BLB(SZ:002286) Xi Niu Cai Jing·2025-06-04 07:56Group 1 - The major shareholder, Ningbo Baoputong Asset Management Center, plans to reduce its stake in Baolingbao by up to 11.093 million shares, accounting for 3% of the company's total share capital, starting from June 24, 2025 [2] - Baolingbao reported a strong performance in Q1 2025, with revenue increasing by 24.23% year-on-year and net profit soaring by 117.35%, but the net cash flow from operating activities remained negative at -0.16 billion, worsening compared to the previous year [4] - Following the announcement, Baolingbao's stock price experienced a significant drop, reaching a near 10% decline, indicating investor caution regarding the share reduction [4] Group 2 - Baoputong has previously reduced its holdings in Baolingbao, having sold over 14.21 million shares since 2020, realizing approximately 289 million in cash [4] - If the current reduction is completed, Baoputong's shareholding will decrease to 7.31%, but it will still remain the largest shareholder of the company [4] - Analysts suggest that the continuous reduction by the major shareholder may signal a cautious outlook on the industry or the company's valuation, especially amid increasing competition in the functional food raw materials sector [4] Group 3 - Baolingbao emphasized that Baoputong is not a controlling shareholder and that the reduction is a normal market behavior, which will not significantly impact the company's governance or ongoing operations [4] - However, given Baolingbao's cash flow situation and the history of shareholder reductions, market sentiment may remain under pressure in the short term [4] - Future attention should be directed towards the actual execution of the reduction plan and whether Baolingbao can improve its cash flow performance while maintaining high growth in earnings to restore investor confidence [4]