What are the connections and differences between "listed companies" and "public companies"?

Public companies include listed companies, which must be public companies. There are two types of companies in China, limited liability companies and joint stock companies, and there is no definition of public companies. A company limited by shares has a broader meaning than a public company. It is a company limited by shares, but it is not necessarily a public company.

There are three differences between listed companies and public companies:

First of all, the overview of the two is different:

1. Overview of listed companies: A listed company is a company limited by shares. In addition to examination and approval, the company must meet certain conditions for listing on the stock exchange.

2. Overview of public companies: A public company is a joint stock limited company that publicly transfers shares to unspecified objects, or issues or transfers shares to specific objects so that the number of shareholders exceeds 200.

Second, the relevant provisions of the two are different:

1. Relevant regulations of listed companies:

(1) The shares have been approved by the the State Council Securities Regulatory Authority and have been publicly issued to the public.

(2) The total share capital of the company is not less than 30 million yuan.

(3) It has been in business for more than three years and has been making profits continuously in the last three years; If the original state-owned enterprise is established after being rebuilt according to law, or if it is newly established after the implementation of this law, and its main sponsors are large and medium-sized state-owned enterprises, it can be counted continuously.

(4) The number of shareholders holding shares with a par value of more than 1000 yuan is not less than 1000, and the shares publicly issued to the public account for more than 25% of the total shares of the company; If the company's total share capital exceeds 400 million yuan, the proportion of its shares issued to the public is more than 10%.

(5) The company has no major illegal acts in the last three years, and its financial and accounting reports have no false records.

(six) other conditions stipulated by the State Council.

2. Relevant regulations of listed companies:

Open the business operation status; Open the balance sheet and income statement to investors and the public. In other words, the operation of public companies should carry out the requirements of the principle of openness to protect the interests of investors and third parties dealing with companies.

Third, the stock trading between them is different:

1. Stock trading of listed companies: A listed company refers to a company whose shares are listed and traded on the Unified Exchange.

2. Stock trading of public companies: Public companies can apply for listing and trading of their shares on the Hong Kong Stock Exchange under certain conditions.

Baidu encyclopedia-listed companies