China Company Incorporation service
Hotline: 86-755-82147392, Email:info@citilinkia.com
About the IPO process, having sophisticated and experienced professionals are critical to successful listing as the company will be faced with challenges of extensive listing rules and regulations from the regulatory authorities.
1. What are the offering criteria for SZSE in China ?
Under the Securities Law, a company applying for public offering of new shares shall meet the following requirements:
(1) It shall have a proper and well-operating organizational structure;
(2) It shall have sustainable profitability and sound financial position;
(3) In the past three years, there have been no falsehoods in its financial statements, and it has not committed any other serious illegal acts; and
(4)Other requirements prescribed by the securities regulatory authority approved by the State Council.
2. What are the listing criteria for SZSE?
1) Listing on the Main Board and SME Board
Under the Measures on the Administration of Initial Public Offerings and Listings of Shares, a company seeking IPO and listing on the Main Board shall meet the following specific requirements:
(1) It must have been profitable in the last three consecutive years with net profits no less than RMB 30 million in aggregate; the net profits shall be calculated based on the amount before and after deducting non-recurring profits and losses, whichever is smaller;
(2) The net cash flow from business operation in the last three years shall exceed RMB 50 million in aggregate; or the revenue in the last three financial years shall exceed RMB 300 million in aggregate;
(3) The total share capital before the offer shall not be less than RMB 30 million;
(4) The intangible assets as at the end of the last reporting period (after deducting land use rights, aquaculture rights, mining rights, etc.) shall not account for more than 20% of the net assets;
(5) There shall be no uncovered losses as at the end of the last reporting period;
(6) Its performance results shall not be heavily reliant on tax benefits;
(7) It shall be free from any serious debt service risk;
(8) It shall be free from the risk of significant contingent events; and
(9) Requirement on sustainable profitability. The issuer may not fall under any of the following circumstances that would have a significant adverse impact on its sustainable profitability:
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