Board seats and shareholder rights that look identical to what you'd expect in any market, until you check who actually holds operational control.
A board seat, a protective provision, a majority stake, on paper, these look like control. In practice, day-to-day authority in a Chinese startup often sits with whoever holds the company chops, the WFOE registration, and the relationships that make things happen locally. The two don't always match.
Our structural rules test governance the way it actually operates: who can move money, who can change the business scope, who the local authorities actually deal with, not just what the shareholder agreement says should happen.
What the cap table shows vs. what to verify
| Board composition | Investor seats and observer rights | Who actually calls and controls board meetings |
| Voting rights | Formal voting percentages | Which decisions require local sign-off in practice |
| Company chops | Rarely disclosed at all | Who physically holds the chops that bind the company |
| WFOE structure | Assumed to mirror the cap table | Whether registered control matches investor expectations |
ZINVEO ne décide pas. ZINVEO expose l'asymétrie structurelle. La décision finale revient
au comité d'investissement.
Recherchez dans notre couverture, ou demandez un accès direct au moteur de risque structurel de ZINVEO.
