Not necessarily. If a listed company withdraws from the market, its reputation will be seriously affected, its market value will be greatly reduced, its financing function will be reduced, and there will be problems in stock pledge, which will bring great pressure on its liabilities, but it will not necessarily go bankrupt. Only when the enterprise reaches the bankruptcy limit and conforms to the provisions of the civil procedure law will the people's court make a ruling according to law and the enterprise will be declared bankrupt. Bankruptcy refers to the disappearance of a company after liquidation. According to the liquidation principle, the common shareholders are the final liquidators, the bankrupt company is insolvent, the common shareholders are basically not compensated, and the shares are gone. Delisting means that a company that has suffered losses for three consecutive years has been suspended from listing, the company has not gone bankrupt, and its shares are still there. After delisting, investors can still trade on the third board. Many companies can turn losses into profits and re-list after delisting, or their production and operation have changed.
Legal basis:
Article 8 of the Enterprise Bankruptcy Law of the People's Republic of China shall submit the bankruptcy application and relevant evidence to the people's court.
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.
Derivative problem:
What should investors do after stock delisting? After the stock is delisted, the shareholders are treated as follows:
1. Re-listing after reorganization: If the listed company voluntarily withdraws from the market, shareholders can call the customer service phone of the listed company in time to ask whether it can be reorganized and listed. If there is such a possibility, you can continue to hold shares and may appreciate in the future;
2. Listing on the New Third Board: If a listed company cannot be listed on the main board, it can be listed on the New Third Board. If stocks land in the third board market, shareholders can trade in the third board market;
3. Liquidation according to shareholding ratio: If a listed company is declared bankrupt after delisting, the stock exchange will liquidate the shares of the company and the shares held by shareholders.