1, which affects the normal operation of listed companies and pushes some listed companies to the edge of delisting or bankruptcy.
2, affect the normal function and efficiency of the securities market.
3. The company's hollowing out endangers the security of the stock market and increases the systemic risk of the stock market. Excessive encroachment crisis by major shareholders can easily distort the normal resource allocation function and efficiency of the securities market. Some M&A cases are often lost because of the misappropriation of large shareholders and huge debts, which greatly reduces the efficiency of the securities market.
4. Listed companies have operational difficulties due to the withdrawal of funds.
5. Damage the interests of minority shareholders and creditors.
6. Increase the financial risks of listed companies.