In 2025, more than ten listed companies were forced to delist due to significant illegal activities.

In 2025, China's capital market continues to upgrade its "zero tolerance" regulatory stance, cracking down severely on a group of listed companies that have engaged in systematic financial fraud for multiple years. Regulatory authorities such as the China Securities Regulatory Commission have imposed strict penalties, forming a normalized delisting pattern of "exit all when necessary, exit in a timely manner." According to journalists' statistics, 12 listed companies have been forced to delist due to major violations since the beginning of this year, with some companies either delisted or entering the delisting process. After triggering major violations leading to forced delisting, the stock prices of some companies have continued to decline and eventually exited the market through trading-related forced delisting, such as delisting at face value. In addition, more than 40 listed companies have received warning letters from the regulatory commission for financial fraud, improper information disclosure, and other violations.