Under what circumstances should the company be liquidated?

Liquidation shall be carried out after the company makes a resolution of dissolution or internal cancellation. If the shareholders' meeting or shareholders' meeting resolves to dissolve and the business term stipulated in the articles of association expires, a liquidation group shall be established within the statutory time limit. According to the relevant laws and regulations, the liquidation group shall notify the creditors of the announcement. If there is no liquidation according to law, the liquidation obligor shall bear the responsibility.

legal ground

Article 180 of the Company Law of People's Republic of China (PRC)

The Company is dissolved for the following reasons:

(1) 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 shareholders' meeting decides to dissolve;

(3) The company needs to be dissolved due to merger or division;

(4) Its business license is revoked, it is ordered to close down or it is revoked according to law.

Article 18 1

A company may survive by amending its articles of association under the circumstances specified in Item (1) of Article 180 of this Law.

To amend the Articles of Association in accordance with the provisions of the preceding paragraph, a limited liability company must be approved by shareholders holding more than two thirds of the voting rights, and a joint stock limited company must be approved by shareholders attending the shareholders' meeting.

Article 182

Serious difficulties have occurred in the company's operation and management, and its continued existence will cause great losses to the interests of shareholders. If it cannot be solved by other means, shareholders who hold more than 10% of the voting rights of all shareholders of the company may request the people's court to dissolve the company.