Article 27 of the Company Law: Shareholders may make capital contributions in cash, or in kind, intellectual property rights, land use rights and other non-monetary property that can be valued in money and transferred according to law. However, except for the property that cannot be used as capital contribution as stipulated by laws and administrative regulations.
Non-monetary property as capital contribution shall be evaluated and verified, and its value shall not be overestimated or underestimated. Where there are provisions in laws and administrative regulations on evaluation and pricing, those provisions shall prevail.
Article 46 The board of directors shall be responsible to the shareholders' meeting and exercise the following functions and powers:
Convene the shareholders' meeting and report the work to the shareholders' meeting;
To implement the resolutions of the shareholders' meeting;
Decide on the company's business plan and investment plan;
To formulate the company's annual financial budget and final accounts;
To formulate the company's profit distribution plan and loss compensation plan;
To formulate plans for the company to increase or decrease its registered capital and issue corporate bonds;
To formulate plans for the merger, division, dissolution or change of corporate form of the company;
Decide on the establishment of the internal management organization of the company;
To decide on the appointment or dismissal of the company manager and their remuneration, and to decide on the appointment or dismissal of the company's deputy manager and financial officer and their remuneration according to the nomination of the manager;
Formulate the basic management system of the company;
Other functions and powers as stipulated in the Articles of Association.