A listed company that has reached a certain scale may list its independent and qualified subsidiaries in accordance with laws and regulations and the relevant provisions of the China Securities Regulatory Commission and the Exchange.
However, only listed companies that meet the following six conditions can split their subsidiaries.
1. The listed company publicly raised funds but did not invest in the issuer's business;
2. The listed company has been making profits continuously in the last three years, and its operation is normal;
3. There is no horizontal competition between the listed company and the issuer, and a future non-competition commitment is issued;
4. There is no significant related party transaction between the shareholders and the issuer of the listed company or between the actual controller and the issuer of the company;
5. The net profit of the issuer shall not exceed 50% of the net profit of the listed company; The net assets of the issuer shall not exceed 30% of the net assets of the listed company;
6. Before the issuance, the directors, supervisors, senior managers and relatives of listed companies and subordinate enterprises shall not hold more than 65,438+00% of the issuer's shares.
Second, the impact of the listing of subsidiaries on the parent company?
The listing of subsidiaries has a certain stimulating effect on the stock price of the parent company, mainly in the following aspects:
1, when the new shares are listed, many retail investors will turn to invest in the shares of the parent company if they can't buy the shares of the subsidiaries, so the share price of the parent company will rise;
2. Because the listing of subsidiaries can get more financing, financing will help the company improve its performance;
3. The relationship between the parent company and the subsidiary company is the relationship between control and being controlled, so the net profit of the subsidiary company in that year will be allocated to the parent company according to the holding situation of the parent company, which is called "net profit attributable to the mother" in accounting, which can increase the net profit of the parent company, which is good.
However, the stock price of the parent company is mainly affected by the internal operation of the parent company. If the parent company's operating ability is poor and its annual performance is average, then it is difficult for subsidiaries to speculate. Secondly, if the parent company's annual net profit mainly comes from its subsidiaries and its own performance is negative, it is bad.