Group 1 - The stock of Beiliang fell by 2.28% on November 11, closing at 30.41 yuan, with a significant block trade occurring, totaling 653,400 shares and a transaction amount of 17.88 million yuan [1] - The first transaction price was 27.36 yuan for 653,400 shares, resulting in a transaction amount of 17.88 million yuan, with a premium rate of -10.03% [1] - The buyer was China Galaxy Securities Co., Ltd., and the seller was GF Securities Co., Ltd. [1] Group 2 - In the last three months, the stock has recorded one block trade with a total transaction amount of 17.88 million yuan [1] - Over the past five trading days, the stock has increased by 2.05%, with a net inflow of main funds totaling 12.50 million yuan [1]

Core Viewpoint - The company, Beikong (688793.SH), has reported a significant change in shareholding by its shareholder Wang Qiaoqing, resulting in a decrease in both the number of shares held and the ownership percentage [1] Summary by Categories Shareholding Changes - The shareholder Wang Qiaoqing has reduced their holdings from 4,811,500 shares to 4,297,200 shares, a decrease of 514,300 shares [1] - The ownership percentage has dropped from 5.5983% to 4.9999% following this reduction [1]

Group 1 - The core point of the news is that Beilingsong executed a block trade of 653,400 shares on November 11, with a transaction value of 17.8775 million yuan, accounting for 36.58% of the total trading volume for that day [1] - The transaction price was 27.36 yuan, which represents a discount of 10.03% compared to the market closing price of 30.41 yuan [1] Group 2 - The block trade details include a transaction date of November 11, 2025, with the stock code 688793 for Beilingsong [2] - The buying brokerage was identified as "Limited Company Zhengshi Investment," while the selling brokerage was "Guangfa Securities Co., Ltd." [2]

深圳市倍轻松科技股份有限公司 简式权益变动报告书 上市公司名称：深圳市倍轻松科技股份有限公司 股票上市地点：上海证券交易所 股票简称：倍轻松 股票代码：688793 信息披露义务人姓名/名称：汪荞青 住所：广东省深圳市*** *** 通讯地址： 广东省深圳市*** *** 股份变动性质：股份减少 简式权益变动报告书签署日期：2025 年 11 月 11 日 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司收购管理办法》（以下简称"《收购办法》"）、《公开发行证券的 公司信息披露内容与格式准则第 15 号—权益变动报告书》（以下简称"准则 15 号"）及相关的法律、法规编写本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人章程或内部规则中的任何条款，或与之相冲突。 | 信息披露义务人 | 指 | 汪荞青 | | --- | --- | --- | | 倍轻松 /公司/上市公司 | 指 | 深圳市倍轻松科技股份有限公司 | | 本次权益变动 | 指 | 信息披露义务人持有上市公司股份比例降至5%以下 | | （ ...

本次权益变动后，信息披露义务人合并持有公司股份数量由 4,811,500 股减少至 4,297,185 股，持有公司股份比例由 5.5983%减少至 4.9999%。 深圳市倍轻松科技股份有限公司（以下简称"倍轻松"、"公司"）收到股 东汪荞青发来《关于权益变动的告知函》《简式权益变动报告书》，现将其有关 权益变动情况公告如下： 证券代码：688793 证券简称：倍轻松 公告编号：2025-072 深圳市倍轻松科技股份有限公司 关于持股 5%以上股东减持至 5%以下的权益变动提示 性公告 股东汪荞青保证向本公司提供的信息真实、准确、完整，没有虚假记载、误导性 陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： 本次权益变动为履行此前披露的减持股份计划，不触及要约收购。 本次权益变动为持股 5%以上非第一大股东减持，不会使公司控股股东、 实际控制人发生变化。 一、本次权益变动基本情况 （一）信息披露义务人基本情况 | 姓名 | 汪荞青 | | --- | --- | | 曾用名 | 无 | | 性别 | 女 | | 国籍 | 中国 | | 身份证件号码 | 34 ...

Core Viewpoint - The company, Beikong (688793.SH), has reported a significant change in shareholding by its shareholder Wang Qiaoqing, resulting in a reduction of shares held and a decrease in ownership percentage [1] Summary by Relevant Sections - **Shareholding Change** - The shareholder Wang Qiaoqing has reduced their holdings from 4,811,500 shares to 4,297,200 shares, a decrease of 514,300 shares [1] - The ownership percentage has decreased from 5.5983% to 4.9999% following this transaction [1]

Core Viewpoint - The company, Beiliang Technology, has experienced fluctuations in stock performance and significant declines in revenue and profit for the year 2025, indicating potential challenges in its business operations and market conditions [1][2]. Financial Performance - As of September 30, 2025, Beiliang Technology reported a revenue of 552 million yuan, a year-on-year decrease of 34.07% [2]. - The net profit attributable to shareholders was -65.628 million yuan, reflecting a significant decline of 600.98% compared to the previous period [2]. - The company's stock price increased by 1.28% year-to-date, with a 1.65% rise over the last five trading days, but a notable 12.42% decline over the past 60 days [1]. Shareholder Information - The number of shareholders increased by 4.92% to 5,073 as of September 30, 2025, while the average circulating shares per person decreased by 4.69% to 16,941 shares [2]. - Since its A-share listing, the company has distributed a total of 66.941 million yuan in dividends, with no dividends paid in the last three years [3]. Company Overview - Beiliang Technology, established on July 5, 2000, and listed on July 15, 2021, is based in Shenzhen, Guangdong Province, and focuses on the innovation, research, and development of health products, particularly portable smart massagers [1]. - The company's revenue composition includes various product segments: Other (24.24%), Shoulder (22.03%), Head & Scalp (18.10%), Eye (13.08%), Waist & Back (11.99%), and Neck (10.57%) [1]. Market Position - Beiliang Technology operates within the household appliances sector, specifically in small appliances and personal care devices, and is associated with concepts such as ByteDance, cross-border e-commerce, Tencent, artificial intelligence, and DeepSeek [1].

Core Insights - The company Beilingsong has received a significant downgrade in its information disclosure evaluation for 2024, falling from "Good" to "Unqualified" compared to 2023 [1][2]. Company Overview - Beilingsong Technology Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on July 5, 2000. It was listed on July 15, 2021 [1]. - The company specializes in the innovation, research, and development of health products, primarily focusing on the design, production, sales, and service of portable smart massagers [1]. - The revenue composition of Beilingsong includes: Other 24.24%, Shoulder 22.03%, Head and Scalp 18.10%, Eye 13.08%, Waist and Back 11.99%, Neck 10.57% [1]. Industry Classification - Beilingsong belongs to the Shenwan industry classification of Household Appliances - Small Appliances - Personal Care Small Appliances [1]. - The company is associated with several concept sectors, including Cross-border E-commerce, ByteDance Concept, Artificial Intelligence, DeepSeek Concept, and Tencent Concept [1].

Investment Rating - The investment rating for the company is "Outperform the Market" [5][3]. Core Insights - The company is experiencing ongoing operational pressure, with a significant decline in revenue and net profit for the first three quarters of 2025. Revenue decreased by 34.1% to 550 million, and net profit fell to -70 million, a decline of 601.0% [1]. - The company is actively exploring new growth opportunities by transforming its offline stores into a new model combining "technology products + quick-effect massage," launching the "Light Relaxation Moment" health management brand, and leveraging innovative technologies in product development [2][3]. - The gross profit margin has decreased by 5.9 percentage points to 60.9% in Q3, indicating pressure on profitability due to fixed costs and declining revenues [3]. Financial Performance Summary - For 2025, the company is projected to have a total revenue of 835 million, a decrease of 23.1% year-on-year, with a net profit of -54 million, reflecting a significant decline of 622.3% [4][26]. - The company anticipates a gradual recovery in revenue and profitability from 2026 onwards, with expected net profits of 25 million in 2026 and 48 million in 2027, indicating a turnaround [4][25]. - The company’s PE ratio is projected to be -48.1 for 2025, reflecting the current challenging operating environment [4][27].

Investment Rating - The investment rating for the company is "Outperform the Market" [5][3]. Core Views - The company is experiencing ongoing operational pressure, with a significant decline in revenue and net profit for the first three quarters of 2025. Revenue decreased by 34.1% to 550 million, and net profit dropped by 601.0% to -70 million. The third quarter alone saw a revenue decline of 28.5% to 170 million, with net profit losses expanding [1][3]. - The company is actively exploring new growth opportunities by transforming its offline stores into a new model that combines "technology products + quick-effect massage." The launch of the "Light Relaxation Moment" health management brand aims to enhance customer traffic and revenue [2][3]. - The company's gross margin has decreased by 5.9 percentage points to 60.9% in Q3, with rising expense ratios impacting profitability. The net profit margin for Q3 fell by 12.1 percentage points to -17.7% [3][4]. Financial Performance Summary - For 2025, the company is projected to have a total revenue of 835 million, a decrease of 23.1% year-on-year. The net profit is expected to be -54 million, reflecting a significant decline of 622.3% [4][26]. - The company anticipates a gradual recovery in revenue and profitability from 2026 onwards, with projected net profits of 25 million in 2026 and 48 million in 2027, indicating a turnaround [4][25]. - The company’s gross margin is expected to stabilize around 60% from 2025 to 2027, while the net profit margin is projected to improve as new business models and products are rolled out [20][23].