Is there a difference between a wholly-owned subsidiary and a secondary wholly-owned subsidiary?

The wholly-owned subsidiary refers to the wholly-owned holding company of the parent company, and the secondary wholly-owned subsidiary is the wholly-owned holding company of the subsidiary. The two companies are of different grades, so the difference is that the parent company is different. The second-level wholly-owned holding company belongs to the subsidiary, and the subsidiary belongs to the parent company. At the same time, for secondary subsidiaries, when the subsidiary holding reaches more than 50%, it is generally considered to be fully controlled.

A subsidiary refers to a company whose shares are controlled by another company or actually controlled and dominated by another company according to an agreement. A subsidiary owns all its own property, has its own company name, articles of association and board of directors, conducts business activities and various civil activities in its own name, and independently bears all consequences and responsibilities brought about by the company's actions. However, major decisions or major personnel arrangements involving the interests of the company still have to be decided by the parent company.