The difference between the Stock Exchange and the Hong Kong Stock Exchange is that their listings are quite different. Legally speaking, companies from Hong Kong, Cayman and Chinese mainland can apply for listing in Hong Kong (BVI has been accepted recently), while domestic listing can only be registered in the Mainland. Hong Kong Exchanges and Clearing Limited (HKEx) is the stock exchange in Hong Kong. HKEx's main business is to own and operate the only stock exchange and futures exchange in Hong Kong and its related clearing houses. The chairman is Ronald ARCULLI, and the CEO is Zhou.

The Stock Exchange of Hong Kong (HKEx), the full name of which is "Hong Kong Exchanges and Clearing Limited", is a holding company with three subsidiaries, namely The Stock Exchange of Hong Kong Limited, Hong Kong Futures Exchange Limited and Hong Kong Securities Clearing Limited. It is also a company listed on the stock exchange, and HKEx controls various exchanges and clearing houses in Hong Kong. The Stock Exchange was demutualized by the Stock Exchange of Hong Kong Limited (SEHK) and the Hong Kong Futures Exchange Limited (HKFE), and merged with the Hong Kong Securities Clearing Company Limited (HKSCC), which was owned by a single holding company, the Stock Exchange of Hong Kong.

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HKEx listing conditions:

1. Minimum number of public shares and business records: the market value is less than 1000 billion Hong Kong dollars, and the public shares are at least 25%. The market value exceeds HK$ 65.438+000 billion, which shall be determined at the discretion of the Exchange, but generally it shall not be lower than 654.38+00% or 654.38+00%-25%. Every issue of HK$ 6,543,800,000 shares must be held by at least three people, and every issue of shares must be held by at least 654,38,000 people.

2. Minimum market value: the expected market value at the time of listing is not less than HK$ 65,438 billion.

3. Profit requirement: the income in the latest year is not less than HK$ 20 million, and the accumulated income in the previous two years is not less than HK$ 30 million (the gains and losses arising from non-routine business shall be deducted from the above profits).

4. Types of listed companies: attracting high-quality mature enterprises at home and abroad.

5. Adoption of accounting standards: Hong Kong and internationally recognized accounting principles.

6. Company registration and place of business: not limited.

7. Provisions on information disclosure of the company's business operations: the accounting date of the latest accounting year reported by the accountant shall not exceed six months from the date of publication of the listing documents.