You don't have to cancel. If you don't attend the annual inspection when it expires, you will automatically cancel after half a year, and there will be no legal responsibility. But if you have an official seal, you should keep it or destroy it. Because of the contract signed with your official seal and other acts within your validity period, you will be the last person to bear legal responsibility, and the debt bonds during your operation will no longer be protected by law after the business license expires.