股权激励方案落地执行
十年股权整理解决方案落地实施

企业按照不同经营所有制可以划分为民企、国企、混合所有制企业等，也可以分为上市公司和非上市公司。

Enterprises can be classified into private enterprises, state-owned enterprises, mixed ownership enterprises, etc. according to different business ownership, as well as listed companies and non listed companies.

不同所有制度企业作股权设计的限制条件不同。

The restrictions on equity design vary among enterprises with different ownership systems.

以国有企业为例，国有股权转让、激励等股权变动因为面临严格的国有资产评估审计要求，相比于普通民企而言，其股权结构设计的限制较多。

Taking state-owned enterprises as an example, the transfer of state-owned equity, incentives, and other equity changes face strict requirements for state-owned asset evaluation and auditing. Compared to ordinary private enterprises, their equity structure design has more restrictions.

不同于非上市公司，上市公司股权结构的设计和变动还必须考虑股票减持规则、披露规则、质押规则等资本市场系列规则的重大影响。

Unlike non listed companies, the design and changes of equity structure in listed companies must also consider the significant impact of capital market series rules such as stock reduction rules, disclosure rules, and pledge rules.

股东为公司带来资本、自然资源、技术和知识、市场资源、管理经验等企业经营发展所需资源要素，不同行业、不同资源要素主导的企业作股权设计的股东资质不同，对应的出资比例也应作相应调整。

Shareholders bring capital, natural resources, technology and knowledge, market resources, management experience and other necessary resource elements for the operation and development of the company. Enterprises dominated by different industries and resource elements have different shareholder qualifications for equity design, and the corresponding contribution ratio should also be adjusted accordingly.

以科创企业为例，不同于传统“劳动密集型”和“资本密集型”企业，“科技资本”决定这类公司的命运，股东的知识产权和技术能力是公司股权结构设计的决定因素。

Taking science and technology innovation enterprises as an example, unlike traditional "labor-intensive" and "capital intensive" enterprises, "technology capital" determines the fate of such companies, and shareholders' intellectual property and technological capabilities are the determining factors in the design of the company's equity structure.

处于不同生命周期的企业对公司股权结构设计的需求也不同，处于初创和成长期间的企业股权结构和公司治理都在动态发展变化，有大量股权结构设计和完善方面需求，这点有别于处在成熟、转型或者衰退期间的企业需求。

Enterprises in different life cycles also have different demands for the design of corporate equity structure. The equity structure and corporate governance of enterprises in the start-up and growth stages are dynamically developing and changing, with a large number of demands for equity structure design and improvement, which is different from the demands of enterprises in the mature, transformation or decline stages.

不同类型企业需求设计公司股权结构时需要遵循几条一般性原则，我们归纳起来最重要的有四点：

There are several general principles that need to be followed when designing a company's equity structure for different types of enterprises. We have summarized the four most important ones:

1、资源互补、理念相近。

1. Complementary resources and similar concepts.

股东之间企业经营理念和价值观应当相近，互相信任，但是股东之间的资源能力要互补，尽量不要重合，有利于企业内部权责划分。

Shareholders should have similar business philosophy and values, trust each other, but their resource capabilities should complement each other and try not to overlap, which is conducive to the division of responsibilities within the enterprise.

2、预留股权、动态调整。

2. Reserved equity and dynamic adjustment.

包括为公司核心员工、潜在合伙人、外部投资机构预留股权池，为吸引新的人才、资源和后续发展做准备。

This includes reserving equity pools for core employees, potential partners, and external investment institutions to prepare for attracting new talent, resources, and future development.

3、核心股东、比例梯次。

3. Core shareholders and proportional hierarchy.

特别是在发展早期，企业要有一个核心股东作为实际控制人并担任重要职务去决策拍板，避免议而不决导致公司治理僵局，并结合上文提及的公司股权8条重要比例线去设计明显的股权架构梯次。

Especially in the early stages of development, a company should have a core shareholder as the actual controller and hold an important position to make decisions and avoid governance deadlock caused by indecision. In addition, a clear equity structure hierarchy should be designed based on the eight important proportion lines of the company's equity mentioned earlier.

4、简单明晰，排除不稳定因素。

4. Simple and clear, excluding unstable factors.

特别是对于股东人数不是特别多的初创公司而言，要慎用隐名股东、干股等特殊股权结构。

Especially for start-up companies with a relatively small number of shareholders, special equity structures such as anonymous shareholders and dry shares should be used with caution.