It refers to the senior debt which rank is ahead of ordinary share capital will enjoy the first repayment in the case of default.

指偿债顺序排在普通股之前的公司优先债，在出现违约的情况下，享受优先受偿权。

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Companies with a total share capital of Rmb 400 million or more may issue shares by the combined method of Network Offering to ordinary investors and private placement to legal persons.

公司股本总额在4亿元以上的公司，可采用对一般投资者上网发行和对法人配售相结合的方式发行股票。

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Companies with a total share capital of Rmb 400 million or more may issue shares by the combined method of Network Offering to ordinary investors and private placement to legal persons.

公司股本总额在4亿元以上的公司，可采用对一般投资者上网发行和对法人配售相结合的方式发行股票。

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