Aokanginternational(SH:603001) Mei Ri Jing Ji Xin Wen·2025-09-16 01:19Core Viewpoint - Aokang International, known as the "first stock of men's shoes," has announced significant share reductions by its major shareholder, Xiang Jinyu, who has reduced his holdings by 2.84% of the total share capital, raising at least 93.53 million yuan. Despite a recent stock price surge, the company has reported losses for three consecutive years and continues to face financial difficulties in 2025 [1][2][7]. Shareholder Reduction - As of September 12, 2025, Xiang Jinyu's shareholding has decreased to 7.14%, remaining the third-largest shareholder [2][6]. - The share reduction plan was disclosed in August 2025, coinciding with a peak in Aokang's stock price, which reached 10.26 yuan, nearly doubling from its low of 3.46 yuan in February 2024 [2][6]. - Between September 2 and September 4, 2025, Xiang Jinyu sold 4 million shares at a minimum cash value of 33.52 million yuan [2][4]. Financial Performance - Aokang International has reported net losses of 374 million yuan in 2022, 93.28 million yuan in 2023, and 216 million yuan in 2024. The company also recorded a net loss of 92.04 million yuan in the first half of 2025, a 364.28% year-on-year decline [7][12]. - The company's revenue for the first half of 2025 was 1.081 billion yuan, down 21.39% year-on-year, attributed to macroeconomic downturns and increased competition [7][12]. Share Pledge Situation - The actual controller of Aokang, Wang Zhentao, has pledged 99% of his directly held shares, while the controlling shareholder, Aokang Investment, has pledged 80.60% of its shares [10][12]. - Despite the financial struggles, Aokang has distributed over 100 million yuan in dividends in 2024, indicating some liquidity [12].