(1) The issuer is a joint stock limited company established according to law and continuously operating for more than three years.
Where a limited liability company is converted into a joint stock limited company according to the original book net asset value, the time for continuous operation can be calculated from the date of establishment of the limited liability company.
(2) It has been making profits continuously in the last two years, and the accumulated net profit in the last two years is not less than10 million yuan, and it has been growing continuously; Or profit in the last year, and the net profit is not less than 5 million yuan, the operating income in the last year is not less than 50 million yuan, and the growth rate of operating income in the last two years is not less than 30%. Net profit is calculated at the lower before and after deducting non-recurring gains and losses.
(3) The net assets at the end of the latest period are not less than 20 million yuan, and there are no uncompensated losses.
(4) The total share capital after issuance shall not be less than 30 million yuan.
Article 11 The registered capital of the issuer has been paid in full, and the procedures for the transfer of property rights of assets contributed by the promoters or shareholders have been completed. There is no major ownership dispute over the issuer's main assets.
Article 12 An issuer shall mainly engage in one kind of business, and its production and business operation activities shall conform to the provisions of laws, administrative regulations and the articles of association, as well as the national industrial policy and environmental protection policy.
Article 13 The issuer's main business, directors and senior management personnel have not changed significantly in the last two years, and the actual controller has not changed.
Article 14 An issuer shall have the ability to make profits continuously, and the following circumstances do not exist:
(a) the issuer's business model, product or service product structure has undergone or will undergo major changes, which have a significant adverse impact on the issuer's sustainable profitability;
(2) The industry status of the issuer or the operating environment of the industry in which the issuer is located has undergone or will undergo major changes, which has a significant adverse impact on the issuer's sustainable profitability;
(3) The acquisition or use of important assets or technologies such as trademarks, patents, proprietary technologies and franchise rights that are being used by the issuer is at risk of major adverse changes;
(4) The issuer's operating income or net profit in the latest year is heavily dependent on related parties or customers with significant uncertainties;
(5) The net profit of the issuer in the latest year mainly comes from the investment income outside the scope of the consolidated financial statements;
(six) other circumstances that may have a significant adverse impact on the issuer's sustainable profitability.
Article 15 An issuer pays taxes according to law, and the tax preferences it enjoys comply with the provisions of relevant laws and regulations. The operating performance of the issuer does not depend heavily on tax incentives.
The basic process of enterprise listing
Generally speaking, if an enterprise wants to be listed on the domestic securities market, it must go through three stages: comprehensive evaluation, standardized reorganization and formal start-up. The main work is as follows:
Comprehensive evaluation of enterprises before listing in the first stage
Listing of enterprises is a complex financial engineering and system engineering. Compared with traditional project investment, it also needs to go through the process of pre-demonstration, organization and implementation and post-evaluation, and it also faces the path choice of whether to list in the capital market and in which market. Listed in different markets, enterprises have to do different jobs, channels and risks. Only through the comprehensive evaluation of enterprises can we ensure that listed enterprises can operate correctly under the condition of controllable costs and risks. For enterprises, it is also a price to organize and mobilize a large number of personnel and mobilize all aspects of strength and resources to work. Therefore, in order to ensure the success of the listing, the enterprise will first conduct a comprehensive analysis and research on the above issues, and carefully give opinions, and then fully start the work of the listing team after getting a clear answer.
The second stage is the reorganization of enterprise internal norms.
There are hundreds of key issues involved in the initial public listing of enterprises. Especially in the specific environment of China, there are many historical issues left by private enterprises, such as finance, taxation, law, corporate governance and historical evolution. And many problems in the later period are quite difficult to deal with. Therefore, it is very important for enterprises to deal with some problems in advance in a planned and step-by-step manner with the assistance of listed financial consultants on the basis of completing the preliminary evaluation. Through this work, sponsors and strategies can also be strengthened.
The third stage officially launched the listing work.
Once the listing target is determined, the enterprise begins to enter the practical operation stage of the external work of listing, which mainly includes: selecting relevant intermediaries, carrying out shareholding system reform, auditing and legal investigation, brokerage counseling, issuance declaration, issuance and listing, etc. Because the listing work involves five or six external intermediary service agencies working at the same time, the personnel involve dozens of people. Therefore, it is very difficult to organize and coordinate, which requires multi-party coordination.