It is legal for shareholders to withdraw their shares through capital reduction. Capital reduction and withdrawal must be approved by the shareholders' meeting of the company, and the shareholders and the transferee shall sign an equity transfer agreement, and go through the formalities of industrial and commercial registration of equity change and change of the register of shareholders.
Legal objectivity:
Article 177 of the Company Law When a company needs to reduce its registered capital, it must prepare a balance sheet and a list of assets. The company shall notify the creditors within ten days from the date of making the resolution to reduce the registered capital, and make an announcement in the newspaper within thirty days. Creditors have the right to require the company to pay off debts or provide corresponding guarantees within 30 days from the date of receiving the notice, or within 45 days from the date of announcement if they have not received the notice.