第30章

《盡職審查指引》－

向分析員提供資料

增補附件3:(a)啟動會議的簡報材料及(b)香港宣傳備忘錄的建議附文

(a) 供項目啟動會議材料之用：

向分析員披露重要資料之限制

《證券及期貨事務監察委員會持牌人或註冊人操守準則》第16段向任何投資研究分析員施加披露或提供任何重要資料方面的限制，包括不屬於合理地預期會載於招股章程、且不可公開取得的前瞻性資料（不論是量化或質化資料）。

為避免責任風險，公司的董事及高級管理層必須確保沒有向任何投資研究分析員提供關於公司或其證券的任何重要資料，除非該等資料已合理地預期會納入招股章程內或可公開取得。當評估任何該等資料是否「重要」資料時，適用的測試應為資料在投資者對公司及其財務狀況及盈利能力達致有效及有理據支持的意見方面是否重要。

此限制涵蓋直接或間接、正式或非正式、以書面或口頭方式向分析員提供的任何資料，包括於會議、介紹會、實地考察或會面或在任何其他情況下的所有溝通。任何該等資料可引致嚴重的法律和監管方面的後果。除非上述資料已合理地預期會納入招股章程內或可公開取得，否則必須加倍謹慎以免傳達該等資料。

隨附一份備忘錄載列首次公開發售的發行人在監管要求下須承擔的責任。將於適當時為公司的適當人員提供培訓以促進其符合適用規則的規定。

(b) 供宣傳備忘錄之用：

向分析員披露重要資料之限制

《證券及期貨事務監察委員會持牌人或註冊人操守準則》第16段向任何投資研究分析員施加披露或提供任何重要資料方面的限制，包括不屬於合理地預期會納入招股章程內或可公開取得、關於公司的前瞻性資料（不論是質化或量化資料）。

為避免責任風險，公司的董事及高級管理層必須確保沒有向任何投資研究分析員提供關於公司或其證券的任何重要資料，除非該等資料已合理地預期會納入招股章程內或可公開取得。當評估任何該等資料是否「重要」資料時，適用的測試應為有關資料在投資者對公司及其財務狀況及盈利能力達致有效及有理據支持的意見方面是否重要。

此限制涵蓋直接或間接、正式或非正式、以書面或口頭方式向分析員提供的任何資料，包括於會議、介紹會、實地考察或會面或在任何其他情況下的所有溝通。任何該等資料可引致嚴重的法律和監管方面的後果。除非上述資料已合理地預期會納入招股章程內或可公開取得，否則必須加倍謹慎以免傳達該等資料。

如果有任何重要的非公開資料向投資或研究分析員發放或披露的意圖或風險，在此強烈建議公司向[保薦人及兩個香港法例顧問團隊的名稱]尋求指導和協助。

(a) 啟動會議的簡報材料及(b)宣傳備忘錄的附文（英文版本）：

(a) For kick-off meeting materials:

Restriction on disclosure of material information to analysts

Paragraph 16 of the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission imposes restrictions on the disclosure or provision to any investment research analyst of any material information, including forward-looking information (whether quantitative or qualitative) which is not reasonably expected to be contained in a prospectus and is not publicly available.

To avoid the risk of liability, the directors and senior management of the Company must ensure that no material information about the Company or its securities is provided to any investment research analyst, unless the information is reasonably expected to be included in the prospectus or is publicly available. When assessing whether any such information is「material」information, the test that should be applied is whether the information is material to an investor in forming a valid and justifiable opinion of the Company and its financial condition and profitability.

This restriction covers any information provided to an analyst, directly or indirectly, formally or informally, and in writing or verbally. It covers all communications in a meeting, during a presentation, site visit or interview, or in any other context. Any such information may give rise to serious legal and regulatory implications. Care must be taken that no such information is communicated unless it is reasonably expected to be in the prospectus or is publicly available.

Attached please find a memorandum setting out the responsibilities of IPO issuers under the regulatory requirements. Training sessions for the Company’ s appropriate personnel will be provided in due course to facilitate compliance with the applicable rules.

(b) For publicity memorandum:

Restriction on disclosure of material information to analysts

Paragraph 16 of the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission imposes restrictions on the disclosure or provision to any investment research analyst of any material information, including forward-looking information (whether qualitative or quantitative) concerning the Company that is not reasonably expected to be included in the prospectus or publicly available.

To avoid the risk of liability, the directors and senior management of the Company must ensure that no material information about the Company or its securities is provided to any investment research analyst, unless the information is reasonably expected to be included in the prospectus or is publicly available. When assessing whether any such information is「material」information, the test that should be applied is whether the information is material to an investor in forming a valid and justifiable opinion of the Company and its financial condition and profitability.

This restriction covers any information provided to an analyst, directly or indirectly, formally or informally, and in writing or verbally. It covers all communications in a meeting, during a presentation, site visit or interview, or in any other context. Any such information may give rise to serious legal and regulatory implications. Care must be taken that no such information is communicated unless it is reasonably expected to be in the prospectus or is publicly available.

The Company is strongly advised to seek the guidance and assistance of [names of the sponsor and both teams of Hong Kong legal advisers] where there is any intention or risk of material non-public information being released or disclosed to an investment or research analyst.