Management Changes - Konka Group's president, Cao Shiping, submitted his resignation due to work arrangements, effective January 16, and will continue to work within the company [2] - Vice President Yang Bo also submitted his resignation three days prior, with Dong Gang from China Resources Group appointed as his successor [2] - The frequent personnel changes are attributed to the accelerated entry of executives from China Resources [2] Shareholding and Control - In late July 2025, Konka Group officially transitioned to being controlled by China Resources after the transfer of 198 million B-shares from Overseas Chinese Town Group [3] - Wu Jianjun, with a background in China Resources, was appointed as the new chairman and legal representative of Konka [3] - The current board consists of five non-independent directors, four of whom have experience with China Resources-related enterprises [3] Financial Performance - Konka Group has seen a significant decline in revenue, dropping from over 55 billion yuan at its peak to less than 20 billion yuan, with three consecutive years of net losses totaling nearly 7 billion yuan from 2022 to 2024 [4] - The company anticipates another year of losses for 2025, marking four consecutive years of negative net profit [5] - For the first three quarters of 2025, Konka reported revenue of 7.679 billion yuan, a year-on-year decrease of 5.43%, and a net loss of 982 million yuan, an increase in loss of 38.89% compared to the previous year [5]