In 2026, there have been three cases of voluntary delisting of A-shares. From Debon Co., Ltd. becoming the first active delisting company in the year at the beginning of the year, to Waxu B being privatized and delisted due to a comprehensive takeover initiated by the controlling shareholder, to the end of August, the “first color TV share” *ST Konka A plans to voluntarily withdraw the listing of A shares and B shares through a shareholders' meeting resolution. Voluntary delisting became the “same” choice for these listed companies. “Active delisting is legally a stop-loss strategy.” Attorney Guo Siyan of Guangdong Huayu Pinzhi Law Firm told reporters that for struggling companies such as*ST Konka A, voluntary delisting can preserve more autonomy for the company and create more flexible space for subsequent asset restructuring or introduction of strategic investors. Attorney Yang Zhaoquan, director of Beijing Weinuo Law Firm, believes that active delisting can complement bankruptcy and restructuring to help the capital market form a diversified and normalized exit pattern where mandatory delisting and active delisting go hand in hand.

In 2026, there have been three cases of voluntary delisting of A-shares. From Debon Co., Ltd. becoming the first active delisting company in the year at the beginning of the year, to Waxu B being privatized and delisted due to a comprehensive takeover initiated by the controlling shareholder, to the end of August, the “first color TV share” *ST Konka A plans to voluntarily withdraw the listing of A shares and B shares through a shareholders' meeting resolution. Voluntary delisting became the “same” choice for these listed companies. “Active delisting is legally a stop-loss strategy.” Attorney Guo Siyan of Guangdong Huayu Pinzhi Law Firm told reporters that for struggling companies such as*ST Konka A, voluntary delisting can preserve more autonomy for the company and create more flexible space for subsequent asset restructuring or introduction of strategic investors. Attorney Yang Zhaoquan, director of Beijing Weinuo Law Firm, believes that active delisting can complement bankruptcy and restructuring to help the capital market form a diversified and normalized exit pattern where mandatory delisting and active delisting go hand in hand.