General resolutions of shareholders’ meetings must be approved by shareholders representing more than half of the voting rights. However, resolutions to amend the company's articles of association, increase or decrease registered capital, merge, split, or dissolve must be passed by shareholders representing more than two-thirds of the voting rights.

To establish a limited liability company, the following conditions must be met:

1. The shareholders meet the quorum;

2. All shareholders must subscribe in compliance with the provisions of the company's articles of association. The amount of capital contribution;

3. The shareholders jointly formulate the articles of association;

4. Have a company name and establish an organizational structure that meets the requirements of a limited liability company;

A limited liability company is established with capital contribution from less than fifty shareholders.

To establish a joint-stock company, there should be at least two but not more than 200 people as promoters, of which more than half of the promoters must have domiciles in China.

Legal basis:

Article 20 of the "Company Law of the People's Republic of China"

Shareholders of a company shall abide by laws, administrative regulations and the company's articles of association , exercise shareholder rights in accordance with the law, and shall not abuse shareholder rights to harm the interests of the company or other shareholders; shall not abuse the independent status of a company's legal person and the limited liability of shareholders to harm the interests of the company's creditors.

If a company’s shareholders abuse their rights and cause losses to the company or other shareholders, they shall be liable for compensation in accordance with the law.

If a company's shareholders abuse the company's independent status as a legal person and the limited liability of shareholders, evade debts, and seriously damage the interests of the company's creditors, they shall bear joint and several liability for the company's debts.

Article 21

The company’s controlling shareholders, actual controllers, directors, supervisors, and senior managers shall not use their related relationships to harm the interests of the company.

Whoever violates the provisions of the preceding paragraph and causes losses to the company shall be liable for compensation.