(Yicai Global) Jan. 5 -- The number of companies that delisted from the Shanghai and Shenzhen stock exchanges hit a record high of 43 last year, almost more than in the previous three years combined, with 41 forced out for financial reasons.

Eighteen quit the Shanghai Stock Exchange's main board, 17 left the Shenzhen Stock Exchange's main board, and eight exited Shenzhen’s Nasdaq-style ChiNext board, according Wind Information, the financial data platform.

Game developer Egls was forced to delist after its share price stayed below CNY1 (15 US cents) for 20 straight trading days. Coal miner Inner Mongolia Pingzhuang Energy Resources applied to leave after merging with China Longyuan Power Group, the country’s largest wind power producer.

Regulators introduced new delisting rules in late 2020, including stricter standards, shorter processes, and a curb on speculations in shell companies, improving the quality of listed companies and protecting investors' rights. 

A total of 188 stocks had delisted from the Shanghai and Shenzhen bourses as of the end of last year, up from 20 in 2021, 16 in 2020, and 10 in 2019.

Regulators also stepped up efforts to crack down on liable companies. Seventeen of the delisted companies last year were punished for breaches of information disclosure, with their directors, supervisors, senior executives, and other responsible parties receiving criticism and warnings from the exchanges.

Editors: Dou Shicong, Martin Kadiev