GRIAM(SH:600206) Ge Long Hui·2025-06-25 04:43Core Viewpoint - The company has announced significant strategic moves, including the introduction of a strategic investor and the divestment of its lithium sulfide business, which has led to mixed market reactions, including a decline in stock price despite the perceived benefits of the investment [1][10]. Group 1: Strategic Investment - The company’s wholly-owned subsidiary, Youyan Yijin, will introduce a strategic investor, with the National Integrated Circuit Industry Investment Fund II investing 300 million yuan for a 5.67% stake based on a net asset valuation of 4.994 billion yuan [2][4]. - Following this investment, the company's ownership in Youyan Yijin will decrease from 100% to 94.33%, while still maintaining control [4]. Group 2: Divestment of Lithium Sulfide Business - The company plans to divest its lithium sulfide business through a public listing, with a minimum price of 109.5 million yuan for the related assets, including patents and proprietary technologies [4][8]. - The decision to divest is based on the assessment that the lithium sulfide business does not align with the company's main responsibilities and strategic direction, as well as challenges related to large-scale production and market uncertainty [8][10]. Group 3: Financial Performance - In 2023, the company reported a revenue of 10.822 billion yuan, a decrease of 29.05% year-on-year, and a net profit of 226 million yuan, down 16.14% [12]. - The company anticipates continued revenue decline in 2024, projecting a revenue of 9.146 billion yuan, a year-on-year decrease of 15.49%, and a net profit of 148 million yuan, down 34.78% [12][14]. - However, in Q1 2025, the company experienced a significant turnaround with a revenue of 1.84 billion yuan, a decrease of 18.67%, but a net profit surge of 67.4 million yuan, an increase of 14,698.12% [14][15].