什么需要保荐人：中文篇

保荐人在金融市场中扮演着重要的角色，尤其在证券发行和上市过程中。那么，什么需要保荐人呢？

首先，保荐人的存在能够确保发行人符合法律法规和监管要求。在证券发行和上市过程中，发行人需要满足一系列的条件和标准，如财务状况、公司治理结构、信息披露等。保荐人通过对发行人的尽职调查，评估其是否符合这些要求，并在发行过程中持续监督发行人的行为，确保其遵守相关法律法规。

其次，保荐人有助于保护投资者的利益。保荐人需要对发行人的信息进行披露和解释，确保投资者能够充分了解发行人的情况和风险。同时，保荐人还需要对发行人的持续经营能力进行评估，为投资者提供投资决策的依据。

此外，保荐人还有助于维护市场的公平和透明。保荐人通过尽职调查和信息披露，减少信息不对称现象，防止欺诈行为和内幕交易，维护市场的公平和透明。

综上所述，保荐人在证券发行和上市过程中扮演着重要的角色，其存在能够确保发行人符合法律法规和监管要求，保护投资者的利益，维护市场的公平和透明。

Why Do We Need Sponsors: English Version

Sponsors play a crucial role in financial markets, particularly during the issuance and listing of securities. So, why do we need sponsors?

Firstly, the presence of sponsors ensures that issuers comply with laws, regulations, and regulatory requirements. In the process of securities issuance and listing, issuers need to meet a series of conditions and standards, such as financial status, corporate governance structure, and information disclosure. Sponsors conduct due diligence on issuers, assess their compliance with these requirements, and continuously monitor their behavior throughout the issuance process to ensure compliance with relevant laws and regulations.

Secondly, sponsors help protect the interests of investors. Sponsors are responsible for disclosing and explaining the information of issuers, ensuring that investors have a full understanding of the issuer's situation and risks. Additionally, sponsors evaluate the issuer's ability to sustain its operations, providing investors with a basis for investment decisions.

Moreover, sponsors contribute to maintaining fairness and transparency in the market. Through due diligence and information disclosure, sponsors reduce information asymmetry, prevent fraudulent behavior and insider trading, and safeguard the fairness and transparency of the market.

In conclusion, sponsors play a crucial role in the issuance and listing of securities. Their presence ensures that issuers comply with laws, regulations, and regulatory requirements, protects the interests of investors, and maintains fairness and transparency in the market.