The so-called non-confrontation with a third party means that if there is no industrial and commercial registration, although the transferor has transferred its shares, it is still a nominal shareholder of the company. This may lead to the problem that the rights and interests of new shareholders are not fully protected. If the old shareholder transfers the equity again and goes through the relevant formalities in accordance with the regulations, and the transferee is unaware of it (because the industrial and commercial registration has not changed, he can reasonably trust the old shareholder or creditor), then the law protects the rights of the latter, and the original transferee cannot use the equity transfer agreement he has signed against the "third party", that is, the new transferee.
Relevant basis: company law
Article 72 Shareholders of a limited liability company may transfer all or part of their shares to each other.
Shareholders' transfer of equity to persons other than shareholders shall be approved by more than half of other shareholders. Shareholders shall notify other shareholders in writing to agree to the transfer of their shares. If other shareholders fail to reply within 30 days from the date of receiving the written notice, they shall be deemed to have agreed to the transfer. If more than half of the other shareholders do not agree to the transfer, the shareholders who do not agree shall purchase the transferred equity; Do not buy, as agreed to transfer.
Under the same conditions, other shareholders have the priority to purchase the equity transferred with the consent of shareholders. If two or more shareholders claim to exercise the preemptive right, their respective purchase proportions shall be determined through consultation; If negotiation fails, the preemptive right shall be exercised in accordance with their respective investment proportions at the time of transfer.
Where there are other provisions on equity transfer in the articles of association, such provisions shall prevail.