"Share with different rights", also known as "dual ownership structure" or "AB share structure", refers to the same company, the same shares, with different rights, which is mainly manifested in voting rights. Under the dual ownership structure, stocks with more voting rights are always held by insiders (including founders and executives), while stocks with less voting rights are reserved for public investors. The main influence of this company's equity voting structure lies in its influence on the flow of corporate control rights. In 20 18, Hong Kong and Singapore took the lead in realizing this rule change in the region, and the newly established science and technology innovation board in China has also allowed listed companies to adopt dual shareholding structure.
For a limited liability company, it is allowed to stipulate in the articles of association that the voting rights shall not be exercised according to the proportion of capital contribution. If all shareholders agree, they shall not receive dividends according to the proportion of capital contribution or give priority to the subscription of capital contribution.
For joint stock limited companies, China basically implements "the same shares and the same rights". Special voting rights can only be implemented under special circumstances, such as a joint stock limited company listed on the science and technology innovation board.