Article 20 After the bonds are listed, the issuer shall abide by the following basic principles for information disclosure:

All the members of the board of directors of the enterprise that issues the bonds shall ensure that the contents of information disclosure be truthful, accurate, and complete, and have no false statements, misrepresentations or great omissions, and shall ensure to undertake individual and joint liabilities for it.

The information that shall be disclosed by the issuer includes regular report and temporary report. Regular report shall include annual report and intermediate report, and other reports shall be temporary reports.

The report of an issuer shall be registered at this Stock Exchange before it is disclosed. This Stock Exchange shall make retrospective review on regular report and make prospective review on temporary report.

Before the information of the issuer is officially disclosed, the board of directors of the issuer and all the members thereof and other persons in the know shall be directly responsible for controlling those knowing the information within the minimum scope, and shall not reveal the contents of the information before it is announced.

If the information publicly disclosed by the issuer involves finance and accounting, law, assets evaluation, and other matters, it shall be examined and verified by certified accountants that have the qualification of undertaking securities business, lawyers firms, and assets evaluation institutions, and other professional intermediary institutions with the issuance of written opinions.

This Stock Exchange shall make formal examination on the information disclosed by the issuers in accordance with the various laws, regulations, and provisions, and shall not undertake liabilities for its contents.

The information disclosed by the issuer shall be announced in at least one newspaper or periodical designated by CSRC, and the information to be disclosed by any other public media shall not be made public before it is disclosed by the designated newspaper or periodical. The issuer shall not substitute news conference or answer the questions of the reporters for the information disclosure obligations.

In case any issuer has adequate reasons to believe that the reveal of the relevant information contents will impair the interests of the enterprise, and it will not result in the great change of the market price of bonds if the information is not released, the information may not be publicized upon the approval of this Stock Exchange.

The issuer shall report to this Stock Exchange any matter that shall not be disclosed as believed by it according to the relevant state laws and regulations, and shall state the reasons for not revealing the information. The contents may be exempted from being disclosed upon the approval of this Stock Exchange.

Article 21 During the bonds listing period, an enterprise shall, within two months from the day when the first half of each fiscal year ends, submit to CSRC and this Stock Exchange the intermediate report covering at least the following contents, and make announcement on the information disclosure newspapers or periodicals designated by CSRC:

Financial and accounting status of the enterprise and the management information thereof;

Major litigation matters involving or may involve the enterprise;

Alteration of the bonds having been issued; and

Other matters required by CSRC and this Stock Exchange.

Article 22 During the bonds listing period, an enterprise shall, within 4 months from the day when each fiscal year ends, submit to CSRC and this Stock Exchange an annual report covering at least the following contents, and make announcement on the information disclosure newspapers or periodicals designated by CSRC:

Brief introduction of the issuer;

Financial statements of the issuer audited by certified accountants who have the qualification of practicing securities and the management information;

Conditions on the bonds having been issued;

Matters involving litigation; and

Other matters required by CSRC and this Stock Exchange.

Article 23 During the bonds listing period, if any of the following great events that may have great impact to the price of the bonds occurs, the issuer shall submit the relevant report to this Stock Exchange as soon as possible, and make announcement on the information disclosure newspapers and periodicals that are designated by CSRC as required:

Decision on the issuance of new bonds;

Conditions on the occurrence of great debts and breach of the contract for failure to repay the major debts due;

Decision on capital decrease, merger, division, dissolution, application for bankruptcy, and alteration of the subject of the bond issuer;

Conditions involving the alteration of the subject of the guarantor;

Major litigation involving or may involve the enterprise debts; and

Other matters that shall be reported according to state laws and regulations and CSRC and this Stock Exchange.

Article 24 One week before the bonds expire, the issuer shall announce the cashing of the bonds and other relevant matters in the information disclosure newspapers and periodicals designated by CSRC as required.