德明利上半年业绩暴雷！实控人夫妇却急抛2.5%股份套现

Core Viewpoint - The company is undergoing a significant business transformation while facing challenges, including a planned share reduction by its controlling shareholders, which raises concerns about its future development prospects [2][3] Group 1: Shareholder Actions - The controlling shareholders, Li Hu and Tian Hua, plan to reduce their holdings by up to 5.7 million shares, representing 2.51% of the total share capital [2] - Li Hu directly holds 36.84% of the company's shares, while Tian Hua indirectly holds 0.39% through partnerships [2] - The reduction will occur within the next three months through centralized bidding and block trading, with Li Hu intending to reduce 2.41% and Tian Hua 0.10% [2] Group 2: Financial Performance - The company expects to achieve revenue of 3.8 to 4.2 billion yuan in the first half of 2025, reflecting a year-on-year growth of 74.63% to 93.01% [2] - For the second quarter, projected revenue is between 2.548 to 2.948 billion yuan, with a year-on-year increase exceeding 86.67% and a quarter-on-quarter increase of 103.51% [2] - Despite the revenue growth, the company anticipates a net profit loss of 80 to 120 million yuan, a year-on-year decline of 120.64% to 130.96% [2] Group 3: Reasons for Loss - The expected losses are attributed to three main factors: industry cycle fluctuations and structural adjustments in market demand, increased period expenses due to business expansion, and significant growth in R&D investments [2] - R&D expenses for the first half of the year are approximately 130 million yuan, marking a 50% increase year-on-year [2] - Share-based payment expenses related to equity incentives are about 24.9094 million yuan, which also impacted the current profits [2] Group 4: Future Outlook - The company emphasizes its commitment to enhancing R&D innovation and deepening business transformation to seize opportunities in the recovering storage chip industry [3] - With ongoing product structure optimization and improved cost control, the company's profitability is expected to gradually improve [3] - Market attention will be focused on the company's performance in the second half of the year and the implementation of the controlling shareholders' reduction plan [3]