By NUPIAO News | Reporter: Song Jianan
Konka Group, the veteran home appliance maker, is going through a painful, scalpel-deep internal cleansing.
According to the “Huizhou Qingfeng” official WeChat account on August 19, Yang Bo, former vice president of Konka Group Co., Ltd., is suspected of serious disciplinary and legal violations. He is currently subject to disciplinary review by the Central Commission for Discipline Inspection and the National Supervisory Commission’s discipline inspection team stationed at China Resources Group, as well as supervisory investigation by the Huizhou City Huidong County Supervisory Commission.
Public records show Yang Bo was born in 1970, holds a master’s degree, and his career spans media, telecommunications, and home appliances. Before joining Konka, he worked as an editor and director for the education and finance channel of Shenzhen Cable TV Station, and later held market and operations management positions at a U.S.-funded telecom company, Topway Video, and Tianhua Century Media.
In March 2017, Yang Bo became vice president of Konka Group, where he was involved in the company’s smart terminal and industrial park business expansion until his resignation on January 12, 2026.
Annual report data reveals that during his tenure at Konka, Yang Bo’s highest annual pre-tax salary approached 3 million yuan (in 2020), placing him among the company’s high-earning management team. As of August last year, Yang Bo had no affiliation with shareholders holding more than 5% of the company’s shares, the actual controller, or other directors and senior managers, and he did not hold any company stock.
What’s noteworthy is that since the start of 2026, Konka has seen a series of executive changes, and multiple people have been investigated.
After Yang Bo’s resignation, on the evening of January 16, Shenzhen Konka A announced that the company and its board of directors had received a written resignation report from Cao Shiping on January 16, 2026. Citing work arrangements, Cao Shiping requested to resign from his positions as director of the 11th board, member of the board’s strategy and investment committee, and president of the company. After resigning from these positions, Cao Shiping would continue to work at the company.
At the end of January, “Huizhou Qingfeng” reported that Zhou Bin, former Party Secretary and vice chairman of the board of Konka Group, and Li Hongtao, former vice president of Konka Group, were suspected of serious disciplinary and legal violations and were under disciplinary review and supervisory investigation. Zhou Bin had long overseen the group’s operations and was a key figure in Konka’s previous large-scale diversification push.
By April, Liu Xitian, former assistant president of Konka, was placed under disciplinary and supervisory review. In May, Yang Saiqing, deputy general manager of the group’s other business management department, and Li Yanbo, former deputy general manager of Konka Xinying Semiconductor, were both reported in succession. In July, Guo Yimian, former manager of Konka Venture Capital’s subsidiary, also entered the review and investigation list. All these cases are being handled by the discipline inspection team stationed at China Resources Group.
Founded in 1980, Konka Group was the first Sino-foreign joint venture electronics company in China after the reform and opening-up. It was listed on the Shenzhen Stock Exchange in 1992 and was once a leading player in the domestic TV industry.
In July 2025, with approval from the State-owned Assets Supervision and Administration Commission of the State Council, the original controlling shareholder, OCT Group, transferred its Konka shares without compensation. China Resources Group became Konka’s new controlling shareholder through its subsidiary, while the actual controller remains the State Council SASAC. Konka was officially incorporated into China Resources’ technology manufacturing business segment, which immediately triggered a comprehensive internal rectification.
On the business front, Konka today is far from being just a home appliance maker. The company’s current main businesses are divided into three segments: consumer electronics, semiconductors, and PCB (printed circuit boards). Traditional TV and white goods consumer electronics remain the core foundation, while the company is making heavy bets on semiconductor chip business and expanding into industrial parks, venture capital, and other diversified areas.
But diversification hasn’t delivered the expected operational returns—instead, it has piled on a heavy financial burden. From 2022 to 2025, the company racked up massive losses year after year. The 2025 annual report shows total operating revenue of 9.835 billion yuan, down 1.279 billion yuan from the same period in 2024, a year-on-year decline of 11.51%. Net profit attributable to shareholders was a loss of 12.582 billion yuan, down 8.857 billion yuan year-on-year. Net cash flow from operating activities was -1.611 billion yuan, a sharp decline of 1,026.45% year-on-year.
As a result, starting April 30, 2026, Konka Group’s A-shares and B-shares were officially placed under delisting risk warning plus other risk warnings by the Shenzhen Stock Exchange, with securities names changed to *ST Konka A and *ST Konka B. If the company’s audited net assets fail to turn positive by the end of 2026, the company’s stock will face the risk of termination of listing.
Looking at the latest first-quarter financial data, the company achieved revenue of 1.932 billion yuan in Q1 2026, down 24.08% year-on-year, while net profit attributable to shareholders continued to lose 184 million yuan, down 293.89% year-on-year. The semi-annual performance forecast shows the loss margin has narrowed, but the semiconductor business is still in the early stages of industrialization and has yet to contribute profits, leaving overall operational pressure still prominent.
