Konka announced that, given that the net assets of Konka Group Co., Ltd. (hereinafter referred to as “the Company” or “Konka Group”) were negative at the end of the audited period in 2025, the Company’s stock has been subject to delisting risk warning
By Frank Ulom
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Published on August 27, 2026
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6 min read
Konka, once known as the “King of Color TVs,” announced on August 27 that it would voluntarily terminate the listing of its shares through a shareholders’ meeting resolution.
Konka announced that, given that the net assets of Konka Group Co., Ltd. (hereinafter referred to as “the Company” or “Konka Group”) were negative at the end of the audited period in 2025, the Company’s stock has been subject to delisting risk warning . According to the relevant provisions of the “Shenzhen Stock Exchange Stock Listing Rules” (hereinafter referred to as the “SZSE Stock Listing Rules”), if the Company’s net assets continue to be negative at the end of the audited period in 2026, the Company’s stock will be delisted by the SZSE.
To protect the interests of minority shareholders, in accordance with the provisions of the Shenzhen Stock Exchange Listing Rules and other relevant laws, regulations, and normative documents, and after deliberation and approval by the company’s board of directors, the company intends to voluntarily withdraw its A-shares and B-shares from the listing and trading on the Shenzhen Stock Exchange (hereinafter referred to as “SZSE”) by way of a shareholders’ meeting resolution , and apply for transfer to the delisting board managed by the National Equities Exchange and Quotations (NEEQ) after the delisting of the shares. Shareholders are requested to make a careful decision when voting at the shareholders’ meeting.
According to Article 9.7.4 of the Shenzhen Stock Exchange Listing Rules, if the company voluntarily terminates its stock listing through a shareholders’ meeting resolution, the company shall apply to the Shenzhen Stock Exchange for a trading suspension of its shares starting from the next trading day following the record date of the shareholders’ meeting ( i.e., the suspension will begin on September 4 ). The company may submit its voluntary termination application to the Shenzhen Stock Exchange within fifteen trading days after the shareholders’ meeting makes the resolution to terminate the listing.
According to Articles 9.7.8 and 9.7.9 of the Shenzhen Stock Exchange Listing Rules, the Shenzhen Stock Exchange shall make a decision on whether to accept the company’s application for termination of listing within five trading days after receiving the application documents submitted by the company and notify the company accordingly; within fifteen trading days after accepting the company’s application, the Listing Committee shall formulate its review opinion, and the Shenzhen Stock Exchange shall make a decision on whether to terminate the company’s stock listing based on the review opinion of the Listing Committee.
On July 23, 2026, China Resources Limited held a board meeting and agreed to the company’s voluntary termination of its listing.
On August 27, 2026, the company held the third meeting of the Strategy and Investment Committee of the 11th Board of Directors and the eighth meeting of the Independent Directors of the 11th Board of Directors, and approved the “Proposal on Voluntarily Terminating the Listing of the Company’s Stock by Resolution of the Shareholders’ Meeting”, agreeing to submit the proposal to the 12th meeting of the 11th Board of Directors for deliberation.
On August 27, 2026, the 12th meeting of the 11th Board of Directors of the Company reviewed and approved the “Proposal on Voluntarily Terminating the Listing of the Company’s Stock by Resolution of the Shareholders’ Meeting”.
The proposed voluntary termination of the listing by way of a shareholders’ meeting resolution requires approval by more than two-thirds of the valid voting rights held by all shareholders present at the company’s shareholders’ meeting, and also requires approval by more than two-thirds of the voting rights held by all shareholders present at the company’s shareholders’ meeting, excluding shareholders who individually or collectively hold more than 5% of the listed company’s shares and the listed company’s directors and senior management.
Daily Lamp notes that Konka also issued a notice regarding the convening of the second extraordinary shareholders’ meeting in 2026, scheduled for September 14 , where a vote will be held on the “Proposal on Voluntarily Terminating the Company’s Stock Listing by Resolution of the Shareholders’ Meeting”.
Konka also released its 2026 semi-annual report on the same day:
- In the first half of 2026, operating revenue was 3.852 billion yuan, a year-on-year decrease of 26.6%;
- The company reported a net loss attributable to the parent company of RMB 173 million, a 54.93% reduction in losses compared to the same period last year.
Konka announced that in the first half of 2026, the company continuously optimized its business structure through professional integration and comprehensively improved the efficiency of the entire chain of “R&D, production, supply, sales and service” through lean management. As a result, the company’s operating expenses continued to decline and its operating profit improved year-on-year. In addition, the investment income of its equity-participating enterprises increased by RMB 471 million year-on-year. The company reduced its losses compared with the same period last year. However, due to the following reasons, the company is still in a loss-making state overall.
- 1. In the first half of 2026, the upstream supply chain of the company’s consumer electronics business continued to fluctuate, and product costs continued to rise. The adjustment of product structure and pricing strategy failed to effectively offset the pressure of rising costs, and the gross profit margin of the business was further squeezed. Although the period expenses continued to be optimized, the gross profit did not effectively cover the period expenses, and the operating profit was still in a loss state.
- 2. At present, the company’s semiconductor business is still in the early stage of industrialization. Although some products have achieved industrialized sales, large-scale and profitable output has not yet been achieved, and the overall operation of the semiconductor business is in a loss-making state.
According to its official website, Konka Group was established on May 21, 1980, and was the first Sino-foreign joint venture electronics company established after China’s reform and opening up. The company started with the production of radio cassette recorders, and in 1984, it built its first color TV production line. In 1992, Konka’s A and B shares were listed on the Shenzhen Stock Exchange. The company has more than ten production bases in Chuzhou, Dongguan, Xinxiang, Chongqing, and other locations, and owns two major trademarks: KONKA and Xinfei, as well as 13 subsidiaries.
At its peak, Konka TVs sold over ten million units annually, holding the top market share and claiming the title of “King of Color TVs.” On July 22, 2025, with the completion and public announcement of the equity transfer in Konka’s professional integration project, Konka entered the management system of China Resources (Holdings) Co., Ltd.
