Legal analysis: listed companies are not necessarily state-owned enterprises. A listed company refers to a joint stock limited company whose shares are listed and traded on a stock exchange. State-owned enterprises refer to wholly state-owned enterprises, wholly state-owned companies and state-owned capital holding companies that the State Council and local people's governments perform the responsibilities of investors on behalf of the state respectively. Why do listed companies go public? Compared with ordinary companies, the biggest feature of listed companies is that they can use the securities market to raise funds and widely absorb social idle funds, thus rapidly expanding the scale of enterprises and enhancing the competitiveness and market share of products. Therefore, after a joint stock limited company develops to a certain scale, it often takes the public listing of its shares on the exchange as an important strategic step for its development. From the international experience, almost all the world-famous large enterprises are listed companies. For example, 95% of the top 500 companies in the United States are listed companies.
Legal basis: People's Republic of China (PRC) Company Law.
Article 120 A listed company as mentioned in this Law refers to a joint stock limited company whose shares are listed and traded on a stock exchange.
Article 126 Stock issuance shall follow the principle of fairness and justice, and each share of the same class shall enjoy the same rights. For the same class of shares issued at the same time, the issuance conditions and prices of each share shall be the same; Any unit or individual shall pay the same price for each share subscribed.