Konka navigates losses, strategically restructures finances and operations

Konka Group (SZSE:000016) is undertaking a comprehensive restructuring amidst a challenging financial backdrop. The company's 2024 annual report summary reveals a net loss of CNY 3.296 billion. Revenue declined by 37.73% to CNY 11.115 billion. Key factors include the planned exit from non-core businesses, reduced non-recurring gains, and increased investments in the MLED sector. The company has announced they do not intend to distribute profits to shareholders, nor are there plans to increase share capital.