Rights and obligations of group companies and subsidiaries

As a major shareholder, the parent company enjoys the rights of return on assets, major business decisions and selection of operators. In the position and function of parent-subsidiary management, the parent company is in a dominant position and the subsidiary company is in a controlled position.

In terms of legal relationship, the relationship between parent company and subsidiary company is independent and equal; In terms of property rights, the relationship between the parent company and its subsidiaries is the relationship between the controlling shareholder of the legal person and the enterprise legal person with capital as the link. The parent company enjoys the rights of the investor according to the amount of capital contribution and assumes limited liability.

In the internal management relationship, there is a principal-agent relationship between the parent company and its subsidiaries. Through the corporate governance structure of subsidiary-shareholders' meeting-directors (supervisors) meeting-manager, ownership, decision-making power, execution power and supervision power are separated, forming a relationship of vertical authorization, responsibility at different levels and mutual checks and balances.

Extended data:

Procedures for establishing subsidiaries:

1, application for registration of enterprise establishment, application for registration of enterprise establishment, list of investors, registration form of person in charge of enterprise, certificate of business premises, etc.

2 name pre-approval application and enterprise name pre-approval notice;

3. Letter of appointment (power of attorney);

4. Capital contribution certificate of the head office;

5. The company shall provide a copy of the temporary residence permit for the post-holding documents of the person in charge of the branch, if the person in charge is not local;

6. A copy of the Business License of Enterprise as a Legal Person stamped with the official seal of the company;

7. A copy of the articles of association of the head office (which shall be reported to the company registration authority for the record and stamped with the diamond seal of the registration authority);

8. Documents certifying the amount of funds allocated by the company to its branches;

9. If the business scope involves pre-approved projects, the approval documents of relevant examination and approval departments shall be submitted.

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