(1)67%和33%:绝对控制权
(1) 67% and 33%: absolute control
山东顶层架构设计公司提示，针对有限责任公司，《公司法》中规定了七种情形需要“经代表三分之二以上表决权的股东通过”才能生效，包括:增资、减资、合并、分立、解散、变更公司组织形式、修改章程等。
Shandong Top Architecture Design Company reminds that for limited liability companies, the Company Law stipulates seven situations that require the approval of shareholders representing two-thirds or more of the voting rights to take effect, including: capital increase, capital reduction, merger, division, dissolution, change of company organizational form, modification of articles of association, etc.
除了这七种法定情形外，投资人之间也可以约定其他经213以上表决权通过的事项。所以，如果股东单独或者联合起来持股67%以上，那么就在这些事项的决策中拥有绝对的话语权，这是一种积极的控制权、绝对控制权。持股3%以下的股东理论上只是财务投资者了，在公司治理中已经丧失话语权。
In addition to these seven legal situations, investors can also agree on other matters that have been approved with more than 213 voting rights. So, if shareholders individually or jointly hold more than 67% of the shares, they have absolute say in the decision-making of these matters, which is a positive and absolute control right. Shareholders holding less than 3% of shares are theoretically only financial investors and have lost their voice in corporate governance.
(2)51%和49%:相对控制权
(2) 51% and 49%: relative control
持股519%以上67%以下的股东，拥有的是一种相对控制权，也是积极的控制权。《公司法》中规定除了前述七种情况需要2/3以上通过外，其他事项一般都是过半数通过即可生效。这意味着只要股东单独或者联合起来持股51%以上，就可以在这些事项中拥有控制权。
Shareholders holding more than 519% but less than 67% of the shares have a relative control and active control. According to the Company Law, except for the seven situations mentioned above that require more than two-thirds approval, other matters generally take effect after being approved by a majority. This means that as long as shareholders individually or jointly hold more than 51% of the shares, they can have control over these matters.
不过，这是一个简单的控制标准，如果公司有后续增发融资，该比例很容易被突破，这种情况下，大股东联合其他原股东保持控制权就显得很重要。在这种股权架构中，持股49%以下的股东虽然不能行使积极的控制权，但仍然有消极的控制权(即否决权)(3)34%和66%:消极控制权
However, this is a simple control standard, and if the company has subsequent additional financing, this ratio is easily breached. In this case, it is important for the major shareholders to maintain control in conjunction with other original shareholders. In this equity structure, although shareholders holding less than 49% cannot exercise active control, they still have negative control (i.e. veto power) (3) 34% and 66%: negative control
持股34%的股东，虽然不能单独就公司重要事项作出决策，但是可以就某些事项进行否决，通过行使否决权而在一定程度上起到消极控制公司的效果，即所谓的“成事不足、败事有余”。持股66%6的股东虽然不能绝对地控制公司，但仍然达到51%以上，可以行使相对控制权。
Shareholders holding 34% of the shares, although unable to make decisions on important matters of the company alone, can veto certain matters and exercise the veto power to a certain extent, achieving a negative control effect on the company, which is known as "insufficient success and excessive failure". Although shareholders holding 66% of the shares cannot absolutely control the company, they still reach over 51% and can exercise relative control.
(4)30%:上市公司的临界控制权
(4) 30%: Critical Control of Listed Companies
根据《上市公司收购管理办法》，如果投资人可以实际支配上市公司股份的表决权超过30%，就会被认定为拥有对上市公司的控制权，这也是拥有控制权的低比例要求。
According to the "Management Measures for the Acquisition of Listed Companies", if investors can actually control more than 30% of the voting rights of the shares of the listed company, they will be deemed to have control over the listed company, which is also a low proportion requirement for having control.
(5)寄生型数字:依附控制权
(5) Parasitic Numbers: Dependent Control
这类数字是不固定的，一般是指单独持股比例很小，但是一旦依附于某个股东立即可形成控制权，并且依附于哪个股东，该被依附股东就会拥有控制权。
This type of number is not fixed, generally referring to a small proportion of individual shareholding, but once it is attached to a certain shareholder, it can immediately form control, and the dependent shareholder will have control.
比如，在9%。49%:2%的股权架构中，持脱2%的胶东可以自由决定与哪个股东结合投票，而且一旦结合就会赋予该股东以控制权(达到51%)，这种情况下公司的控制权定程度上可以认为掌握在2%的股东手中。
For example, at 9%. 49%: In the 2% equity structure, Jiaodong, which holds 2% off, can freely decide which shareholder to vote with, and once combined, it will give the shareholder control (up to 51%). In this case, the company's control can be considered to be held by the 2% shareholder to some extent.
其他比如在57%:33%:10%的股权架构中，持股10%的股东也具有类似效果。数字结构可以有很多种组合，原理是一样的。
For example, in a 57%: 33%: 10% equity structure, shareholders holding 10% have a similar effect. There are many combinations of digital structures, and the principle is the same.
应当注意的是，在股权架构设计中一定要避免均衡型的持股结构(比如50%:50%、25%:25%:25%:25%等)，这种结构的大弊端在于，一旦股东之间发生矛盾，大家势均力敌，很容易导致股东会不能做出决策并形成公司僵局，给经营管理和业务发展带来重大不利影响。
It should be noted that in the design of the equity structure, it is necessary to avoid a balanced shareholding structure (such as 50%: 50%, 25%: 25%: 25%, etc.). The major drawback of this structure is that once conflicts arise between shareholders, everyone is evenly matched, which can easily lead to the inability of the shareholders' meeting to make decisions and form a company deadlock, bringing significant adverse effects to business management and development.
That's all for the content on several important numbers that affect control in the equity structure. If you have any doubts or needs about this, please come to our website http://www.lushangyun.com Consult!
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