㈠ 鎬庢牱鏌ョ湅鑲＄エ鍘嗗勾琛屾儏
1銆佺洰鍓嶅競闈涓婄殑澶ч儴鍒嗚偂紲ㄤ氦鏄撹蔣浠墮兘鍙浠ユ煡鐪嬭偂紲ㄧ殑鍘嗗勾琛屾儏錛屼竴鑸鐨勮偂紲ㄨ蔣浠朵腑鐨勶紝涓鑲¤屾儏閮藉寘鎷浜嗕粠涓婂競浠ユ潵鐨勮屾儏錛屽寘鎷鎴愪氦閲忋佹渶楂樹環銆佹渶浣庝環銆佸悇縐嶅潎綰跨瓑淇℃伅錛屾墦寮鑲＄エ緋葷粺鏌ョ湅鍗沖彲銆
2銆佽偂紲ㄨ屾儏鏄涓縐嶈瘉鍒稿競鍦虹敤璇錛屾寚鑲＄エ浜ゆ槗鎵鍐呭悇鍙鑲＄エ鐨勬定騫呭彉鍖栧強浜ゆ槗嫻侀氭儏鍐點傜倰鑲″逛簬楂樻墜璇存槸涓縐嶈壓鏈鐨勫壋浣滐紝鍒涗綔鍑烘洿澶氱殑浠峰箋傝偂紲ㄨ屾儏鍒嗘瀽鏄鍒涗綔鐨勭伒鎰熸潵婧愩傛墍浠ワ紝涓涓濂界殑璧勬簮蹇呭畾鍑虹幇闈炲父浼熷ぇ鐨勫壋浣溿
鑲＄エ鍏ラ棬|鑲＄エ姒傚康|鑲＄エ浠鋒牸|鑲＄エ浜ゆ槗
1銆佸湪鑲″競涓錛屾瘡澶╃殑琛屾儏琛ㄤ腑涓鑸鍖呮嫭澶х洏鎸囨暟銆佹垚浜ら噺銆佹崲鎵嬬巼銆佸競鐩堢巼銆佹婚噾棰濈瓑絳変俊鎮銆傝佹兂鏌ョ湅鑲＄エ琛屾儏鍐呭癸紝鍙浠ユ墦寮鑲＄エ浜ゆ槗杞浠朵腑鏌ョ湅錛屾垨鑰呭埌璇佸埜鍏鍙哥殑緗戠珯鎴栭棬鎴瘋儲緇忕綉絝欎笂鏌ョ湅銆
2銆佽偂紲ㄨ屾儏鏄涓縐嶈瘉鍒稿競鍦虹敤璇錛屾寚鑲＄エ浜ゆ槗鎵鍐呭悇鍙鑲＄エ鐨勬定騫呭彉鍖栧強浜ゆ槗嫻侀氭儏鍐點
姝ｈ勭殑鑲＄エapp鏈夊摢浜
; 鑲＄エ鐨勫熀鏈瀹氫箟
1鑲＄エ姒傚康
鑲＄エ鏄鑲′喚璇佷功鐨勭畝縐幫紝鏄鑲′喚鍏鍙鎬負絳歸泦璧勯噾鑰屽彂琛岀粰鑲′笢浣滀負鎸佽偂鍑璇佸苟鍊熶互鍙栧緱鑲℃伅鍜岀孩鍒╃殑涓縐嶆湁浠瘋瘉鍒搞傝偂紲ㄦ槸鑲′喚鍏鍙歌祫鏈鐨勬瀯鎴愰儴鍒嗭紝鍙浠ヨ漿璁┿佷拱鍗栨垨浣滀環鎶墊娂錛屾槸璧勯噾甯傚満鐨勪富瑕侀暱鏈熶俊鐢ㄥ伐鍏楓
鑲＄エ鏄鑲′喚鍏鍙稿彂琛岀殑鎵鏈夋潈鍑璇侊紝鏄鑲′喚鍏鍙鎬負絳歸泦璧勯噾鑰屽彂琛岀粰鍚勪釜鑲′笢浣滀負鎸佽偂鍑璇佸苟鍊熶互鍙栧緱鑲℃伅鍜岀孩鍒╃殑涓縐嶆湁浠瘋瘉鍒搞傛瘡鏀鑲＄エ鑳屽悗閮芥湁涓瀹朵笂甯傚叕鍙搞傛崲璦涔嬶紝姣忓朵笂甯傚叕鍙擱兘浼氬彂琛岃偂紲ㄣ
姣忚偂鑲＄エ閮戒唬琛ㄨ偂涓滃逛紒涓氭嫢鏈変竴涓鍩烘湰鍗曚綅鐨勬墍鏈夋潈銆傚悓涓綾誨埆鐨勬瘡涓浠借偂紲ㄦ墍浠ｈ〃鐨勫叕鍙告墍鏈夋潈鏄鐩哥瓑鐨勩傛瘡涓鑲′笢鎵鎷ユ湁鐨勫叕鍙告墍鏈夋潈浠介濈殑澶у皬錛屽彇鍐充簬鍏舵寔鏈夌殑鑲＄エ鏁伴噺鍗犲叕鍙告昏偂鏈鐨勬瘮閲嶃
2鑲＄エ鐗瑰緛
鑲＄エ鎶曡祫鏄涓縐嶆病鏈夋湡闄愮殑闀挎湡鎶曡祫銆傝偂紲ㄤ竴緇忎拱鍏ワ紝鍙瑕佽偂紲ㄥ彂琛屽叕鍙稿瓨鍦錛屼換浣曡偂紲ㄦ寔鏈夎呴兘涓嶈兘閫鑲★紝鍗充笉鑳藉悜鑲＄エ鍙戣屽叕鍙歌佹眰鎶藉洖鏈閲戙傚悓鏍鳳紝鑲＄エ鎸佹湁鑰呯殑鑲′笢韜浠藉拰鑲′笢鏉冪泭灝變笉鑳芥敼鍙橈紝浣嗕粬鍙浠ラ氳繃鑲＄エ浜ゆ槗甯傚満灝嗚偂紲ㄥ崠鍑猴紝浣胯偂浠借漿璁╃粰鍏朵粬鎶曡祫鑰咃紝浠ユ敹鍥炶嚜宸卞師鏉ョ殑鎶曡祫鏌ョ湅鑲＄エ鐗瑰緛鍏ㄦ枃
3鑲＄エ浣滅敤
(1)鑲＄エ涓婂競鍚庯紝 涓婂競鍏鍙稿氨鎴愪負鎶曡祫澶т紬鐨勬姇璧勫硅薄錛屽洜鑰屽規槗鍚告敹鎶曡祫澶т紬鐨勫偍钃勮祫閲戱紝鎵╁ぇ浜嗙硅祫鐨勬潵婧愩
(2)鑲＄エ涓婂競鍚庯紝 涓婂競鍏鍙哥殑鑲℃潈灝卞垎鏁ｅ湪鍗冨崈涓囦竾涓澶у皬涓嶄竴鐨勬姇璧勮呮墜涓錛岃繖縐嶈偂鏉冨垎鏁ｅ寲鑳芥湁鏁堝湴閬垮厤鍏鍙歌灝戞暟鑲′笢鍗曠嫭鏀閰嶇殑鍗遍櫓錛岃祴浜堝叕鍙告洿澶х殑緇忚惀鑷鐢卞害銆
(3)鑲＄エ浜ゆ槗鎵瀵逛笂甯傚叕鍙歌偂紲ㄨ屾儏鍙婂畾鏈熶細璁¤〃鍐岀殑鍏鍛婏紝璧蜂簡涓縐嶅箍鍛婃晥鏋滐紝鏈夋晥鍦版墿澶т簡涓婂競鍏鍙哥殑鐭ュ悕搴︼紝鎻愰珮浜嗕笂甯傚叕鍙哥殑淇¤獕
鑲＄エ鐨勪環鏍煎拰浠峰
1鑲＄エ鍙戣屼環
褰撹偂紲ㄤ笂甯傚彂琛屾椂錛屼笂甯傚叕鍙鎬粠鍏鍙歌嚜韜鍒╃泭浠ュ強紜淇濊偂紲ㄤ笂甯傛垚鍔熺瓑瑙掑害鍑哄彂錛屽逛笂甯傜殑鑲＄エ涓嶆寜闈㈠煎彂琛岋紝鑰屽埗璁涓涓杈冧負鍚堢悊鐨勪環鏍兼潵鍙戣岋紝榪欎釜浠鋒牸灝辯О涓鴻偂紲ㄧ殑鍙戣屼環銆
2鑲＄エ甯備環
鑲＄エ鐨勫競浠鳳紝鏄鎸囪偂紲ㄥ湪浜ゆ槗榪囩▼涓浜ゆ槗鍙屾柟杈炬垚鐨勬垚浜や環錛岄氬父鎵鎸囩殑鑲＄エ浠鋒牸灝辨槸鎸囧競浠楓傝偂紲ㄧ殑甯備環鐩存帴鍙嶆槧鐫鑲＄エ甯傚満鐨勮屾儏錛屾槸鑲℃皯璐涔拌偂紲ㄧ殑渚濇嵁銆傜敱浜庡彈浼楀氬洜緔犵殑褰卞搷錛岃偂紲ㄧ殑甯備環澶勪簬緇忓父鎬х殑鍙樺寲涔嬩腑銆傝偂紲ㄤ環鏍兼槸鑲＄エ甯傚満浠峰肩殑闆嗕腑浣撶幇錛屽洜姝よ繖涓浠鋒牸鍙堢О涓鴻偂紲ㄨ屽競銆
3鑲＄エ娓呯畻浠鋒牸
鑲＄エ鐨勬竻綆椾環鏍兼槸鎸囦竴鏃﹁偂浠藉叕鍙哥牬浜ф垨鍊掗棴鍚庤繘琛屾竻綆楁椂錛屾瘡鑲¤偂紲ㄦ墍浠ｈ〃鐨勫疄闄呬環鍊箋備粠鐞嗚轟笂璁詫紝鑲＄エ鐨勬瘡鑲℃竻綆椾環鏍煎簲涓庤偂紲ㄧ殑甯愰潰浠峰肩浉涓鑷達紝浣嗕紒涓氬湪鐮翠駭娓呯畻鏃訛紝鍏惰儲浜т環鍊兼槸浠ュ疄闄呯殑閿鍞浠鋒牸鏉ヨ＄畻鐨勶紝鑰屽湪榪涜岃儲浜у勭疆鏃訛紝鍏跺敭浠蜂竴鑸閮戒細浣庝簬瀹為檯浠峰箋傛墍浠ヨ偂紲ㄧ殑娓呯畻浠鋒牸灝變細涓庤偂紲ㄧ殑鍑鍊間笉鐩鎬竴鑷淬傝偂紲ㄧ殑娓呯畻浠鋒牸鍙鏄鍦ㄨ偂浠藉叕鍙稿洜鐮翠駭鎴栧叾浠栧師鍥犱撫澶辨硶浜鴻祫鏍艱岃繘琛屾竻綆楁椂鎵嶈浣滀負紜瀹氳偂紲ㄤ環鏍肩殑渚濇嵁錛屽湪鑲＄エ鐨勫彂琛屽拰嫻侀氳繃紼嬩腑娌℃湁鎰忎箟銆
4鑲＄エ闈㈠
鑲＄エ鐨勯潰鍊礆紝鏄鑲′喚鍏鍙稿湪鎵鍙戣岀殑鑲＄エ紲ㄩ潰涓婃爣鏄庣殑紲ㄩ潰閲戦濓紝瀹冧互鍏/鑲′負鍗曚綅錛屽叾浣滅敤鏄鐢ㄦ潵琛ㄦ槑姣忎竴寮犺偂紲ㄦ墍鍖呭惈鐨勮祫鏈鏁伴濄傚湪鎴戝浗涓婃搗鍜屾繁鍦寵瘉鍒鎬氦鏄撴墍嫻侀氱殑鑲＄エ鐨勯潰鍊煎潎涓哄９鍏冿紝鍗蟲瘡鑲′竴鍏冦
鑲＄エ闈㈠肩殑浣滅敤涔嬩竴鏄琛ㄦ槑鑲＄エ鐨勮よ喘鑰呭湪鑲′喚鍏鍙哥殑鎶曡祫涓鎵鍗犵殑姣斾緥錛屼綔涓虹『瀹氳偂涓滄潈鍒╃殑渚濇嵁銆傚傛煇涓婂競鍏鍙哥殑鎬昏偂鏈涓1錛000錛000鍏冿紝鍒欐寔鏈変竴鑲¤偂紲ㄥ氨琛ㄧず鍦ㄨュ叕鍙稿崰鏈夌殑鑲′喚涓1/1錛000錛000銆傜浜屼釜浣滅敤灝辨槸鍦ㄩ栨″彂琛岃偂紲ㄦ椂錛屽皢鑲＄エ鐨勯潰鍊間綔涓哄彂琛屽畾浠風殑涓涓渚濇嵁銆備竴鑸鏉ヨ達紝鑲＄エ鐨勫彂琛屼環鏍奸兘浼氶珮浜庡叾闈㈠箋傚綋鑲＄エ榪涘叆嫻侀氬競鍦哄悗錛岃偂紲ㄧ殑闈㈠煎氨涓庤偂紲ㄧ殑浠鋒牸娌℃湁浠涔堝叧緋諱簡銆傝偂姘戠埍灝嗚偂浠風倰鍒板氶珮錛屽畠灝辨湁澶氶珮銆
5鑲＄エ鍑鍊
鑲＄エ鐨勫噣鍊煎張縐頒負甯愰潰浠峰礆紝涔熺О涓烘瘡鑲″噣璧勪駭錛屾槸鐢ㄤ細璁＄粺璁＄殑鏂規硶璁＄畻鍑烘潵鐨勬瘡鑲¤偂紲ㄦ墍鍖呭惈鐨勮祫浜у噣鍊箋傚叾璁＄畻鏂規硶鏄鐢ㄥ叕鍙哥殑鍑璧勪駭(鍖呮嫭娉ㄥ唽璧勯噾銆佸悇縐嶅叕縐閲戙佺瘡縐鐩堜綑絳夛紝涓嶅寘鎷鍊哄姟)闄や互鎬昏偂鏈錛屽緱鍒扮殑灝辨槸姣忚偂鐨勫噣鍊箋傝偂浠藉叕鍙哥殑甯愰潰浠峰艱秺楂橈紝鍒欒偂涓滃疄闄呮嫢鏈夌殑璧勪駭灝辮秺澶氥傜敱浜庡笎闈浠峰兼槸璐㈠姟緇熻°佽＄畻鐨勭粨鏋滐紝鏁版嵁杈冪簿紜鑰屼笖鍙淇″害寰堥珮錛屾墍浠ュ畠鏄鑲＄エ鎶曡祫鑰呰瘎浼板拰鍒嗘瀽涓婂競鍏鍙稿疄鍔涚殑鐨勯噸瑕佷緷鎹涔嬩竴銆傝偂姘戝簲娉ㄦ剰涓婂競鍏鍙哥殑榪欎竴鏁版嵁銆
鑲＄エ浜ゆ槗鐨勪竴綰у競鍦哄拰鑲＄エ浜岀駭甯傚満
鑲＄エ涓綰у競鍦烘寚鑲＄エ鐨勫垵綰у競鍦轟篃鍗沖彂琛屽競鍦猴紝鍦ㄨ繖涓甯傚満涓婃姇璧勮呭彲浠ヨよ喘鍏鍙稿彂琛岀殑鑲＄エ銆傞氳繃涓綰у競鍦猴紝鍙戣屼漢絳規帾鍒頒簡鍏鍙告墍闇璧勯噾錛岃屾姇璧勪漢鍒欒喘涔頒簡鍏鍙哥殑鑲＄エ鎴愪負鍏鍙哥殑鑲′笢錛屽疄鐜頒簡鍌ㄨ搫杞鍖栦負璧勬湰鐨勮繃紼嬨傚湪瑗挎柟鍥藉訛紝涓綰у競鍦哄張縐拌瘉鍒稿彂琛屽競鍦恆佸垵綰ч噾鋙嶅競鍦烘垨鍘熷嬮噾鋙嶅競鍦恆傚湪涓綰у競鍦轟笂錛岄渶奼傝呭彲浠ラ氳繃鍙戣岃偂紲ㄣ佸哄埜鍙栧緱璧勯噾銆傚湪鍙戣岃繃紼嬩腑錛屽彂琛岃呬竴鑸涓嶇洿鎺ュ悓鎸佸竵璐涔拌呰繘琛屼氦鏄擄紝闇瑕佹湁涓闂存満鏋勫姙鐞嗭紝鍗寵瘉鍒哥粡綰浜恆傛墍浠ヤ竴綰у競鍦哄張鏄璇佸埜緇忕邯浜哄競鍦恆
浜岀駭甯傚満( Secondary market)鏄鏈変環璇佸埜鐨勪氦鏄撳満鎵銆佹祦閫氬競鍦猴紝鏄鍙戣岀殑鏈変環璇佸埜榪涜屼拱鍗栦氦鏄撶殑鍦烘墍銆備簩綰у競鍦哄湪浜庝負鏈変環璇佸埜鎻愪緵嫻佸姩鎬с備繚鎸佹湁浠瘋瘉鍒哥殑嫻佸姩鎬э紝浣胯瘉鍒告寔鏈夎呴殢鏃跺彲浠ュ崠鎺夋墜涓鐨勬湁浠瘋瘉鍒革紝寰椾互鍙樼幇銆(濡傝瘉鍒告寔鏈夎呬笉鑳介殢鏃跺皢鑷宸辨墜涓鐨勬湁浠瘋瘉鍒稿彉鐜頒細閫犳垚鏃犱漢璐涔版湁浠瘋瘉鍒搞)涔熸ｆ槸鍥犱負涓烘湁浠瘋瘉鍒哥殑鍙樼幇鎻愪緵浜嗛斿緞錛屾墍浠ヤ簩綰у競鍦哄悓鏃跺彲浠ヤ負鏈変環璇佸埜瀹氫環錛屾潵鍚戣瘉鍒告寔鏈夎呰〃鏄庤瘉鍒哥殑甯傚満浠鋒牸銆傝偂紲ㄦ祦閫氬競鍦烘槸宸茬粡鍙戣岀殑鑲＄エ鎸夋椂浠瘋繘琛岃漿璁┿佷拱鍗栧拰嫻侀氱殑甯傚満錛屽寘鎷浜ゆ槗鎵甯傚満鍜屽満澶栦氦鏄撳競鍦轟袱閮ㄥ垎銆
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4鑲＄エ鎶鏈鍒嗘瀽瀵逛簬鐐掕偂鏉ヨ達紝鍩烘湰鐨勬妧鏈鍒嗘瀽鏄灝戜笉浜嗙殑錛屾妧鏈鍒嗘瀽涓鑸鏉ヨ村垎涓轟袱涓鏂歸潰錛屼竴涓鏄鎶鏈闈錛屼篃灝辨槸甯歌寸殑k綰褲備竴涓鏄浣犲熀鏈闈錛屼竴鑸鍩烘湰闈㈠垎鏋愬垎鎴愬畯瑙傚垎鏋愶紝琛屼笟鍒嗘瀽鍜屽叕鍙稿垎鏋愩傚畯瑙傚垎鏋愬氨鏄闈㈠圭幇鍦ㄧ殑緇忔祹澶х幆澧冭繘琛屽垎鏋愶紝涓昏佹槸浠庣洰鍓嶇殑鏀跨瓥鏂瑰悜涓婂垽鏂姝ｇ『鐨勭粡嫻庡彂灞曟儏鍐典互鍙婁箣鍚庣殑浜т笟鍙戝睍渚ч噸鏂瑰悜銆傚叕鍙稿垎鏋愬氨鏄瀵瑰叕鍙哥殑涓氱嘩榪涜屽垎鏋愩
澶ф櫤鎱ц蔣浠跺備綍鐢ㄨ偂紲ㄤ唬鐮佺簿紜鏌ヨ㈡煇鑲＄エ鏂規硶錛
1鎵撳紑澶ф櫤鎱ц蔣浠躲佺櫥闄嗗笎鎴鳳紱
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榪欐牱灝卞彲浠ョ簿紜鏌ヨ㈡煇鑲＄エ浜嗐
濡傦細鏌ョ湅闈掑矝鍙屾槦錛氬湪鎼滅儲鏍忎腑杈撳叆鑲＄エ浠ｇ爜000599錛岀偣鎼滅儲灝卞彲浠ャ
㈣ 鎬庢牱鏌ユ壘鑲＄エ鐨勫巻鍙插競鐩堢巼鏁版嵁錛
鎺㈢儲鑲＄エ浼板肩殑濂ョ橈細鍘嗗彶甯傜泩鐜囨暟鎹鐨勫繪壘涔嬫棶
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