在主體公司之上，我們設置一個控股公司，而控股公司的上層是家族公司。主體公司下設子公司，而子公司負責管理各個項目和門店。

On top of the main company, we establish a holding company, and the upper level of the holding company is the family company. The main company has subsidiaries, which are responsible for managing various projects and stores.

主體公司，就是大家通常所說的母公司，母公司的上方必須設有控股公司。這個控股公司是股東們只控股但不參與運營的公司。它在主體公司和家族公司之間就起到了防火墻的作用，這就是大家所說的“防火墻公司”。上面的家族公司就是大家的錢袋子公司

The main company, commonly known as the parent company, must have a holding company above it. This holding company is a company in which shareholders only hold shares but do not participate in operations. It serves as a firewall between the main company and the family company, which is commonly referred to as the 'firewall company'. The family company above is everyone's money bag company

在母公司下面，我們還需要再設立子公司來進行項目孵化，這就是實際進行運營、融資和上市的實體，負責項目的孵化。而在子公司之下，大家再設門店和項目，它們的目的是為了分紅，比如門店經理、項目經理和管理層等。

Under the parent company, we also need to establish a subsidiary for project incubation, which is the entity responsible for actual operation, financing, and listing, and is responsible for project incubation. Under the subsidiary, everyone sets up stores and projects with the purpose of distributing dividends, such as store managers, project managers, and management.

這五層結構就是股權頂層設計的完美架構。

These five layers of structure are the perfect framework for the top-level design of equity.

大家可以發現，在每一層公司之間都存在防火墻作用，那母公司和子公司之間，為什么大家不要設分公司？而是要設子公司呢？因為子公司是獨立法人。

You can see that there is a firewall function between each layer of companies, so why not set up branch offices between parent and subsidiary companies? But should we establish a subsidiary? Because the subsidiary is an independent legal entity.

外面很多老師會一直強調防火墻公司的重要性，但其實他們只是講了個策略，一個概念。我們的真正目的是設計出這樣的五層公司架構。

Many teachers outside will always emphasize the importance of firewall companies, but in fact, they only talked about a strategy and a concept. Our real goal is to design such a five tiered company architecture.