The Company Law of People's Republic of China (PRC) stipulates that the organization of a joint stock limited company consists of three parts: the shareholders' meeting, the board of directors and the board of supervisors. I. General Meeting of Shareholders The general meeting of shareholders is composed of all shareholders of the company and is the authority of the company. It exercises the following powers: 1. To decide the company's business policy and investment plan; 2. Elect and replace directors and decide on their remuneration; 3. Elect and replace the supervisors appointed by the shareholders' representatives, and decide on the remuneration of supervisors; 4. Review and approve the report of the board of directors; 5. Review and approve the report of the Board of Supervisors; 6. To review and approve the company's profit distribution plan and loss recovery plan; 7. Review and approve the company's annual financial budget and final accounts; 8. To make resolutions on increasing or decreasing the registered capital of the company; 9. Make resolutions on the issuance of corporate bonds; 10. Make resolutions on merger, division, dissolution and liquidation of the company; 1 1. Modify the Articles of Association. Two. The board of directors is the executive body of the company, consisting of 5- 19 people. The board of directors is responsible for the shareholders' meeting and reports its work. The board of directors shall have a chairman who, with the authorization of the board of directors, may exercise part of the functions and powers of the board of directors when the board of directors is not in session. Three. The board of supervisors is the supervisory body of a joint stock limited company, which consists of more than three shareholders' representatives and an appropriate proportion of employees' representatives. The board of supervisors is responsible for the shareholders' meeting and reports its work. The board of supervisors may recommend one of its members as the recruiter of the board of supervisors, and the discussion and voting methods of the board of supervisors shall be implemented in accordance with the provisions of the company's articles of association.
Legal objectivity:
Article 98 of People's Republic of China (PRC) Company Law The shareholders' meeting of a joint stock limited company is 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 108 of People's Republic of China (PRC) Company Law A joint stock limited company shall have a board of directors with five to nineteen members. Members of the board of directors may include company employee representatives. The employee representatives in the board of directors are elected by the employees of the company through employee congresses, employee congresses or other forms of democratic elections. The provisions of Article 45 of this Law on the term of office of directors of a limited liability company shall apply to directors of a joint stock limited company. The provisions of Article 46 of this Law concerning the functions and powers of the board of directors of a limited liability company shall apply to the board of directors of a joint stock limited company.