Is the parent company a subsidiary of a listed company necessarily a listed company?

Legal analysis: the listed subsidiary of the parent company is not a listed company. A wholly-owned subsidiary of a listed company is not listed on the Shenzhen Stock Exchange or the Shanghai Stock Exchange without the approval of the CSRC. It is not a listed company, but a related party of the listed company (that is, the parent company).

Legal basis: Branch companies can be established in Article 14 of People's Republic of China (PRC) Company Law. The establishment of a branch company shall apply to the company registration authority for registration and obtain a business license. A branch company does not have legal person status, and its civil liability shall be borne by the company. A company may set up subsidiaries, which have legal personality and independently bear civil liabilities according to law.