The stock issued by Bai Liu Film and Television Co., Ltd. is not a joint stock limited company approved by the securities management department authorized by the State Council or the State Council to be listed on the stock exchange, and the capital required for listing is more than 30 million yuan, so Bai Liu Film and Television Co., Ltd. does not meet the requirements of listed companies.
A listed company is a specific part of a company limited by shares. Public offering of shares has reached a considerable scale, and its shares have been approved to enter the centralized securities trading market according to law.