What are the listing requirements for small companies?

Legal analysis: A joint stock limited company applying for listing its shares shall meet the following conditions: (1) The shares have been publicly issued with the approval of the State Council Securities Regulatory Authority; (2) The total share capital of the company is not less than 30 million yuan; (3) The publicly issued shares account for more than 25% of the total shares of the company; If the company's total share capital exceeds 400 million yuan, the proportion of publicly issued shares is more than 10%; (4) The company has no major illegal acts in the last three years, and its financial and accounting reports have no false records. A stock exchange may prescribe listing conditions higher than those prescribed in the preceding paragraph, and report them to the the State Council securities regulatory authority for approval.

Legal basis: Securities Law of People's Republic of China (PRC).

Article 11 To set up a joint stock limited company to publicly issue shares, it shall meet the conditions stipulated in the Company Law of People's Republic of China (PRC) and other conditions stipulated by the securities regulatory authority of the State Council approved by the State Council, and submit an application for offering shares and the following documents to the securities regulatory authority of the State Council:

(1) Articles of Association;

(2) Sponsor agreement;

(3) The name of the promoters, the number of shares subscribed by the promoters, the type of capital contribution and the capital verification certificate;

(4) the prospectus;

(5) The name and address of the bank that collects the shares;

(6) The name of the underwriting institution and relevant agreements.

Where a sponsor is hired in accordance with the provisions of this law, a letter of recommendation for issuance issued by the sponsor shall also be submitted.

Where laws and administrative regulations stipulate that the establishment of a company must be approved, the corresponding approval documents shall also be submitted.

Article 12 The initial public offering of new shares issued by a company shall meet the following conditions:

(1) Having a sound organizational structure;

(2) It has the ability of continuous operation;

(3) The financial and accounting reports of the last three years have been issued with unqualified audit reports;

(4) The issuer and its controlling shareholder or actual controller have not committed any criminal acts of corruption, bribery, embezzlement, misappropriation of property or disturbing the order of the socialist market economy in the last three years;

(5) Other conditions as stipulated by the the State Council Securities Regulatory Authority approved by the State Council.

When a listed company issues new shares, it shall meet the requirements stipulated by the securities regulatory authority of the State Council approved by the State Council, and the specific management measures shall be stipulated by the securities regulatory authority of the State Council.

The public offering of depositary receipts shall meet the conditions for the initial public offering of new shares and other conditions stipulated by the the State Council Securities Regulatory Authority.