Case Study On Delisting Of *ST Longli

Nowadays,more and more companies choose to raise funds through public offering of stocks to expand their production and operation scale.In order to improve the quality of listed companies,deepening the delisting reform and improving the delisting system have become major issues for the regulatory authorities.As the basic system of the capital market,the delisting system plays a key role in ensuring the efficient allocation of capital market resources and promoting the survival of the fittest in listed companies.At the end of 2020,the Shanghai Stock Exchange and the Shenzhen Stock Exchange respectively issued new delisting regulations,which are committed to improving the normalized exit mechanism.For listed companies,the continuously improved delisting system puts forward higher requirements for the company’s operating quality.How to shape core competitiveness and avoiding being eliminated by the market have become issues that all listed companies need to seriously consider.Under this background,this paper selects the typical *ST Longli as the research subject.First,it sorts out the research results,concepts and theories of delisting at home and abroad;secondly,it introduces the company’s industrial structure,organizational structure and development strategy,etc.,and sorted out its delisting process according to the punishment results announced by the China Securities Regulatory Commission and related announcements;on this basis,this article deeply analyzes the reasons for *ST Longli’s delisting,including internal and external reasons;Summarizes the enlightenment obtained by analyzing the case.Among them,listed companies should improve their governance structure,optimize the internal control environment,choose strategies reasonably and control financial risks.Audit institutions need to enhance their independence and enhance their ability to respond to risks.Regulatory authorities can continue to strengthen supervision and so on.I hope that the case study of *ST Longli’s delisting can enrich relevant research results and provide some reference for the healthy development and continuous operation of listed companies.