Enterprises need to have independent performance and sustainable management ability, and cannot be a short-selling company. If the major shareholder runs away and the suppliers stop cooperating, the enterprise cannot survive. For example, there are too many related transactions, too many customers, too many suppliers and so on.
03
Outstanding main business
For the precedent of domestic listed companies, at most two main businesses are allowed. Moreover, the respective revenues of the two main businesses should account for more than 1/3 of the total revenue. If it is the main business, the business income is required to account for more than 65% of the total income.
04
Governance structure and operational standards
After the shareholding system reform, each company has a corporate governance structure, which is drafted and certified by lawyers. This is the operation mechanism of Dong.
05
The issuance and transfer of shares are legal and compliant.
Listing guidance needs three teachers: brokers, accountants, lawyers and financing consultants, which are concepts in Hong Kong and Europe and America. There is no financing consultant, but an "asset appraiser". An asset appraiser and an accountant are a family. This is the definition of vested interests in the industry, regardless of financing consultants. Brokers, accountants and lawyers are indispensable standards for listing, and financing consultants are highly matched. If the registered capital of an investment company or professional service company is 1 100 million yuan, such institutions can also become recommendation institutions to make recommendations for enterprises, so in the New Third Board, qualified financing consulting companies can also make recommendations. But in the A-share market, it is still done by brokers.
06
Stock holding
Although the shareholding requires truthful disclosure, it will not constitute a substantial obstacle. However, if the major shareholder holds too many shares, it will lead to the instability of the controlling stake. If there is an agent behind the shareholders, please be sure to disclose it truthfully.
For the minority shareholders of the listed company, even if it is not restored before listing, it is not necessarily an obstacle without affecting the identification of the actual controller and the stability of the equity of the listed company, but it is recommended to fully disclose it; As for the shareholding of major shareholders, once the equity dispute is discovered, it will affect the determination of the actual controller of the company and the stability of the shareholding structure. The listed company should not take any chances. The national share transfer system once persuaded a foreign-funded enterprise, and the reason for being persuaded was not the nature of its shareholders, but the holding of shares on its behalf.
07
Weak accounting foundation
At the beginning of the enterprise, the financial situation was chaotic and the use of public and private accounts was not standardized. When a brokerage serves an enterprise, the enterprise must confess all the problems and fully trust the brokerage. The brokerage also solves the problems from the perspective of the enterprise, and the brokerage is more afraid of financial data from different calibers of the enterprise. The business environment in China has caused various financial problems for enterprises, but once enterprises are listed as public enterprises, financial normalization is necessary.