Core Points - The article promotes membership options for a learning platform, highlighting discounts and benefits for seasonal and monthly memberships [2][5][11] Membership Offers - Seasonal membership is offered at a discounted price of ¥1099, down from the regular price of ¥1499, with an additional discount of ¥400 for a limited time [2] - Monthly membership also includes a promotion where users can receive an extra month free if they complete five days of learning within 30 days [5][11] Course Offerings - The platform provides access to over 400 premium courses, covering various topics such as mergers and acquisitions, corporate governance, and IPO processes [4][9] - Specific courses are priced individually, with notable examples including: - Mergers and Acquisitions Practical Topics (140 cases) priced at ¥399 - Hong Kong Listing Application Process priced at ¥88 - Private Equity and Venture Capital topics priced around ¥299 to ¥399 [4][6][7] Additional Membership Benefits - Members receive monthly newsletters, access to exclusive learning activities, and participation in private groups and offline salons [9][10] - Discounts on physical materials and training sessions are also available for members [10]

Group 1 - As of the end of July 2025, there are 9 companies in Dalian's jurisdiction that are planning to go public, an increase of 1 from the end of June 2025 [1] - Dalian has a total of 30 publicly listed companies, including 20 on the Shanghai and Shenzhen main boards, 3 on the Sci-Tech Innovation Board, 4 on the Growth Enterprise Market, and 3 on the Beijing Stock Exchange [1] - The number of companies listed on the New Third Board has reached 53 [1] Group 2 - There are 2 companies currently under review for listing and 7 companies that have completed the counseling filing process [1] - Dalian has 105 securities operating institutions, which include 1 securities company, 24 securities branches, and 76 securities business departments [1] - The number of futures operating institutions in Dalian is 74, comprising 51 futures branches and 23 futures business departments [1] Group 3 - There are 47 registered private fund managers in Dalian [1]

Core Insights - The article discusses the strategic decision companies face when choosing between domestic and overseas listings, emphasizing the importance of market positioning for fundraising, brand enhancement, and competitive advantage. Differences Between Domestic and Overseas Listings - Regulatory Environment: Domestic listings require strict approval from the China Securities Regulatory Commission, while overseas listings, such as in the US or Hong Kong, follow a registration system with faster approval processes [3][4]. - Listing Cycle: Domestic listings typically take 2-3 years due to stringent requirements, whereas overseas listings can be completed in about a year due to a more mature market [3][4]. - Profitability Requirements: Domestic listings have high profitability and asset scale requirements, such as a minimum net profit of 30 million RMB over three years, while overseas markets like NASDAQ allow companies with high growth potential but no profits to list [4][5]. - Fundraising Channels: Domestic listings have lower fundraising costs but are limited to domestic capital markets, while overseas listings have higher costs but offer diverse global fundraising opportunities [5][6]. - Market Impact: Domestic listings enhance local visibility and acceptance, while overseas listings improve international recognition, aiding future global expansion [7]. - Shareholding Structure: Domestic listings must comply with local regulations, which may impose restrictions, while overseas listings offer more flexibility in shareholding structures [8][9]. Decision-Making Guidelines for Listing - Preferred Domestic Listing Scenarios: - Industries aligned with domestic substitution policies, such as semiconductors and new energy, benefit from favorable review processes and strong local investor interest [10][11]. - Companies with a customer base concentrated in China can achieve better valuation through local investor understanding [12]. - Companies needing RMB financing for domestic operations can avoid currency exchange losses [13]. - Preferred Overseas Listing Scenarios: - Companies with over 30% foreign ownership or urgent USD financing needs, such as NIO's US IPO, are well-suited for overseas listings [14]. - Industries facing domestic regulatory restrictions, like internet and data security, may find overseas listings more viable [15]. - Companies with strong international expansion needs can enhance credibility and facilitate cross-border mergers through overseas listings [16].