Can a limited liability company issue preferred shares?

Legal analysis: No, limited liability companies cannot issue preferred shares. Preferred shares can only be issued by joint-stock companies (listed companies or unlisted joint-stock companies).

Legal basis: Article 129 of the Company Law of People's Republic of China (PRC), the shares issued by a company can be registered shares or bearer shares. The shares issued by the company to the promoters and legal persons are registered shares, and the names of the promoters and legal persons shall be recorded, and no account name or representative name shall be established.