Legal analysis: There is no limit to the number of shareholders a joint-stock company can have. A joint stock limited company has restrictions on promoters only when the company is established, that is, there are more than 2 promoters and less than 200 promoters, but there is no limit on the number of shareholders. After the company is established, it will divide the company's capital into shares and then show it in the form of shares. As long as they own shares in the company, the parties can become shareholders of the company.
Legal basis: Article 78 of the Company Law of People's Republic of China (PRC) establishes a joint stock limited company, which shall have two or more promoters but not more than 200, and more than half of the promoters shall have their domicile in China.