Konka Group Co Ltd

ST Konka A announced on September 17 that the company passed a resolution to terminate its listing at an extraordinary shareholders' meeting on September 14, 2026, and will submit an application for voluntary delisting to the Shenzhen Stock Exchange within fifteen trading days after the shareholders' meeting adopts the termination resolution. In the first half of 2026, ST Konka A achieved revenue of 3.852 billion yuan and a net loss attributable to the parent company of 173 million yuan.

Since 2026, the delisting landscape in the A-share market has become more diversified and routine. As of August 31, 21 companies had been delisted from the domestic stock market, with reasons covering financial delisting, mandatory delisting for major violations, trading-related delisting, and voluntary delisting. Among them, three were voluntary delistings. Veteran home appliance maker ST Konka A announced on the evening of August 27 that it plans to voluntarily withdraw its A-share and B-share listings from the Shenzhen Stock Exchange through a shareholders' meeting resolution. Trading in the company's shares has been suspended since the market opened on September 4, and a second extraordinary general meeting for 2026 will be held on September 14 to consider the matter. Konka Group said that after the termination of listing, it will maintain stable operations, has no current plans for major asset restructuring, and has no specific timetable for relisting after the voluntary delisting. Konka Group's predecessor was Guangdong Guangming Overseas Chinese Electronics Industry Company, founded in 1980. In 1992, Konka A and B shares listed on the Shenzhen Stock Exchange, earning it the title of the first color TV stock. In 1998, its domestic market share in color TVs topped the industry. In 2017, net profit attributable to the parent company once peaked at 5.057 billion yuan. From 2022 through the first half of 2026, the company accumulated losses exceeding 20 billion yuan, including a loss of 12.582 billion yuan in 2025. In the first half of 2026, it achieved operating revenue of 3.852 billion yuan, down 26.60 percent year on year, with net profit attributable to the parent company of negative 173 million yuan, compared with negative 383 million yuan in the same period last year. As of the end of June 2026, net assets attributable to the parent company stood at negative 6.227 billion yuan, and the asset-liability ratio reached 133.01 percent. According to Wind data, after excluding restructuring-related delistings, 21 companies had been delisted in the first eight months of this year. Among them, four involved mandatory delisting for major violations, 13 involved financial delisting, and one was a voluntary delisting, with financial delistings accounting for 60 percent. By industry, computer, defense and military, and building decoration sectors had the most delisted companies, with the computer industry alone accounting for six.

Konka Group A, stock code 000016 and 200016, announced that the company and its holding companies have accumulated new litigation and arbitration amounts totaling 645 million yuan over the past 12 consecutive months, accounting for 10.61 percent of the company's most recent audited net assets in absolute terms. Of this, the amount where the company and its holding companies act as plaintiffs or applicants is 142 million yuan; the amount where they act as defendants or respondents is 442 million yuan; and the amount where they act as third parties is 61.37 million yuan. In the first half of 2026, Konka Group A achieved revenue of 3.852 billion yuan, with a net loss attributable to the parent company of 173 million yuan.

*ST Konka A has been suspended from trading since September 4, pending a shareholder vote on whether to voluntarily delist. The company previously announced that it will hold an extraordinary general meeting on September 14, 2026 to consider a resolution to terminate its listing, with the record date set for September 3. Under Shenzhen Stock Exchange rules, the company has applied for its shares to be suspended from trading starting September 4. If shareholders approve the delisting resolution, the exchange will delist the shares within five trading days after the announcement; if not, trading will resume on September 15.

Today, Konka Group plans to voluntarily terminate its listing, with trading suspended from the market open on September 4. Meanwhile, Jingzhida recently signed a semiconductor testing equipment procurement agreement with a client, with a total contract value of 1.576 billion yuan, and delivery is expected to be completed within two years. Shengtun Mining's subsidiary Sichuan Shengfengyuan Mining plans to acquire 65% equity in Tibet Haiteng Industrial for 709 million yuan. The target company holds exploration rights for the Bagala East lead-zinc mine, and its identified silver metal volume meets the standard for a large-scale domestic silver mine. In addition, the State Council Information Office will hold a press conference at 10 a.m. on September 4 to introduce progress in promoting high-quality development of medical insurance. The U.S. August nonfarm payrolls report will also be released that day.

Today, China's A-share market saw all three major indices close slightly higher. The Shanghai Composite Index ended at 3,942.09 points, up 0.02 percent, the Shenzhen Component Index rose 0.10 percent, and the ChiNext Index gained 0.01 percent. Total market turnover for the day was about 1.78 trillion yuan. Among sectors, the lab-grown diamond sector led gains, followed by insurance and precious metals. According to statistics from Securities Times Data Treasure, excluding sub-new stocks listed within the past year, a total of 11 stocks hit record closing highs today, with machinery equipment, electronics, and transportation industries relatively concentrated. Among stocks that hit record closing highs, the average share price rose 5.97 percent today. Haitong Development hit the daily limit, while Jiuzhou Yigui, Jinlu Electronics, and Injoinic Technology were among the top gainers. In addition, institutional research reports released 53 buy-type rating records today, of which 9 stocks have upside potential exceeding 20 percent. China Merchants Property Operation and Service had the highest upside potential at 73.74 percent. On the Dragon and Tiger list, 7 stocks saw net institutional buying exceeding 10 million yuan, with华盛昌 receiving the largest net institutional buying of 53.66 million yuan. In evening announcements, Konka Group A, stock code 000016, plans to voluntarily terminate its listing, and trading in the stock will be suspended from the opening of the market tomorrow.

Konka, once hailed as the king of China's national color TVs, plans to voluntarily delist after 34 years on the A-share market. On the evening of August 27, Konka announced that it intends to voluntarily withdraw its A-shares and B-shares from listing and trading on the Shenzhen Stock Exchange, and apply to transfer to the National Equities Exchange and Quotations for listing and transfer. Konka was founded in 1980 and listed in 1992. At its peak, annual TV sales exceeded 10 million units, ranking first in market share. However, in recent years it has continued to incur losses. From 2022 to 2025, net losses attributable to the parent company were 1.723 billion yuan, 2.258 billion yuan, 3.726 billion yuan, and 12.582 billion yuan respectively, with cumulative losses over four years exceeding 20 billion yuan. In July 2025, the former controlling shareholder, Overseas Chinese Town Group, transferred its shares free of charge to Panshi Runchuang under China Resources, and the actual controller was changed to the State-owned Assets Supervision and Administration Commission of the State Council. After China Resources took over, operations did not improve significantly. In the first half of 2026, revenue was 3.852 billion yuan, and the net loss attributable to the parent company was approximately 173 million yuan. To protect shareholder rights, Panshi Runchuang and Hemao Company respectively provided cash options to A-share and B-share shareholders, with exercise prices of 2.48 yuan per share and 0.73 Hong Kong dollars per share.

*ST Konka A released its 2026 interim report on August 28, 2026. As of June 30, the company's total operating revenue was 3.852 billion yuan, and net profit attributable to the parent was negative 173 million yuan, an improvement of 211 million yuan compared with the same period last year, marking a second consecutive year of narrowing losses. Net cash flow from operating activities was negative 536 million yuan, an improvement of 139 million yuan year-on-year. The asset-liability ratio was as high as 133.01%, and the gross margin was 6.41%, up 1.36 percentage points year-on-year. Diluted earnings per share were negative 0.07 yuan, an improvement of 0.09 yuan year-on-year. Total asset turnover was 0.19 times, and inventory turnover was 2.30 times, both improving for a second consecutive year. The company had 96,600 shareholders, and the top ten shareholders held 38.30% of the total share capital.

Hong Kong Konka Limited, a wholly owned subsidiary of Konka Group, has filed a request for arbitration over an international goods sale contract dispute, seeking joint and several compensation for losses and capital occupation fees from three respondents: Anden Electronics Limited, Jinsheng Dilong Technology Limited, and Hong Kong Jinzhu Electronics Limited. The amount involved is 96.44 million yuan. The company disclosed the matter in an announcement on August 18. In the first quarter of 2026, Konka Group achieved revenue of 1.932 billion yuan, with a net loss attributable to the parent company of 184 million yuan.