Huaqin Technology (SH:603296) Zhong Guo Jing Ji Wang·2025-09-19 11:49Core Viewpoint - The early termination of the share reduction plan by major shareholders of Huqin Technology indicates a shift in their financial strategies and may impact the company's stock performance and investor sentiment [1][2][3]. Share Reduction Plan - Huqin Technology disclosed that major shareholders planned to reduce their holdings by up to 40,630,183 shares, representing 4.00% of the total share capital [1]. - The shareholders involved include Hainan Qinyuan, Hainan Chuangjian, Hainan Ruosheng, Hainan Huaxiao, and Hainan Mozhi, all of which are employee shareholding platforms [3]. Share Reduction Results - From August 28 to September 17, 2025, Hainan Qinyuan reduced its holdings by 8,753,915 shares (0.86% of total shares), Hainan Chuangjian by 7,218,348 shares (0.71%), Hainan Ruosheng by 8,016,400 shares (0.79%), Hainan Huaxiao by 6,622,420 shares (0.65%), and Hainan Mozhi by 8,344,781 shares (0.82%) [2]. - The total amount reduced by these shareholders was approximately 3.578 billion yuan [3]. Financial Performance - For the first half of 2025, Huqin Technology reported revenue of 83.939 billion yuan, a year-on-year increase of 113.06%, and a net profit attributable to shareholders of 1.889 billion yuan, up 46.30% [5]. - The net cash flow from operating activities was -1.522 billion yuan, compared to 1.041 billion yuan in the same period last year [5]. Debt and Financial Position - As of June 30, 2025, Huqin Technology had monetary funds of 16.553 billion yuan and total interest-bearing liabilities of 19.337 billion yuan [6][7]. - The company has short-term loans of 14.230 billion yuan and long-term loans of 4.424 billion yuan [6]. International Expansion Plans - Huqin Technology plans to issue overseas listed shares (H-shares) and list on the Hong Kong Stock Exchange to enhance its international strategy and financing capabilities [4]. - The issuance is subject to approval from relevant regulatory bodies and the company is in discussions with intermediaries regarding the issuance details [4].