Annil (SZ:002875) Sou Hu Cai Jing·2025-06-03 12:01Core Viewpoint - After five consecutive years of losses and multiple failed cross-industry attempts, the founder of Anniel has decided to relinquish control of the company [1][4]. Group 1: Company Background and Performance - Anniel was founded in 1996 by Cao Zhang and Wang Jianqing, evolving into the first children's clothing stock in A-shares in China [3][4]. - The company experienced three years of growth post-IPO, with revenue increasing from 1.031 billion yuan in 2017 to 1.327 billion yuan in 2019, and net profits of 68.87 million yuan, 83.39 million yuan, and 42.12 million yuan during the same period [4]. - Since 2020, the company has faced a significant downturn, with revenue declining for five consecutive years, resulting in a cumulative loss of over 500 million yuan [5][6]. Group 2: Control Change and Shareholder Actions - The controlling shareholders, Cao Zhang and Wang Jianqing, are planning to transfer 13.03% of their shares to a third party, which will lead to a change in the company's control [4]. - As of the first quarter of 2025, the founders held a combined 27.4% of the company's shares [4]. Group 3: Investment Attempts and Market Reactions - Anniel has made several attempts at external investments and cross-industry acquisitions since 2022 to improve profitability, but these efforts have largely been unsuccessful [7][9]. - The company's stock price has experienced significant volatility, dropping from around 12 yuan in early 2020 to below 9 yuan in 2022, followed by a brief surge after announcing various investment plans [7][8]. Group 4: Regulatory Issues and Stock Manipulation - Anniel has faced penalties for inadequate information disclosure, particularly regarding its antiviral fabric project, which led to a warning from the China Securities Regulatory Commission [9][10]. - The company has also been involved in stock price manipulation cases, with a reported illegal gain of 140 million yuan from such activities [11].