For companies that need a lot of money in the operation process or need to expand their scale, listing can indeed raise funds. However, some companies have enough funds to support their own operations, and naturally they will not go public without financing.
Listing also has disadvantages. First, it will dilute the control of existing shareholders. Second, dividends will be paid after the issuance of shares, which will also dilute the income of existing shareholders. Third, there is too much supervision of listed companies, such as submitting annual reports and auditing every year, which is very troublesome. Fourth, the internal framework will be too complicated, and the board of directors and supervisors will be confused …