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Article 9
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Company operation (supplementing Article 19 of the Prospectus Regulations):
- Where the listing application is filed in accordance with Article 4, paragraph 2 or 3, or Article 28-1, paragraph 5 or 6 of the Listings Review Rules, the information about operation model and its risks, and the future development plan shall be added.
- Where the listing application is filed by the applicant as a technology enterprise, the following information shall be added:
- On market and production and sale, an R & D plan containing an analysis of product technology and sustainable development, including:
- The level, source, protection (patent rights and status of legal protection), and upgrading of production and development technology of products.
- The competitive edge, life cycle and potential for sustainable development of current major products and the R & D plans for new products.
- Where the enterprise is in the biotechnology industry, pharmaceutical industry, or medical-apparatus industry, the following information shall be added: the fact that it has obtained license from the Competent Authority according to laws and regulations for conducting clinical trials on human bodies or field experiments or for domestic engagement in R & D in the biotechnology industry or medical-apparatus industry; track records of the production and sale of products or provision of technical services in connection with biotech or medical apparatus; together with the ratio of the operating revenue and R & D cost of the products and related technical services to the total operating revenue of the company in the most recent year.
- Where a company terminated part of its business, spun off part of its business into independent companies, or was transferred to or merged with other companies in the year prior to applying for a listing due to business adjustment, the following information shall be added: the businesses terminated, transferred or merged; currently existing businesses; and the ratio of the operating revenue and R & D cost of the currently existing businesses to the total operating revenue of the company in the preceding year.
- With regard to the number of operating personnel in the most recent two years, information reflecting the turnover of officers, technical and R & D personnel, and other employees shall be added.
- Where the listing application is filed according to provisions governing information software enterprises: In addition to matters prescribed in Item A and D of the preceding subparagraph, the following information shall be added: future stability and growth of profits and subject items for research, R & D budget and business development projects for the most recent five years and next five years.
- Where the company files the listing application as an investment holding or financial holding company, in addition to its management and investment strategies, the applicant shall further include the operation and profits of each of its controlled companies or subsidiaries regarding the market and production and sale.
- Where the company files the listing application as a venture capital company, the applicant shall describe the operations and investment decisions of the applicant company (and must include the investment object policies, strategies, scope, regions, decision-making process, and the principles and methods for exercising voting rights), and additionally describe item-by-item the operations and profits with respect to the markets and the production/sales of each investee company.
- Where the company files the listing application in accordance with Article 6-1 of the Listings Review Rules, besides a general description of its operation and its business plans, the following information shall be added:
- Construction plans and feasibility analyses.
- Financial plans for construction periods (including forecasts for cash flow and plans for capital increase, capital decrease, loans, and debt service).
- Risk management plans for constructions periods.
- Business plans and related assumptions.
- Financial plans for operational phases (including forecasts for the operating revenue, operational costs and profits, financial forecasts, and plans for capital increase, capital decrease, loan and debt service for the first five years of the operational phase), unless the company has already commenced operation by the time it files the listing application.
- A domestic issuing company or foreign issuer applying for the initial listing of stocks on the Taiwan Innovation Board shall additionally provide the following information:
- Market and production and marketing: Said company shall additionally provide an analysis of the core technologies of products and ongoing research and development plans, including:
- levels, sources, assurances (patent rights and legal protections available), and upgrades of product production and development technologies.
- competitive edge, shelf lives, and capacities for continued development of current major products, and research and development plans of new products.
- If in the biotechnology and medicine industry, said company shall additionally advise the clinical trial progress of its core products.
- as regards the number of active employees in the most recent two years, said company shall additionally advise the turnovers of officers, technology and R & D personnel, and other employees.
- An issuing company shall add the following information:
- Whether the company has the ability to adjust itself to meet any changes in the economic environment.
- Whether the transactions among the issuing company and persons related to its subsidiaries are reasonable. (This requirement does not apply to business transactions conducted by public enterprises in accordance with the Audit Act.)
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