By the end of 2023, according to Baidu Encyclopedia, a company's listing needs to meet the following conditions: the shares have been approved by the the State Council securities regulatory authority for public offering. The company's total share capital is not less than RMB 30 million, and it has been operating continuously for more than 3 years. Anhui Huaihai Industry cannot be listed because it does not meet the above conditions.
Listing is a term in the securities market. In a narrow sense, listing is the initial public caffengs(IPO initial public offering), which refers to the process that enterprises issue shares to investors for the first time through the stock exchange in order to raise funds for enterprise development.