预测性信息披露制度是证券信息披露制度的一个难点。一方面,由于预测性信息具有风险性和不确定性的特点,易误导投资者,必须严格规范发行人的披露行为;另一方面,此类信息对于投资者作出相应的投资判断有很大帮助,因此又应鼓励该信息的披露。预测性信息披露制度必须尽可能地在二者之间寻求一个均衡点。 Predictive information disclosure system is a difficult point of securities information disclosure system. On the one hand, because of the riskiness and uncertainty of predictive information, it is easy to mislead investors, and the issuer’s disclosure must be strictly regulated. On the other hand, such information is very helpful to investors in making corresponding investment judgment Therefore, the disclosure of this information should be encouraged again. Predictive information disclosure system must try to find a balance between the two.