KYB CHINA(2024年12月23日国务院第49次常务会议通过 2025年1月10日中华人民共和国国务院令第798号公布 自2025年2月15日起施行)
(Adopted at the 49th Executive Meeting of the State Council on December 23, 2024, promulgated by Order No. 798 of the State Council of the People's Republic of China on January 10, 2025, and effective as of February 15, 2025)
为了规范中介机构为公司公开发行股票提供服务行为，提高上市公司质量，保护投资者合法权益，促进资本市场健康稳定发展，制定本规定。
These Provisions are formulated to regulate the conduct of intermediaries providing services for companies' public issuance of stocks, improve the quality of listed companies, protect the legitimate rights and interests of investors, and promote the healthy and stable development of the capital market.
证券公司、会计师事务所、律师事务所等机构(以下统称中介机构)为公司在中华人民共和国境内公开发行股票提供服务收取费用等相关活动，适用本规定。
These Provisions apply to activities such as fee collection by securities companies, accounting firms, law firms, and other institutions (hereinafter collectively referred to as intermediaries) when providing services for companies' public issuance of stocks within the territory of the People's Republic of China.
中介机构为公司公开发行股票提供服务，应当遵循诚实守信、勤勉尽责、独立客观的原则，同时配备具有相应专业能力和资质的从业人员，建立有效的利益冲突审查等风险控制制度。
When providing services for companies' public issuance of stocks, intermediaries shall adhere to the principles of honesty and trustworthiness, diligence and responsibility, independence and objectivity, and shall assign practitioners with appropriate professional competence and qualifications, and establish effective risk control systems such as conflict of interest review.
中介机构为公司公开发行股票提供服务，不得有配合公司实施财务造假、欺诈发行、违规信息披露等违法违规行为，制作、出具的文件不得有虚假记载、误导性陈述或者重大遗漏。
When providing services for companies' public issuance of stocks, intermediaries shall not engage in illegal or non-compliant acts such as cooperating with companies to commit financial fraud, fraudulent issuance, or illegal information disclosure, and the documents they produce or issue shall not contain false records, misleading statements, or material omissions.
中介机构应当遵循市场化原则，根据工作量、所需资源投入等因素合理确定收费标准，并与发行人在合同中约定收费安排。
Intermediaries shall follow market-oriented principles, reasonably determine fee standards based on factors such as workload and resource input, and agree on fee arrangements in contracts with issuers.
证券公司从事保荐业务，可以按照工作进度分阶段收取服务费用，但是收费与否以及收费多少不得以股票公开发行上市结果作为条件。
Securities companies engaged in sponsorship business may charge service fees in stages according to work progress, but whether fees are charged and the amount shall not be conditional on the result of the public issuance and listing of stocks.
证券公司从事承销业务，应当符合国务院证券监督管理机构的规定，综合评估项目成本等因素收取服务费用，不得按照发行规模递增收费比例。
Securities companies engaged in underwriting business shall comply with the regulations of the securities regulatory authority of the State Council, comprehensively evaluate factors such as project costs to determine service fees, and shall not increase the fee ratio based on the scale of issuance.
会计师事务所执行审计业务，可以按照工作进度分阶段收取服务费用，但是收费与否以及收费多少不得以审计结果或者股票公开发行上市结果作为条件。
Accounting firms performing audit services may charge service fees in stages according to work progress, but whether fees are charged and the amount shall not be conditional on the audit result or the result of the public issuance and listing of stocks.
律师事务所为公司公开发行股票提供服务，应当由律师事务所统一收费，并符合国务院司法行政等部门关于律师服务收费的相关规定。
When law firms provide services for companies' public issuance of stocks, fees shall be collected uniformly by the law firm and shall comply with the relevant provisions of the judicial administration department of the State Council on lawyer service fees.
中介机构及其从业人员不得存在以下情形：
Intermediaries and their practitioners shall not engage in the following circumstances:
(一)在合同约定之外收取费用，或者以临时加价等方式变相提高收费标准；
(1) Charging fees outside the contract, or indirectly raising fee standards through temporary price increases or other means;
(二)通过签订补充协议、另行约定等方式规避监管收取服务费用，或者违反规定在不同业务之间调节收取服务费用；
(2) Evading supervision to collect service fees by signing supplementary agreements, separate arrangements, or other means, or adjusting service fees between different businesses in violation of regulations;
(三)违反规定入股，或者通过获取股票公开发行上市奖励费等方式谋取不正当利益；
(3) Acquiring shares in violation of regulations, or seeking improper benefits through obtaining rewards for stock public issuance and listing;
(四)其他违反国家规定的收费或者变相收费行为。
(4) Other fee collection or disguised fee collection acts that violate state regulations.
地方各级人民政府不得以股票公开发行上市结果为条件，给予发行人或者中介机构奖励。
Local people's governments at all levels shall not grant rewards to issuers or intermediaries based on the result of the public issuance and listing of stocks.
发行人申请公开发行股票时，应当在所报送的招股说明书或者其他相关信息披露文件中详细列明各类中介服务收费标准、金额以及发行人付费安排等信息。
When applying for public issuance of stocks, the issuer shall detail in the submitted prospectus or other relevant information disclosure documents the fee standards, amounts, and the issuer's payment arrangements for various intermediary services.
证券监督管理、财政、司法行政等部门应当加强信息沟通和协调配合，按照职责分工，依法对中介机构执业行为加强监管；必要时可以采取联合现场检查等措施，依法查处违法违规行为。
The securities regulatory, finance, and judicial administration departments shall strengthen information communication and coordination, and in accordance with their respective responsibilities, strengthen supervision over the practice of intermediaries; when necessary, they may take measures such as joint on-site inspections to investigate and punish illegal and non-compliant acts in accordance with the law.
中介机构违反本规定的，由证券监督管理、财政、司法行政、市场监督管理等部门按照职责分工责令改正，给予警告，没收违法所得，可以并处违法所得1倍以上10倍以下罚款；没有违法所得或者违法所得不足10万元的，可以并处10万元以上100万元以下罚款；对直接负责的主管人员和其他直接责任人员给予警告，可以并处10万元以上100万元以下罚款。法律另有规定的，从其规定。
If an intermediary violates these Provisions, the securities regulatory, finance, judicial administration, and market supervision departments shall, in accordance with their respective responsibilities, order correction, issue a warning, confiscate illegal gains, and may impose a fine of not less than one time but not more than ten times the illegal gains; if there are no illegal gains or the illegal gains are less than 100,000 yuan, a fine of not less than 100,000 yuan but not more than 1 million yuan may be imposed; the directly responsible supervisors and other directly responsible personnel shall be given a warning and may be fined not less than 100,000 yuan but not more than 1 million yuan. If other laws provide otherwise, those provisions shall prevail.
中介机构从业人员违反本规定第九条规定的，由证券监督管理、财政、司法行政等部门按照职责分工责令改正，给予警告，没收违法所得，可以并处违法所得1倍以上10倍以下罚款；没有违法所得或者违法所得不足10万元的，可以并处10万元以上100万元以下罚款；情节严重的，可以并处暂停从事相关业务1个月至1年。法律另有规定的，从其规定。
If a practitioner of an intermediary violates Article 9 of these Provisions, the securities regulatory, finance, and judicial administration departments shall, in accordance with their respective responsibilities, order correction, issue a warning, confiscate illegal gains, and may impose a fine of not less than one time but not more than ten times the illegal gains; if there are no illegal gains or the illegal gains are less than 100,000 yuan, a fine of not less than 100,000 yuan but not more than 1 million yuan may be imposed; if the circumstances are serious, the practitioner may also be suspended from engaging in relevant business for a period of not less than one month but not more than one year. If other laws provide otherwise, those provisions shall prevail.
发行人违反本规定第十一条规定的，由证券监督管理机构责令改正，给予警告，可以并处10万元以上100万元以下罚款；对直接负责的主管人员和其他直接责任人员给予警告，可以并处10万元以上100万元以下罚款。发行人的控股股东、实际控制人组织、指使从事上述违法行为，或者隐瞒相关事项导致发生上述情形的，处10万元以上100万元以下罚款；对直接负责的主管人员和其他直接责任人员给予警告，并处10万元以上100万元以下罚款。
If an issuer violates Article 11 of these Provisions, the securities regulatory authority shall order correction, issue a warning, and may impose a fine of not less than 100,000 yuan but not more than 1 million yuan; the directly responsible supervisors and other directly responsible personnel shall be given a warning and may be fined not less than 100,000 yuan but not more than 1 million yuan. If the controlling shareholder or actual controller of the issuer organizes or instructs the commission of the above illegal acts, or conceals relevant matters leading to the above circumstances, a fine of not less than 100,000 yuan but not more than 1 million yuan shall be imposed; the directly responsible supervisors and other directly responsible personnel shall be given a warning and fined not less than 100,000 yuan but not more than 1 million yuan.
国务院证券监督管理机构依法将中介机构遵守本规定的情况纳入证券市场诚信档案。
The securities regulatory authority of the State Council shall, in accordance with the law, include the compliance of intermediaries with these Provisions in the credit record of the securities market.
自本规定施行之日起，地方各级人民政府违反本规定第十条规定，给予发行人或者中介机构奖励的，应当追回，并由有关机关对负有责任的领导人员和直接责任人员依法给予处分。
From the date of implementation of these Provisions, if local people's governments at all levels violate Article 10 of these Provisions and grant rewards to issuers or intermediaries, such rewards shall be recovered, and the relevant authorities shall impose sanctions on the responsible leaders and directly responsible personnel in accordance with the law.
中介机构为公司公开发行存托凭证、可转换为股票的公司债券提供服务的，参照适用本规定。
These Provisions shall apply mutatis mutandis to the provision of services by intermediaries for the public issuance of depositary receipts and convertible corporate bonds.
国务院证券监督管理、财政、司法行政等部门可以根据本规定制定实施办法。
The securities regulatory, finance, and judicial administration departments of the State Council may formulate implementation measures in accordance with these Provisions.
本规定自2025年2月15日起施行。
These Provisions shall take effect on February 15, 2025.