What is the difference between non-specific investment groups and specific investment groups? A specific object refers to an individual, and an unspecified object refers to several people or a group of people who are not clear, specific, abstract and individual.

Issuing securities to unspecified objects refers to issuing securities to the public. The distribution target is universal and does not target specific groups.

The specific object is to issue company securities to a specific group. For example, a company issues company securities to its employees, and employees are a specific group. However, the issuance of securities to a specific object with a total number of more than 200 persons is a public offering.

Extended data:

Distribution mode

1, public offering

It is issued to all legal social investors.

2. Direct sales when issuing bonds

Issue securities to specific investors.

There are many specific ways to issue securities. China has experienced subscription card, linked savings deposit, full advance payment, online pricing, online bidding, online issuance combined with institutional investors' placement, and placement to secondary market investors. With the deepening of the market-oriented reform of China's securities issuance management system, the issuance model is also changing.