Konka Group's joint-stock company's shareholder loans are overdue, taking multiple measures to ensure the safety of funds.

date
26/09/2025
KONKA Group announced that its joint-stock company Guan Kang Yuhong, responsible for the Guan Kang renovation project, has a long investment cycle and the progress is not as expected. KONKA Group has provided a shareholder loan of 400 million, and after the equity transfer, the remaining 196 million will continue to exist. After two extensions, the loan is now due. Due to insufficient funds, Guan Kang Yuhong is unable to repay the principal and interest, resulting in overdue loans. As of June 30, 2025, Guan Kang Yuhong's net assets were -109,861,000 yuan. KONKA has sent a letter requesting payment, established a special group to supervise operations, promote project progress, and agree on rental property return. Although there are risks in the project startup, it is expected to not affect the company's normal operation, and progress will be disclosed in a timely manner.