KONKA Group Co., Ltd. (KONKA), once known as the “LCD TV King of Mainland China,” has been incurring substantial losses for three consecutive years, with its net assets continuously in negative value. KONKA has announced its decision to withdraw from the stock market.
According to a recent announcement released by KONKA titled “Proposal to Withdraw the Listing of Company Stock on the Shenzhen Stock Exchange,” it stated that “After deliberation by the board of directors, the company intends to voluntarily withdraw the listing of A shares and B shares on the Shenzhen Stock Exchange through a shareholder resolution, and apply for transfer to the delisted trading board managed by the National Equities Exchange and Quotations Co., Ltd. after the stock is delisted.”
KONKA, formerly known as the LCD TV King of China, had secured the top spot in LCD TV sales nationwide in the 1990s. The decision to delist now signifies the formal initiation of the delisting process for the once-prominent LCD TV giant.
The announcement cited the reason for delisting as follows: “As of the end of the 2025 fiscal year, the net assets were negative, and the company’s stock has been subject to delisting risk warnings. In accordance with the relevant provisions of the Shenzhen Stock Exchange’s Stock Listing Rules, if the company’s net assets continue to be negative at the end of the 2026 fiscal year, the company’s stock will be delisted by the Shenzhen Stock Exchange.”
Financial data from KONKA’s annual reports revealed significant losses for the company in the years 2023 to 2025. According to the summary of the 2025 annual report of KONKA Group Co., Ltd. released on April 29, 2026, the net loss for 2025 amounted to 12.582 billion yuan.
Mainland media outlets and financial analysts have remarked that KONKA has lost in one year what it had earned in the past decade.
Entering into 2026, KONKA’s financial situation has not shown signs of improvement. KONKA’s semi-annual report for 2026, released on August 28, indicated a 26.6% year-on-year decrease in revenue to 3.85 billion yuan for the first half of 2026. The revenue from white goods and LCD TV business was 1.91 billion yuan and 1.2 billion yuan, marking an 8.81% and 46.29% decrease respectively.
An industry insider close to KONKA stated on September 14, in an interview with “Caijing,” a financial magazine, that KONKA’s LCD TV business had generated annual revenues of over 20 billion yuan at its peak around 2013. Currently, the revenue has scaled down to approximately one-tenth of its peak period ten years ago.
Furthermore, KONKA is still struggling with debt exceeding assets. The insider mentioned that KONKA’s market value stands at 5.924 billion yuan. As of the first half of 2026, KONKA’s total assets amounted to 18.419 billion yuan, total liabilities were 24.498 billion yuan, and negative assets have surpassed 6 billion yuan. Increasing shares or injecting assets to maintain its listing status proves to be challenging for KONKA. Voluntary delisting is deemed more viable than forced delisting.
Analyzing the situation, sources quoted by “Caijing” stated that KONKA was the first Sino-foreign joint venture electronics company in China and one of the first listed companies on the Shenzhen Stock Exchange. The current situation is primarily attributed to governance issues, lack of continuity, and the management’s inadequate industry strategic vision, resulting in the present outcome. KONKA’s past decisions were marked by strategic errors and management failures.
Public records indicate that KONKA Group Co., Ltd. was established on May 21, 1980, with its headquarters located in Nanshan District, Shenzhen, Guangdong Province. The company is a limited liability company primarily engaged in consumer electronics, semiconductors, and PCB businesses.