case study method and the comparative analysis method,and finds that there are differences in the system of regulations and laws,the regulatory system,the penalty regulations,and the disclosure content.By sorting out the financial information disclosed in the prospectus of China MCC,the differences between the two areas in risk information,use of raised funds,non-recurring gains and losses,related party transactions,and profit forecasting were summarized and introduced.Daily income,IPO pricing deviation and operating financial indicators to illustrate the effectiveness of information disclosure.Finally,according to the problems existing in the information disclosure system and specific disclosure in the Mainland,relevant policy recommendations are given,that is to improve China's A-share IPO information disclosure system from three aspects:the implementation of a more stringent regulatory system,the improvement of IPO information disclosure content,and the strengthening of investor rights protection and education.