First of all, the listing of enterprises should fully meet the specific requirements of the CSRC for listing on various exchanges, such as the listing requirements of the Growth Enterprise Market. Usually, the counseling period set by securities investment banks is to enable enterprises to meet these requirements.

Secondly, the training of private placement only tells you what private placement is. Like an investment bank, he should consider the value of the enterprise and the future exit mode, that is, getting up early is not profitable, while venture capital (also a kind of private placement) is mainly aimed at start-ups, with small amount and short term.

The key is whether the present value of your company's future cash flow can meet the requirements of private placement and whether you can exit through IPO, especially in the case of unclear future reform direction of IPO.