易华录拟转让子公司股权回血5亿解压 资产减值拖累两年亏逾47亿负债率89%

Core Viewpoint - The company 易华录 (300212.SZ) is transferring 31.77% of its subsidiary 国富瑞数据系统有限公司 to 中电科投资控股有限公司 for 500 million yuan to alleviate financial pressure and enhance liquidity while maintaining control over the subsidiary [1][4][5]. Financial Performance - As of the end of Q1 this year, the company's debt-to-asset ratio reached 89.02%, the highest in its history, indicating significant financial pressure [2][5]. - The company reported a total loss of 47.55 billion yuan for 2023 and 2024, with a net loss of 1.20 billion yuan in Q1 this year, although this represented a significant reduction in losses compared to previous periods [2][9]. - The operating revenue for Q1 this year was 2.04 billion yuan, reflecting a year-on-year increase of 5.22%, while the net profit attributable to shareholders showed a 35.51% improvement in loss reduction [9]. Capital Operation - The transfer of 国富瑞's shares is part of a strategy to optimize the subsidiary's equity structure and improve asset liquidity, with the proceeds from the transaction expected to support the company's operational development [1][5]. - After the transfer, 易华录 will still control 国富瑞 through agreements that allow it to maintain 51% of the voting rights, ensuring that the subsidiary remains a core part of its business [4][5]. Historical Context - Since its listing in 2011, the company has faced fluctuating performance, with a significant decline in revenue and net profit since 2021, leading to four consecutive years of losses totaling 52.01 billion yuan [7][8]. - The company has been undergoing a strategic transformation since 2015, focusing on data lake development and related sectors, which has contributed to its current financial challenges [7].