Legal basis: Measures for the Administration of Major Asset Restructuring of Unlisted Public Companies Article 10 After a public company issues shares to a specific target to purchase assets, it shall prepare application documents and apply for approval after the resolution of the shareholders' meeting. After accepting the application documents, China Securities Regulatory Commission shall conduct an audit according to law, and make a decision on approval, suspension of audit, termination of audit and disapproval within 20 working days.