Protection of Minority Shareholders' Rights under Dual-Class Share Structure

Under the dual-class share structure, the property rights and voting rights of shareholders are separated, and the different allocation of voting rights results in special voting shares and ordinary shares. Compared with the traditional share structure, minority shareholders of listed companies' ordinary shares bear more risks and require more institutional protection. Currently, due to the lack of effectiveness in information disclosure, insufficient sunset clause effectiveness, and imperfect litigation mechanisms, the protection of minority shareholders' rights is limited. It is necessary to improve the information disclosure system, supplement time-based sunset clauses, and enhance the securities class action system to promote the construction of minority shareholders' rights protection mechanisms.