Legal analysis: the creditor's rights and debts of equity transfer must be announced. In the process of equity transfer, the transferor has the obligation to truthfully and fully disclose the company's debts. Although corporate debt and equity transfer do not restrict each other, in the process of corporate equity transfer, the transferor should distinguish the different situations of corporate debt and handle it legally and reasonably based on the principle of good faith. The transferor has the obligation to inform, and should fully and truthfully disclose the relevant information of the debt of the target company, so that the transferee can fully predict the risk, make the choice whether to accept it or not and make a reasonable value judgment. If the transferor intentionally conceals the truth and fails to disclose the existing liabilities or potential liabilities to the transferee in a true and comprehensive way, it is a violation of the obligation of information disclosure and the obligation of the transferor to represent and guarantee the company's debts, and it needs to bear corresponding liabilities for breach of contract according to law.

Legal basis: Article 545 of the Civil Law of People's Republic of China (PRC), a creditor may assign all or part of his creditor's rights to a third party, except in one of the following circumstances: (1) According to the nature of the creditor's rights, it may not be assigned; (two) according to the agreement of the parties shall not be transferred; (3) It shall not be transferred according to law. If the parties agree that the non-monetary creditor's rights cannot be transferred, they may not confront a bona fide third party. If the parties agree that the creditor's rights are not transferable, they may not oppose a third party.