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兼顾“传富”与“掌权” 上市公司股东“试水”股权信托
2 1 Shi Ji Jing Ji Bao Dao· 2025-10-22 23:05
目前,中国第一代富裕人群的财富管理需求逐渐从"创富""守富"走入"传富"的阶段,而现实中,不少家 族企业在传承中频频出现的"分家"与"内斗"成为了其财富和企业顺利交接的绊脚石。 一边是股权控制,一边是家族和谐,如何巧妙平衡二者的关系是传承中必须考量的核心问题。 4月,361度国际有限公司(以下简称"361度")发布公告,宣布公司六位股东,丁伍号、丁辉煌、丁辉 荣、王加碧、丁建通及王加琛,分别设立家族信托,通过离岸架构将合计约65.60%的公司股权转入信 托计划。 无独有偶,今年9月,同样出身福建省的海能达创始人陈清州也将其持有的公司5%的股份转入一份信 托。 记者观察到,今年不少上市公司股东将公司股权巧妙装入信托,从而实现了"传富"与"掌权"的完美平 衡。 2月,濮阳惠成电子材料股份有限公司(以下简称"濮阳惠成")的一则公告向外界展示了上市公司的实 控人如何通过精巧的三层架构,将大部分股份所有权装入了家族信托。 此前,将股权放入信托来传承家族财富还是少数的尝试,而在今年4月10日,北京市出台了《关于做好 股权信托财产登记工作的通知(试行)》(以下简称《通知》),明确了股权信托财产登记的总体要 求、适用范围、办 ...
兼顾“传富”与“掌权”,上市公司“试水”股权信托
2 1 Shi Ji Jing Ji Bao Dao· 2025-10-22 12:00
Core Viewpoint - The article discusses the increasing trend of Chinese listed companies utilizing equity trusts to balance wealth inheritance ("传富") and control ("掌权") as family businesses face challenges in wealth transfer due to internal conflicts and division [1][2]. Group 1: Equity Trust Implementation - Many listed companies have started to incorporate equity into trusts to achieve a balance between wealth transfer and control, as seen in the cases of Puyang Huicheng and 361 Degrees, where significant portions of shares were transferred into family trusts [3][4]. - The introduction of the "Notice on the Registration of Equity Trust Property" by Beijing in April 2023 has clarified the registration requirements and processes for equity trusts, leading to increased recognition and acceptance of this method [3][7]. Group 2: Structural Advantages - The "family trust + limited partnership" model has emerged as a mainstream approach, allowing for the separation of ownership, control, and income rights, thus ensuring stable governance and facilitating intergenerational wealth transfer [5][6]. - This model enables founders to retain control while placing equity into trusts, which can dynamically adjust according to family needs and external conditions, thus enhancing governance stability [5][6]. Group 3: Challenges and Considerations - Despite the potential benefits, the establishment of equity trusts faces challenges, including regulatory hurdles, the need for clear decision-making authority, and tax compliance issues [8][9]. - The lack of a unified registration system for equity trusts and the complexity of tax implications are significant barriers to the widespread adoption of equity trusts in China [7][9].