Legal analysis: The following conditions shall be met: (1) The number of promoters shall be quorum; (2) It has the total amount of capital subscribed or paid-in by all promoters in accordance with the articles of association; (3) The issuance and offering of shares comply with the law; (4) The promoters shall formulate articles of association, which shall be adopted by the founding meeting; (5) Having a company name and establishing an organization meeting the requirements of a joint stock limited company; (6) Having a company domicile.

Legal basis: Article 76 of the Company Law of People's Republic of China (PRC) shall meet the following conditions for the establishment of a joint stock limited company:

(1) The promoters meet the quorum;

(2) It has the total amount of capital subscribed or paid-in by all promoters in accordance with the articles of association;

(3) The issuance and offering of shares comply with the law;

(4) The promoters shall formulate articles of association, which shall be adopted by the founding meeting;

(5) Having a company name and establishing an organization meeting the requirements of a joint stock limited company;

(6) Having a company domicile.