Question 1:

: "There are no fewer than 1, shareholders holding shares with a face value of more than RMB 1,, and the shares issued to the public account for more than 25% of the total shares of the company; If the company's total share capital exceeds 4 million yuan, the proportion of its shares issued to the public is more than 15%. "

This article comes from the Company Law of the People's Republic of China, which was adopted by the Fifth Session of the Eighth the NPC Standing Committee of the People's Republic of China on December 29th, 1993, and is hereby promulgated and shall come into force on July 1st, 1994.

this article originated from the old company law in 1994, which was revised once in 1999, twice in 24 and thrice in 25. Now, it is a new version revised for the third time and implemented from January 1, 26. So this article is no longer applicable.

it is now revised as: the number of shareholders before the issuance shall not exceed 2 (to prevent public offering in disguised form, that is, you are prohibited from issuing without the consent of the CSRC).

the shares issued to the public account for more than 25% of the total shares of the company; If the company's total share capital exceeds 4 million yuan, the proportion of its shares issued to the public is more than 1%. "Pay attention to more than 4 million yuan from 15% to 1%.

the second question: you understand that there is a certain deviation. After pe, vc, etc. put the company on the market, but before making a profit after ipo, there should be two prices for making money, one is how much they bought it, and the other is the ipo price. Not the ipo issue price and the stock price after the lock-up period expires as you understand it.

when the company is not listed, venture capitalists buy shares of the company at a low price, even at one yuan per share of the registered capital (rarely). Because it is unknown whether the company can go public at this time, if it can't go public, the venture capitalists will lose money, so the prices they buy are very low. After the ipo is successful, the prices will definitely be much higher than this price, so they make a lot of money.

for the sake of your question, the professional listed company also found the 94th edition of the first company law.

just to answer questions.