Konka votes to quit the stock market after years of losses
Konka will voluntarily delist from Shenzhen After four straight years of losses topping 20 billion yuan, Konka decided to pull its A and B shares off the Shenzhen exchange and move to an over-the-counter market. Shareholders approved the plan on September 14, and trading has been suspended since September 4.
The voluntary delisting is the single biggest event of the period and directly ends 000016.CS's exchange listing.
Cash exit offered at 2.48 yuan per A share Panshi Runchuang and Hemao gave A-share holders a cash option at 2.48 yuan and B-share holders 0.73 Hong Kong dollars, with record dates September 22 and 28. This sets a floor-like exit price but confirms the shares will not trade normally again.
The cash option is the concrete mechanism that determines what remaining shareholders get, so it drives the stock's value now.
Half-year loss narrowed but debt still crushing First-half 2026 revenue fell 26.6% to 3.852 billion yuan, with a net loss of 173 million yuan, better than last year. But net assets are negative 6.227 billion yuan and the debt ratio is 133%, so the company is technically insolvent.
These interim numbers show why delisting happened and how weak the underlying business remains.
New lawsuits add risk, one big case closed Konka disclosed 645 million yuan of new lawsuits and arbitrations in 12 months, with 442 million yuan as defendant. Offsetting that, the Supreme People's Court rejected a 752 million yuan retrial bid against Konka, removing a major potential liability.
Legal claims are a real financial overhang, and the top court ruling is the one clearly positive legal development.