Legal basis: People's Republic of China (PRC) Company Law.
Article 120 A listed company as mentioned in this Law refers to a joint stock limited company whose shares are listed and traded on a stock exchange.
Article 172 The merger of companies may take the form of absorption merger or new merger. A company absorbs other companies for merger, and the absorbed company is dissolved. The merger of two or more companies to form a new company is a new merger, and the parties to the merger are dissolved.