The cancellation of a company refers to the process that a company needs to apply to the registration authority for cancellation to terminate its legal personality when it declares bankruptcy, is acquired by other companies, the prescribed business term expires or the company is dissolved internally. According to the Company Law of People's Republic of China (PRC), after the liquidation of the company, the liquidation group shall prepare a liquidation report, submit it to the shareholders' meeting, the shareholders' meeting or the people's court for confirmation, and submit it to the company registration authority to apply for cancellation of company registration and record, and announce the termination of the company. The cancellation of the company requires the following procedures:

1. Set up a liquidation group, clean up the company's assets, and prepare a balance sheet and a list of assets;

2. Notify creditors to declare their claims;

3. Put forward liquidation plan and report it to the shareholders' meeting for discussion and approval or the people's court for confirmation;

4. Cancel the registration and Liang Yuan will make an announcement.

legal ground

Company Law of the People's Republic of China

Article 182 Where serious difficulties arise in applying to the court to dissolve the company's operation and management, and the continued existence will cause great losses to shareholders' interests, which cannot be solved by other means, shareholders holding more than 10% of all shareholders' voting rights of the company may apply to the people's court for dissolution of the company.

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