Konka Group faces $276.89m in new litigation and arbitration

Konka Group Co., Ltd. and its subsidiaries have announced cumulative new litigation and arbitration cases amounting to 276.89 million yuan over the last twelve months. This represents 11.68% of the company's most recent audited net asset value. Of this total, 45.88 million yuan relates to cases where Konka Group or its subsidiaries are plaintiffs or applicants, while 231.00 million yuan involves cases where they are defendants or respondents.

Key defendant cases include a construction contract dispute with Nantong Haimen Construction Engineering Holding Group totaling 99.00 million yuan, an equity transfer dispute with Nanjing Jiangbei Jiakang Technology Venture Capital Partnership totaling 40.26 million yuan, and a construction contract dispute with Sichuan Yisheng Construction Group totaling 28.06 million yuan. The company notes that some cases are ongoing, preventing a precise assessment of their impact on current or future profits.

The company will perform accounting adjustments based on case developments and monitor the progress of these matters, fulfilling information disclosure obligations. Investors are advised to consider the investment risks.