Analysis Of The Operation Methods Of Listed Companies

　 First, list team

Generally speaking, the core members of a listed team should include at least the chairman, general manager, Secretary of the board of directors and chief financial officer. The most important thing for the chairman and general manager is to have firm determination and confidence in the listing work and to have a strong driving force to solve complex and difficult problems. Because the chairman and general manager are often unfamiliar with the listing work, the Secretary of the board of directors or the chief financial officer with high professional level and practical experience is particularly important. The higher their status and trust is, the easier it is to coordinate the listing execution work efficiently and cost effectively. Enterprises should also set up a listed office specially to promote the implementation of the listing. The chairman or general manager will also serve as the director, the board secretary or the chief financial officer will be deputy director, and set up a financial group, a legal group, a business group and a logistics team. The team members should be loyal, sufficient, strong enough and sophisticated enough, and at the same time combine with the team's training plan, and make good use of the listing process to experience the team's strategic talent training opportunities.

　 Two. Agency

1, selecting listed companies must employ qualified intermediary agencies to sponsor counselling work and make independent opinions. Intermediaries are generally composed of sponsors, accountants, lawyers and appraisers.

(1) sponsor sponsors, also known as investment banks or brokerages. Sponsors are professionals who are very familiar with the rules and procedures of the listing. They are also a bridge between enterprises and the SFC and exchanges. Their functions in the preparatory stage of the listing are mainly responsible for the comprehensive planning of the listing structure, the compilation of the Prospectus Documents, and the coordination of other intermediary organizations to promote the preparations for the listing according to the timetable. Sponsors are of vital importance. The key to the inspection is to see their ability to coordinate all resources and professional capabilities. Specifically, including (1) whether they are closely related to the examination and approval organs and regulatory agencies? (2) are there abundant experiences in the securities market and how specific successful cases are? (3) do they have the experience of listing in the industry field of our company? (4) what is the reputation in the industry of similar sponsors? (5) whether there is a mature and complete distribution channel and underwriting network? (6) is there a good cooperation relationship with accountants and lawyers? (7) does the sponsor have conflict of projects or do not attach importance to the project?

(two) the work of CPA accountants mainly includes: issuing accountant reports and disclosing them appropriately in prospectus, providing audit opinions for profit forecasts, and answering financial and accounting information problems to audit institutions. After the successful listing of enterprises, accountants will issue audit reports in each reporting period. The key to selecting accountants is not only the authenticity of their audit reports, but also their reputation and credibility. They should also consider the risk of changing accountants. If they replace accountants without any reason, they have to explain to the exchanges and investors, and pay higher costs to choose new accountants, which is extremely unfavorable for enterprises to maintain the image of capital market.

(three) lawyer lawyers mainly issue legal opinions, answer legal questions and so on. The process of checking lawyers is more demanding than that of sponsors, and it is also more important to grasp the major issues. Apart from examining whether they have the qualification to engage in securities related businesses, lawyers should also inspect their professional experience, background resources and customer evaluation. If the sponsor is weak, the accountants and lawyers should be strong.

(four) the assessor assessors are responsible for reviewing the ownership of the property or equipment of the company, conducting on-site observation and evaluation, and issuing evaluation reports. Selection of appraisers is relatively simple, and generally has a certain reputation for the qualification of securities business.

Generally, sponsors and other intermediaries can be selected from the list recommended by sponsors. In addition to the above statutory intermediaries, it is recommended to choose a financial and public relations company. After the CSRC strengthened information disclosure, quite a few of the media irresponsibly took the opportunity to blackmail the listed companies. Therefore, it is suggested that financial and public relations companies should be chosen to maintain media relations. The key to the choice is to determine whether it has enough strength and considerable norms to avoid entering the trap, because some financial and public relations companies have formed interest chains with the media.

2, cooperate

On the job, the president's learning network expert pointed out that we should have a deep understanding of the position of intermediaries in making efforts to facilitate the listing of companies under the premise of controllable risks. We should take the method of cooperation between members of Unifi Inc project team and intermediaries, and pay attention to the consistency of communication, so as to avoid Tauren's indifference to the horse's mouth and preface. In mobilizing the initiative, we must provide high-quality work and living conditions for the members of the intermediaries, grasp the pace of work and leisure, and arrange leisure activities so that everyone can work hard for the company in the condition of being respected and happy. In the use of its professional ability and special resources, we should pay attention to its ability to solve the practical problems of enterprises instead of staying on finding problems. We should try to work together with enterprises when we are in trouble.

　　 Three, self-examination and rectification

Self examination and rectification refers to the key inspection of the company's own situation before the intermediary enters the field, and effectively solves the major problems according to the inspection situation. It usually includes: competition in the same industry, related transaction, independence, inadequate property rights and qualification, financial non-standard and performance reduction, illegal and so on. This work is essential and must be carried out before the intermediary enters the field. It can be presided over by the Secretary of the board or the chief financial officer, because if the important problem is left to the intermediary agency to help solve, it may lead the intermediary organization to be unable to work together with the enterprise to promote the listing work. After all, the intermediary organization must bear the legal responsibility.

　 Four, careful arrangements

The careful arrangement here emphasizes two points. First, a clear timetable should be drawn up to arrange responsible persons, division of labor, time nodes and task standards. Although the timetable for listing is often pushed and pushed again, securities brokers must take the responsibility as intermediary coordinators, because various agencies undertake various projects, and if there is no unified schedule to coordinate them, it is impossible for the listed teams to gather together to complete the phased work. At the same time, we should set up special person to track and coordinate in the implementation timetable, otherwise the direction and progress of work can not be grasped. Second, handle the relationship between the listing process and business management. In the long run, listing is a service for development, and is conducive to the improvement of management level. But in the short term, because the listing of enterprises takes considerable energy from management, some enterprises even have no time to take care of their own management and management, resulting in the conflict between the operation of listed companies and their management. In fact, this is not contradictory, but interdependence. The management and management work is not good, the performance of enterprises can not be promoted, and it also affects the scale of the funds raised. Therefore, when emphasizing the strategy of listing, we can not ignore its service and take the overall consideration into consideration, so as to match the process of listing and management.

　　 Five. Working mechanism

The scientific working mechanism is conducive to the enthusiasm of the dispatching team and ensures the efficient implementation of the implementation of the listing. First, on the division of labor, the director and deputy directors of the listed office are responsible for overall coordination and decisions on major issues. The finance group is responsible for docking audit of accountants, appraisers and financial aspects of the prospectus. The legal team is responsible for docking lawyers' verification, lawyer's legal opinions, related transactions, and legal parts of prospectus. The business unit is responsible for docking the prospectus business description, development goals and investment promotion projects. The logistics team is responsible for file management, conference preparation and logistics services for the listed intermediary and the working team. When it comes to the serious problem of external coordination, the teams are deployed by the teams to tackle the challenges one by one under the leadership of the listed office. Second, in terms of discipline, we should also establish a confidentiality system while emphasizing a clear and strict work style, so as to prevent the occurrence of the company's listing process or violation of relevant laws and regulations due to leakage. Third, in the process, we should establish procedures for data collection, data processing, data approval and information reporting, so as to prevent improper leakage of important information and ensure consistency of information processing. Fourth, coordinate the establishment of a standardized conference system to ensure that the intermediaries Coordination Committee and daily work coordination as usual and achieve tangible results. At the same time, as the listing work involves a large number of documents circulation, Email is identified as a unified communication tool, and the team is trained to deal with the habit of Email in real time. Fifth, in attitude, we must persist in seeking truth and pragmatism, and overcome a bit of luck in order to avoid leaving behind trouble. Sixth, incentives, in addition to the implementation of stock incentives, should also be listed in the process of team arrangements in the immediate incentive and the special award after success, because the team's hard work and pay in the listing process is different from the usual.

　　 Six, create atmosphere

　　上市籌備過程紛繁復雜，異常艱辛，對公司和管理團隊都是巨大的考驗，1)上市時間表已經修訂了很多遍了，怎么還是推遲，究竟什么時候能夠上市?2)上市究竟要投入多少資源，投入多少精力，公司的經營已經快顧不上了，如果上市失敗了怎么辦?3)盡職調查怎么那么詳細，我們究竟要提供多少材料，解釋多少遍，中介機構才能滿意?4)沒有了晚上，沒有了周末，沒有了節假日，我們究竟還要加班多久?5)上市籌備那么多難題，這么熬人，上市之后還有什么等著我們?這一系列的問號考驗著每一個人的情緒和耐心，因此，公司高層要持續地做廣泛的深入的動員工作，營造團結緊張嚴肅活潑的工作氛圍，調動全體員工積極性，尤其是鼓舞上市團隊用堅定的信心，堅韌的毅力，不怕困難沒有借口地來推進上市。

　　 Seven, handle relations

To deal with relationships is to deal with the relationship with stakeholders, and use "harmony" and "harmony" to fight for support and prevent confusion. Stakeholders include local governments, regulators, media, shareholders, creditors, customers, suppliers, employees and competitors. If there is no support from either side, they may fail. On the part of the government, the relevant government departments concerned need to be approved as soon as possible in the corporate restructuring and investment projects. They should cooperate with and support the intermediaries in the due diligence, and provide legal proof for the company in terms of industry and commerce, taxation, social security and environmental protection. In terms of regulatory authorities, we should maintain close communication, patiently explain and effectively handle the feedback problems in the audit process, and strive for the greatest support of regulators. In terms of media, it can be tied up or far away, but it can not be offended. The big and medium media are treated differently, the good and evil media are treated differently, and the financial and public relations companies are used to deal with them. In terms of shareholders' decisions, we must win the support of all shareholders so as not to delay the listing process. Creditors, customers and suppliers need to cooperate with the intermediary to complete due diligence and confirm the letter of inquiry. On the staff side, one is to boost morale and enhance motivation. The two is to prevent bad employees from adding to the company's listing. In terms of competitors, we must turn hostility into peace, competition and cooperation, strictly abide by trade secrets and prevent malicious reporting, malicious litigation and malicious competition by competitors. Only by dealing with the above relationship can we strive for a peaceful and stable environment for the listing of the company.