Study On Getting Rid Of Warnings Of Delisting Of *ST Xiali Company

China’s current non-recurring profit and loss overview and disclosure system are not perfect.The Shanghai and Shenzhen Stock Exchange listing rules and delisting system revised in 2018 have greatly relaxed the requirements for *ST companies to get rid of delisting warning conditions.As long as the net profit is positive,the delisting warning can be completed,that is,no non-recurring profit and loss index is required.If there is a situation in which *ST company has failed to delist from the delisting warning and is required to suspend listing,then its Resumption of listing must meet many requirements,such as the audited net profit and deducted non-net profit in the recent fiscal year are positive.Due to different regulations,and non-recurring gains and losses are easy to operate,non-recurring gains and losses are the first choice for *ST company earnings management.*ST companies operate non-recurring gains and losses for earnings management,which will not only cause investors to have an inaccurate understanding of the statements and make inappropriate investment decisions,but also lead to the unhealthy development of the capital market in the long run.Based on the current research situation at home and abroad,this paper sorts out the background of China’s ST system,and interprets theories related to non-recurring profit and loss and earnings management.Next,we will take *ST Xiali Company as a case study object,introduce in detail the *ST Xiali Company and the industry background,and conduct a detailed analysis of the company’s methods and reasons for implementing non-recurring profit and loss to implement earnings management to get rid of the delisting warning.Finally,the corresponding countermeasures are proposed.The paper consists of five parts:the introduction is the content of the first chapter;the institutional background,concept definition and theoretical analysis are the contents of the second chapter;the third part is an analysis of the situation of ST companies in Shanghai and Shenzhen "getting out of the delisting warning";the fourth part is the case analysis of *ST Xiali getting rid of warnings of delisting;the fifth part is the research conclusions and recommendations.According to the analysis of this article,if we want to ensure that ST companies get rid of the standardization of delisting warnings,we need to improve the relevant standards and systems,such as improving the definition and disclosure of non-recurring profit and loss concepts,strengthening the identification and regulation of the nature of government subsidies,and Scientifically plan the delisting system of ST companies;on the other hand,an innovation-driven development strategy needs to be implemented.Only by having both,can we deal with the problem that ST companies repeatedly operate non-recurring profit and loss,implement earnings management,and then remove the cap,and make China’s capital market develop more and more healthily.