Unlisted Company

Chinese state-owned oil companies divide their ownership structure between an unlisted "parent" company, and a listed subsidiary, whose majority stakeholder is the parent company.

中国国有石油企业的所有权结构通常分为一家不上市的母公司和一家上市子公司，上市公司的多数股东是母公司。

In this issue, through comparing finance rate, author analyzes financing structure of high technical listed company and high technical unlisted company in different financing environment to find causation of difference, studying concrete contributory cause of difficulty in financing and make some ameliorative suggestions.

本文根据对不同融资环境下的高科技上市公司与非上市公司的财务比率进行比较，分析其融资结构差异以及差异存在的原因，探讨高科技企业融资难的具体成因并提出改进的建议。

Part one analyzes the concept of unlisted public company.

第一章主要对非上市公众公司及信息披露的相关概念进行解析。

But they could undertake private, off-exchange transactions just as with any unlisted company.

但与那些未上市公司的股权一样，他们可以私下进行场外交易。

Where a company takes over a larger concern or when an unlisted company takes over a concern that is listed on a stock exchange.

指一家公司收购比自己大的公司，或未上市的公司收购已上市的公司。

Buying and selling shares in an unlisted company can prove complicated, due to the lack of liquidity and clear pricing.

买卖一家未上市公司的股票是很复杂的，因为缺乏流动性和价格的透明度。

an unlisted company

非上市公司

Unlisted company share transactions, as an important way of capital distribution and trading, is necessary and reality.

非上市股份公司股份交易作为资本流通和交易的重要方式之一，其存在具有必要性和现实性。

According to the characteristics of the commercial trade and the balance in the fairness and efficiency, it is necessary to restrict share transfer in the unlisted company.

在非上市的股份公司章程中，做出必要的限制股份转让的规定，符合公司商事交易的特点，是效率和公平之间博弈选择的要求。

Unlisted joint-stock company managed by their institution shall market intermediary institutions as the government can have certain regulation.

未上市股份公司托管机构应由公司制的市场中介机构担任，政府可以有一定的监管。

However, due to our unlisted insurance company information disclosure system has just started, the relevant laws and regulations are not perfect, the information asymmetry between unlisted insurance company and policyholder is still very serious.

但是，由于我国非上市保险公司信息披露制度才刚刚起步，有关的法律法规还很不完善，非上市保险公司与保单持有人之间的信息不对称状况仍然十分严重。

Last we bring forward the mode of stock option motivating in stock unlisted company to fit in China.

本文阐述了股权激励制度的理论基础，对股权激励效应进行了分析，并针对中国国情提出国有非上市股份公司股权激励模式。

A Study on the Legal System of Information Disclosure of the Unlisted Insurance Company

非上市保险公司信息披露法律制度研究

In a surprise move, the company yesterday said it would spin off brand operations under the BenQ name into an unlisted company that would have paid-in capital of about T$ 3.5bn ($ 105m).

这家公司昨日出人意料地宣布，将把明基名下的品牌业务独立出来，成立一家拥有约35亿元新台币（合1.05亿美元）实收资本的非上市公司。