Core Viewpoint - The new Company Law, effective from July 1, 2024, allows shareholders to further copy shareholder information, raising concerns about the sensitivity of shareholder registers and the need for appropriate regulations to balance shareholder rights and company operations [1][5][9]. Group 1: Shareholder Rights and Regulations - Shareholders have the right to access company articles and shareholder registers as per the Company Law [5]. - The new Company Law introduces a provision that shareholders must comply with the Securities Law and other regulations when accessing and copying relevant materials [5][10]. - There is a lack of uniformity among listed companies regarding the interpretation of shareholder access to shareholder registers, with some companies allowing broader access while others restrict it to personal holding information [6][9]. Group 2: Case of Shareholder Dispute - A well-known investor, Xie Kai, faced verbal abuse from a lawyer while attempting to access the shareholder register of *ST Lihang, highlighting tensions between shareholders and company representatives [2][3]. - Xie Kai, known for his significant investments, has shown interest in various Sichuan-listed companies but was not listed among the top shareholders of *ST Lihang as of mid-2025 [3][4]. Group 3: Access Procedures and Company Policies - Companies have different procedures for accessing shareholder registers, with some requiring in-person visits and confidentiality agreements, while others may allow access via email or phone after verifying shareholder identity [6][8]. - The necessity for shareholders to provide identification and proof of ownership is emphasized to protect sensitive information contained in the shareholder register [8][10]. - Some companies have begun to establish formal procedures for accessing shareholder registers, but only a few have implemented comprehensive systems [11].

Core Viewpoint - The new Company Law, effective from July 1, 2024, allows shareholders to not only access but also copy shareholder information, raising concerns about the sensitivity of shareholder registers and the need for regulations to balance shareholder rights and company operations [1][4][8]. Group 1: Shareholder Rights and Regulations - The new Company Law stipulates that shareholders have the right to access and copy the company’s articles of association and shareholder register [1][4]. - Currently, only a few A-share listed companies have established a system for accessing shareholder registers, indicating a need for further market development to balance shareholder rights and company operations [1][4]. - There are discrepancies among listed companies regarding the interpretation of shareholder access to the shareholder register, with some allowing access to personal holding information only, while others permit broader access [4][5][9]. Group 2: Case of Shareholder Dispute - A notable incident involved a well-known investor, Xie Kai, who claimed to have faced verbal abuse from a lawyer while attempting to access the shareholder register of *ST Lihang, highlighting tensions between shareholders and company representatives [2][3]. - Xie Kai, known for his significant investments and past successes, has shown interest in various Sichuan-listed companies, although he was not listed among the top shareholders of *ST Lihang as of mid-2025 [2][3]. Group 3: Access Methods and Company Policies - Companies have varied policies regarding how shareholders can access the shareholder register, with some requiring in-person visits and others allowing remote access after verifying shareholder identity [5][7][10]. - Certain companies, like *ST Lihang, require shareholders to sign confidentiality agreements and provide proof of ownership before accessing the register, emphasizing the importance of protecting sensitive information [7][10]. - The establishment of internal regulations by companies, such as the one by Chuangyuan Xinke, aims to provide clear guidelines for accessing and copying shareholder registers while ensuring confidentiality [10]. Group 4: Balancing Interests - The potential for conflicts arises from the sensitive nature of shareholder registers, necessitating a balance between shareholder rights and the operational efficiency of companies [8][9]. - Legal experts suggest that unrestricted access to shareholder information could lead to unfair practices, advocating for a structured approach to managing shareholder inquiries [8][9]. - Recommendations include defining the boundaries of access to shareholder registers and implementing measures to protect sensitive data while ensuring fair market practices [9].

Core Viewpoint - The article discusses a dispute between shareholders and the company Junjiu Electronics Technology (Shanghai) Co., Ltd., particularly focusing on the issue of shareholder rights to information and deeper underlying conflicts between shareholders and the company [3][4][6]. Group 1: Shareholder Disputes - The main shareholder involved in the dispute is Kaifeng Venture Capital, which holds a 6.56% stake in Junjiu [3]. - Kaifeng has initiated legal action against the company, claiming infringement of shareholder rights to information, while the company is also involved in a labor contract dispute with a key shareholder, Jin Ye [4][6]. - The situation is complicated by the fact that Jin Ye, who has been with the company since its inception in 2016, is also a significant shareholder [4]. Group 2: Legal Actions and Implications - Kaifeng's legal actions appear to be more than just a simple request for information, as they have requested a special audit shortly after a new investment round was completed [6][7]. - The company's compliance with shareholder information rights has been called into question, particularly given the timing of Kaifeng's demands and subsequent legal actions [6][7]. - An internal letter from the company suggests that Kaifeng's actions are specifically targeting the company and one founding shareholder, rather than the entire founding team, indicating potential deeper conflicts [7][11]. Group 3: Underlying Relationships - There is mention of a "secret agreement" between Jin Ye and Kaifeng, which raises questions about the nature of their relationship and potential undisclosed interests [11]. - The article hints at a complex web of relationships and conflicts among the company's shareholders, suggesting that the situation may involve undisclosed financial or strategic interests [11][12]. - The author calls for more media attention to uncover the truth behind the shareholder and company conflicts, indicating that this may not be the last article on the subject [12][13].