Legal basis: People's Republic of China (PRC) Company Law.
Article 180 The company is dissolved for the following reasons:
(1) The business term stipulated in the articles of association expires or other reasons for dissolution stipulated in the articles of association occur;
(2) The shareholders' meeting or shareholders' meeting decides to dissolve;
(3) The company needs to be dissolved due to merger or division;
(4) The business license is revoked, ordered to close or revoked according to law;
(5) The people's court shall be dissolved in accordance with the provisions of Article 182 of this Law.
Article 181 A company may survive by amending its articles of association under the circumstances specified in Item (1) of Article 180 of this Law.
To amend the Articles of Association in accordance with the provisions of the preceding paragraph, a limited liability company must be approved by shareholders holding more than two thirds of the voting rights, and a joint stock limited company must be approved by shareholders attending the shareholders' meeting.
Article 182 Serious difficulties have occurred in the operation and management of the company, which will cause great losses to the interests of shareholders. If it cannot be solved by other means, shareholders who hold more than 10% of all shareholders' voting rights of the company may request the people's court to dissolve the company.