The Shenzhen Stock Exchange is one of China's three stock exchanges, alongside the Shanghai Stock Exchange and Hong Kong Stock Exchange. It is the 8th largest stock exchange in the world, and 4th largest in East Asia and Asia.

PRIVATE PLACEMENT MARKETS works with a Shenzen Stock Exchange Investment Banking firm that specializes in the Shenzen Stock Exchange's ChiNext Market. The the ChiNext Market is a NASDAQ-type exchange for high-growth, high-tech start-ups that opened to the public on October 23, 2009.

ChiNext Market Listing Requirements:

  • Net Profit / Revenue / Cashflow (must meet one of the two criteria below)

    • Criteria One:​

      • ​With positive net profit in the past 2 consecutive years, and accumulated profit no less than RMB 10 million

      • With accumulated revenue in past 3 years no less than RMB 300 million, or with accumulative net operating cash flow no less than RMB 50 million.

    • Criteria Two:​

      • ​Positive net profit in last one year

      • Positive revenue in last one year and no less than RMB 50 million.

  • Entity Qualifications:​

    • ​The issuer shall be a joint-stock limited company established by law and it shall operate for a continuous period of 3 years or more after its establishment. (Where a limited liability company is wholly converted into a joint-stock limited company according to the original book value of its net assets, the continuous operating period shall be calculated from the date the limited liability company is established).

    • The registered capital of the issuer shall have been paid up in full, procedures for transferring the property rights attached to assets used as capital contributions by the promoter or shareholders shall have been completed, and there shall be no material dispute over ownership of the issuer's major assets.

    • The issuer shall focus on one business, and the business operations of the issuer shall comply with laws and administrative regulations, its articles of association, and the state's industrial policies.

    • There shall have been no significant change in the issuer's principal operations, directors and senior management, and no change in its actual controller in the last 2 years.

    • The issuer's equity structure shall be clear and there shall be no major dispute over the ownership of shares held by the controlling shareholder, controlled shareholders and shareholders controlled by the actual controller.

  • Operational Compliance:

    • ​The issuer shall have lawfully established sound systems for general meetings, the board of directors, the board of supervisors, independent directors, the secretary to the board of directors and the audit committee so that relevant departments and personnel can perform their duties pursuant to the law.

    • The issuer shall establish and improve the shareholders’ voting and ballots counting system, establish a diversified dispute settlement mechanism between issuer and shareholders, guarantee investors to exercise shareholders' rights such as the right to derive investment income, right to know, right to participate, right to express, right to supervise, right to claim, etc. in accordance with the law.

    • The issuer's directors, supervisors and senior officers shall be loyal and diligent, shall have qualifications that conform to the law, regulations and rules, and shall not be subject to any of the following circumstances:

      • Banned from access to the securities market by the CSRC, such sanction still in force;

      • Subject to an administrative penalty imposed by the CSRC within the last 3 years or has publicly censured by the Stock Exchange within the last 1 year; or

      • Investigated by the judicial authorities because of a suspected criminal offence or investigated by the CSRC as a result of a suspected legal or regulatory violation, where no definitive and conclusive opinion has been issued.

    • ​The issuer's system of internal controls shall be sound, have been implemented effectively, and reasonably be capable of ensuring the reliability of its financial reports, the legitimacy of its business activities, and the efficiency and effects of its operations.

    • The issuer, its controlling shareholder and de facto controller shall not be subject to any of the following circumstances:

      • Where it has issued securities to the public or in a disguised manner without the approval of the statutory authority within the last 3 years; or relevant legal violations that occurred 3 years ago are nevertheless ongoing;

      • Any other major legal violation within the last 3 years in which investors' lawful rights and interests and the public interest are seriously damaged.

  • Finance & Accounting​​:

    • ​The issuer shall have obtained an unqualified internal control certification report issued by a CPA.

    • The issuer's basic accounting work and the preparation of its financial statements shall comply with the Accounting Standards for Business Enterprises and the Accounting Systems for Business Enterprises, and shall fairly reflect in all material respects of its financial position, the results of operations and cash flows, and the issuer shall have obtained an unqualified audit report issued by a CPA.

    • The issuer shall meet the following conditions:

      • It must have been profitable in the most recent two consecutive years, with accumulated profits no less than RMB 10 million and in continued growth; or the issuer must have been profitable in the most recent year with net profits of no less than RMB 5 million and revenues of no less than RMB 50 million. (Net profits shall be calculated based on the amount before or after deducting non-recurring profits and losses, whichever is smaller);

      • It must have net assets of no less than RMB 20 million at the end of the most recent reporting period with no uncovered losses;

      • It must have a total share capital of no less than RMB 30 million after the IPO.

Mr. Steve Muehler

Founder & Managing Member

Private Placement Markets

101 California Street

San Francisco, CA 94111


Phone: (877) 259-8066

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Private Placement Markets, LLC (a Delaware Limited Liability Company) provides no depository services and is not insured by the FDIC. Private Placement Markets is an Investment Banking Industry Document Preparation Company and Capital Markets Advisor. Private Placement Markets does not offer, and does not offer to provide any broker dealer or market maker services. Private Placement Markets operates this website (referred to as the “Website”). By accessing this Website and any pages thereof, you agree to be bound by its Terms of Use and Privacy Policy. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. Private Placement Markets does not provide financial planning services. Private Placement Markets does not provide tax advice and does not represent in any manner that the outcomes described herein will result in any particular tax consequence.


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