Legal basis: Measures for the Administration of Stock Underwriting Business of Securities Institutions Article 7 A securities institution applying for stock underwriting business shall meet the following conditions:
(1) The net assets of a securities monopoly institution shall not be less than 20 million yuan, and the securities operating capital of a securities concurrent institution shall not be less than 20 million yuan.
(2) The net capital of a securities monopoly institution is not less than 654.38+million yuan, and the net working capital of a securities concurrent institution is not less than 654.38+million yuan.
The calculation formula of net capital as mentioned in these Measures is:
Net capital = net assets-(net fixed assets+long-term investment) ×30%- intangible and deferred assets-provision for losses-other long-term or high-risk assets recognized by China Securities Regulatory Commission.
The term "net working capital of securities" as mentioned in these Measures refers to the highly liquid funds specially used by securities institutions for securities business.