with tbl as (
    SELECT ITEM_CODE FROM stock
    group by ITEM_CODE
    having
    (max(LAST_DELIVERY_DATE) < '2023-12-01'
    OR max(LAST_DELIVERY_DATE) IS NULL)
    AND sum(ACTUAL_AMT) = 0
)

delete from ITEM
WHERE
STOCK_MANAGEMENT_TYPE = 1
AND
(
  ITEM_CODE NOT IN (SELECT ITEM_CODE FROM STOCK)
  OR ITEM_CODE IN (SELECT ITEM_CODE FROM tbl)
)