Will listed companies with state-owned background withdraw from the market?

It is possible to withdraw from the market. According to the requirements of the new delisting rules, as long as the corresponding conditions are met, the listed companies controlled by SASAC will be delisted. In 2020, the regulatory authorities formulated a new delisting system, including: mandatory delisting, transaction delisting, financial delisting, standardized delisting, and major illegal delisting. As long as one of them is violated, there is the possibility of delisting. For example, the mandatory delisting conditions of the Shanghai and Shenzhen main boards.

Trading delisting: Only listed companies that issue A shares in this Exchange have achieved a cumulative trading volume of less than 5 million shares through the trading system of this Exchange for 65,438+020 consecutive trading days, or the daily closing price of shares for 20 consecutive trading days is less than 65,438+0 yuan RMB.

Financial delisting: the audited net profit in one fiscal year is negative and the operating income is lower than RMB 1 billion yuan, or the net profit in the latest fiscal year after retrospective restatement is negative and the operating income is lower than RMB 1 billion yuan.

Mandatory delisting in normative category: due to major accounting errors or false records in the financial accounting report, the China Securities Regulatory Commission ordered it to make corrections but failed to make corrections within the prescribed time limit. The company's shares and their derivatives have been suspended from the next trading day after the expiration of the above-mentioned period, and the company has not corrected them within 2 months after the suspension of the shares and their derivatives.

Major illegal delisting: listed companies have fraudulent issuance, major information disclosure violations or other major illegal acts that seriously damage the order of the securities market and seriously affect their listing status, and their shares should be terminated from listing.