Growth Enterprise Market (GEM) is a market with relatively loose requirements for A-share listing, and it has relatively low requirements for companies to be listed in terms of establishment time, capital scale and medium-and long-term performance. GEM has a low listing threshold, mainly to help potential SMEs get financing opportunities. So what are the specific IPO conditions of GEM? Today we will introduce it.
the listing conditions of gem are based on the administrative measures for initial public offering and listing on gem adopted by CSRC in 214, which was revised by CSRC in December 215. Here are five important requirements:
1. Operating time
Continuous operating time is more than 3 years (the whole limited company is changed into a joint-stock company, which can be calculated continuously)
2. Profitability is required
2 years of continuous profit, and the accumulated net profit for 2 years is not less than 1 million yuan, and it continues to grow. Or make a profit in one year, and the net profit is not less than 5 million yuan, the annual operating income is not less than 5 million yuan, and the growth rate of operating income in two years is not less than 3%. Net profit is calculated based on the lower before and after deducting non-recurring gains and losses.
III. Requirements for sustainable profitability
The company must not have any circumstances that affect its sustainable profitability:
1. The business model and product or service variety structure have undergone or will undergo major changes;
2. The position of the industry or the business environment of the industry has changed or will change greatly;
3. Important assets or technologies such as trademarks, patents, proprietary technologies and franchise rights are at risk of major adverse changes;
4. One year's operating income or net profit is heavily dependent on related parties or customers with significant uncertainties;
5. The net profit in the recent year mainly comes from the expected return on investment beyond the scope of consolidated financial statements.
iv. Capital stock requirements
After the issuance, the total capital stock shall not be less than 3 million yuan.
V. Requirements for asset-liability structure
The asset-liability structure is reasonable, and the asset-liability ratio is required not to exceed 7%.
summary: the above is the relevant content about the IPO conditions of the growth enterprise market. The most important thing in the IPO of the growth enterprise market is the profit requirement, which must be met by small and medium-sized enterprises that want to go public and raise funds on the growth enterprise market.