“If a company has a dual‑class share structure in which the founder gets four votes for every one of other shareowners… the founder can still control all decisions at the company… while only taking 20% of the economic risk.” CFA Institute 博客
“In this kind of shareholding structure, two types of voting rights, high and low, are usually set up, so that control is firmly in the hands of the founders.” Taylor & Francis Online
“Non‑voting stock… provides the shareholder very little or no vote on corporate matters… The investors still get dividends and can participate in capital gains…” 维基百科
“Alibaba’s partnership structure has the same effect as a dual‑class stock structure, which gives some shareholders more voting rights than others.” China Business Knowledge -
“The company is controlled by 28 ‘partners’, including insiders and Ma himself…his dictatorship blocks the possibility of any contested election.” 维基百科
“The Current Shareholder hereby irrevocably… entrust the persons designated… to exercise the voting rights it has… including… the appointment and election of directors…” 美国证券交易委员会
“The Existing Shareholders intend to entrust the individual designated by the WFOE… with the exercise of their voting rights… and the WFOE is willing to designate such individual to accept such entrustment.” 美国证券交易委员会