What are the requirements for mergers and acquisitions of listed companies?

Legal analysis: 1. Where a state-owned shareholder participates in the merger and reorganization of a listed company, it shall obtain the approval documents from the competent department of state-owned assets at the corresponding level in accordance with the relevant provisions of the Interim Regulations on the Supervision and Administration of State-owned Assets of Enterprises and other state-owned assets management;

2, involving the inflow or outflow of state-owned assets from listed companies, it should be in accordance with the requirements of the Interim Measures for the Administration of State-owned Assets Evaluation of Enterprises and other normative documents, and obtain the approval or filing documents of the evaluation results of state-owned assets at the corresponding level;

3. Foreign investors who make strategic investments in listed companies shall obtain the approval of the Ministry of Commerce in principle in accordance with the Measures for the Administration of Strategic Investments by Foreign Investors in Listed Companies and other relevant regulations;

Legal basis: Notice on Regulating Matters Related to Assets Reorganization of State-owned Shareholders and Listed Companies Article 2 The assets reorganization of state-owned shareholders and listed companies shall follow the following principles:

(a) is conducive to promoting the preservation and appreciation of state-owned assets, in line with the development strategy of state-owned shareholders;

(2) It is conducive to improving the quality and core competitiveness of listed companies;

(3) The ownership of the underlying assets is clear, and there are no legal obstacles to the delivery or transfer of assets;

(4) The pricing of basic assets should conform to the principle of marketization, which is conducive to safeguarding the legitimate rights and interests of all kinds of investors.