Tuopu Group(SH:601689) Mei Ri Jing Ji Xin Wen·2025-09-17 16:44Core Viewpoint - The company Top Group (601689.SH) announced the early termination of its share reduction plan by its controlling shareholders, indicating a shift in strategy amidst changing financial needs [2][11]. Share Reduction Details - The controlling shareholder, Wu Jianshu, reduced approximately 2.9983 million shares at a price range of 62.81 to 73.03 CNY per share, totaling around 215 million CNY, with only 920 shares remaining to be sold [3][6]. - Wu Haonian, the vice chairman and son of Wu Jianshu, reduced 495,300 shares at a price range of 62.49 to 63.83 CNY per share, totaling approximately 31.12 million CNY, with 346 shares left unsold [3][6]. - The total shares reduced by both shareholders amounted to 349,360 shares, with only 1,266 shares left to be sold, marking the first reduction since the company's listing in 2015 [6][11]. Fundraising and Project Adjustments - The company plans to change the use of 400 million CNY of raised funds to invest in the Ningbo "Intelligent Manufacturing Industrial Park Project" [2][16]. - The board approved an extension of the timeline for the "Annual Production of 3.3 Million Lightweight Chassis Systems" project by 14 months, now expected to be operational by December 2026 [2][20]. Financial Performance - In the first half of the year, the company reported a revenue increase of 5.83% to 12.935 billion CNY, while net profit decreased by 13.84% to 1.457 billion CNY, indicating a situation of "increased revenue but decreased profit" [11][12]. - The company's performance in the robot business remains low, with revenue from electric drive systems contributing only 0.1% to total revenue [14].