Konka Group aborts asset acquisition, schedules investor briefing

Konka Group [SZSE:000016] announced the termination of its planned acquisition of宏晶微电子科技股份有限公司 (Hongjing Microelectronics Technology Co., Ltd.) shares via share issuance, along with the related fundraising efforts. This decision, approved by the board on June 10, 2025, comes after the company and involved parties failed to reach consensus on key terms of the transaction. Originally announced in December 2024, the proposed transaction involved Konka issuing shares to purchase 78% of Hongjing Microelectronics. Konka will host an investor briefing on June 20, 2025, via the Shenzhen Stock Exchange's "Interactive Easy" platform to address investor concerns regarding the termination. The company has pledged not to plan any further major asset restructuring within one month from the announcement date.