Regarding the officially released "Guiding Opinions," the spokesperson addressed the addition of the statement, "adjust share issuance policies appropriately to increase the number of shares available for trading." The spokesperson said that adjustments to the lock-up period for offline allocation and the implementation of secondary issuance align with the direction of market-oriented reforms. "Especially the adjustment of the three-month lock-up period for offline allocations, which increases the tradable volume on the first day of listing, is in line with the direction of reform."
In overseas mature markets, it is common to combine secondary issuance with the "green shoe" mechanism. In response to this, the spokesperson clearly stated, "In the next step, these matters will be considered. At this stage, we will first promote the four near-term reform measures proposed in the 'Guiding Opinions.'"