Article 58 of the Company Law stipulates that

Article 58 of the Company Law stipulates that a natural person can only invest in the establishment of a one-person limited liability company. A one-person limited liability company cannot invest in the establishment of a new one-person limited liability company.

The shareholders' meeting shall exercise the following functions and powers:

1. Decide on the company's business policy and investment plan;

2. Elect and replace directors and supervisors who are not employee representatives, and decide on the remuneration of directors and supervisors;

3. Review and approve the report of the board of directors;

4. Review and approve the report of the board of supervisors or supervisors;

5. Review and approve the company's annual financial budget plan and final accounts plan;

6. To review and approve the company's profit distribution plan and loss recovery plan;

7. To make resolutions on increasing or decreasing the registered capital of the company;

8. Make resolutions on the issuance of corporate bonds;

9. To make resolutions on the merger, division, dissolution, liquidation or change of corporate form of the company;

10. Modify the Articles of Association;

1 1. Other functions and powers stipulated in the Articles of Association.

The articles of association of a limited liability company shall specify the following items:

1, company name and domicile;

2. The business scope of the company;

3. Registered capital of the company;

4. Name of shareholders;

5. The mode, amount and time of contribution by shareholders;

6, the company's organization and its way, authority, rules of procedure;

7. The legal representative of the company;

8. Other matters deemed necessary by the shareholders' meeting.

Legal basis: Article 1 of People's Republic of China (PRC) Company Law.

This Law is formulated in order to standardize the organization and behavior of companies, protect the legitimate rights and interests of companies, shareholders and creditors, maintain social and economic order and promote the development of socialist market economy.