Group 1 - The process of Initial Public Offering (IPO) in the A-share market is a critical step for companies to enter the capital market, involving several stages that require thorough preparation and adherence to regulations [1][2] - Engaging intermediary institutions is valuable as they provide various services and assistance, leveraging their expertise and extensive networks to facilitate the IPO process [1][2] - Intermediary institutions play a core role in the IPO process, conducting comprehensive due diligence, assisting in governance structure improvement, and ensuring compliance with financial regulations [2][3] Group 2 - The transformation to a joint-stock company is a necessary step for companies preparing for an IPO, requiring adherence to legal standards and regulations such as the Company Law [3][5] - Key steps in the transformation include selecting initiators, drafting company bylaws, and arranging equity distribution, which clarify asset ownership and improve management efficiency [5][6] - After the transformation, intermediary institutions provide guidance on IPO-related knowledge, regulations, and company management to ensure compliance with public listing requirements [6][8] Group 3 - Preparing and submitting application documents is crucial, requiring careful organization and accurate representation of information to meet regulatory standards [8][9] - The China Securities Regulatory Commission (CSRC) conducts a thorough review of submitted materials, providing feedback and requiring companies to address any issues identified [9][10] - If approved by the CSRC, the company can proceed with the issuance and listing process, which includes determining the issuance price and volume, followed by public trading of shares [13]