Re: Q&A in connection with financial investment identification relating to guidance for supervision of listed companies (No. 2)

关于上市公司监管指引第2号有关财务性投资认定的问答（2016年3月4日）

III. Q&A about financial investment identification relating to guidance for supervision of listed companies (No. 2) (March 4, 2016)

问： 《上市公司监管指引第2号——上市公司募集资金管理和适用的监管要求》第六条规定，“上市公司募集资金原则上应用于主营业务，除金融类企业外，募集资金投资项目不得为持有交易性金融资产和可供出售金融资产、借予他人、委托理财等财务性投资，不得直接或间接投资于以买卖有价证券为主要业务的投资”。对于其中的“财务性投资”应如何理解？

Question: Article 6 of the Guidance for Supervision of Listed Companies (No. 2) ——Administration of Funds Raised By Listed Companies and Applicable Supervision Requirements provides that “The funds raised by listed companies shall apply to main business in principle. Except for the financial enterprises, the raising funds investment projects shall not be the financial investments such as the holding trading financial assets and available-for-sale financial assets, lending to other, entrust financing, etc., shall not directly or indirectly invest in the project with selling and buying securities as its main business.” How to understand the term “Financial Investment”?

答： 财务性投资除监管指引中已明确的持有交易性金融资产和可供出售金融资产、借予他人、委托理财等情形外，对于上市公司投资于产业基金以及其他类似基金或产品的，如同时属于以下情形的，应认定为财务性投资：

Reply: Financial Investment, in addition to the circumstances such as the holding trading financial assets and available-for-sale financial assets, lending to other, entrust financing, etc. specific in the Guidance for Supervision, for the circumstance that listed companies invest in industry fund and other similar funds or products, which belongs to the following conditions at the same time, shall be identified as the Financial Investment:

1、上市公司为有限合伙人或其投资身份类似于有限合伙人，不具有该基金（产品）的实际管理权或控制权；

Where a listed company is the limited partner or its investment status is similar to limited partner, it has no de facto right to manage or control such funds (products);

2、上市公司以获取该基金（产品）或其投资项目的投资收益为主要目的。

The main purpose of a limited company is to gain such fund (products) or the investment income from its investment projects.

上市公司将募集资金用于设立控股或参股子公司，实际资金投向应遵守监管指引第2号的相关规定。

The listed companies make the raising funds available to establish holding or joint stock subsidiaries, and the actual investment of fund shall comply with the relevant provisions of Guidance for Supervision (No.2).

旗渡是法律圈的翻译匠，红圈所都在用，欢迎免费试译。