Konka Group Company Limited has formally entered the execution stage of a voluntary delisting. ST Konka A and ST Konka B issued a reminder announcement on September 17 regarding the distribution of cash option rights. Earlier, on September 14, the company's extraordinary shareholders' meeting had approved the proposal to voluntarily terminate its listing through a shareholders' resolution. This veteran home appliance maker, which topped China's colour TV market in the 1990s, is leaving the Shenzhen Stock Exchange on its own initiative after roughly 34 years of listing. The direct trigger is insolvency: in 2025, net profit attributable to the parent company recorded a loss of 12.582 billion yuan, net assets attributable to the parent company stood at a loss of 6.083 billion yuan at year-end, and the asset-liability ratio was about 126.22 percent. In the first half of 2026, revenue was 3.852 billion yuan, down 26.6 percent year on year, net profit attributable to the parent company recorded a loss of 173 million yuan, net assets attributable to the parent company further deteriorated to a loss of 6.227 billion yuan, and the asset-liability ratio rose to 133.01 percent. The company's shares have been suspended from trading since the market opened on September 4, 2026. It will submit an application for voluntary delisting to the Shenzhen Stock Exchange within fifteen trading days after the shareholders' meeting passes the resolution to terminate listing. A-share shareholders may apply to exercise cash option rights at 2.48 yuan per share, and B-share shareholders at 0.73 Hong Kong dollars per share. Konka's net profit attributable to the parent company after deducting non-recurring items has been negative for fifteen consecutive years from 2011 to 2025, and from 2022 to 2025 the four-year combined loss in net profit attributable to the parent company was about 20.289 billion yuan. In July 2025, Overseas Chinese Town transferred its equity interest at the controlling shareholder level of Konka to the China Resources system, and the actual controller changed to China Resources. After China Resources took over, it mainly maintained the company's operations through loans, guarantees, perpetual bonds and other means, and did not inject high-quality assets on a large scale.
Konka Group Co LtdKonka is voluntarily delisting after liabilities exceeded assets by over 6 billion yuan, with net assets at a loss of 6.083 billion yuan and asset-liability ratio of 126.22%.
Shenzhen Overseas Chinese Town Co Ltd