Core Viewpoint - The article discusses the differences between "backdoor listing" and "quasi-backdoor listing," two common capital operation methods in the capital market, especially after the implementation of policies like the "Six Merger Rules" [1]. Summary by Sections Backdoor Listing (Restructuring Listing) - Backdoor listing refers to a non-listed company acquiring control of a listed company (shell company) through means such as acquisition or asset replacement, subsequently injecting its own business and assets into the shell company to achieve the goal of listing [2]. - Key criteria for backdoor listing include: 1. Change of control must occur within 36 months, with the listed company purchasing assets from the acquirer or its affiliates [3]. 2. The total assets purchased must exceed 100% of the listed company's audited total assets from the previous fiscal year [4]. 3. The revenue generated by the purchased assets must also exceed 100% of the listed company's audited revenue from the previous fiscal year [4]. 4. The net assets of the purchased assets must exceed 100% of the listed company's audited net assets from the previous fiscal year [4]. 5. Issued shares for asset purchases must exceed 100% of the shares on the day before the board resolution [4]. 6. Even if the above asset injection scales do not meet the 100% standard, if the transaction leads to a fundamental change in the listed company's main business, it may still be recognized as a backdoor listing [5]. Quasi-Backdoor Listing (Evasion Restructuring) - Quasi-backdoor listing is a capital operation method that avoids triggering the backdoor listing recognition standards through step-by-step transactions, dispersed targets, and financial maneuvers, achieving similar effects to backdoor listings without formally meeting the criteria [6]. - Key characteristics include: 1. No change in the actual controller [7]. 2. Assets may be acquired after 36 months [7]. 3. The main business may change through acquisitions from third parties [7]. 4. The acquisition proportion is kept below 100% [7]. - The focus is on the synergy between the acquirer and the listed company, enhancing overall competitiveness and profitability, resembling the business restructuring seen in backdoor listings but differing in form [8]. Key Differences Between Backdoor and Quasi-Backdoor Listings - Backdoor listings require meeting all specified criteria, while quasi-backdoor listings may only need to satisfy 2-3 conditions [8]. - Regulatory scrutiny is more stringent for backdoor listings, which must meet IPO standards, while quasi-backdoor listings face less stringent oversight [9]. - The operational complexity and timeframes differ, with backdoor listings typically requiring longer approval processes [9].

天眼查App显示，近日，乌海市产投投资有限责任公司成立，法定代表人为罗鑫磊，注册资本10000万 人民币，由内蒙古狮城国有资本投资运营集团有限公司全资持股。 经营范围含以自有资金从事投资活动；信息咨询服务（不含许可类信息咨询服务）；企业管理；企业管 理咨询。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动） 企业名称乌海市产投投资有限责任公司法定代表人罗鑫磊注册资本10000万人民币国标行业金融业>资 本市场服务>其他资本市场服务地址内蒙古自治区乌海市海勃湾区滨河街道广源国际大厦B单元1901室 企业类型有限责任公司（非自然人投资或控股的法人独资）营业期限2025-8-1至无固定期限登记机关乌 海市市场监督管理局 来源：金融界 序号股东名称持股比例1内蒙古狮城国有资本投资运营集团有限公司100% ...

本文源自：金融界 作者：情报员 经营范围含一般经营项目是：以自有资金从事投资活动；创业投资（限投资未上市企业）；信息技术咨 询服务；企业管理咨询；信息咨询服务（不含许可类信息咨询服务）；融资咨询服务；小微型客车租赁 经营服务；汽车零配件零售；租赁服务（不含许可类租赁服务）；国内贸易代理；技术进出口；货物进 出口。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动），许可经营项目是：无 企业名称广东超甯投资有限公司法定代表人冯传向注册资本500万人民币国标行业金融业>资本市场服 务>其他资本市场服务地址深圳市南山区西丽街道曙光社区云家仓储3栋101企业类型有限责任公司(法人 独资)营业期限2025-8-1至无固定期限登记机关 天眼查App显示，近日，广东超甯投资有限公司成立，法定代表人为冯传向，注册资本500万人民币， 由深圳市二道控股集团有限公司全资持股。 序号股东名称持股比例1深圳市二道控股集团有限公司100% ...

中证报中证网讯(记者昝秀丽)河北证监局8月1日消息，7月25日，由河北省上市公司协会主办、河北资 本市场之家协办的"河北上市公司审计委员会专题培训"在石家庄举办。河北证监局相关处室负责人表 示，审计委员会要提升审计监督的时效，提升履职能力。 上述负责人表示，审计委员会是连接董事会管理层内部审计与外部审计的关键纽带，更是保障财务信息 质量、维护投资者合法权益的第一道防线。委员的专业能力、履职态度和监督时效直接关系到上市公司 的治理水平，关系到资本市场看门人机制的有效性，更关系到广大投资者对市场的信心。审计委员会必 须准确把握新形势、新要求，切实发挥"把关者""监督者""推动者"的作用。对此，他向审计委员会提出 五个方面的工作要求：要强化责任意识，坚守"看门人"初心；要聚焦核心职责，筑牢财务信息质量防 线；要保障审计独立性，提升审计监督的时效；要加强专业学习，提升履职能力；要强化监督问责，压 实履职责任。 中国上市公司协会资深专家结合履职典型案例，对《上市公司审计委员会工作指引》的起草背景、框架 结构、具体内容等进行系统解读，深入剖析审计委员会履职的关键要点与实践经验。北京国家会计学院 教授、中国上市公司协会独立 ...

Core Viewpoint - The training for the audit committees of listed companies in Hebei aims to enhance their operational capabilities and strengthen internal governance, thereby laying a solid foundation for high-quality development in the capital market [1][2]. Group 1: Training Overview - The "Hebei Listed Companies Audit Committee Specialized Training" was successfully held in Shijiazhuang on July 25, with participation from over 330 members of audit committees and board secretaries from 82 listed companies [1]. - The training was conducted in a hybrid format, combining online and offline participation, and included contributions from experts and professors in the field [1][2]. Group 2: Importance of Audit Committees - The audit committee serves as a crucial link between the board of directors, internal audit, and external audit, acting as the first line of defense for financial information quality and investor rights [2]. - The professional capabilities and attitudes of committee members directly impact the governance level of listed companies and the effectiveness of the market oversight mechanism [2]. Group 3: Key Requirements for Audit Committees - The Hebei Securities Regulatory Bureau outlined five key work requirements for audit committees: 1. Strengthen responsibility awareness and uphold the "gatekeeper" role 2. Focus on core responsibilities to ensure financial information quality 3. Ensure audit independence and enhance supervisory timeliness 4. Promote professional learning to improve operational capabilities 5. Strengthen supervision and accountability to enforce responsibilities [2]. Group 4: Impact of New Company Law - The recent changes in the Company Law, which eliminate the supervisory board, have transferred its powers to the audit committee, making the training timely and crucial for a smooth transition in internal oversight [3]. - The training clarified the responsibilities and boundaries of committee members, deepening their understanding of supervisory duties and enhancing operational effectiveness [3].

Core Viewpoint - The training on the "Audit Committee of Listed Companies in Hebei" is crucial for enhancing the governance structure of listed companies, especially in light of the new Company Law which abolishes the supervisory board, transferring its responsibilities to the audit committee [1][2]. Group 1: Training Overview - The training was held on July 25 in Shijiazhuang, organized by the Hebei Listed Companies Association, with participation from over 330 members of audit committees and board secretaries from 82 listed companies [1]. - The training utilized a hybrid format of online and offline participation, featuring experts from the China Listed Companies Association and professors from the National Accounting Institute of Beijing [1]. Group 2: Key Insights from Experts - A senior expert from the China Listed Companies Association provided a systematic interpretation of the "Guidelines for the Work of Audit Committees," focusing on the background, structure, and key points of the audit committee's responsibilities [2]. - The professor from the National Accounting Institute shared insights on the positioning of audit committees and offered suggestions for independent directors in accounting, emphasizing the importance of practical experience [2]. Group 3: Importance of Audit Committees - The audit committee serves as a critical link between the board of directors, internal audit, and external audit, playing a vital role in ensuring the quality of financial information and protecting investors' rights [1]. - The training emphasized five key responsibilities for audit committees: enhancing responsibility awareness, focusing on core duties, ensuring audit independence, strengthening professional learning, and reinforcing supervision and accountability [1]. Group 4: Impact on Corporate Governance - The training is timely, providing essential guidance for the smooth transition of internal supervisory mechanisms in listed companies following significant changes in governance structure [2]. - It aims to clarify the responsibilities and boundaries of audit committee members, enhancing their understanding of supervisory duties and operational effectiveness, thereby fostering a more transparent and efficient corporate governance ecosystem in Hebei [2].

天眼查进一步揭示，金惠红湖（深圳）企业管理有限公司作为执行事务合伙人，将在金祥远舵肆号（深圳）投资合伙企业的日常运营中发挥关键作用。这一 安排不仅体现了金惠红湖在专业管理上的实力，也预示着该投资合伙企业将在未来展现更加稳健和高效的发展态势。 | | 电公园 都在用的商业查询工具 | 查风险 查老板 | | | --- | --- | --- | --- | | | 国家中小企业发展子基金旗下机构 | 金祥远舵肆号（深圳）投资合伙企业（有限合伙） | (×) 天眼一下 | | 基本信息 10 | 法律诉讼 | 经营风险 | 经营信息 公示 | | 执行事务合伙人 | 金惠红湖（深圳）企业管理有限 金惠 | 登记状态 2 | 存续 | | | 红湖 公司 | 成立日期 | 2025-07-30 | | 统一社会信用代码 2 | 91440300MAER46QN9X | 出资额 | 14350万人民币 | | 工商注册号 | 440300226484399 | 纳税人识别号 2 | 91440300MAER46QN9X | | 营业期限 | 2025-07-30 至 无固定期限 | 纳税人资质 | | | 企业类型 ...

Group 1 - The core viewpoint emphasizes the need to enhance the attractiveness and inclusiveness of the domestic capital market, focusing on long-term institutional improvement and functional optimization [1][3] - The China Securities Regulatory Commission (CSRC) has outlined seven key measures for the second half of the year to promote capital market reform and development [1][2] - The relationship between development and safety is crucial, requiring a dynamic balance to ensure a stable and active capital market that supports economic recovery and modernization [1][2] Group 2 - A well-regulated market ecosystem is essential for stimulating market vitality, necessitating the enhancement of market monitoring, risk response effectiveness, and expectation guidance [2] - The current structure of listed companies is unbalanced, with a need for improved technological content among leading firms and a focus on long-term capital investment [2][3] - The measures proposed aim to create a virtuous cycle of increased returns leading to capital inflow and market stability [3] Group 3 - The strategy for high-quality economic development remains clear, with an emphasis on enhancing foreign investment confidence through stable and predictable macro policies [4] - The need to balance internal reforms with external openness is highlighted, focusing on risk prevention and regulatory capabilities in a complex external environment [4] - The new round of comprehensive capital market reforms aims to enhance the attractiveness and competitiveness of the A-share market while promoting high-level institutional openness [4] Group 4 - Despite challenges, the certainty of high-quality economic development and macro policy expectations provides a foundation for maintaining stable market operations [5] - The capital market is expected to transition from policy-driven recovery to intrinsic momentum for improvement through positive interactions between asset and capital sides [5]

Group 1 - Shanghai Guotai Haitong Zhichuang Private Investment Fund Partnership (Limited Partnership) has been established, focusing on private equity investment, investment management, and asset management activities [1] - The fund is fully funded by Guotai Haitong's subsidiary, Guotai Junan Zhenyu Investment Co., Ltd. [1] - The registered capital of the fund is 62 million yuan [2] Group 2 - The fund is classified under the capital market services industry [2] - The business scope includes private equity investment and related activities, subject to legal approvals [2] - The fund's operational headquarters is located at 480 Fuzhou Road, Huangpu District, Shanghai [2]

通过天眼查大数据分析，上海同济科技实业股份有限公司共对外投资了32家企业，参与招投标项目20 次，知识产权方面有商标信息15条，此外企业还拥有行政许可2个。 来源：金融界 近日，天眼查APP显示，上海同济科技实业股份有限公司（简称"同济科技"）法定代表人发生变更，从 余翔变为官远发。 资料显示，上海同济科技实业股份有限公司法定代表人为官远发，成立于1993年，位于上海市，是一家 以从事资本市场服务为主的企业。企业注册资本62476.1516万人民币，实缴资本62476.1516万人民币。 ...