Leaderdrive(688017) 长江商报· Chang Jiang Shang Bao·2025-05-27 06:46Core Viewpoint - The actual controllers of Greentech Harmonic (688017.SH) have announced a share reduction plan for the first time since the company's IPO in August 2020, indicating potential shifts in shareholder confidence and market dynamics [1][2]. Shareholder Actions - The controlling shareholders, Zuo Jing and Zuo Yuyu, plan to reduce their holdings by up to 2.74 million shares, representing a maximum of 3% of the total shares [1]. - The reduction will occur through a combination of centralized bidding (up to 1%) and block trading (up to 2%) [1]. - Currently, the two brothers hold a combined total of 68.91 million shares, accounting for 37.6% of the company's total equity [1]. Financial Performance - In 2024, Greentech Harmonic reported revenue of 387 million yuan, an increase of 8.77% year-on-year, while net profit decreased by 33.26% to 56.17 million yuan, marking three consecutive years of declining profits [2]. - The decline in net profit is attributed to reduced cash management income, lower fiscal subsidies, and increased expenses related to new product development and overseas market expansion [2]. - The company's core product, harmonic reducers, generated revenue of 325 million yuan in 2024, reflecting a year-on-year growth of 2.56% [3]. Profitability Trends - The overall gross margin for Greentech Harmonic has been declining, with rates of 48.69%, 41.14%, and 37.54% from 2022 to 2024, respectively [4]. - In the first quarter of 2025, the company achieved revenue of 98.03 million yuan, a year-on-year increase of 19.65%, with net profit slightly increasing by 0.66% to 20.25 million yuan [4].