China Business Start-up Service
Hotline: 86-755-82143348, Email:tannet-solution@hotmail.com
ATAHK reads from China Daily that China eases ChiNext Board IPO restrictions to help financing of startups. For details, please refer to the following news from China Daily on May 17th, 2014:
China announced on Friday that it will loosen grips on the approval of initial public offerings (IPOs) on the ChiNext Board, the country's NASDAQ-style board, to help financing of startups.
Restart of IPOs
Rules over the financial conditions of pre-listed companies are set to be eased, as requirements concerning revenue and net profit increases were replaced by milder regulations, according to the announcement of the China Securities Regulatory Commission (CSRC).
Under the new regulations, enterprises only have to prove they have made profits for two consecutive years, with total profits no less than 10 million yuan ($1.62 million), or that they have achieved profits in the previous year with revenue higher than 50 million yuan.
The CSRC said the new rules are more consistent with features of innovative small and medium-sized enterprises and will benefit more businesses in the future.
Meanwhile, the securities regulator strengthened information disclosure and monitoring over issuers and intermediaries.
If you have any queries on China IPO, you can rely on ATAHK for help. You can contact us simply by calling us at 86-755-82143422 or emailing to tannet-solution@hotmail.com