The capital contribution certificate has the following characteristics:
First, the capital contribution certificate is a non-equity securities. That is to say, the rights of shareholders are not created by the capital contribution certificate, but come from the capital contribution of shareholders. Capital contribution certificate only records and reflects the objective situation of shareholders' capital contribution, so it is different from equity securities with rights.
Second, the capital contribution certificate is a necessary securities. That is, the production and recording of the capital contribution certificate must be carried out in a legal way.
Third, the capital contribution certificate is a kind of securities. The capital contribution certificate is an important document for shareholders to enjoy their rights. However, capital contribution certificates are different from stocks, which are securities, while capital contribution certificates are non-negotiable securities or securities whose circulation is strictly restricted.
Fourth, the capital contribution certificate is unique to a limited liability company. Compared with a company limited by shares, the certificate of shareholders' equity of a company limited by shares is called a stock, not a capital contribution certificate.
Fifth, the capital contribution certificate is a certificate issued after the establishment of a limited liability company to prove shareholders' rights and interests. Before the establishment of the company, it cannot be issued to the shareholders of the company.
Stock is a share certificate issued by a joint stock limited company to investors when raising capital, which represents the ownership of the joint stock company by its holders (that is, shareholders).
Stock is the right to claim the company's income and assets.
This kind of ownership is a comprehensive right, for example, ordinary shareholders can attend shareholders' meetings, vote, participate in major decisions of the company, receive dividends or share dividends. Every stock in the same category represents the equal ownership of the company. The share of ownership of the company owned by each shareholder depends on the proportion of shares held by each shareholder to the total share capital of the company. Generally, stocks can be traded and transferred with compensation, and shareholders can recover their investment through stock transfer, but they cannot ask the company to return their investment. However, the company can buy back its own issued shares through the stock market, raise the stock price to protect the rights of shareholders and concentrate the rights and interests of each share. The purpose of this practice is to protect the rights of small and medium circulation shareholders. The relationship between shareholders and the company is the relationship between ownership and ownership, which is different from the relationship between creditor's rights and debts. Therefore, the shareholder's claim to the company is the residual claim, and only when the creditor fully recovers the creditor's rights can the remaining assets be claimed. Shareholders are the owners of the company, and they shall bear limited responsibilities, risks and profits to the extent of their capital contribution. (Of course, some shareholders of high-speed technology enterprises may obtain shareholder status with his technology as capital contribution. Enterprises can raise funds by issuing shares to the public, or enrich their assets by private placement. At present, most of the companies listed on Shanghai Stock Exchange and Shenzhen Stock Exchange are state-owned holding companies, but a considerable number of them are private joint-stock companies.
Necessary securities must be conducted in strict accordance with the law, and stocks must be conducted in accordance with the law.
Securities with warrants are simpler, that is, stocks are securities with warrants. Although the stock is paperless now, this feature remains unchanged, because it is only paperless in the trading market, and the stock of non-listed companies is still in the form of vouchers.
Capital security is the main form of securities, which refers to the securities produced by financial investment or activities directly related to financial investment. Specifically, capital security includes stocks, bonds and their derivatives, such as financial futures and convertible securities.
Comprehensive rights such as attending shareholders' meetings, voting, and participating in major decisions of the company.