legal ground
Article 30 of the Interim Regulations on the Administration of Stock Issuance and Trading
A joint stock limited company applying for listing and trading its shares on a stock exchange shall meet the following conditions:
(1) Its shares have been publicly issued.
(2) The total issued share capital is not less than 50 million yuan;
(3) There are not less than 1000 individual shareholders with a par value of more than RMB 1000, and the total par value of the shares held by individuals is not less than RMB 1000;
(4) The company has made continuous profits in the last three years; Where the original enterprise is reorganized and established as a joint stock limited company, except for the newly established joint stock limited company, the original enterprise has a continuous profit record in the last three years;
(5) Other conditions stipulated by the CSRC.