State-owned holding of listed companies refers to a listed company in which the government or state-owned enterprises (units) own more than 50% of the share capital, although the shareholding ratio is less than 50%, but they have actual control rights (the right to control the business decisions, assets and financial status of the enterprise, and thus obtain capital gains) or the shares they hold are enough to have a significant impact on the shareholders' meeting and the resolutions of the shareholders' meeting. More than 50% of the share capital owned by the government or state-owned enterprises belongs to absolute holding.
Legal objectivity:
Company Law of the People's Republic of China
Article 120
A listed company as mentioned in this Law refers to a joint stock limited company whose shares are listed and traded on a stock exchange.
Company Law of the People's Republic of China
Article 12 1
If a listed company purchases or sells major assets within one year or the amount of guarantee exceeds 30% of the company's total assets, it shall make a resolution at the shareholders' meeting, which shall be passed by more than two-thirds of the voting rights held by the shareholders present at the meeting.