Does the division of the company belong to enterprise restructuring?

Legal analysis: Company division belongs to enterprise reorganization. In China, corporate restructuring is generally to change the original state-owned and collective enterprises with single ownership into corporate enterprises with multiple investors and joint-stock cooperative enterprises or domestic and foreign-funded enterprises to transform each other.

Legal basis: Article 175 of the Company Law of People's Republic of China (PRC) is divided, and its property should be divided accordingly.

When the company is divided, it shall prepare a balance sheet and a list of assets. The company shall notify the creditors within 10 days from the date of making the resolution of separation, and make an announcement in the newspaper within 30 days.