The standard company division means that the parent company distributes its shares in the subsidiaries to the shareholders of the existing parent company according to the shareholding ratio of the shareholders of the parent company in the parent company, thus separating the operation of the subsidiaries from that of the parent company legally and organizationally. In addition, derivative separation methods such as share exchange separation and dissolution separation can also be adopted. The former means that the parent company distributes its shares in subsidiaries to some shareholders (not all shareholders of the parent company) in exchange for its shares in the parent company; The latter means that the parent company transfers the control of its subsidiary to shareholders. In the dissolution and separation, all subsidiaries owned by the parent company are separated, so the original parent company no longer exists.
Split listing can be divided into broad sense and narrow sense. Broadly speaking, spin-off includes that listed companies or unlisted group companies separate some businesses from their parent companies and list them separately; In a narrow sense, spin-off refers to the separation of some businesses or subsidiaries of listed companies and their separate public offering. In the process of spin-off, the parent company usually maintains the controlling right of the spin-off subsidiary.