1, the company's delisting generally does not mean bankruptcy. 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. Exchanges generally have greater autonomy in delisting listed companies.
2. Legal basis: Article 8 of the Enterprise Bankruptcy Law of the People's Republic of China.
When filing a bankruptcy application with the people's court, the bankruptcy application and relevant evidence shall be submitted.
The bankruptcy application shall specify the following items:
(a) the basic information of the applicant and the respondent;
(2) the purpose of the application;
(three) the facts and reasons for the application;
(4) Other matters that the people's court deems necessary.
If the debtor applies, it shall also submit to the people's court a statement of property status, a list of debts, a list of creditor's rights, relevant financial and accounting reports, a plan for the placement of employees, the wages of employees and the payment of social insurance premiums.
2. What conditions do listed companies need to meet for delisting?
The delisting of listed companies generally needs to meet the following conditions:
1, the company's total share capital, equity distribution, etc. are changed and no longer meet the listing conditions, and still cannot meet the listing conditions within the time limit stipulated by the stock exchange;
2. The company fails to disclose the financial status in accordance with the regulations, or makes false records on the financial and accounting reports, and refuses to correct them;
3. The company has suffered losses continuously in the last three years, and failed to return to profit in the following year;
4. The company is dissolved or declared bankrupt;
5. Other circumstances stipulated in the listing rules of stock exchanges.