Decai Decoration CO.(SH:605287) Qi Lu Wan Bao·2025-09-15 07:45Core Insights - The announcement from De Cai Decoration Co., Ltd. indicates a significant divestment by its second-largest shareholder, Qingdao Chengshi Private Fund Management Co., Ltd., which plans to transfer 5.43% of its shares for 141 million yuan [1][2] - The transfer price is set at 18.56 yuan per share, reflecting a notable decrease from the initial listing price of 31.56 yuan per share in 2021 [2] - Following this transfer, the Chengshi Fund intends to completely exit its investment by selling the remaining 3.46% of its shares within the next year [1] Company Performance - De Cai Decoration reported a net loss of 287 million yuan last year, with both revenue and net profit declining in the first half of this year [2] - The company's R&D expenses saw a significant reduction of 51.56% year-on-year [2] - New contracts signed in the first half of 2025 for "urban renewal" projects amounted to 703 million yuan, while "urban supporting" projects totaled 1.137 billion yuan, together accounting for 76.79% of the total new contracts [2] Market Context - The transfer of shares to the Shanghai private fund raises questions about investor confidence in the construction sector, especially given the previous failed investment attempt in Huayang International [2] - De Cai Decoration, as the first A-share listed construction company in Shandong, has faced stock price volatility since its peak of 55.00 yuan per share shortly after its listing [1]