From Reuters (link)
China’s stock market watchdog on Friday proposed a slew of changes in rules for initial public offerings aimed at promoting listings of high-quality companies.
The proposed rules require firms planning IPOs to have three straight years of profits, at least 30 million yuan ($3.7 million) in combined net profit in the past three years, and a minimum 300 million yuan in total revenues over the period.
The China Securities Regulatory Commission is seeking public comment on the proposals.