How to tell whether a company is a listed company?

According to the relevant provisions of Section 5 of Chapter 4 of the Company Law of People's Republic of China (PRC), a listed company refers to a joint stock limited company whose publicly issued shares are approved by the securities management department authorized by the State Council or the State Council to be listed and traded on the stock exchange. The so-called unlisted company refers to a joint stock limited company whose shares are not listed and traded on the stock exchange.

A listed company is a joint stock limited company, which must meet certain conditions besides being approved to be listed and traded on the stock exchange. After the revision of the Company Law and the Securities Law, more enterprises will become listed companies and companies whose corporate bonds are listed and traded.

Chapter IV Section 5 of the Company Law of People's Republic of China (PRC) Special Provisions on the Organization of Listed Companies:

Article 120 A listed company as mentioned in this Law refers to a joint stock limited company whose shares are listed and traded on a stock exchange.

Article 121 Where a listed company purchases or sells major assets within one year or the amount of guarantee exceeds 30% of the company's total assets, it shall make a resolution at the shareholders' meeting, which shall be passed by more than two thirds of the voting rights held by the shareholders present at the meeting.

Article 122 A listed company shall establish independent directors, and the specific measures shall be formulated by the State Council.

Article 123 A listed company shall have a secretary of the board of directors, who shall be responsible for the preparation, document keeping, shareholder information management and information disclosure of shareholders' general meetings and board meetings.

Article 124 Where a director of a listed company has an associated relationship with the enterprise involved in the resolution of the board of directors, he shall not exercise the right to vote on the resolution, nor shall he exercise the right to vote on behalf of other directors. The board meeting can only be held when more than half of the unrelated directors are present, and the resolutions made at the board meeting must be passed by more than half of the unrelated directors. If there are less than three unrelated directors present at the board of directors, they shall be submitted to the shareholders' meeting of the listed company for deliberation.

Tips: The above information is for reference only.

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