First, if you have a basic assessment of your own company and think that it meets the listing conditions, or temporarily does not meet the listing conditions, you can hire intermediaries such as securities companies (brokers), accounting firms and law firms to do due diligence on the basic situation of the company and form a listing plan. The preparatory stage need not be invited by all three institutions.
Second, carry out rectification according to the problems found in the due diligence of intermediaries. Then the limited liability company was reformed into a joint stock limited company after being audited by an accountant and evaluated by an asset appraisal institution. After the restructuring, it filed with the local securities regulatory bureau, issued an announcement to receive counseling, and entered the stage of listing counseling.
Third, if the company needs financing in the process of listing, it can introduce equity investment.
Fourth, intermediaries conduct detailed due diligence on the company, continuously find problems and rectify them. Brokers make prospectus and other documents, accountants issue audit reports and lawyers issue legal opinions. After the counseling stage, apply to the local securities regulatory bureau for counseling and acceptance. After acceptance, you can submit the listing application materials to the China Securities Regulatory Commission.
Fifth, after accepting the application, the CSRC will enter the examination stage, and after going through the procedures of meeting, feedback and preliminary examination, it will be submitted to the issuance examination Committee for voting, and after being approved by the CSRC, the shares can be issued.
Sixth, after issuing shares, you can apply to the stock exchange for listing and trading, and you can go public.
The specific threshold is more complicated, which is related to the selected listing sector. You can refer to the Measures for the Administration of Initial Public Offerings and the Interim Measures for the Administration of Initial Public Offerings on the Growth Enterprise Market. The former file applies to the main board and small and medium-sized board, and the latter file applies to the Growth Enterprise Market. At present, the requirements of several sectors for the company's performance are still relatively high. In practice, the net profit of small and medium-sized enterprises on the main board is generally required to be 50 million, and that of the Growth Enterprise Market is 30 million. This is only a guide, not a mandatory indicator. Of course, you can also choose to go to the New Third Board and list on the national share transfer system for small and medium-sized enterprises. This threshold is much lower.