Group 1 - Debon Holdings (603056) announced that its stock will be suspended from trading on January 21, 2026, until the Shanghai Stock Exchange announces the delisting decision, marking the company's termination of listing [1] - The company has provided a cash option for investors with an exercise price set at 19.00 CNY per share, covering no more than 19.99% of shares, with the record date for the stock being February 6, 2026 [2][3] - As of January 16, 2026, Debon Holdings' stock price closed at 18.68 CNY per share, with a market capitalization of 19 billion CNY, following three consecutive trading limits [1][2] Group 2 - The case of Debon Holdings reflects a growing trend of "voluntary delisting" in the A-share market, with several companies opting for this route for strategic reasons such as mergers and reorganizations [3] - The regulatory environment is tightening around forced delistings, with over 30 companies expected to be delisted in 2025, particularly due to significant violations like financial fraud [3] - Both voluntary and forced exits indicate a strengthening of investor protection mechanisms within the regulatory framework [3][4] Group 3 - The overall trend points towards the formation of a healthier and more effective capital market in the A-share ecosystem, characterized by a balance of entries and exits [4]