Does the major shareholder have the right to sell the company?

Legal analysis: It depends. If the major shareholder is the chairman and general manager of the company, it is ok to sell a small part of the company's property in the name of the company. However, if the major shareholder is not the chairman or general manager of the company, he has no right to sell any property of the company. In addition, the sale of the company's main property must be approved by shareholders with more than two-thirds voting rights. If it is a joint stock limited company, it must be approved by more than two-thirds of the voting rights held by shareholders attending the shareholders' meeting.

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

Article 28 Shareholders shall pay their respective subscribed capital contributions in full and on time in accordance with the Articles of Association. Where the shareholders make capital contributions in cash, they shall deposit their capital contributions in full into the account opened by the limited liability company in the bank; Where non-monetary property is used as capital contribution, the formalities for the transfer of property rights shall be handled according to law. Where a shareholder fails to pay the capital contribution in accordance with the provisions of the preceding paragraph, he shall be liable for breach of contract to the shareholder who has paid the capital contribution in full and on time.

Article 34 Shareholders shall receive dividends in proportion to the paid-in capital contribution; When the company increases its capital, shareholders have the priority to subscribe for the capital contribution in proportion to the paid-in capital contribution. Except that all shareholders agree not to pay dividends according to the proportion of capital contribution or not to subscribe for capital contribution in priority.

Article 42 At the shareholders' meeting, shareholders shall exercise their voting rights in proportion to their capital contribution; However, unless otherwise stipulated in the articles of association.

Article 43 The discussion methods and voting procedures of the shareholders' meeting shall be stipulated in the articles of association of the company, unless otherwise stipulated in this Law.

Article 166 When distributing the after-tax profits of the current year, the company shall allocate 10% of the profits to the company's statutory reserve fund. If the accumulated amount of the statutory common reserve fund of the company is more than 50% of the registered capital of the company, it may not be withdrawn.