The main difference between state-owned enterprises and listed companies lies in ownership and operation mode. State-owned enterprises are owned by the state and are usually managed and operated by government departments or their subsidiaries. Listed companies are owned and operated by independent legal entities, and their ownership is distributed to public shareholders through securities such as stocks or bonds. In addition, the operation and management of listed companies are more transparent and need to follow strict information disclosure and compliance requirements.
State-owned enterprises refer to wholly state-owned enterprises, wholly state-owned companies and state-owned capital holding companies that the State Council and local people's governments perform the responsibilities of investors on behalf of the country respectively, including enterprises at the same level and enterprises formed by investment step by step under the supervision of central and local state-owned assets supervision and administration institutions and other departments.
As an organizational form of production and operation, state-owned enterprises have both commercial and public welfare characteristics. Its commerciality is reflected in the pursuit of maintaining and increasing the value of state-owned assets, and its commonweal is reflected in the fact that the establishment of state-owned enterprises is usually to achieve the goal of national economic regulation and play a role in coordinating the development of all aspects of the national economy.
For the state-owned enterprises in China, those who invest or hold more than 50% of the state-owned assets are state-owned enterprises. These enterprises are usually registered according to the Regulations on the Administration of Registration of Enterprise Legal Persons in People's Republic of China (PRC), and the main body of assets invested is the state-owned assets management department, that is, state-owned enterprises.
For more information, please check the relevant contents of the Chinese government website.
A listed company refers to a joint stock limited company whose shares are listed and traded on a stock exchange. These companies usually issue shares in the open market, thus becoming listed companies. Listed companies usually need to comply with strict information disclosure and compliance requirements to ensure the transparency and fairness of their operations.
Listed companies have some advantages, including:
Raising funds: By issuing stocks, listed companies can raise funds to expand their business, develop new products or repay debts.
Raise awareness: The shares of listed companies are traded on the stock exchange, so their business and financial situation will be widely concerned, and the visibility of enterprises will be improved.
Increase shareholders' income: the share price of listed companies is usually affected by the relationship between market supply and demand. If the company's performance is good, the stock price may rise, bringing benefits to shareholders.
Easy financing: listed companies are usually more likely to get support from bank loans and other financing channels.
However, listed companies also need to bear some risks and responsibilities, including:
Information disclosure requirements: listed companies need to comply with strict information disclosure requirements, including public financial reports and announcements of major events. To meet the needs of investors.
Compliance requirements: listed companies need to comply with various legal and regulatory requirements, including the Securities Exchange Law and the Company Law.
Risk of stock price fluctuation: the stock price of listed companies may be affected by market fluctuation, which will lead to the fluctuation of enterprise value and affect shareholders' income.
Pressure of public supervision: The operation and decision-making of listed companies are widely concerned and may face public supervision and pressure.
In a word, a listed company is an enterprise organization with advantages and risks, which is suitable for those enterprises that want to expand their scale, improve their popularity and need to raise funds. To sum up, there are obvious differences between state-owned enterprises and listed companies in ownership, operation mode, transparency and compliance requirements.
Legal basis:
1. Article 3 of the Company Law of People's Republic of China (PRC): "Shareholders of a limited liability company shall be liable to the company to the extent of their subscribed capital contribution; Shareholders of a joint stock limited company shall be liable to the company to the extent of the shares subscribed by them.
2. Article 4 of the Company Law of People's Republic of China (PRC): "Shareholders of the company shall enjoy the right to return on assets, participate in major decision-making and choose managers according to law."
3. Article 5 of the Securities Law of People's Republic of China (PRC): "Securities issuance and trading activities must abide by laws and administrative regulations; Illegal acts such as fraud, insider trading and manipulation of the securities market are prohibited. "