Legal basis: People's Republic of China (PRC) Company Law.
Article 125 The capital of a joint stock limited company is divided into shares, each with the same amount. The shares of the company take the form of shares. A stock is a certificate issued by a company to prove the shares held by shareholders.
Article 126 Stock issuance shall follow the principle of fairness and justice, and each share of the same class shall enjoy the same rights. For the same kind of shares issued at the same time, the issuance conditions and prices of each share shall be the same; Any unit or individual shall pay the same price for each share subscribed.
Article 127 The issue price of shares may be at or above par value, but not below par value.
Article 128 The shares shall be in paper form or other forms as stipulated by the the State Council Securities Regulatory Authority.