According to the definition, circulating shareholders refer to shareholders who hold shares of the company, not the top ten shareholders, that is, individuals or institutions other than the top ten shareholders registered in the share change report. The top ten shareholders refer to the top ten shareholders who hold shares in the company, and they play an important role in the management and control of the company.
First, the difference in the number and proportion of shares held.
Judging from the number and proportion of shares held, the proportion of shares held by circulating shareholders is relatively small and the number is relatively small. The proportion of shares held by the top ten shareholders is often about 30% ~ 60% of the company's total shares. This means that the top ten shareholders can have an important impact on the company's ownership structure and decision-making, and their decisions will also have a far-reaching impact on the company's operation and development.
Second, the difference between power and responsibility.
From the perspective of rights and responsibilities, shareholders of tradable shares cannot influence the company's major decisions, such as capital increase and share expansion, mergers and acquisitions, etc. Because these decisions need more than 50% equity support at the shareholders' meeting to pass. However, circulating shareholders have the right to vote and make suggestions, and can express their opinions through shareholders' proposals, thus affecting the company's decision-making process and prospects. The top ten shareholders assume more shareholder responsibilities and obligations, including the need to disclose relevant investment information and report to the company, including financial aspects.
Three. Information disclosure and transaction issues
For investors, the information disclosure and stock liquidity of tradable shareholders are more transparent and smooth than those of the top ten shareholders. Because the top ten shareholders are usually major shareholders, strategic investors or funds and other institutions, their transactions are relatively stable, and it is not easy to have short-term large-scale transactions. However, circulating shareholders' shares may be easier to trade in the market, providing investors with more investment opportunities.
Fourth, investment strategy and risk control.
For investors, it is different to choose different underlying stocks based on different investment objectives and strategies. For investors who aim at holding stocks for a long time to obtain stable income, the top ten shareholders are often more valuable stock trading objects. For speculative intermediaries who earn profits from price fluctuations through short-term operations, circulating shareholders' meetings are more attractive.
To sum up, the difference between tradable shareholders and the top ten shareholders is obvious. For investors, understanding the company's shareholding structure, the shareholding situation and rights and obligations of each shareholder can help us to understand the company's governance structure and development prospects more clearly and choose the most suitable stock investment strategy.