Bloomage Biotech(SH:688363) Zheng Quan Shi Bao Wang·2024-11-04 02:36Core Viewpoint - The A-share market is experiencing a low level of restricted stock unlocks, with significant implications for companies like Huaxi Biological and Baotong Energy [1][2]. Summary by Sections Restricted Stock Unlocks - This week, 30 companies had restricted stocks unlocked, totaling 887 million shares with a market value of 26.032 billion yuan [1]. - Huaxi Biological (688363.SH) accounted for a significant portion, with 284 million shares unlocking, representing 58.86% of its total share capital and a market value of approximately 17.01 billion yuan [1][2]. - Four companies had unlocks exceeding 1 billion yuan, including Huaxi Biological, Baotong Energy (001376.SZ), Lei'ao Planning (300989.SZ), and Nasda (002180.SZ) [1]. Shareholder Actions - Guoshou Chengda plans to reduce its holdings in Huaxi Biological by up to 12.042 million shares, or 2.5% of total shares, aiming to raise around 700 million yuan [2]. - Following the announcement of the reduction plan, Huaxi Biological's stock price has declined by 25% [2]. Financial Performance - Huaxi Biological has seen a decline in both revenue and net profit since 2023, with a reported net profit of 593 million yuan in the previous year, down approximately 39% year-on-year [2]. - For the first three quarters of this year, the company reported revenue of 3.875 billion yuan, a decrease of 8.21%, and a net profit of 362 million yuan, down about 30% [2]. - The third quarter's net profit was the lowest since the company's listing, with figures of 243 million yuan, 98 million yuan, and 20 million yuan for the three quarters respectively [2]. Business Transformation - Huaxi Biological has initiated a transformation in its medical aesthetics business since 2021, which has reportedly entered a positive development phase by 2023 [4]. - The company's main business, functional skincare products, has seen a revenue drop from over 70% of total revenue in 2022 to around 60% in 2023, with a 29.74% decline in revenue for the first half of 2024 [4]. - The chairman indicated that the company is undergoing a phased adjustment across various aspects, including brand development and product structure, which may take time to show results [4]. Market Impact - The unlocking of shares from Baotong Energy, which has 169 million shares unlocking, is expected to impact its stock price significantly due to the involvement of 275 shareholders [5]. - Baotong Energy's stock price has dropped from a peak of 49.40 yuan to 15.98 yuan, although it still shows a 250% increase from its issue price of 4.56 yuan [5]. - The overall market for restricted stock unlocks includes various types, with a focus on original shareholders and equity incentive shares [6].