员从公司获得报酬的情况。
Section 4 Board of Supervisors
第四节 监事会
Article 118 A joint stock limited company shall set up a board of supervisors, which shall be composed of at least 3 persons.
The board of supervisors shall include representatives of shareholders and an appropriate percentage of representatives of the company’s employees. The percentage of the
representatives of employees shall account for no less than 1/3 of all the supervisors, but the concrete percentage shall be specified in the bylaw. The representatives of employees who serve as members of the board of supervisors shall be democratically elected through the assembly of representatives of the company’s employees, the shareholders’ assembly or by other means. The board of supervisors shall have one chairman and may have a deputy chairman. The chairman and deputy chairman shall elected by more than half of all the supervisors. The chairman of the board of supervisors shall call and preside over the meetings of the board of supervisors. If the chairman of the board of supervisors is unable or fails to perform his duties, the deputy chairman of the board of supervisors shall call and preside over the meeting of the board of supervisors. If the deputy chairmen of the board of supervisors are unable or fail to perform their duties, a supervisor jointly recommended by half or more of the supervisors shall call and preside over the meetings of the board of supervisors. No director or senior manager may concurrently act as a supervisor.
The provisions of Article 53 of this Law on the term of office of the supervisors of a limited liability company shall apply to the supervisors of a joint stock limited company.
Article 119 The provisions of Articles 54 and 55 of this Law on the functions of a limited liability company shall apply to the board of supervisors of a joint stock limited company/
The expenses necessary for the board of supervisors to exercise its functions shall be borne by the company.
Article 120 The board of supervisors shall hold at least one meeting every 6 months. The supervisors may propose to call interim meetings of the board of supervisors.
The discussion methods and voting procedures of the board of supervisors shall be specified in the bylaw unless it is otherwise provided for by this Law.
The board of supervisors shall prepare minutes for the decisions about the matters discussed at the meeting, which shall be signed by the supervisors in presence.
第一百一十八条 【监事会的设立与组成】股份有限公司设监事会，其成员不得少于三人。 监事会应当包括股东代表和适当比例的公司职工代表，其中职工代表的比例不得低于三分之一，具体比例由公司章程规定。监事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他形式民主选举产生。
监事会设主席一人，可以设副主席。监事会主席和副主席由全体监事过半数选举产生。监事会主席召集和主持监事会会议；监事会主席不能履行职务或者不履行职务的，由监事会副主席召集和主持监事会会议；监事会副主席不能履行职务或者不履行职务的，由半数以上监事共同推举一名监事召集和主持监事会会议。
董事、高级管理人员不得兼任监事。 本法第五十三条关于有限责任公司监事任期的规定，适用于股份有限公司监事。
第一百一十九条 【监事会的职权】本法第五十四条、第五十五条关于有限责任公司监事会职权的规定，适用于股份有限公司监事会。
监事会行使职权所必需的费用，由公司承担。 第一百二十条 【监事会的会议制度】监事会每六个月至少召开一次会议。监事可以提议召开临时监事会会议。
监事会的议事方式和表决程序，除本法有规定的外，由公司章程规定。
监事会决议应当经半数以上监事通过。 监事会应当对所议事项的决定作成会议记录，出席会议的监事应当在会议记录上签名。
Section 5 Special Provisions on the Organizational structure of A Listed Company
第五节 上市公司组织机构的特别规定
Article 121 The term \companies whose stocks are listed and traded in a stock exchange.
第一百二十一条 【上市公司的定义】本法所称上市公司，是指其股票在证券交易所上市交易的股份有限公司。
Article 122 Where a listed company purchases or sells any important asset, or provides guaranties that exceed 30% of the company’s total assets within a year, such actions shall be authorized the resolutions made by the shareholders’ assembly and adopted by the shareholders representing 2/3 of the voting rights of the shareholders who attend the assemblies.
Article 123 A listed company shall have independent directors. The concrete measures shall be formulated by the State Council.
第一百二十二条 【重大资产买卖与重要担保的议事规则】上市公司在一年内购买、出售重大资产或者担保金额超过公司资产总额百分之三十的，应当由股东大会作出决议，并经出席会议的股东所持表决权的三分之二以上通过。
第一百二十三条 【独立董事的设立】上市公司设立独立董事，具体办法由国务院规定。
Article 124 A listed company may have a secretary of the board of directors, who shall be responsible for the preparation of the sessions of shareholders’ assembly and meetings of the board of directors, the preservation of documents, the management of the company’s stock rights, and the information of disclosure, etc.
Article 125 Where any of the directors has any relationship with the enterprise involved in the matter to be decided at the meeting of the board of directors, he shall not vote on this resolution, nor may he vote on behalf of any other person. The meeting of the board of directors shall not be held unless more than half of the unrelated directors are present at the meeting. A resolution of the board of directors shall be adopted by more than half of the unrelated directors. If the number of unrelated directors in presence is less than 3 persons, the matter shall be submitted to the shareholders’ assembly of the listed company for deliberation.
第一百二十四条 【董事会秘书的设立及其职权】上市公司设董事会秘书，负责公司股东大会和董事会会议的筹备、文件保管以及公司股东资料的管理，办理信息披露事务等事宜。
第一百二十五条 【关联关系董事回避与相关事项议事规则】上市公司董事与董事会会议决议事项所涉及的企业有关联关系的，不得对该项决议行使表决权，也不得代理其他董事行使表决权。该董事会会议由过半数的无关联关系董事出席即可举行，董事会会议所作决议须经无关联关系董事过半数通过。出席董事会的无关联关系董事人数不足三人的，应将该事项提交上市公司股东大会审议。
Chapter V Issuance and Transfer of Shares of A Joint Stock Limited Company
第五章 股份有限公司的股份发行和转让
Section 1 Issuance of Shares
第一节 股份发行
Article 126 The capital of a joint stock limited company shall be divided into shares and all the shares shall be of equal value.
The shares of a company are represented by stocks. A stock is a certificate issued by the company to certify the share held by a shareholder.
第一百二十六条 【股份有限公司的股份及其形式】股份有限公司的资本划分为股份，每一股的金额相等。
公司的股份采取股票的形式。股票是公司签发的证明股东所持股份的凭证。
Article 127 The issuance of shares shall comply with the principle of fairness and impartiality. The shares of the same class shall have the same rights and benefits. The stocks issued at the same time shall be equal in price and shall be subject to the same conditions. The price of each share purchased by any organization or individual shall be the same.
第一百二十七条 【股份有限公司股份发行的原则】股份的发行，实行公平、公正的原则，同种类的每一股份应当具有同等权利。
同次发行的同种类股票，每股的发行条件和价格应当相同；任何单位或者个人所认购的股份，每股应当支付相同价额。
Article 128 The stocks may be issued at a price equal to or in excess of par value, but not below par value.
第一百二十八条 【股票发行的价格】股票发行价格可以按票面金额，也可以超过票面金额，但不得低于票面金额。
Article 129 The stocks shall be in paper form or in other forms prescribed by the securities regulatory institution of the State Council. A stock shall state the following major items: (1) The company name;
(2) The company’s date of establishment;
(3) The class and par value of the stock, as well as the number of shares it represents; and (4) The serial number of the stock.
The stock shall bear the signature of the legal representative and the seal of the company. The stocks held by the promoters shall be marked with the words \
第一百二十九条 【股票形式与应载明的事项】股票采用纸面形式或者国务院证券监督管理机构规定的其他形式。
股票应当载明下列主要事项： （一）公司名称； （二）公司成立日期；
（三）股票种类、票面金额及代表的股份数； （四）股票的编号。
股票由法定代表人签名，公司盖章。 发起人的股票，应当标明发起人股票字样。
Article 130 The stocks issued by a company may be registered stocks or unregistered stocks. The stocks issued to promoters or legal persons shall be registered stocks, which shall state the names of such promoters or legal persons, and shall not be registered in any other person’s name or the names of any representative.
第一百三十条 【股票种类】公司发行的股票，可以为记名股票，也可以为无记名股票。 公司向发起人、法人发行的股票，应当为记名股票，并应当记载该发起人、法人的名称或者姓名，不得另立户名或者以代表人姓名记名。
Article 131 A company that issues registered stocks shall prepare a register of shareholders, which shall state the following:
第一百三十一条 【股东名册的置备及内容】公司发行记名股票的，应当置备股东名册，记载下
(1) The name and domicile of each shareholder; (2) The number of shares held by each shareholder;
(3) The serial numbers of the stocks held by each shareholder; and (4) The date on which each shareholder acquired his shares.
A company issuing unregistered stocks shall record the amount, serial numbers and issuance date of the stocks.
列事项：
（一）股东的姓名或者名称及住所； （二）各股东所持股份数； （三）各股东所持股票的编号； （四）各股东取得股份的日期。
发行无记名股票的，公司应当记载其股票数量、编号及发行日期。
Article 132 For the company’s issuance of other shares not provided for in this Law, the State Council may formulate separate provisions.
第一百三十二条 【其他种类股票】国务院可以对公司发行本法规定以外的其他种类的股份，另行作出规定。
Article 133 After a joint stock limited company is established, it shall formally deliver the stocks to the shareholders. No company may deliver any stock to the shareholders prior to its establishment.
Article 134 Where a company intends to issue new stocks, it shall, under its bylaw, make a resolution about the following matters through the shareholders’ assembly or board of directors: (1) The class and amount of new stocks; (2) The issuing price of the new stocks;
(3) The beginning and ending dates for the issuance of new stocks; and
(4) The class and amount of the new stocks to be issued to the original shareholders. Article 135 When a company publicly issues new stocks upon approval of the securities regulatory institution, it shall publish a new stock prospectus and its financial reports, and shall make a stock subscription form.
The provisions of Articles 88 and 89 of this Law shall apply to the public offering of new stocks of a company.
第一百三十三条 【向股东交付股票的时间】股份有限公司成立后，即向股东正式交付股票。公司成立前不得向股东交付股票。
第一百三十四条 【发行新股的决议事项】公司发行新股，股东大会应当对下列事项作出决议： （一）新股种类及数额； （二）新股发行价格； （三）新股发行的起止日期；
（四）向原有股东发行新股的种类及数额。 第一百三十五条 【新股发行公告、募股方式及缴纳股款方式】公司经国务院证券监督管理机构核准公开发行新股时，必须公告新股招股说明书和财务会计报告，并制作认股书。
本法第八十八条、第八十九条的规定适用于公司公开发行新股。
Article 136 When a company issues new stocks, it may make a pricing plan according to its business operations and financial status.
第一百三十六条 【新股作价方案的确定】公司发行新股，可以根据公司经营情况和财务状况，确定其作价方案。
Article 137 After a company raises enough capital, it shall go through modification registration in the company registration authority and make an public announcement.
第一百三十七条 【新股募足后的变更登记及公告】公司发行新股募足股款后，必须向公司登记机关办理变更登记，并公告。
Section 2 Transfer of Shares
第二节 股份转让
Article 138 The shares held by the stockholders may be transferred according to laws.
第一百三十八条 【股份可依法转让】股东持有的股份可以依法转让。
第一百三十九条 【转让股份的场所】股东转
Article 139 Where a stockholder intends to transfer its shares, it shall transfer its shares in a lawfully established stock exchange or by any other means as prescribed by the State Council.
让其股份，应当在依法设立的证券交易场所进行或者按照国务院规定的其他方式进行。
Article 140 Registered stocks may be assigned by their stockholders’ endorsement or by any other means prescribed by the relevant laws or administrative regulations. After the
assignment, the company shall record the name and domicile of the transferee in the register of shareholders. Within 20 days before an assembly of shareholders is held, or within 5 days prior to the benchmark date decided by the company for the distribution of dividends, no modification registration may be made to the register of shareholders as mentioned in the preceding paragraph. However, if any law provides otherwise for the modification registration of the
第一百四十条 【记名股票的转让】记名股票，由股东以背书方式或者法律、行政法规规定的其他方式转让；转让后由公司将受让人的姓名或者名称及住所记载于股东名册。
股东大会召开前二十日内或者公司决定分配股利的基准日前五日内，不得进行前款规定的股东名册的变更登记。但是，法律对上市公司股东名册变
register of shareholders of listed companies, the latter shall prevail. 更登记另有规定的，从其规定。
Article 141 The transfer of an unregistered stock takes effect as soon as the stockholder delivers the stock to the transferee.
第一百四十一条 【无记名股票的转让】无记名股票的转让，由股东将该股票交付给受让人后即发生转让的效力。
Article 142 The shares of a company held by the promoters of this company shall not be transferred within 1 year after the date of the establishment of the company. The shares issued before the company publicly issues shares shall not be transferred within 1 year from the day when the stocks of the company get listed and are traded in a stock exchange.
The directors, supervisors and senior managers of the company shall declare to the company the shares held by them and the changes thereof. During the term of office, the shares transferred by any of them each year shall not exceed 25% of the total shares of the company he holds. The shares of the company held by the aforesaid persons shall not be transferred within 1 year from the day when the stocks of the company get listed and are traded in a stock exchange. After any of the aforesaid persons is removed from his post, he shall not transfer the shares of the company he holds. The bylaw may have other restrictions on the transfer of shares held by the directors, supervisors and senior managers.
第一百四十二条 【转让本公司股份的限制】发起人持有的本公司股份，自公司成立之日起一年内不得转让。公司公开发行股份前已发行的股份，自公司股票在证券交易所上市交易之日起一年内不得转让。
公司董事、监事、高级管理人员应当向公司申报所持有的本公司的股份及其变动情况，在任职期间每年转让的股份不得超过其所持有本公司股份总数的百分之二十五；所持本公司股份自公司股票上市交易之日起一年内不得转让。上述人员离职后半年内，不得转让其所持有的本公司股份。公司章程可以对公司董事、监事、高级管理人员转让其所持有的本公司股份作出其他限制性规定。
Article 143 A company shall not purchase its own shares except under any of the following circumstances:
(1) To decrease the registered capital of the company;
(2) To merge another company holding shares of this company; (3) To award the employees of this company with shares; or
(4) It is requested by any shareholder to purchase his shares because this shareholder objects to the company’s resolution on merger or split-up made by the assembly of shareholders. Where a company needs to purchase its own shares for any of the reasons as mentioned in Items (1) through (3) of the preceding paragraph, it shall be subject to a resolution of the shareholders’ assembly. After the company purchases its own shares pursuant to the provisions of the preceding paragraph, it shall, under the circumstance as mentioned in Item (1), write them off within 10 days after the purchase; while under either circumstance as mentioned in Item (2) or (4), transfer them or write them off within 6 months.
The shares purchased by the company according to Item (3) of the preceding paragraph shall not exceed 5% of the total shares already issued by this company. The fund used for the share acquisition shall be paid from the after-tax profits of the company. The shares purchased by the company shall be transferred to the employees within 1 year.
No company may accept any subject matter taking the stocks of this company as a pledge.
第一百四十三条 【禁止收购本公司股份及其例外】公司不得收购本公司股份。但是，有下列情形之一的除外：
（一）减少公司注册资本；
（二）与持有本公司股份的其他公司合并； （三）将股份奖励给本公司职工；
（四）股东因对股东大会作出的公司合并、分立决议持异议，要求公司收购其股份的。 公司因前款第（一）项至第（三）项的原因收购本公司股份的，应当经股东大会决议。公司依照前款规定收购本公司股份后，属于第（一）项情形的，应当自收购之日起十日内注销；属于第（二）项、第（四）项情形的，应当在六个月内转让或者注销。
公司依照第一款第（三）项规定收购的本公司股份，不得超过本公司已发行股份总额的百分之五；用于收购的资金应当从公司的税后利润中支出；所收购的股份应当在一年内转让给职工。 公司不得接受本公司的股票作为质押权的标的。
Article 144 Where any registered stocks are stolen, lost or destroyed, the shareholder may request the people’s court to declare these stocks invalid according to the public notice procedure prescribed in the Civil Procedural Law of the People’s Republic of China. After the people’s court has invalidated these stocks, the shareholder may file an application to the company for the issuance of new stocks.
Article 145 The stocks of a listed company shall get listed and traded according to the relevant laws, administrative regulations, as well as the trading rules of the stock exchange.
第一百四十四条 【公示催告程序】记名股票被盗、遗失或者灭失，股东可以依照《中华人民共和国民事诉讼法》规定的公示催告程序，请求人民法院宣告该股票失效。人民法院宣告该股票失效后，股东可以向公司申请补发股票。
第一百四十五条 【上市公司的股票交易】上市公司的股票，依照有关法律、行政法规及证券交易所交易规则上市交易。
Article 146 A listed company shall, in pursuance of the laws and administrative regulations, publicize its financial status, business operations and important lawsuits, and shall publish its financial reports once every six months in each fiscal year.
第一百四十六条 【上市公司的信息披露公开制度】上市公司必须依照法律、行政法规的规定，公开其财务状况、经营情况及重大诉讼，在每会计
年度内半年公布一次财务会计报告。
Chapter VI Qualifications and Obligations of the Directors, Supervisors and Senior Managers of A Company
Article 147 Anyone who is under any of the following circumstances shall not assume the post of a director, supervisor or senior manager of a company: (1) Being without civil capacity or with only limited civil capacity;
(2) Having been sentenced to any criminal penalty due to an offence of corruption, bribery, encroachment of property, misappropriation of property or disrupting the economic order of the socialist market and 5 years have not elapsed since the completion date of the execution of the penalty; or he has ever been deprived of his political rights due to any crime and 3 years have not elapsed since the completion date of the execution of the penalty;
(3) He was a former director, factory director or manager of a company or enterprise which was bankrupt and liquidated, whereby he was personally liable for the bankruptcy of such company or enterprise, and three years have not elapsed since the date of completion of the bankruptcy and liquidation of the company or enterprise;
(4) He was the legal representative of a company or enterprise, but the business license of this company or enterprise was revoked and this company or enterprise was ordered to close due to a violation of the law, whereby he is personally liable for the revocation, and three years have not elapsed since the date of the revocation of the business license thereof; (5) He has a relatively large amount of debt which is due but has not been paid.
Where a company elects or appoints any director or supervisor, or hires any senior manager by violating the provisions in the preceding paragraph, such elections, appointments, or hiring shall be invalid. Where any director, supervisor or senior manager, during his term of office, is under any of the circumstances as mentioned in the preceding paragraph, the company shall remove him from his post.
Article 148 The directors, supervisors and senior managers shall comply with the laws, administrative regulations, and bylaw. They shall bear the obligations of fidelity and diligence to the company.
No director, supervisor or senior manager may accept any bribe or other illegal gains by taking the advantage of his powers, or encroach on the property of the company. Article 149 No director or senior manager may commit any of the following acts: (1) Misappropriating the company’s fund;
(2) Depositing the company’s fund into an account under his own name or any other individual’s name;
(3) Without consent of the shareholders’ meeting, shareholders’ assembly, or the board of directors, loaning the company’s fund to others or providing any guaranty to any other person by using the company’s property as in violation of the bylaw;
(4) Entering a contract or trading with this company by violating the bylaw or without consent of the shareholders’ meeting or shareholders’ assembly;
(5) Without consent of the shareholders’ meeting or shareholders’ assembly, seeking business opportunities that belong to the company for himself or any other persons by taking advantages of his powers, or operating similar business of the company for which he works for himself or for any other persons;
(6) Taking commissions on the transactions between others and the company into his own pocket;
(7) Illegally disclosing the company’s confidential information;
(8) Other acts inconsistent with the obligation of fidelity to the company. The income of any director or senior manager from any act in violation of the preceding paragraph shall belong to the company.
第六章 公司董事、监事、高级管理人员的资格和
义务
第一百四十七条 【不得担任高级职员的情形】有下列情形之一的，不得担任公司的董事、监事、高级管理人员：
（一）无民事行为能力或者限制民事行为能力；
（二）因贪污、贿赂、侵占财产、挪用财产或者破坏社会主义市场经济秩序，被判处刑罚，执行期满未逾五年，或者因犯罪被剥夺政治权利，执行期满未逾五年；
（三）担任破产清算的公司、企业的董事或者厂长、经理，对该公司、企业的破产负有个人责任的，自该公司、企业破产清算完结之日起未逾三年；
（四）担任因违法被吊销营业执照、责令关闭的公司、企业的法定代表人，并负有个人责任的，自该公司、企业被吊销营业执照之日起未逾三年； （五）个人所负数额较大的债务到期未清偿。 公司违反前款规定选举、委派董事、监事或者聘任高级管理人员的，该选举、委派或者聘任无效。
董事、监事、高级管理人员在任职期间出现本条第一款所列情形的，公司应当解除其职务。 第一百四十八条 【高级职员的一般义务】董事、监事、高级管理人员应当遵守法律、行政法规
和公司章程，对公司负有忠实义务和勤勉义务。 董事、监事、高级管理人员不得利用职权收受贿赂或者其他非法收入，不得侵占公司的财产。 第一百四十九条 【高级职员的禁止行为】董事、高级管理人员不得有下列行为： （一）挪用公司资金；
（二）将公司资金以其个人名义或者以其他个人名义开立账户存储；
（三）违反公司章程的规定，未经股东会、股东大会或者董事会同意，将公司资金借贷给他人或者以公司财产为他人提供担保；
（四）违反公司章程的规定或者未经股东会、
股东大会同意，与本公司订立合同或者进行交易； （五）未经股东会或者股东大会同意，利用职务便利为自己或者他人谋取属于公司的商业机会，自营或者为他人经营与所任职公司同类的业务； （六）接受他人与公司交易的佣金归为己有； （七）擅自披露公司秘密；
（八）违反对公司忠实义务的其他行为。 董事、高级管理人员违反前款规定所得的收入应当归公司所有。