A joint stock limited company has the following legal characteristics: (1) A joint stock limited company is a typical joint venture company, and its credit is entirely based on capital. (2) The conditions for the establishment of a joint stock limited company are relatively strict. (3) The company limited by shares has a strict internal organization. (4) The shares of a joint stock limited company are equal. (5) The shares of a joint stock limited company are in the form of shares. Stock is a kind of valuable securities, which can circulate in the securities market. Anyone who buys shares can become a shareholder of the company, and shareholders can freely transfer shares in the market. (6) A joint stock limited company is an enterprise legal person and independently bears civil liability according to law.
To establish a joint stock limited liability company, the following conditions shall be met: (1) The promoters meet the statutory qualifications and quorum. To establish a joint stock limited company, there should be more than five promoters, more than half of whom must have domicile in China. When a state-owned enterprise is transformed into a joint stock limited company, the number of promoters may be less than 5, but it shall be established by way of offering. The promoters must subscribe for the shares they should subscribe for in accordance with the provisions of the Company Law. (2) The share capital subscribed and publicly offered by the promoters has reached the statutory minimum capital limit. The minimum registered capital of a joint stock limited company is RMB 654.38+million. (3) The issuance and preparation of shares comply with the law. (4) The promoters shall formulate articles of association, which shall be adopted by the founding meeting. (5) Having a company name and establishing an organization meeting the requirements of a joint stock limited company. (6) Having a fixed place for production and business operation and necessary conditions for production and business operation. (seven) must be approved by the department authorized by the State Council or the provincial people's government.
A joint stock limited company applying for listing its shares shall meet the following conditions: (1) The shares have been publicly issued to the public with the approval of the securities administration department of the State Council; (2) The total share capital of the company is not less than 50 million yuan; (3) It has been in business for more than 3 years, and has been making profits continuously in the last 3 years; If the original state-owned enterprises are established after being rebuilt according to law, or newly established after the implementation of the Company Law, and the main sponsors are large and medium-sized state-owned enterprises, they can be counted continuously. (4) The number of shareholders holding shares with a face value of more than RMB 65,438+0,000 is not less than 65,438+0,000, and the shares publicly issued to the public account for more than 25% of the total shares of the company; If the company's total share capital exceeds 400 million yuan, the proportion of its shares issued to the public is more than 15%; (five) the company has no major illegal acts in the last three years, and its financial and accounting reports have no false records; (six) other conditions stipulated by the State Council.
Eligible companies are all limited by shares, so some limited shares are not necessarily large.
Are all the joint stock limited companies listed?
According to whether the company's shares are traded on the stock exchange, joint-stock companies are divided into listed companies (public companies, public companies) and unlisted companies (private companies, closed companies). According to China's Company Law and Securities Law, a listed company refers to a joint stock limited company whose shares are listed and traded on the stock exchange with the approval of the securities management department authorized by the State Council or the State Council.
As can be seen from the above definition, the legal organization form of listed companies is joint stock limited company, but not all joint stock companies are listed companies.