First of all, it takes three years for a newly established joint-stock company to apply for listing. If it is an overall change, it only takes three years from the date of the establishment of a limited liability company to apply for listing.
Second, to establish a new joint-stock company, it is necessary to put all the related businesses, assets and personnel of the original enterprise into the new company, otherwise it will involve horizontal competition or related transactions; However, whether entering a new company in the form of capital contribution or purchasing assets from the original enterprise will involve a lot of taxes and fees, especially when the value-added of land and real estate is relatively large. It is very troublesome to change all kinds of qualifications, trademarks and patents.
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