"彩电第一股"康佳主动退市

ST康佳于2026年8月27日公告，决定主动撤回A、B股上市地位，转板至全国股转退市板块1。曾经领衔国内彩电市场的这家企业，最终选择了离场。

根据2026年半年报，康佳陷入严重的经营困境1。上半年营收为38.52亿元，同比下降26.6%；净利亏损1.73亿元，已出现资不抵债局面，资产负债率高达133%1。此前2025年年报情况更加恶劣，全年营收98.35亿元同比下降11.51%，净利亏损125.82亿元，当年计提资产减值76.97亿元1。

康佳曾是业界翘楚。1992年登陆深交所时获得"彩电第一股"称号1，并在2003至2007年间连续五年蝉联国内彩电销量冠军1。然而，消费电子主业的持续失血与半导体多元化的战略失误，最终使这家老牌家电企业无法扭转颓势。半导体业务占比仅为1.65%1，多元化探索效果有限。2025年，华润与华侨城签订股份无偿划转协议，康佳成为华润集团旗下的业务单元1，此后的主动退市标志着其作为独立上市企业历史的终结。

ST Konka announced on August 27, 2026, its decision to withdraw from A-share and B-share listings and transfer to the delisting board of the National Equities Exchange and Quotations system 1. This marks the formal exit from public markets for what was once hailed as China's "first color TV stock" upon its debut on the Shenzhen Stock Exchange in 1992 1.

The delisting comes as the company faces severe financial deterioration. Its first-half 2026 financial report revealed revenues of 38.52 billion yuan, representing a year-over-year decline of 26.6 percent, coupled with a net loss of 1.73 billion yuan 1. The company's balance sheet shows negative equity of 62.27 billion yuan and a debt-to-asset ratio of 133 percent, indicating technical insolvency 1. The 2025 full-year results were equally dire, with revenues of 98.35 billion yuan down 11.51 percent year-over-year and a net loss of 125.82 billion yuan, following asset impairment charges totaling 76.97 billion yuan 1.

Konka's decline reflects a dramatic reversal from its historical prominence. Between 2003 and 2007, the company held the top domestic color television market share for five consecutive years 1. However, the company's core consumer electronics business has since hemorrhaged value, while its diversification into semiconductors has proven unsuccessful, with the semiconductor segment accounting for only 1.65 percent of operations 1. In 2025, China Resources and Overseas Chinese Town signed an agreement for gratis transfer of shares, placing Konka under the China Resources Group corporate umbrella 1.