After five years of revisions, the new PRC Company Law will take effect on July 1, 2024. The new law has made quite extensive amendments in such areas as company establishment and capital contributions, shareholder rights, duties of directors, supervisors and senior management, corporate governance, and liquidation and deregistration, among others. It is widely expected that the new law will greatly impact the entire lifecycle of all types of companies.

On February 28, 2024, at the invitation of the Shanghai Caohejing Hi-Tech Park Innovation Center (the "Innovation Center"), Han Yi partner Lynn Zhang delivered the first lecture on the new Company Law for the Year of the Dragon to representatives from about twenty high-tech startups and enterprises incubated by the Innovation Center. Based on her extensive experience in corporate affairs in the hard technology sector and her understanding of the legislative intent and relevant provisions of the new Company Law, Ms. Zhang offered an insightful illustration of the new Company Law's key effects on high-tech enterprises as well as their founders and also shared some specific advice on how to adapt to the major revisions under the new law.

Ms. Zhang’s lecture provided useful guidance for attendee enterprises to gain a better understanding of the legislative intent and impact of the new Company Law, addressed some common issues and confusions in understanding and application of the new law, and was very well received by both the lecture participants and the Innovation Center.