Legal analysis: Yes. Only companies limited by shares can go public. Characteristics of listed companies: (1) Listed companies are joint-stock companies. (2) A listed company must be approved by the competent government department. (3) Shares issued by listed companies are traded in stock exchanges.
Legal basis: Article 120 of the Company Law of People's Republic of China (PRC) The listed company mentioned in this Law refers to a joint stock limited company whose shares are listed and traded on the stock exchange.