TINAVI(SH:688277) Zhong Guo Jing Ji Wang·2025-05-21 03:41Core Viewpoint - Tianzhihang (688277.SH) announced a share reduction plan involving its major shareholders, the Advanced Manufacturing Fund and the Beijing-Tianjin-Hebei Industrial Collaborative Development Investment Fund, which will collectively reduce their holdings by up to 3% of the company's total shares [1][2][3] Group 1: Share Reduction Plan - The Advanced Manufacturing Fund plans to reduce its holdings by up to 2,263,342 shares (0.50% of total shares) through centralized bidding and up to 4,526,685 shares (1.00% of total shares) through block trading within three months after the announcement [1][2] - The Beijing-Tianjin-Hebei Fund has the same reduction plan as the Advanced Manufacturing Fund, with identical share limits [1][2] - Both funds are classified as concerted actors, holding 21,863,353 shares (4.83%) and 21,866,010 shares (4.83%) respectively, all of which are unrestricted circulating shares [2][3] Group 2: Financial Performance - Tianzhihang has reported continuous losses for five consecutive years, with a net profit attributable to shareholders of -1320.49 million in Q1 2025, compared to -1006.32 million in the same period last year [3] - The company's revenue for 2025 Q1 was 58.58 million, marking a year-on-year increase of 102.40% [3] - Historical revenue figures from 2020 to 2024 show fluctuations, with total revenues of 136 million, 156 million, 156 million, 210 million, and 179 million respectively, while net profits have consistently been negative [3] Group 3: Fundraising Activities - Tianzhihang went public on July 7, 2020, raising a total of 504.48 million, with a net amount of 448.30 million after deducting issuance costs [4] - The company planned to use the raised funds for various projects, including the development of orthopedic surgical robots and marketing system construction [4] - In 2023, Tianzhihang issued 29,545,091 shares at a price of 12.53 yuan per share, raising a total of approximately 370.20 million, with a net amount of 359.76 million after expenses [5][6]