绕道私募减持告吹！此前多次套现未遂反遭立案，惠伦晶体实控人梦碎

Core Viewpoint - The termination of the share transfer agreement between Huineng Crystal and Zhongzheng Qianyuan Jin Youyuan No. 1 Private Securities Investment Fund highlights the ongoing financial struggles of Huineng Crystal and raises concerns about the future of its actual controller, Zhao Jiqing [2][3][8]. Group 1: Share Transfer Agreement - Huineng Crystal's controlling shareholder, Xinjiang Huineng, and actual controller Zhao Jiqing decided to terminate a previously signed share transfer agreement involving 14.04 million shares, accounting for 5% of the company's total share capital [2]. - The planned share transfer included 9.79 million shares from the controlling shareholder (3.49%), 3.67 million shares from the actual controller (1.31%), and 290,000 shares from the directors (0.10%) [2]. - The private fund had already paid a total of 118 million yuan for the shares, which must be refunded by May 15, 2025, with specific amounts designated for each shareholder [4]. Group 2: Financial Performance and Losses - Huineng Crystal has accumulated losses exceeding 450 million yuan since its listing, with a record loss of 202 million yuan reported in 2024 [2][9]. - The company's revenue has significantly declined from over 400 million yuan annually before its IPO to around 300 million yuan, with net profits turning into substantial losses [9]. - The losses are attributed to poor recovery in the consumer electronics sector, intense market competition, and continuous declines in product sales prices, alongside significant asset impairments [9]. Group 3: Regulatory Issues - The termination of the share transfer agreement coincided with the announcement of an investigation by the China Securities Regulatory Commission (CSRC) into Huineng Crystal and Zhao Jiqing for suspected violations of information disclosure regulations [2][7]. - Following the announcement of the investigation, Huineng Crystal's stock price plummeted, experiencing declines of 20% and 10.31% over two consecutive days [7].