In 2025, the “zero tolerance” regulatory situation in China's capital market continued to escalate. Regulatory authorities such as the China Securities Regulatory Commission severely cracked down on and severely punished a number of listed companies that had committed systematic financial fraud for many years, forming a normalized delisting pattern where they should retreat and be cleared in a timely manner. According to the reporter's statistics, since this year, 12 listed companies have come into contact with major illegal forced delisting situations, terminating or entering delisting procedures one after another. After some companies triggered major illegal forced delisting, stock prices fell all the way down and eventually took the lead in withdrawing from the market due to forced delisting situations such as face value delisting. In addition, more than 40 listed companies have been subject to other risk warnings after receiving the “Advance Notice of Administrative Penalties” from the Securities Regulatory Commission due to matters such as financial fraud and information disclosure violations.

In 2025, the “zero tolerance” regulatory situation in China's capital market continued to escalate. Regulatory authorities such as the China Securities Regulatory Commission severely cracked down on and severely punished a number of listed companies that had committed systematic financial fraud for many years, forming a normalized delisting pattern where they should retreat and be cleared in a timely manner. According to the reporter's statistics, since this year, 12 listed companies have come into contact with major illegal forced delisting situations, terminating or entering delisting procedures one after another. After some companies triggered major illegal forced delisting, stock prices fell all the way down and eventually took the lead in withdrawing from the market due to forced delisting situations such as face value delisting. In addition, more than 40 listed companies have been subject to other risk warnings after receiving the “Advance Notice of Administrative Penalties” from the Securities Regulatory Commission due to matters such as financial fraud and information disclosure violations.