The number of A-share companies holding conferences with investors to present their annual reports has surged by more than 40 percent year-on-year, pointing to listed companies' growing emphasis on investor relations management, official data showed.
Up to 3,756 A-share companies have held meetings with investors this year to elaborate on their 2020 financial results, up more than 40 percent year-on-year and accounting for 87.41 percent of the total companies that have disclosed annual reports, according to the China Securities Regulatory Commission.
"Many of them held such meetings for the first time this year. The expected goal of smoothening the communication channel between investors and listed companies has been realized fairly well," said Yan Qingmin, vice-chairman of the CSRC.
Chairmen and general managers from about 3,688 listed companies have attended the meetings to directly interact with investors, which has helped strengthen the depth of listed firms' dialogue with investors, Yan said.
Listed firms should take the conferences of financial results presentation as a key opportunity to improve disclosure quality and optimize investor relations, Yan said, requiring them to make the display of financial results more understandable, listening to advice from investors and proactively guiding market expectations via such meetings.
There remain listed companies that have not paid adequate attention to investor relations management and never held meetings to present their financial results. The commission will further encourage such firms to strengthen their communication with investors, Yan said.
Yan made the remarks at a conference for listed firms to exchange their experience in holding meetings to present financial results on Thursday. The conference was organized by the China Association for Public Companies.