There are two main situations when the company terminates:
1. The company went bankrupt. According to the company law, the failure to pay off the due debts is the cause (or bankruptcy boundary) of the company's bankruptcy. The "can't" here means continuous "can't".
2. The company was dissolved. The Company Law stipulates that a company may be dissolved under any of the following circumstances:
(1) When the business term stipulated in the Articles of Association expires or other reasons for dissolution stipulated in the Articles of Association occur;
(2) The shareholders' meeting or the shareholders' meeting decides to dissolve;
(3) The company needs to be dissolved due to merger or division;
(4) The company has its business license revoked, ordered to close down or revoked in violation of laws and administrative regulations.
(5) The people's court is dissolved according to law.