Provisions on shareholding ratio of major shareholders of listed companies

Legal analysis: the capital contribution of the major shareholder accounts for more than 50% of the total capital of the limited liability company or the shares it holds account for more than 50% of the total share capital of the joint stock limited company; Although the capital contribution or the proportion of shares held is less than 50%, but according to their capital contribution or shares held, shareholders have enough voting rights to the shareholders' meeting and the resolutions of the shareholders' meeting. The largest shareholder with a total share capital of less than 400 million yuan has a maximum shareholding ratio of 75%, and the largest shareholder with a total share capital of more than 400 million yuan has a maximum shareholding ratio of 90%.

Legal basis: People's Republic of China (PRC) Company Law.

Article 28 Shareholders shall pay their respective subscribed capital contributions in full and on time in accordance with the Articles of Association. Where the shareholders make capital contributions in cash, they shall deposit their capital contributions in full into the account opened by the limited liability company in the bank; Where non-monetary property is used as capital contribution, the formalities for the transfer of property rights shall be handled according to law. Where a shareholder fails to pay the capital contribution in accordance with the provisions of the preceding paragraph, he shall be liable for breach of contract to the shareholder who has paid the capital contribution in full and on time.

Article 34 Shareholders shall receive dividends in proportion to the paid-in capital contribution; When the company increases its capital, shareholders have the priority to subscribe for the capital contribution in proportion to the paid-in capital contribution. Except that all shareholders agree not to share the dividend according to the proportion of capital contribution or not to subscribe for the capital contribution in priority according to the proportion of capital contribution.

Article 42 At the shareholders' meeting, shareholders shall exercise their voting rights in proportion to their capital contribution; However, unless otherwise stipulated in the articles of association.

Article 43 The discussion methods and voting procedures of the shareholders' meeting shall be stipulated in the articles of association of the company, unless otherwise stipulated in this Law.

Article 166 When distributing the after-tax profits of the current year, the company shall allocate 10% of the profits to the company's statutory reserve fund. If the accumulated amount of the statutory common reserve fund of the company is more than 50% of the registered capital of the company, it may not be withdrawn.