Multiple share classes and voting rights

Different rights in the same share

"different rights of the same share" means that at least two types of shares will be issued within a company, ordinary shares, and privileged shares. The voting rights of the two are not the same, with up to 10 votes per share for privileged shares and only 1 vote per share for ordinary shares.

Contrary to "different rights on the same stock" is "the same right on the same stock", whether you are the chairman of the company or a minority shareholder, each share held in your hand has the same right to vote.

Hong Kong has been implementing the same right system in the past, but in 2014, Alibaba had planned to list in Hong Kong, but it was canceled because of the same right requirement in Hong Kong. Alibaba was eventually transferred to the United States for listing. To attract more innovative industrial companies to Hong Kong, the HKEx has allowed companies to list the same shares with different rights in Hong Kong since April 2018. Xiaomi Group (1810) became the first company to list in Hong Kong in the form of the same shares with different rights.