After the company's business is cancelled, the company will not automatically cancel, but will always display the cancellation status. Generally, after 3-5 years of cancellation, the company will be listed as a serious untrustworthy and illegal enterprise. If the company is listed as a serious breach of trust and illegal enterprise, the legal person and shareholders of the company will be blacklisted, which will cause inconvenience to the lives of legal persons and shareholders.

Legal basis:

Article 184 of the Company Law of People's Republic of China (PRC) During the liquidation period, the liquidation group shall exercise the following functions and powers: (1) Clean up the assets of the company and prepare a balance sheet and a list of assets respectively; (2) Notify and announce creditors. (3) Handling the unfinished business of the company related to liquidation; (four) to pay the taxes owed and the taxes generated in the liquidation process; (5) Clearing up creditor's rights and debts; (6) Disposing of the company's remaining property after paying off debts; (seven) to participate in civil litigation activities on behalf of the company.

Legal analysis:

After the company's business is cancelled, the company will not automatically cancel, but will always display the cancellation status. Generally, after 3-5 years of cancellation, the company will be listed as a serious untrustworthy and illegal enterprise. If the company is listed as a serious breach of trust and illegal enterprise, the legal person and shareholders of the company will be blacklisted, which will cause inconvenience to the lives of legal persons and shareholders.

Legal basis:

Article 184 of the Company Law of People's Republic of China (PRC) During the liquidation period, the liquidation group shall exercise the following functions and powers: (1) Clean up the assets of the company and prepare a balance sheet and a list of assets respectively; (2) Notify and announce creditors. (3) Handling the unfinished business of the company related to liquidation; (four) to pay the taxes owed and the taxes generated in the liquidation process; (5) Clearing up creditor's rights and debts; (6) Disposing of the company's remaining property after paying off debts; (seven) to participate in civil litigation activities on behalf of the company.