Legal analysis: a joint stock limited company refers to a company with shares as its capital, and shareholders are liable to the company to the extent of the shares subscribed by them. According to the Company Law of China, the establishment of a joint stock limited company shall be initiated by two or more persons, but not more than 200 persons, and the minimum registered capital shall be RMB 5 million. Because all joint-stock companies must be limited liability companies, they are generally called "joint-stock companies". The main characteristics of a joint stock limited company are: the total capital of the company is divided into equal shares; The company may issue shares to the public to raise funds, and the shares may be transferred according to law; The law only has the minimum number of shareholders in the company, but there is no maximum amount; Shareholders shall bear limited liability to the company with their subscribed shares, and the company shall bear liability for the company's debts with all its assets; One vote per share, shareholders enjoy rights and assume obligations with the subscribed shares; The company shall disclose the accounting reports audited by certified public accountants.
Legal basis: Article 78 of the Company Law of People's Republic of China (PRC) establishes a joint stock limited company, which shall have two or more promoters but not more than 200, and more than half of the promoters shall have their domicile in China.