Why should state-owned enterprises go public

One 、 Why should state-owned enterprises go public

The reason why state-owned enterprises can be listed is that SASAC has promoted a series of targeted reforms and structural adjustment measures for state-owned enterprises , Such as internal and inter enterprise restructuring 、 We will promote the reform of the three systems within the enterprise 、 Enterprise restructuring and listing 、 Establish a standardized pilot board of directors 、 Reduce the social burden on state-owned enterprises 、 Solve the problems left over by history .

2002 year 11 The 16th National Congress of the Communist Party of China held in June decided to start the reform of the state-owned assets management system . The state owned assets supervision and Administration Commission was subsequently established , We have formulated and established a system including enterprise assets and capital verification 、 Enterprise development strategy and main business management system 、 Enterprise business performance appraisal system 、 The state-owned assets management regulations and systems of enterprises, including the state-owned capital operation budget system .

 

Two 、 What conditions do companies need to go public

（ One ） Only joint-stock companies are qualified to be listed ;

（ Two ） Apply for a listed company , The business of the company must be ３ In the above , There has been no change of directors in these three years 、 Top management 、 And the company operates legally 、 Comply with national laws and regulations ;

（ 3、 ... and ） The registered capital of the listed company is free from false capital contribution , There is no withdrawal of funds ;

（ Four ） Listed company's Registered company At least 3000 ten thousand , The shares issued to the public are... Of the total shares of the company 1／4 above , Total share capital at least 4 One hundred million yuan , Publicly issued shares 10％ above ;

 

（ 5、 ... and ） Financial status of listed companies ：

１、 The financial situation of listed companies has been in the recent 3 Net profit for the last fiscal year 3000 All the above ;

２、 The total number of shares before issuance shall be at least 3000 All the above ;

３、 No losses were made up in the latest period ;

４、 The proportion of assets in the latest period in net assets 20％ above ;

５、 Current 3 The accumulated cash flow from operating activities in the fiscal year of the year shall be at least 5000 ten thousand , Or more recently 3 Operating income for the last fiscal year ３ More than hundred million .

 

3、 ... and 、 Change of the registered capital of the listed company

according to 《 Provisions on the administration of the registration of the company's registered capital 》：

1、 increase The registered capital The rules are as follows ,“ Article 14 the company increases its registered capital , The capital contribution of the newly increased capital subscribed by the shareholders of a limited liability company and the subscription of new shares by the shareholders of a joint stock limited company , Should be separately in accordance with 《 Company law 》 The relevant provisions on the establishment of limited liability companies and joint stock limited companies to pay capital contributions and share funds shall be implemented . A joint stock limited company increases its registered capital by means of public issuance of new shares or a listed company by means of non-public issuance of new shares , The approval documents of the securities regulatory authority under the State Council shall also be submitted .”

2、 The provisions for reducing the registered capital are as follows ,“ Article 15 the company reduces its registered capital , Should meet 《 Company law 》 The prescribed procedure , The amount of registered capital and paid in capital after reduction shall reach the legal level 、 The minimum amount of the company's registered capital as stipulated by administrative regulations and verified by an investment institution .