软件企业筹备IPO应关注的主要问题——基于对保荐工作报告的分析

Major Concerns in IPO Preparation by Software Companies

本文对2018年成功完成IPO的软件企业披露的保荐工作报告进行了分析,发现保荐人核查的重点集中在股权清晰性、经营合规性、持续盈利能力、关联交易、独立性、公司治理结构、会计基础工作规范性等方面。为提高IPO筹备工作的效率,本文建议软件企业在计划提交IPO申请的前三年左右就聘请证券服务机构对企业开展全面的尽职调查,重视股东出资和股权转让的合规性,坚持合规经营,提前规划和实施必要的业务重组,建立严格的关联交易审批制度,依规建立公司治理结构和内控系统。

This article analyzes the underwriter’s reports disclosed by software companies which completed their IPO in 2018 successfully and finds that the underwriters, during their verifications, focus on the equity clarity, operation compliance, sustained profitability, related party transaction, independence, corporate governance structure and robustness of the basic accounting system. To enhance the efficiency of IPO preparations, it proposes that software companies should employ securities service agencies to conduct due diligence about three years before they plan to submit applications for IPOs, ensure the legal compliance of contributions and equity transfers by shareholders, adhere to compliance with laws and regulations in operations, plan and carry out necessary business restructuring in advance, set up strict approval system for related party transactions and establish corporate governance structure and internal control system according to laws and regulations.