Legal analysis: legal persons can be changed. When the change of legal person involves the transfer of equity, it must be agreed by the pledgor and the pledgee before the legal person can be changed. When a legal person changes the equity that does not involve pledge, it may change the legal person without the consent of the pledgee.

Legal basis: Article 443rd of the Civil Law of People's Republic of China (PRC) pledges the fund share or equity, and the pledge right is established upon the completion of the pledge registration. After the pledge, the fund share and equity shall not be transferred, except that the pledgor and the pledgee agree through consultation. The pledgor shall pay off the debts in advance to the pledgee or deposit the proceeds from the fund share and equity transfer.