亏了公司富了高管？康泰医学实控人、高管减持忙 业绩亏损分红率连年走高

Core Viewpoint - The stock market is experiencing a bullish trend, with the Shanghai Composite Index surpassing the 3700-point mark, while a notable increase in shareholding reduction announcements from major shareholders of listed companies, particularly in the biopharmaceutical sector, raises concerns about underlying company fundamentals [1]. Group 1: Shareholder Reduction Plans - Over 30 biopharmaceutical companies have announced shareholder reduction plans since August 1, with several companies reporting reductions of 3% or more in shareholding [1]. - Specific companies with significant reductions include: - Linuo Group: 840.73 thousand shares (3.61%) - Quanta Pharma: 1441.6 thousand shares (3.59%) - Shengmei: 509.45 thousand shares (3.04%) - Chenxin Pharmaceutical: 1358.26 thousand shares (3.95%) - Haoyuan Pharmaceutical: 636.3 thousand shares (3%) - Ailis: 1350 thousand shares (3%) - Kanghua Biology: 389.84 thousand shares (3%) - Mengke Pharmaceutical: 1966.82 thousand shares (39%) [2]. Group 2: Kangtai Medical's Performance and Actions - Kangtai Medical's executives and actual controllers have executed multiple share reductions in 2024, with a total of 238.9 thousand shares reduced [3]. - The company's stock price has plummeted from a peak of 307.03 yuan per share to 18.25 yuan, resulting in a market capitalization decline from over 123.3 billion yuan to 7.3 billion yuan, a decrease of nearly 80% [3]. - Kangtai Medical reported a significant revenue drop of 35.76% in 2024, with a net profit loss of 77.9 million yuan, marking the first annual loss since its IPO [3]. Group 3: Dividend Policy Amid Declining Performance - Despite the decline in performance, Kangtai Medical has increased its dividend payouts, distributing 50.22 million yuan in 2022 (25.6% of net profit), 120 million yuan in 2023 (72.72%), and 100.5 million yuan in 2024 despite a net loss [4]. - The top ten shareholders of Kangtai Medical include five executives, holding nearly 50% of the total shares, with the actual controller holding 46.84% [4]. Group 4: Market Implications - The concentration of executive shareholding and ongoing cash-out behavior reflects a lack of confidence in the company's future, potentially undermining market trust and affecting long-term corporate health [5]. - This situation highlights the need for vigilance regarding discrepancies between market sentiment and the fundamental performance of certain listed companies in the current bullish A-share market [5].