Delisting refers to the situation that a listed company actively or passively terminates its listing because it cannot meet other listing standards of the exchange, that is, a listed company becomes a non-listed company. Delisting can be divided into active delisting and passive delisting, and there are complicated delisting procedures.
The delisting standard of A-share companies due to performance factors is to suspend listing for three consecutive years (temporarily keep the code and qualification). If they continue to lose money in the next six months, they will face delisting. Another situation of delisting occurs when the company is privatized. After the major shareholders or strategic investors buy back all the outstanding shares, they can announce that the company will be changed from a public listed company to a private company.