必得科技实控人方拟转让套现9亿 “去中车化”业绩反弹仍处低位

Core Viewpoint - The significant transfer of 29.90% equity by the actual controllers of Bidet Technology has attracted widespread attention, with the transaction valued at approximately 897 million yuan, indicating a strategic shift in ownership while maintaining control [1][2][3]. Equity Transfer Details - The actual controllers, Wang Jianqun and Liu Ying, along with their associates, plan to transfer a total of 56,167,200 shares, representing 29.90% of the company's total equity, at a price of 15.97 yuan per share, which is an 8.06% discount from the previous closing price of 17.37 yuan [1][3]. - After the transfer, the actual controllers will still hold 41.51% of the shares, ensuring that there is no change in control [1][3]. New Shareholder Information - The acquiring party, Dinglong Qishun Equity Investment Partnership, will become the second-largest shareholder with a 29.90% stake. The partnership is managed by Longding Investment, which focuses on investments in core technology sectors [4]. - Dinglong Qishun has committed to not transferring the acquired shares for 18 months [4]. Financial Performance Overview - Bidet Technology has experienced a decline in net profit for four consecutive years, but there are signs of recovery starting in 2024, with projected revenue and net profit growth [5][8]. - The company’s revenue fluctuated from 3.47 billion yuan in 2020 to 3.48 billion yuan in 2023, while net profit decreased from 1.04 billion yuan in 2019 to 0.31 billion yuan in 2023. However, a rebound is expected in 2024 with revenue projected at 4.83 billion yuan and net profit at 0.39 billion yuan [8]. Strategic Shift - The company has been moving away from its reliance on the "CRRC system," with revenue from this sector decreasing from 90.99% in 2020 to 39.80% in 2024, indicating a diversification strategy [7][8]. - Recent acquisitions in 2023 and 2024 are part of this strategy to reduce dependency on a concentrated customer base and expand into new markets [8].