Towards the end of the year, the “shell war” in the A-share market has begun again. A number of *ST companies on the brink of delisting are taking intensive action to resolve the forced delisting crisis. From debt forgiveness to free cash grants, from asset divestments to mergers, acquisitions and restructuring, many companies have taken a variety of “self-help” measures. Meanwhile, the “zero tolerance” attitude of the supervisory authorities made this game full of variables.

Towards the end of the year, the “shell war” in the A-share market has begun again. A number of *ST companies on the brink of delisting are taking intensive action to resolve the forced delisting crisis. From debt forgiveness to free cash grants, from asset divestments to mergers, acquisitions and restructuring, many companies have taken a variety of “self-help” measures. Meanwhile, the “zero tolerance” attitude of the supervisory authorities made this game full of variables.