Group 1 - The core business of the company in the smart water sector includes the research, development, production, and sales of various water meters, as well as water investment operations and the promotion of water management application systems [1] - The company currently does not engage in the production and sales of water pumps [1]

Group 1 - The company has a rare earth concept and engages in the recycling and utilization of rare earth materials through its subsidiary Tianhe Yongci [2] - Tianhe Yongci primarily processes NdFeB waste and molten salt slag to produce rare earth oxides such as praseodymium and neodymium oxides, which are mainly sold externally [2] - The production capacity of rare earth oxides at Tianhe Yongci is currently 1,500 tons per year [2]

Group 1 - The core business of the company, San Chuan Wisdom, in the smart water sector includes the research, production, and sales of various types of water meters, as well as water investment operations and the promotion of water management application systems [1] - The company currently does not engage in the production and sales of water pumps [1]

Group 1 - The core business of the company in the smart water sector includes the research, development, production, and sales of various types of water meters [1] - The company is also involved in water investment operations and the promotion of water management application systems [1] - Currently, the company does not engage in the production and sales of water pumps [1]

Core Viewpoint - The reduction announcement from the controlling shareholder of San Chuan Wisdom reflects the company's transformation challenges amid fluctuating financial performance and market conditions [1][2]. Group 1: Shareholder Actions - On September 8, San Chuan Wisdom announced that its controlling shareholder, Jiangxi San Chuan Group, plans to reduce its stake by up to 31.21 million shares, representing 3% of the total share capital, due to funding needs [1]. - The expected cash-out from this reduction, based on the closing price of 7.2 yuan per share, is approximately 225 million yuan [1]. - Since November 2013, Jiangxi San Chuan Group has cumulatively reduced its holdings by 2.184 million shares, realizing about 28.83 million yuan [1]. Group 2: Financial Performance - The company has experienced significant revenue fluctuations over the past three years, with revenues of 1.332 billion yuan, 2.285 billion yuan, and 1.473 billion yuan for 2022, 2023, and 2024 respectively [1]. - Net profits for the same years were 214 million yuan, 240 million yuan, and 63.77 million yuan, indicating a downward trend [1]. - For the first half of 2025, the company reported total revenue of 490 million yuan, a year-on-year decline of 33.49%, while net profit slightly increased by 0.54% to 44.92 million yuan [2]. Group 3: Business Segments - San Chuan Wisdom's main business segments are smart water management and rare earth resource recovery, with smart water meters being a core product [1]. - In 2024, revenue from water meters was 735 million yuan, accounting for 49.92% of total revenue, while in the first half of 2025, this increased to 4.02 billion yuan, making up 81.97% of revenue [2]. - The rare earth segment faced challenges due to price volatility and production shortfalls, with revenue from rare earth oxides dropping from 4.127 billion yuan (28.01% of total revenue) in 2024 to 41.71 million yuan (8.51% of total revenue) in the first half of 2025 [2]. Group 4: Market Sentiment - The impact of the reduction plan on market sentiment is notable, with historical data indicating an average stock price decline of 1.52% within five days and 7.91% within thirty days following similar announcements [3]. - As of September 9, the stock price of San Chuan Wisdom closed at 6.59 yuan per share, reflecting an 8.47% drop from the previous trading day [3].

三川智慧2025年半年度报告显示，2025年上半年，公司实现营业收入4.90亿元，同比下滑 33.49%；归属于上市公司股东的净利润4492.02万元，同比增长0.54%；归属于上市公司股东的扣除非 经常性损益的净利润2249.52万元，同比下滑32.92%；经营活动产生的现金流量净额为-6880.53万元。 中国经济网北京9月9日讯 三川智慧（300066.SZ）昨晚发布关于公司控股股东减持股份预披露公 告。 持有公司股份372,742,902股（占公司总股本的35.84%）的控股股东江西三川集团有限公司（以下 简称"三川集团"）拟以集中竞价和大宗交易方式减持公司股份不超过31,200,998股（即不超过本公司总 股本的3.00%）。其中以集中竞价方式减持的，计划在公告披露之日起15个交易日后的3个月内进行， 且任意连续90日内减持股份总数不超过公司总股本的1%；以大宗交易方式减持的，计划在公告披露之 日起15个交易日后的3个月内进行，且任意连续90日内减持股份总数不超过公司股份总数的2.00%。 以三川智慧9月8日收盘价7.20元计算，三川集团预计减持套现22464.72万元。 | | 本报告期 | 上年 ...

Core Viewpoint - San Chuan Wisdom (300066.SZ) experienced a decline of 8.33%, closing at 6.6 yuan, with a total market capitalization of 6.864 billion yuan due to the announcement of share reduction by its controlling shareholder, Jiangxi San Chuan Group Co., Ltd [1] Summary by Relevant Sections - **Share Reduction Plan** - The controlling shareholder plans to reduce its holdings by up to 31,200,998 shares, which represents no more than 3.00% of the company's total share capital [1] - **Reduction Methodology** - The reduction will occur through centralized bidding and block trading methods. For centralized bidding, the reduction can take place within three months after a 15 trading day period post-announcement, with a maximum of 1% of the total share capital being reduced within any consecutive 90-day period [1] - For block trading, similar timing applies, with a maximum reduction of 2.00% of the total shares within any consecutive 90-day period [1]

Group 1 - The controlling shareholder of San Chuan Wisdom, Jiangxi San Chuan Group Co., Ltd., plans to reduce its stake in the company by up to 31.21 million shares, which represents no more than 3.00% of the total share capital [1]

Group 1 - The controlling shareholder, Jiangxi Sanchuan Group Co., Ltd., plans to reduce its stake in Sanchuan Wisdom (300066.SZ) by up to 31.21 million shares, which represents no more than 3.00% of the company's total share capital [1]

（文章来源：证券日报） 证券日报网讯 9月8日晚间，三川智慧发布公告称，控股股东江西三川集团有限公司拟以集中竞价和大 宗交易方式减持本公司股份不超过31，200，998股（即不超过本公司总股本的3.00%）。减持方式包括 集中竞价和大宗交易，减持期间为2025年9月30日至2025年12月29日。 ...