On the evening of February 23, Shenzhen Energy and Zhengzhong Design announced that they had received a "warning letter" from the Shenzhen Securities Regulatory Bureau. The reporter of "Public ** Daily" found that the reasons are related to independent director Zhang Shunwen, who also serves as a director, supervisor or senior manager of more than five companies, which does not meet the relevant regulations.
According to public information, Zhang Shunwen also served as an independent director in A-share companies such as Yahuilong and Yidong Electronics. Up to now, Zhang Shunwen has resigned from Zheng Zhonghua and is still an independent director of Shenzhen Energy, Wemax and Wondershare Technology.
In addition to Shenzhen Energy and Zhengzhong Design, more than 10 companies such as Yanjing Beer, Shenshui Planning Institute, Jiangsu Jiaoke, Zhenshitong, CIMC, Yueling Shares, Xingwang Yuda, Beimo Hi-Tech, and Aike also announced that they received warning letters on the evening of February 23.
Behind the warning letter is the new requirements put forward by the regulator to standardize the quality of the performance of duties by independent directors of listed companies. On 4 September 2023, the Measures for the Administration of Independent Directors of Listed Companies (hereinafter referred to as the "New INED Regulations") came into effect, and the New INED Regulations adjusted the maximum number of independent directors who can serve as independent directors of listed companies from "five domestic and foreign listed companies" to "three domestic listed companies" to ensure that INEDs have sufficient time and energy to perform their duties.
The new INED rules set a one-year transition period. According to the statistics of Dongcai Choice, the reporter of "Dazhong ** Daily" found that after September 4, 2023, A-shares set off a wave of "resignation" of independent directors, and a total of 349 relevant announcements involving "resignation of independent directors" were issued, and 1,802 people resigned successively, of which more than half of the reasons for resignation were "re-election".
Some market participants believe that the implementation of the new rules on independent directors is to standardize the behavior of independent directors, give full play to the role of independent directors in the governance of listed companies, and promote the improvement of the quality of listed companies. On the whole, in the future, independent directors should be both "independent" and "understanding", and their responsibilities and rights should be unified.
Reporter Chen Zhi Intern Reporter Lu Maomiao.