Legal basis: Article 73 of the Company Law of People's Republic of China (PRC). After the equity is transferred in accordance with the provisions of Articles 71 and 72 of this Law, the company shall cancel the capital contribution certificate of the original shareholder, issue the capital contribution certificate to the new shareholder, and change the records of shareholders and their capital contribution in the Articles of Association and the register of shareholders accordingly. There is no need to vote at the shareholders' meeting to amend the Articles of Association this time.
Provisions of the Supreme People's Court on Several Issues Concerning the Application of the Company Law of People's Republic of China (PRC) (III) Article 17 Where the shareholders of a limited liability company fail to perform their capital contribution obligations or withdraw all their capital contribution, and fail to pay or return their capital contribution within a reasonable period after being urged by the company. The people's court shall not support the company's revocation of shareholders' qualifications by the resolution of the shareholders' meeting, and the shareholders request to confirm that the revocation is invalid. In the case specified in the preceding paragraph, the people's court shall make it clear in the judgment that the company shall go through the statutory capital reduction procedures in time or other shareholders or a third party shall pay the corresponding capital contribution. The people's court shall support the creditors of the company who request the relevant parties to bear the corresponding responsibilities in accordance with the provisions of Article 13 or Article 14 of these Provisions before going through the statutory capital reduction procedures or other shareholders or third parties pay the corresponding capital contributions.