Legal analysis: first, the board of directors proposed a merger plan; 2. The shareholders' meeting voted to pass the merger resolution; 3. Sign merger contracts with wholly-owned subsidiaries, and prepare balance sheets and property lists; Fourth, execute the creditor protection procedure; V. The Company goes through the formalities of alteration and the wholly-owned subsidiary goes through the formalities of cancellation.
Legal basis: According to the provisions of Article 172 of the Company Law of People's Republic of China (PRC), the merger of companies can take the form of absorption merger or new merger. A company absorbs other companies for merger, and the absorbed company is dissolved. The merger of two or more companies to form a new company is a new merger, and the parties to the merger are dissolved.