1. Shareholders' Meeting Article 37-44 of the Company Law on the shareholders' meeting of a limited liability company; Article 99- 108 on the shareholders' meeting of a joint stock limited company. According to the Company Law, the shareholders' meeting of a limited liability company is composed of all shareholders. The shareholders' meeting is the authority of the company. The shareholders' meeting shall exercise the following functions and powers: (1) to decide on the company's business policy and investment plan; (2) Electing and replacing directors and supervisors who are not employee representatives, and deciding on the remuneration of directors and supervisors; (3) Examining and approving the report of the board of directors; (4) Examining and approving the reports of the board of supervisors or supervisors; (5) To examine and approve the annual financial budget plan and final accounts plan of the company; (VI) To examine and approve the company's profit distribution plan and loss recovery plan; (7) To make resolutions on the increase or decrease of the registered capital of the company; (8) To 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) Amending the Articles of Association. (eleven) other functions and powers stipulated in the articles of association. A one-person limited liability company does not have a shareholders' meeting. When making the decisions listed in the first paragraph of Article 38 of this Law, the shareholders shall make them in writing and keep them in the company after being signed by the shareholders. Article 62 A wholly state-owned company does not have a board of directors. 2. Board of Directors or Executive Directors Articles 45-49 of the Company Law stipulate the establishment and authority of the board of directors and directors of a limited liability company; 109- 1 17 on the board of directors of a joint stock limited company. A limited liability company shall have a board of directors with three to thirteen members. The board of directors is responsible for the shareholders' meeting and exercises the following powers: (1) Convene the shareholders' meeting and report its work to the shareholders' meeting; (2) Implementing the resolutions of the shareholders' meeting. (3) To decide on the company's business plan and investment plan; (4) To formulate the company's annual financial budget and final accounts; (five) to formulate the company's profit distribution plan and loss compensation plan; (6) To formulate plans for the company to increase or decrease its registered capital and issue corporate bonds; (seven) to formulate plans for the merger, division, dissolution or change of corporate form of the company; (VIII) Deciding on the establishment of the company's internal management organization; (9) To decide on the appointment or dismissal of the company manager and their remuneration, and to decide on the appointment or dismissal of the company's deputy manager and financial officer and their remuneration according to the nomination of the manager; (X) To formulate the basic management system of the company; (eleven) other functions and powers stipulated in the articles of association. A limited liability company with fewer shareholders or a smaller scale may have an executive director instead of a board of directors. The executive director may concurrently serve as the company manager. (Article 5 1)
Legal objectivity:
Article 36 The shareholders' meeting of a limited liability company shall be composed of all shareholders. The shareholders' meeting is the authority of the company and exercises its functions and powers in accordance with this Law. Article 37 of the Company Law of People's Republic of China (PRC) * * * The shareholders' meeting shall exercise the following functions and powers: (1) To decide on the company's business policy and investment plan; (2) Electing and replacing directors and supervisors who are not employee representatives, and deciding on the remuneration of directors and supervisors; (3) Examining and approving the report of the board of directors; Article 46 of the Company Law of People's Republic of China (PRC) The board of directors is responsible for the shareholders' meeting and exercises the following powers: (1) Convene the shareholders' meeting and report its work to the shareholders' meeting; (2) Implementing the resolutions of the shareholders' meeting. (3) To decide on the company's business plan and investment plan.