Case Analysis Of New Fourth Board Listing Of RX Company

With the development of China’s multi-level capital market,the regional equity trading market(the New Fourth board)has become a new channel for small enterprises to go public for financing.Today,the financing difficulties of small enterprises are prominent.Local governments have also issued various policies to encourage small enterprises to carry out financing on the new four-board listing.The listing of small enterprises in the New Fourth Board has also become a way to break through the bottleneck period of enterprise development.However,the listing of small enterprises on the New Fourth Board is also a complicated process.Enterprises need to meet the listing standards of the New Fourth Board.At the same time,in this process,small enterprises need to find,rectify and solve their own problems.The listing process and analysis of RX Company aims to provide valuable reference for other small enterprises to be listed on the New Fourth Board.In this paper,the motivation of RX company’s listing on the New Fourth Board and the process of two listing are described through the relevant theoretical research and the collection of practical data.First of all,this paper makes a detailed analysis of RX company’s first listing from four aspects: name change,on-site audit,business verification and background investigation,and states the failure results of RX company’s first listing.Secondly,it analyzes RX company’s second listing from three aspects: corporate financial consolidation,paid in capital supplement and diversified business expansion.Finally,RX company has been listed successfully.Thirdly,through the zigzag process of RX company’s two listing,the crux of the problem is diagnosed.This paper makes an in-depth analysis from three aspects: financial management confusion,the lack of internal control system and the dependence of key customers.Finally,we can get enlightenment from three parts,the management of family business,the construction of internal control system and the Listing service organization selection.Through the analysis,we can also provide reference for other small enterprises in the new four board listing.