Beijing Stock Exchange Co., Ltd., the operating entity of the North Exchange, was established on September 3, 20021,with only one shareholder, namely National Small and Medium-sized Enterprise Share Transfer System Co., Ltd. (hereinafter referred to as "National Share Transfer Company"), the operating entity of the New Third Board.
From the perspective of company law, Beijing Stock Exchange is a one-person limited liability company wholly owned by a legal person, and its relationship with the national share transfer company is the relationship between its subsidiaries and its parent company.