KDL(SZ:002850) Sou Hu Cai Jing·2025-07-04 08:47Core Viewpoint - The major shareholder of KedaLi, Yunnan Daye Shengde, plans to completely divest its holdings in the company, which may raise concerns about the company's future prospects among investors [1][3][4]. Shareholder Reduction - Yunnan Daye Shengde intends to reduce its stake by selling up to 3.82 million shares, representing 1.3985% of KedaLi's total share capital, from July 23, 2025, to October 22, 2025 [1][3]. - After the planned reduction, Yunnan Daye Shengde will have divested all its shares, which were valued at approximately 433 million yuan based on KedaLi's closing price of 113.17 yuan per share on June 30 [3][12]. Historical Context - Yunnan Daye Shengde was previously the fourth-largest shareholder of KedaLi in 2020, holding a 3.53% stake, and has been reducing its holdings multiple times since then [3][4]. - The controlling shareholders, Li Jili and Li Jianju, are related and have collectively reduced their stake from 45.19% at the end of 2020 to 37.65% by the end of 2024, realizing approximately 336 million yuan from share sales during this period [11]. Company Background - KedaLi, founded in 1996 and listed on the Shenzhen Stock Exchange in 2017, specializes in the research and manufacturing of precision structural components for lithium batteries and automotive applications [4][5]. - The company has benefited from the rapid growth of the new energy vehicle and lithium battery industries, leading to continuous expansion and significant financing activities, totaling 7.749 billion yuan since its IPO [5][6]. Financial Performance - KedaLi has conducted four rounds of financing since its IPO, with the most recent being a private placement that raised 3.51 billion yuan in August 2023 [5][6]. - The company has distributed a total of 1.069 billion yuan in dividends from 2021 to 2024, with the controlling shareholders receiving approximately 400 million yuan based on their ownership percentage [11].