Why should a company go public with a sponsor

The main content of the sponsorship system.

**Issuance and listing sponsorship system means that when a company is publicly offered and listed, it must be recommended by a sponsor institution with sponsor qualifications. Under the sponsorship system, the issuance and listing of enterprises must not only be sponsored by the sponsor institution, but also require practitioners with the qualification of sponsor representatives to be specifically responsible for the sponsorship work.

**Listing sponsorship is divided into two stages: due diligence recommendation and ongoing supervision. From the signing of the sponsorship agreement between the sponsor institution and the issuer to the formal acceptance of the company's application documents by the China Securities Regulatory Commission and the completion of the issuance and listing, it is the due diligence recommendation stage.

**After the issuance and listing, the company will enter the stage of continuous supervision, and the sponsor needs to conduct continuous supervision of the issuer for a certain period of time.

Because this is a regulation, it is necessary to comply with the relevant regulations before it can be eligible for listing, so only qualified sponsors can be listed.

Increase credibility while increasing the ability to take responsibility.

Legal analysis: The listing sponsor refers to the ** company that undertakes the recommendation responsibility for the listing application of the listed company and the guarantee responsibility to the investor for the information disclosure of the listed company in the ** market. If a company wants to be listed on the GEM, it must have the recommendation of a sponsor.

The responsibility of the sponsor is to assist the listing applicant in the listing application, and is responsible for carefully reviewing and disclosing the relevant documents of the applicant and assuming the corresponding responsibilities. The sponsor should have the following:

1) Enterprises established in accordance with the law, and have no bad business records in the last three years;

2) Independent legal persons with long-term investment ability or long-term equity capital supply capacity, such as investment companies, investment management companies, ** management companies, enterprise groups, listed companies, guarantee companies, asset management companies, financial institutions, business incubators, etc.;

3) Registered capital or net assets of not less than RMB 100 million;

4) Have a fixed place of business;

5) There is a standardized charter and organizational structure;

6) Other conditions as necessary. Legal basis: Article 11 of the "** Law", if the issuer applies for the public issuance of ** and convertible ** reserve corporate bonds, and adopts the underwriting method in accordance with the law, or the public offering of other ** enterprises that implement the sponsorship system as stipulated by laws and administrative regulations, it shall hire an institution with sponsor qualifications as the sponsor.

The sponsor shall abide by the business rules and industry norms, be honest and trustworthy, be diligent and conscientious, prudently verify the issuer's application documents and information disclosure materials, and supervise the issuer's standardized operation. The qualifications of sponsors and their management measures shall be prescribed by the ***** supervision and administration authority.

Summary. The listing sponsor letter includes information disclosure on the company's listing information, public investor education, financial audit, investor relations, market liquidity, etc., as well as the specific duties and obligations of the sponsor in the listing activities. In addition, the listing sponsor should also indicate the responsibilities of the company's board of directors and senior management, as well as the steps that the company must take in accordance with the listing requirements.

The Shanghai Stock Exchange has accepted the listing sponsorship letter and made it public online, and it has been <> in person

We'll be happy to answer your questions. A listing sponsor letter means a document issued by a sponsor that it endorses a company's listing application and an assessment of its financial, operational, operating conditions and risk management capabilities. The listing sponsorship letter also clarifies the responsibilities and obligations of the sponsor to serve as a listing service, as well as the review process of the sponsor of the company.

The listing sponsorship letter includes information on the company's listing information, public investor education, financial audit, investor relations, market liquidity and other aspects, as well as the specific duties and obligations of the sponsor in the listing activities. In addition, the listing sponsor should also indicate the responsibilities of the company's board of directors and senior management, as well as the steps that the company must take in accordance with the listing requirements. <>

How long is it until it goes public.

The Shanghai Stock Exchange has accepted the listing sponsorship letter and published it online, how long is it before the listing.

The listing time depends on the listing application review and issuance review process, which generally takes about 6 to 8 months. <>

Legal analysis: The listing sponsor refers to the first company that bears the responsibility of recommending the listing application of the listed company and is responsible for the application documents and information disclosure materials of the listed company. Sponsors should abide by business rules and industry norms, be honest and trustworthy, be diligent and conscientious, and supervise the standardized operation of listed companies.

Legal basis: Article 10 of the ** Law of the People's Republic of China The issuer applies for the public issuance of ** and convertible corporate bonds, and adopts the underwriting method in accordance with the law, or the public offering of other ** enterprises stipulated by laws and administrative regulations to implement the sponsorship system of Song Ling Bank, shall hire ** company as the sponsor.

The sponsor shall abide by business rules and industry norms, be honest and trustworthy, be diligent and conscientious, prudently verify the issuer's application documents and information disclosures, and supervise the issuer's standardized operation.

The measures for the management of sponsors shall be formulated by the ***** regulatory authority.

The listing sponsor refers to the ** company that undertakes the recommendation responsibility for the listing application of the listed company and is responsible for the application documents and information disclosure materials of the listed company. Sponsors should abide by business rules and industry norms, be honest and trustworthy, be diligent and conscientious, and supervise the operation of listed companies in accordance with regulations.

The duties of a listing sponsor are:

1. Confirm that the issuer meets the listing conditions;

2. Ensure that the directors of the issuer are aware of the obligations and responsibilities of the directors stipulated in the laws, regulations, these Rules and the Listing Agreement;

3. Assist the issuer in applying for listing and handling matters related to listing;

4. Submit a recommendation letter for listing;

5. Verify the information contained in the listing documents to ensure that the content of the listing documents is true, accurate and complete, and meets the requirements of the regulations;

6. Assist the issuer to improve the corporate governance structure;

7. Assist issuers in formulating strict information disclosure systems and confidentiality systems.

Legal basisArticle 23 of the Company Law of the People's Republic of China.

To establish a limited liability company, the following conditions shall be met:

1) The shareholders meet the quorum;

2) There is a capital contribution subscribed by all shareholders in accordance with the provisions of the company's articles of association;

3) Shareholders jointly formulate the articles of association;

4) Have a company name and build an organizational structure that meets the requirements of a limited liability company;

5) Have a company domicile.