Responsibilities of the General Manager of a NEEQ-Listed Company:What are the primary responsibilities of the General Manager of a NEEQ-listed company?

Q: What are the primary responsibilities of the General Manager of a NEEQ-listed company?

A: Under the 2026 NEEQ Listing Rules and the Company Law of the People's Republic of China (2023 revision), the General Manager of a NEEQ-listed company (New Third Board) is appointed by and accountable to the Board of Directors. Core responsibilities include: (1) presiding over the company's production and operations, and organizing implementation of board resolutions; (2) organizing implementation of the company's annual operational and investment plans; (3) drafting internal management structures and basic management systems; (4) submitting proposals to the board regarding appointing or dismissing deputy general managers and financial officers; and (5) other powers granted by the company's Articles of Association and the board. The 2026 NEEQ regulatory guidance further requires the General Manager to ensure information disclosure materials are authentic, accurate, and complete, and to cooperate with the sponsor securities firm's continuous supervision.

Q: How does the 2026 NEEQ Listing Rules regulate the General Manager's information disclosure duties?

A: According to the 2026 NEEQ Listing Rules (Revised) issued by the National Equities Exchange and Quotations, the General Manager, as a key management member, bears direct responsibility for the company's information disclosure. Article 1.5 of the rules requires the General Manager to ensure disclosure documents contain no false records, misleading statements, or major omissions. In practice, the General Manager must sign written confirmation opinions on periodic reports (annual and semi-annual reports) and interim reports. If the General Manager cannot guarantee authenticity, they must state reasons and opinions and disclose them. The 2026 rules also mandate the General Manager to cooperate with the sponsor institution's on-site inspections and promptly report any major events that may affect stock prices. Violations may lead to regulatory measures such as public censure, warnings, and fines.

Q: What are the legal liabilities of the General Manager of a NEEQ-listed company under 2026 regulations?

A: Under the 2026 NEEQ Listing Rules and China's revised Securities Law, the General Manager of a NEEQ-listed company faces both administrative and civil liabilities. Administratively, the NEEQ may impose disciplinary actions including public censure, warnings, or fines for violations such as failing to perform duties diligently, causing false information disclosure, or failing to cooperate with supervision. Civilly, the General Manager may be jointly liable for investor losses caused by illegal disclosure, as stipulated in Article 85 of the Securities Law. If the General Manager violates duties causing serious losses to the company, they may bear compensation liability under the Company Law. In severe cases, such as fraudulent issuance or major information disclosure violations, criminal liability may apply. The 2026 rules emphasize a 'double responsibility' system for both the company and its key management.

Q: What is the relationship between the General Manager and the Board of Directors in a NEEQ-listed company in 2026?

A: In a NEEQ-listed company, the General Manager is appointed by the Board of Directors and is accountable to both the Board and the company. The 2026 NEEQ Listing Rules clarify a separation of decision-making and execution: the Board is responsible for major decisions, while the General Manager handles daily operations. The General Manager must implement board resolutions, report regularly on operational and financial performance, and cannot exceed authorized powers. The Board supervises the General Manager through performance evaluations and can dismiss them for cause. Conversely, the General Manager can attend board meetings (as a non-voting attendee unless also a director) and propose motions. The 2026 rules also require the General Manager to cooperate with the Board's independent directors and audit committee, ensuring checks and balances. This structure aims to improve governance and protect investors.

Dialogue about

Common scenarios of "Responsibilities of the General Manager of a NEEQ-Listed Company"

【Interviewer】 Welcome, Mr. Li. Today we're discussing the responsibilities of a general manager in a NEEQ-listed company. Could you start by outlining the primary responsibilities?

【General Manager】 Thank you. As the general manager of a NEEQ-listed company, my core responsibilities include executing the board's decisions, managing daily operations, and ensuring compliance with NEEQ regulations. I also oversee strategic planning, financial performance, and stakeholder communication.

【Interviewer】 How does the role differ from that of a general manager in a non-listed company?

【General Manager】 The key difference is the heightened regulatory and disclosure requirements. NEEQ-listed companies must adhere to strict information disclosure rules, corporate governance standards, and investor relations practices. This adds layers of accountability and transparency to my role.

【Interviewer】 Can you elaborate on the compliance aspects?

【General Manager】 Certainly. Compliance involves ensuring that all company actions align with the NEEQ's rules, such as timely financial reporting, accurate disclosure of material events, and adherence to insider trading regulations. I work closely with our board secretary and legal team to maintain these standards.

【Interviewer】 What about corporate governance? How do you ensure effective governance?

【General Manager】 Effective governance starts with a clear separation of powers. The board sets strategy, while management executes it. I ensure that our internal controls are robust, that we have independent directors, and that committees like audit and compensation function properly. Regular board meetings and transparent reporting are essential.

【Interviewer】 How do you handle investor relations?

【General Manager】 Investor relations are crucial for a NEEQ-listed company. I engage with investors through regular earnings calls, roadshows, and timely disclosures. We also maintain an open dialogue to address concerns and build trust. Transparency is key to maintaining investor confidence.

【Interviewer】 What are the challenges in managing a NEEQ-listed company?

【General Manager】 Challenges include balancing growth with regulatory compliance, managing limited resources, and navigating the less liquid market compared to main boards. Additionally, the NEEQ market is more volatile, so strategic agility is vital. We must also constantly educate ourselves on evolving regulations.

【Interviewer】 How do you drive growth while ensuring compliance?

【General Manager】 Growth and compliance are not mutually exclusive. I integrate compliance into our strategic planning. For instance, before pursuing a new venture, we assess regulatory implications. We also invest in training to embed a compliance culture. This way, we can seize opportunities without cutting corners.

【Interviewer】 What role does the general manager play in financial management?

【General Manager】 I oversee financial planning, budgeting, and reporting. Ensuring accurate and timely financial statements is critical for NEEQ compliance. I work with the CFO to monitor cash flow, manage costs, and optimize capital structure. We also prepare for audits and ensure financial transparency.

【Interviewer】 How do you handle risk management?

【General Manager】 Risk management is a continuous process. We identify risks across operations, finance, and compliance. I lead the development of mitigation strategies and ensure that our risk management framework is robust. Regular risk assessments and scenario planning help us stay prepared.

【Interviewer】 What about stakeholder communication, such as with employees and customers?

【General Manager】 Stakeholder communication is multifaceted. With employees, I focus on transparent internal communication to align everyone with our goals. For customers, we prioritize quality and service. With regulators, we maintain open lines. Each group requires a tailored approach to build and maintain trust.

【Interviewer】 How do you measure success in your role?

【General Manager】 Success is measured by achieving strategic objectives, maintaining compliance, and delivering shareholder value. Key performance indicators include revenue growth, profitability, compliance metrics, and investor satisfaction. Ultimately, success means sustainable growth and a strong reputation in the market.

【Interviewer】 Any final advice for aspiring general managers of NEEQ-listed companies?

【General Manager】 My advice is to embrace transparency, invest in compliance, and build a strong team. Understand the regulatory landscape deeply and never compromise on integrity. Also, stay agile and communicate effectively with all stakeholders. It's a challenging but rewarding role.