What does the original stock of the company mean?

The original shares of a company refer to the shares issued before the listing of the company, which are generally the shares publicly offered to the public when a joint stock limited company is established. In addition, there are state-owned shares, legal person shares and natural person shares:

1. State-owned shares are held by the state, and China laws do not allow listing and circulation.

2. Legal person shares are shares held by enterprise legal persons and cannot be directly listed and circulated without transfer.

3. Natural person shares are shares held by individuals and can be circulated after listing.