上市失败，90%都是倒在这10件小事上

Core Viewpoint - The article discusses the key considerations and preparations for companies planning to go public, particularly in the context of the current favorable IPO market in Hong Kong. Group 1: Industry Situation - The industry must align with national strategies, such as supporting innovation and serving the real economy, while industries with overcapacity or severe pollution face greater challenges in going public [1] - Companies in industries with unclear regulatory policies or irregular operations also struggle to list independently [1] Group 2: Industry Position - Companies seeking to go public should be industry leaders with competitive advantages to ensure sustainable operations [2] - In larger industry spaces, multiple top companies may have the opportunity to list, whereas in smaller spaces, only leading firms can do so, making it difficult for niche sectors to produce public companies [2] Group 3: Company Scale - The actual listing threshold is higher than theoretical expectations, with a general requirement of at least 50-60 million in profit for the last year of the reporting period [2] - Different sectors have varying requirements, and successful cases within the same industry can serve as benchmarks [2] Group 4: Appropriate Timing - Companies should plan their business development and operations according to their industry and development cycle, working backward from the profit requirements of their target listing board over a typical three-year preparation period [4][5] Group 5: Determining Commitment - Before initiating the listing process, companies must carefully consider the uncertainties in their industry and operations, as well as the potential challenges they may face, to ensure they are ready to overcome obstacles [6] Group 6: Choosing Reliable Intermediaries - Companies should select intermediaries based on their scale, with larger firms typically offering more resources and better quality control, while smaller firms may provide more focused attention [7] - Key factors to evaluate include the intermediary's brand reputation, team experience, project management, and fee structures [7] Group 7: Active Cooperation with Intermediaries - The success of the IPO process largely depends on the professionalism of the intermediaries and the level of cooperation from the company [9] - Companies must provide timely and quality information and adhere to the intermediary's rectification plans to facilitate the listing process [9] Group 8: Financial Considerations - The IPO process incurs additional costs, including compliance with tax regulations, social security, personnel compensation, and intermediary fees, which may require companies to abandon non-compliant business practices [10] - Maintaining good relationships with all parties and adopting a low-profile approach during the listing process can help mitigate risks [11] Group 9: Focus on Business Development - A solid business foundation is essential for a successful IPO, and companies should concentrate on enhancing their operations, optimizing business models, and increasing R&D investments [12] Group 10: Element of Luck - While companies must exert effort to achieve a successful IPO, external factors and timing can also play a significant role, with unexpected events potentially impacting the outcome [13]