Legal effect of separation of voting right and income right of listed companies.

The legal effect of the separation of voting rights and income rights of listed companies means that according to the provisions of the articles of association of listed companies in China, shareholders, as shareholders of listed companies, should only have voting rights and no income rights in company affairs. This means that shareholders can only participate in the voting of the company's affairs, but can not directly obtain benefits from the company, thus realizing the separation of shareholders' voting rights and income rights. Shareholders can obtain voting rights by purchasing shares, but they cannot directly benefit from the company. The legal effect of this separation was issued by the China Securities Regulatory Commission in accordance with the Company Law of People's Republic of China (PRC) and the Securities Law of People's Republic of China (PRC), aiming at limiting shareholders' income rights and protecting investors' rights and interests.