Securities Daily: Further opening up diversified delisting channels in the capital market

Since the beginning of this year, the diversified delisting channels in the capital market have become more open, with an increase in the number of companies voluntarily delisting and being forcefully delisted due to major violations. Following the principle of "those who should delist will delist", the capital market is gradually forming a market ecology of both entry and exit, survival of the fittest. According to Wind Information data, from 2020 to 2024, there were 1, 4, 1, 2, and 1 companies voluntarily delisting respectively; as of August 10th this year, 5 companies have announced voluntary delisting. The first method is by shareholders' resolution to voluntarily withdraw the listing of stocks on the exchange, including China Aviation Industry Capital Holding Co., Ltd., Shandong Xinsheng Mining Co., Ltd., and *ST Tianmao. Currently, China Aviation Capital Holding and Yulong Shares have delisted. The second method is through merger and acquisition delisting, with 2 companies currently in the process. Guotai Junan Securities has completed the merger with Haitong Securities, which has been delisted; China Shipbuilding Corporation has obtained approval from the China Securities Regulatory Commission for the merger with China Heavy Industries in July, and the process is still ongoing.