Konka Group Co.Ltd(000016) termination of share issuance and payment of cash for asset purchase

Konka Group Co.Ltd(000016) announcement: previously, the company planned to issue shares to purchase 100% equity of Ming hi tech, to issue shares and pay cash to purchase 100% equity of haisida power supply, and to issue shares to the controlling shareholder OCT Group Co., Ltd. to raise supporting funds. As the company and the shareholders of haisida power failed to reach an agreement on some core terms of this transaction, the company decided to terminate this transaction after careful study.