在公司治理架構(gòu)中，通常情況下大股東對于公司的決策起著決定性作用，而持股比例較低的小股東則較難對公司經(jīng)營策略產(chǎn)生顯著影響。更重要的是，小股東在獲取公司信息上往往處于不利地位，其股東知情權(quán)無法得到充分保障。針對這一問題，新《公司法》對股東的知情權(quán)做出了進(jìn)一步的強(qiáng)化，擴(kuò)展了股東行使知情權(quán)的法定權(quán)限，為股東提供了更加堅實(shí)的權(quán)利保障，同時也推動公司治理的規(guī)范化。以下是關(guān)于新《公司法》中股東知情權(quán)規(guī)定的一些詳細(xì)解讀，供企業(yè)家參考。

　　In the corporate governance structure, major shareholders usually play a decisive role in the company's decisions, while small shareholders with lower shareholding ratios are less likely to have a significant impact on the company's business strategy. More importantly, minority shareholders often find themselves at a disadvantage in accessing company information, and their shareholder's right to know cannot be fully protected. In response to this issue, the new Company Law has further strengthened the shareholders' right to know, expanded their legal authority to exercise the right to know, provided more solid rights protection for shareholders, and also promoted the standardization of corporate governance. The following are some detailed interpretations of the provisions on shareholders' right to know in the new Company Law for entrepreneurs' reference.

　　一、法規(guī)修改對比現(xiàn)行《公司法》及其司法解釋與新《公司法》就股東知情權(quán)的相關(guān)規(guī)定對比如下表：

　　1、 The comparison of regulatory amendments between the current Company Law and its judicial interpretations and the relevant provisions of the new Company Law on shareholders' right to know is shown in the following table:

　　二、股東知情權(quán)行使主體（一）直接持股及部分間接持股股東（僅限于全資子公司）1. 查閱、復(fù)制公司章程、股東名冊、股東會會議記錄、董事會會議決議、監(jiān)事會會議決議和財務(wù)會計報告根據(jù)新《公司法》規(guī)定，公司股東不論持股比例大小，均有權(quán)查閱、復(fù)制公司章程、股東名冊、股東會會議記錄、董事會會議決議、監(jiān)事會會議決議和財務(wù)會計報告，且未規(guī)定公司可以拒絕股東查閱、復(fù)制前述資料的情形。

　　2、 Subject of exercise of shareholder's right to know (1) Direct shareholding and partial indirect shareholding shareholders (limited to wholly-owned subsidiaries) 1 According to the new Company Law, shareholders have the right to access and copy the company's articles of association, shareholder register, minutes of shareholder meetings, resolutions of the board of directors, resolutions of the board of supervisors, and financial accounting reports, regardless of their shareholding ratio. There is no provision for the company to refuse shareholders from accessing or copying the aforementioned materials.

　　2. 查閱公司會計賬簿、會計憑證根據(jù)新《公司法》規(guī)定，有限責(zé)任公司股東不論持股比例大小，均有權(quán)查閱公司會計賬簿、會計憑證，而股份有限公司除公司章程有更低規(guī)定外，僅連續(xù)180日以上單獨(dú)或者合計持有公司3%以上股份的股東有權(quán)要求查閱公司的會計賬簿、會計憑證。這一規(guī)定考慮到股份有限公司股東人數(shù)眾多、股份分散的實(shí)際情況，確保股東知情權(quán)得以實(shí)施的同時，避免股東濫用這一權(quán)利。此外，新《公司法》允許股份有限公司在公司章程中設(shè)定更低持股比例標(biāo)準(zhǔn)，為股份有限公司的小股東爭取較法規(guī)更高水平的知情權(quán)留下空間。至于上市公司股東知情權(quán)的具體實(shí)施，則交由《證券法》和其他相關(guān)法律法規(guī)進(jìn)一步明確。

　　According to the new Company Law, shareholders of a limited liability company, regardless of their shareholding ratio, have the right to access the company's accounting books and vouchers. However, for a joint stock limited company, unless otherwise specified in the company's articles of association, shareholders who hold more than 3% of the company's shares individually or collectively for more than 180 consecutive days have the right to request access to the company's accounting books and vouchers. This regulation takes into account the actual situation of a limited liability company with a large number of shareholders and dispersed shares, ensuring the implementation of shareholders' right to know while avoiding their abuse of this right. In addition, the new Company Law allows limited liability companies to set lower shareholding standards in their articles of association, leaving room for minority shareholders of limited liability companies to strive for a higher level of information rights than regulations. As for the specific implementation of shareholders' right to know in listed companies, it will be further clarified by the Securities Law and other relevant laws and regulations.

　　3. 實(shí)質(zhì)性剝奪股東知情權(quán)的約定無效現(xiàn)行《公司法》司法解釋四第9條規(guī)定，公司以其章程、股東之間的協(xié)議等實(shí)質(zhì)性剝奪股東依據(jù)公司法規(guī)定查閱或者復(fù)制公司文件材料的權(quán)利為由拒絕股東查閱或者復(fù)制的，人民法院不予支持。這意味著，公司章程和股東協(xié)議就股東知情權(quán)行使設(shè)定的持股比例要求，或者對某些特定情形下股東知情權(quán)行使的限制等實(shí)質(zhì)性剝奪股東知情權(quán)的約定無效，以確保股東權(quán)利不受公司章程或股東協(xié)議不合理限制。該等規(guī)定未在新《公司法》文本中體現(xiàn)，期待未來通過司法解釋或配套法規(guī)進(jìn)一步落實(shí)和完善。

　　3. The provision that substantially deprives shareholders of their right to know is invalid. According to Article 9 of the current Judicial Interpretation of the Company Law, if a company refuses to allow shareholders to access or copy company documents and materials based on its articles of association, agreements between shareholders, or other substantial grounds that deprive shareholders of the right to access or copy company documents and materials in accordance with the provisions of the Company Law, the people's court shall not support it. This means that provisions in the company's articles of association and shareholder agreements that substantially deprive shareholders of their right to know, such as the shareholding ratio requirements set for the exercise of shareholders' right to know, or restrictions on the exercise of shareholders' right to know in certain specific circumstances, are invalid to ensure that shareholders' rights are not unreasonably restricted by the company's articles of association or shareholder agreements. These regulations are not reflected in the new Company Law text, and we look forward to further implementation and improvement through judicial interpretations or supporting regulations in the future.

　　4. 查閱全資子公司相關(guān)資料新《公司法》允許股東延伸其知情權(quán)的行使范圍，當(dāng)股東投資的公司對外投資設(shè)立全資子公司時，股東有權(quán)行使查閱該等全資子公司的相關(guān)資料的權(quán)利。上述規(guī)則一定程度上增強(qiáng)了小股東在公司治理中的話語權(quán)，防止大股東通過設(shè)立全資子公司的形式規(guī)避小股東的監(jiān)督，促進(jìn)公司的透明度和規(guī)范治理，為股東提供了更加全面和有效的信息獲取途徑。

　　4. The new Company Law allows shareholders to extend the scope of their right to be informed. When a company invested by a shareholder establishes a wholly-owned subsidiary, the shareholder has the right to exercise the right to access relevant information of such wholly-owned subsidiary. The above rules to some extent enhance the discourse power of minority shareholders in corporate governance, prevent major shareholders from evading the supervision of minority shareholders through the establishment of wholly-owned subsidiaries, promote transparency and standardized governance of the company, and provide shareholders with a more comprehensive and effective way to obtain information.

　　（二）股東有權(quán)委托會計師事務(wù)所、律師事務(wù)所等中介機(jī)構(gòu)行使權(quán)利新《公司法》允許股東查閱公司會計賬簿、會計憑證時可以委托會計師事務(wù)所、律師事務(wù)所等中介機(jī)構(gòu)進(jìn)行，刪去現(xiàn)行《公司法》司法解釋四規(guī)定的股東必須取得人民法院生效判決且該股東應(yīng)在場的前提條件。這一變化意味著股東行使知情權(quán)時無需經(jīng)歷繁瑣的司法程序，可以更加直接和便捷地利用專業(yè)機(jī)構(gòu)的幫助，降低了股東的時間和經(jīng)濟(jì)成本。即使股東自身專業(yè)能力有限，也能夠通過專業(yè)機(jī)構(gòu)的幫助，有效識別公司存在的或潛在的財務(wù)或法律問題，為股東提供了更加實(shí)用和便捷的法律支持。

　　（2） Shareholders have the right to entrust intermediary agencies such as accounting firms and law firms to exercise their rights. The new Company Law allows shareholders to entrust intermediary agencies such as accounting firms and law firms to access the company's accounting books and vouchers, and removes the prerequisite that shareholders must obtain an effective judgment from the people's court and be present as stipulated in the fourth interpretation of the Company Law. This change means that shareholders can exercise their right to know without going through cumbersome judicial procedures, and can more directly and conveniently utilize the help of professional institutions, reducing shareholders' time and economic costs. Even if shareholders have limited professional abilities, they can effectively identify existing or potential financial or legal issues of the company with the help of professional institutions, providing shareholders with more practical and convenient legal support.

　　三、股東知情權(quán)行使范圍（一）股份有限公司新增股東有權(quán)復(fù)制、查閱公司相關(guān)資料新《公司法》將股東有權(quán)查閱和復(fù)制公司章程、股東名冊、股東會會議記錄、董事會和監(jiān)事會會議決議、財務(wù)會計報告，以及有權(quán)查閱公司會計賬簿、會計憑證的規(guī)定，從僅適用于有限責(zé)任公司修改為同樣適用于股份有限公司，使得無論股東所在的公司類型如何，在滿足股東資格的前提下，均有權(quán)查閱（或復(fù)制）公司關(guān)鍵文件，以進(jìn)一步保護(hù)股東權(quán)益。

　　3、 Scope of Exercise of Shareholders' Right to Know (1): New shareholders of a limited liability company have the right to copy and access relevant company information. The new Company Law stipulates that shareholders have the right to view and copy the company's articles of association, shareholder register, minutes of shareholder meetings, resolutions of the board of directors and supervisory board meetings, financial accounting reports, as well as the right to view the company's accounting books and vouchers. This modification applies only to limited liability companies to also apply to limited liability companies, so that regardless of the type of company in which shareholders are located, they have the right to view (or copy) key company documents under the premise of meeting shareholder qualifications, in order to further protect shareholder rights and interests.

　　（二）新增股東可以查閱會計憑證在司法實(shí)踐中，不同法院對于現(xiàn)行《公司法》規(guī)定的會計賬簿是否包含會計憑證的口徑不一，新《公司法》對這一分歧進(jìn)行回應(yīng)，即明確股東有權(quán)查閱會計憑證，同時延續(xù)現(xiàn)行規(guī)定，明確若公司有合理根據(jù)認(rèn)為股東查閱會計賬簿、會計憑證有不正當(dāng)目的且可能損害公司合法利益的，公司可以拒絕提供查閱。我們認(rèn)為，現(xiàn)行《公司法》規(guī)定股東可以要求查閱公司會計賬簿，但并未規(guī)定股東可以查閱原始憑證和記賬憑證，旨在保障股東查閱權(quán)的同時，防止和避免小股東濫用知情權(quán)干擾公司的正常經(jīng)營活動（摘自人民法院案例庫參考案例：（2020）最高法民再170號“美國阿某斯公司訴河北阿某斯公司股東知情權(quán)糾紛案”）；在現(xiàn)行《公司法》及新《公司法》均已對小股東濫用知情權(quán)干擾公司正常經(jīng)營活動時公司有權(quán)拒絕股東行使知情權(quán)進(jìn)行例外規(guī)定的前提下，不應(yīng)在股東合理行使其權(quán)利時再次進(jìn)行限制，否則將與設(shè)置股東知情權(quán)制度的目的背道而馳。新《公司法》的這一規(guī)定，為股東知情權(quán)的有效行使提供法律依據(jù)，由于會計憑證作為會計賬簿的產(chǎn)生依據(jù)，股東應(yīng)當(dāng)有權(quán)查閱。

　　（2） New shareholders can access accounting vouchers. In judicial practice, different courts have different criteria for whether accounting books under the current Company Law contain accounting vouchers. The new Company Law responds to this disagreement by clarifying that shareholders have the right to access accounting vouchers, while continuing the current regulations, and clarifying that if the company has reasonable grounds to believe that shareholders' access to accounting books and vouchers has improper purposes and may harm the company's legitimate interests, the company can refuse to provide access. We believe that the current Company Law stipulates that shareholders can request access to the company's accounting books, but does not provide for shareholders to access original vouchers and accounting vouchers. This is aimed at protecting shareholders' access rights while preventing and avoiding minority shareholders from abusing their right to know and interfering with the company's normal business activities (from the reference case of the People's Court Case Library: (2020) Supreme People's Court Case No. 170 "Shareholder Right to Know Dispute between American Amos Company and Hebei Amos Company"); On the premise that both the current Company Law and the new Company Law have made exceptions to the right of shareholders to refuse to exercise their right to know when minority shareholders abuse their right to know and interfere with the normal business activities of the company, restrictions should not be imposed again when shareholders reasonably exercise their rights, otherwise it will go against the purpose of establishing the shareholder right to know system. This provision of the new Company Law provides a legal basis for the effective exercise of shareholders' right to know. As accounting vouchers serve as the basis for accounting books, shareholders should have the right to access them.

　　需要注意的是，現(xiàn)行《公司法》司法解釋四對有限責(zé)任公司股東有不正當(dāng)目的的情形進(jìn)行列舉，而新《公司法》增加關(guān)于會計憑證的規(guī)定，是否也會相應(yīng)增加認(rèn)定股東具有不正當(dāng)目的的情形，以及該等情形是否同等適用于股份有限公司，有待司法解釋或配套法規(guī)對此進(jìn)一步明確。

　　It should be noted that the current judicial interpretation of the Company Law provides a list of situations where shareholders of limited liability companies have improper purposes. However, the addition of provisions on accounting vouchers in the new Company Law will correspondingly increase the recognition of shareholders having improper purposes, and whether such situations are equally applicable to joint stock limited companies remains to be further clarified by judicial interpretations or supporting regulations.

　　總結(jié)股東的知情權(quán)是股東依法參與公司治理、維護(hù)自身合法權(quán)益的基礎(chǔ)性權(quán)利，若股東行使知情權(quán)后發(fā)現(xiàn)公司其他股東或者董監(jiān)高侵害公司合法利益的，有權(quán)要求其他股東或者董監(jiān)高承擔(dān)賠償責(zé)任（董監(jiān)高責(zé)任詳見前文：新《公司法》實(shí)施后，董監(jiān)高應(yīng)該如何履職？）；若股東發(fā)現(xiàn)公司監(jiān)事會或者董事會怠于履行職責(zé)的，股東有權(quán)提起代位訴訟。

　　The right to know of shareholders is a fundamental right for shareholders to participate in corporate governance and safeguard their legitimate rights and interests in accordance with the law. If shareholders exercise their right to know and discover that other shareholders or directors and supervisors of the company have infringed upon the legitimate interests of the company, they have the right to demand that other shareholders or directors and supervisors bear the responsibility for compensation. (For details on the responsibilities of directors and supervisors, please refer to the previous section: How should directors and supervisors perform their duties after the implementation of the new Company Law?); If shareholders discover that the company's supervisory board or board of directors is negligent in fulfilling their duties, they have the right to file a subrogation lawsuit.

　　綜上，通過保障股東知情權(quán)的行使，有利于提高公司治理水平，增強(qiáng)公司運(yùn)營的透明度，有利于及時發(fā)現(xiàn)和糾正公司在經(jīng)營過程中可能出現(xiàn)的問題，使公司在大股東和小股東的共同監(jiān)督下依法、合規(guī)、穩(wěn)健地發(fā)展。

　　In summary, by safeguarding the exercise of shareholders' right to know, it is conducive to improving the level of corporate governance, enhancing the transparency of company operations, timely discovering and correcting possible problems in the company's business process, and enabling the company to develop legally, compliantly, and steadily under the joint supervision of major and minor shareholders.

　　本文由 山東股權(quán)激勵  友情奉獻(xiàn).更多有關(guān)的知識請點(diǎn)擊  http://www.aibangwang.cn/   真誠的態(tài)度.為您提供為全面的服務(wù).更多有關(guān)的知識我們將會陸續(xù)向大家奉獻(xiàn).敬請期待.

　　This article is about Shandong Equity Incentive Friendship Dedication For more related knowledge, please click http://www.aibangwang.cn/ Sincere attitude To provide you with comprehensive services We will gradually contribute more relevant knowledge to everyone Coming soon.