Liquidate and dissolve state-owned enterprises according to the following procedures: 1. Enterprises apply for bankruptcy to the court, and at the same time submit bankruptcy application and enterprise property list and other related materials to the court; 2. After the court accepts the case, it will issue an announcement to notify the known creditors, declare the creditor's rights, hold the first creditors' meeting, and set up a liquidation group to liquidate the assets; 3. The court may directly examine whether the enterprise meets the conditions for declaring bankruptcy according to law, and make a ruling to declare the enterprise bankrupt.

legal ground

Article 182 of the Company Law of People's Republic of China (PRC) * * * Company has serious difficulties in its operation and management, and its continued existence will cause great losses to shareholders' interests. If it cannot be solved by other means, shareholders holding more than 10% of all shareholders' voting rights of the company may request the people's court to dissolve the company.