Legal analysis: Backdoor listing is a financial term, which refers to a parent company (group company) injecting assets into a listed company with a lower market value to obtain a certain degree of controlling interest in the company and use it to go public. Corporate status, which enables the assets of the parent company to be listed.

Legal basis: "Measures for the Administration of Major Asset Restructuring of Listed Companies" Article 60 Any person who knows the information about major asset restructuring shall disclose the information, buy or sell, or advise others to buy or sell relevant listed companies before the relevant information is disclosed in accordance with the law. Securities, who use major asset restructuring to spread false information, manipulate the securities market, or conduct fraudulent activities, the China Securities Regulatory Commission will impose penalties in accordance with Articles 202, 203, and 207 of the Securities Law; Those suspected of committing a crime shall be transferred to judicial organs for investigation of criminal liability in accordance with the law.