It depends. The proxy signature is invalid in principle, but if the signed shareholder later performs the contract with practical actions, it is regarded as ratification of the contract and the contract is valid. Without ratification by the principal, it shall have no effect on the principal.

Legal objectivity:

Article 71 Shareholders of a limited liability company may transfer all or part of their shares to each other. Shareholders' transfer of equity to persons other than shareholders shall be approved by more than half of other shareholders. Shareholders shall notify other shareholders in writing to agree to the transfer of their shares. If other shareholders fail to reply within 30 days from the date of receiving the written notice, they shall be deemed to have agreed to the transfer. If more than half of the other shareholders do not agree to the transfer, the shareholders who do not agree shall purchase the transferred equity; Do not buy, as agreed to transfer. Under the same conditions, other shareholders have the priority to purchase the equity transferred with the consent of shareholders. Article 139 Registered shares shall be transferred by endorsement or by other means prescribed by laws and administrative regulations. After the transfer, the company shall record the name and domicile of the transferee in the register of shareholders. Changes in the register of shareholders as mentioned in the preceding paragraph shall not be registered within 20 days before the convening of the shareholders' general meeting or five days before the benchmark date for the company to decide on dividend distribution. However, if there are other provisions in the law on the registration of changes in the register of shareholders of listed companies, those provisions shall prevail.