Voluntary delisting means that the company voluntarily applies to the regulatory authorities for cancellation of the license according to the resolutions of the shareholders' meeting and the board of directors. Generally, there are the following reasons: when the operating period expires, the shareholders' meeting decides not to renew it; The shareholders' meeting decides to dissolve; Dissolution due to merger or division; Bankruptcy; Adjust the structure and layout according to market demand.
Passive delisting means that futures institutions are forced to revoke their licenses by the regulatory authorities, which generally leads to major risks due to major violations of laws and regulations or poor management.
Extended data:
Regulations:
Article 157 of the Company Law: If a listed company is in any of the following circumstances, the the State Council securities administration department shall decide to suspend its listing:
(1) The company's total share capital and equity distribution have changed and no longer meet the listing conditions;
(2) The company fails to disclose its financial status as required, or makes false records in its financial and accounting reports;
(3) The company has committed major illegal acts;
(4) The company has suffered continuous losses in the last three years.
Article 158: If one of the circumstances listed in Items (2) and (3) of the preceding article is found, which causes serious consequences, or one of the circumstances listed in Items (6) and (4) of the preceding article cannot be eliminated within a time limit and does not meet the listing conditions, the the State Council securities management department shall decide to terminate its listing.
If the company is dissolved according to law, ordered to close by the administrative department or declared bankrupt, the the State Council securities administration department will decide to terminate its stock listing.
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