Conditions to be met when a company goes public.

Legal analysis: 1. Established according to law and existing for two years. The time limit shall be calculated from the date when the limited liability company is established; 2. Clear business and going concern ability: 3. The corporate governance mechanism is sound and its operation is legal and standardized; 4. The equity is clear, and the issuance and transfer of shares are legal and compliant; 5. Sponsor brokerage recommendation and continuous supervision; 6. Other requirements.

Legal basis: Measures for the Administration of Acquisition of Listed Companies

Article 2 The acquisition of listed companies and the related changes in equity of shares must abide by laws, administrative regulations and the provisions of China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission). The parties concerned shall be honest and trustworthy, abide by social morality and business ethics, consciously safeguard the order of the securities market, and accept the supervision of the government and the public.

Article 3 The acquisition of listed companies and the changes of relevant shares' rights and interests must follow the principles of openness, fairness and impartiality. The information disclosure obligor in the acquisition of a listed company and the change of relevant shares' rights and interests shall fully disclose their rights and interests in the listed company and their changes, and perform legal obligations such as reports and announcements in strict accordance with the law. Before the relevant information is made public, it is obliged to keep it confidential. The information reported and announced by the information disclosure obligor must be true, accurate and complete, and there shall be no false records, misleading statements or major omissions.