Many people have heard of the new term "New Third Board". The New Third Board may bring huge wealth, but it may also expose investors to risks. 1. What is the listing of the New Third Board? The third board market originated from 200 1 "equity agency transfer system". The earliest company to undertake two networks and delisting companies is called the "third board". In 2006, the unlisted joint-stock companies in Zhongguancun Science Park entered the agency transfer system to transfer their shares, which was called the "New Third Board". With the gradual improvement of the New Third Board market, China will gradually form a multi-level capital market system including main board, growth enterprise market, OTC network and property rights market. Second, what are the conditions for the listing of the New Third Board? Listing conditions of the New Third Board: 1. Meet the conditions for the existence of the New Third Board for two years. (The overall restructuring of a limited company can be calculated continuously); 2. The main business of the New Third Board is outstanding and it has a record of going concern; Conditions that must be met. 3. The NEEQ listed companies have sound governance structure and standardized operating conditions; 4. The issuance and transfer of shares of listed companies on the New Third Board are legal and compliant; 5. The registered address of the new third board listed company is in the pilot national high-tech park; 6. The local government issued a confirmation letter for the pilot qualification of listing the New Third Board. The listing of the New Third Board needs to meet the following requirements: 1, and the main qualification listing requirements: the listed company of the New Third Board must be an unlisted joint stock limited company. 2. Operation life requirement: the duration must be two years. 3. Profitability requirements of the companies listed on the New Third Board: They must have stable and continuous operation ability. 4. Asset requirements: unlimited. 5. Main business requirements: The main business must be prominent. 6. Requirements for growth and innovation ability: Zhongguancun high-tech enterprises will gradually expand the pilot scope to other high-tech industrial development zones. Third, how to go to 1 and find an intermediary in the process of listing the New Third Board (2 to 3 months). Intermediaries listed on the New Third Board include sponsoring brokers, accounting firms (including evaluation agencies) and law firms, among which sponsoring brokers are the core link. Selection criteria: the headquarters or branch teams of large securities firms directly connect with the project leader, and the project leader has more than two successful listing cases. Don't look for brokerage executives, promote them in a top-down way. Accountants and lawyers are best recommended by brokers to minimize the cost of coordination between intermediaries. 2. Brokers and intermediaries enter the site to make initial adjustment (65,438+0 months). After the intermediary agency is determined, the brokerage firm will generally take the lead and take the lead in accounting to sort out and adjust the company's finance in the early stage. It is suggested that enterprises show the most real situation to accountants, and don't hide the truth with luck. Intermediaries are service providers to help enterprises solve problems, not punishment agencies of regulatory authorities. After the accountant does his best, he will collect the problems found, and the project leader of the brokerage firm will organize an intermediary agency coordination meeting to discuss the problems found by the accountant, give a draft plan, and initially set the basic date for the share reform. 3. The enterprise will rectify as planned, and the intermediary agency will provide personal guidance (3 to 5 months). Brokers, accountants and lawyers will discuss and solve the core problems that have been initially adjusted with the enterprise, and brokers will play a central role in adjusting and finalizing the plan. Whether an enterprise can be listed on the New Third Board is often the most critical link. 4. After the submission of materials for share reform is completed (4 months), the shareholding system reform can be carried out after the rectification of enterprise problems is completed. The accountant issues an audit report, the appraiser issues an evaluation report, the lawyer issues a legal opinion, and the securities firm enters the site to complete the production of application materials. After that, it was formally submitted to the national small and medium-sized enterprise share transfer system (New Third Board) through the brokerage core. 5. Feedback and list (2 to 3 months). Within 1 month after the materials are submitted, the regulatory authorities will issue feedback opinions on the company's special problems, requiring enterprises and intermediaries to complete the feedback reply within 10 working days. During this period, the work is generally tense. The usual practice is that in the first week, all the intermediaries Qi Xin work together to reply to the feedback answers; Finalized in the second week, through the brokerage core, go through the process and seal. It is necessary for the person in charge of the brokerage firm to have strong overall coordination ability in time and organization. Finally, the regulatory authorities issued a letter of consent to the listing, and the enterprise can be listed on the New Third Board after completing the securities registration. I hope the above contents are helpful.
Legal objectivity:
Company Law of the People's Republic of China
Article 12 1
If a listed company purchases or sells major assets within one year or the amount of guarantee exceeds 30% of the company's total assets, it shall make a resolution at the shareholders' meeting, which shall be passed by more than two-thirds of the voting rights held by the shareholders present at the meeting.