Why did Kunming Shouqi disappear?

The reasons for the disappearance of Kunming Shouqi are as follows:

* * * Insufficient funds. * * Kunming First Bus is the abbreviation of Kunming New World First Bus Service Co., Ltd., which was jointly established by Kunming Bus Corporation, First Repair Shop and New World First Bus Service Co., Ltd. The company suffered serious losses and went bankrupt due to lack of funds, resulting in its disappearance.

* * * Share repurchase. * * The early termination of Kunming Shouqi, the repurchase of shares by state-owned capital and the withdrawal of social capital marked that the public-private partnership of Kunming urban public transport failed to survive and moved towards nationalization, so Kunming Shouqi disappeared.

The above reasons led to the disappearance of Kunming Shouqi, but the specific reasons for the disappearance need to refer to official information.