减持3158万股，汤姆猫前董事长退出大股东行列

Core Viewpoint - The announcement of shareholder Wang Jian's reduction of his stake in Tom Cat (汤姆猫) indicates a significant shift in ownership dynamics, as he will no longer be a major shareholder with over 5% ownership, raising concerns about the company's financial health and governance [2][5]. Group 1: Shareholder Actions - Wang Jian plans to reduce his holdings by 31.58 million shares from May 26, 2025, to September 19, 2025, which constitutes 0.90% of the company's total share capital [2]. - As of the announcement date, Wang Jian holds 175,790,546 shares, representing 4.99999997% of the total share capital, thus exiting the major shareholder category [2]. - Wang Jian has previously engaged in the release of pledged and judicially frozen shares, with approximately 1.4577 million shares released from pledge and judicial freeze [2]. Group 2: Company Performance - Tom Cat's financial performance has deteriorated significantly, with a reported revenue of 463 million yuan for the first half of 2025, a year-on-year decrease of 19.62% [5]. - The company recorded a net loss of 30.33 million yuan in the first half of 2025, compared to a net profit of 73.36 million yuan in the same period last year [5]. - The second quarter of 2025 saw a revenue of 216 million yuan, down 22.35% year-on-year, with a net loss of 33.27 million yuan compared to a profit of 11.24 million yuan in the previous year [5]. Group 3: Financial Risks - Tom Cat has significant financial risks, including providing substantial debt guarantees for subsidiaries, totaling 1.713 billion yuan, which is 68.69% of the company's latest audited net assets [6]. - The core business revenue is declining, with game publishing revenue dropping to 49.5 million yuan, a year-on-year decrease of 16.8% [7]. - The company's first major shareholder, Zhu Zhigang, also has a high percentage of pledged shares, exceeding 97.6%, indicating potential liquidity issues [7].