股权结构是指横向上股份公司总股本中不同性质的股份所占的比例及其相互关系。股权结构研究的是股东之间的结构模式和股权分配比例;同时，股权结构也研究股东的持股方式，即:是自然人持股还是控股平台持股?控股平台持股是合伙制企业持股还是有限公司持股?

Equity structure refers to the proportion of shares of different nature in the total share capital of a joint-stock company horizontally and their mutual relationship. The equity structure studies the structure mode and the proportion of equity distribution among shareholders; At the same time, the ownership structure also studies the shareholding mode of shareholders, that is, whether it is held by natural persons or holding platforms? Is holding platform holding a partnership or a limited company?

山东股权激励公司认为股权结构的作用和意义如下:

Shandong equity incentive company believes that the role and significance of equity structure are as follows:

(1)股权结构是公司治理结构的基础，决定了公司的治理结构、权力分配制约和平衡。

(1) The ownership structure is the foundation of the corporate governance structure, which determines the governance structure of the company, the restriction and balance of power distribution.

(2)股权结构明晰了股东之间的权责利，是股东(或合伙人)间共创价值、共享利益和共担风险的基础。

(2) The ownership structure clarifies the rights, responsibilities and interests of shareholders, and is the basis for shareholders (or partners) to jointly create value, share interests and share risks.

(3)股权结构影响公司的控制权，是公司稳顺经营的前提和基础。

(3) The ownership structure affects the control right of the company, which is the premise and foundation for the stable and smooth operation of the company.

(4)股权结构的合理性是外部投资人对目标公司判断的依据之-。如果投资人认为股权结构不合理、比较差,会影响对目标公司的投资。同样道理，如果公司要上市，证监会-定要求上市公司股权结构明晰、合理。

(4) The rationality of ownership structure is one of the bases for external investors to judge the target company. If the investor thinks that the equity structure is unreasonable and relatively poor, it will affect the investment in the target company. By the same token, if a company wants to be listed, the CSRC will certainly require that the equity structure of listed companies be clear and reasonable.

对于初次股权激励启动的时间，各方都有不同的说法。，要看股权激励目的。因为股权激励的目的决定了企业要在什么阶段启动股权激励。在这个问题上，没有统--的答案。其次，员工股权激励要分批进行:对于创业期的企业，一批分享股权的是共同创业的联合创始人，然后是核心高管。

There are different opinions on the time of the initial equity incentive. First of all, we should look at the purpose of equity incentive. Because the purpose of equity incentive determines the stage at which enterprises should start equity incentive. There is no unified answer to this question. Secondly, employee equity incentive should be carried out in batches: for enterprises in the entrepreneurial period, the first batch of CO founders who share the equity are the co founders, and then the core executives.

随着企业的发展，继续进行分批激励。对于成长期和成熟期的企业，一批激励范围可以扩大一些，但是也要分批激励，同时也可以多次激励。出于各种原因，核心人才的股权激励和外部投资者的激励顺序不能固定顺序进行，而应对其进行动态调整。外部投资也不是一轮完成，而是多轮完成:天使投资、A轮、B轮、C轮、上市股改，等等。

With the development of enterprises, we will continue to encourage them in batches. For enterprises in the growth and mature stages, the scope of a batch of incentives can be expanded, but it is also necessary to encourage them in batches, and at the same time, it can be encouraged many times. For various reasons, the order of equity incentive for core talents and incentive for external investors cannot be fixed, but should be adjusted dynamically. External investment is not completed in one round, but in multiple rounds: angel investment, round a, round B, round C, listed share reform, etc.

从创业到上市，再到上市后威持，大约分为六个阶段:创业阶段、股权激励、对外融资、股改阶段、上市阶段、减持阶段。具体的内容您可以来关注我们http://www.guquanzhanlue.com，一起了解。

From entrepreneurship to listing, and then to holding after listing, there are about six stages: Entrepreneurship stage, equity incentive, external financing, share reform stage, listing stage and shareholding reduction stage. You can follow us for details http://www.guquanzhanlue.com Yes, let's get to know each other.