Legal analysis: the holding company is not the parent company, and the parent company refers to a company that owns a certain number of shares of other companies or can control and dominate other companies' personnel, finance, business and other matters according to the agreement. The most basic feature of the parent company is not whether it holds the shares of the subsidiary, but whether it participates in the operation of the subsidiary. Holding company refers to a company that controls a company by holding a certain number of shares. The holding company only owns a considerable number of shares, and may or may not participate in the operation and only enjoy the investment income. Holding companies are divided into pure holding companies and mixed holding companies according to their holding methods. Pure holding companies do not directly engage in production and operation business, but only carry out capital operation by holding shares of other companies. Hybrid holding companies not only carry out capital operation through holding, but also engage in some production and operation businesses.
Legal basis: Article 15 of the Guidelines for the Articles of Association of Listed Companies is open, fair and just, and each share in the same category has the same rights. A listed company with special voting shares shall stipulate in its articles of association the qualifications of holders of special voting shares, the arrangement of the proportion between the voting rights of special voting shares and the voting rights of ordinary shares, the scope of matters of the shareholders' meeting in which holders of special voting shares can vote, the lock-up arrangement and transfer restrictions of special voting shares, and the conversion between special voting shares and ordinary shares. The provisions of the Articles of Association on the above matters shall comply with the relevant provisions of the Exchange.