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海能实业两股东因1.9亿元税款追缴案遭强制清仓 公司称不影响经营

Core Viewpoint - The forced disposal of shares held by major shareholders of Haineng Industrial (300787.SZ) is linked to a tax recovery case amounting to 190 million yuan, resulting in significant stock liquidation and raising concerns about the company's financial stability [1][2]. Tax Violations Leading to Forced Disposal - The share disposals stem from tax violations dating back five years, where shareholders Li Dongyi and Li Weixiong were found to have engaged in false tax declarations during a share distribution process [2]. - The tax authority confirmed the tax recovery amount of approximately 190 million yuan, including penalties, leading to the freezing of Li Dongyi's securities account valued at over 82 million yuan [2]. Shareholder Reduction Path - Prior to the forced execution, both shareholders had begun to liquidate their holdings, with Li Weixiong reducing his stake from 858.04 million shares (6.74% of total shares) to a total of 2.96 billion yuan through various sales [3]. - Recent records indicate that from June 19 to September 7, 2023, Li Weixiong sold 226.33 million shares for approximately 41.77 million yuan [3]. Company Performance and Financial Risks - Haineng Industrial reported a significant increase in revenue and net profit for the first half of 2025, with revenue reaching 1.505 billion yuan (up 60.48%) and net profit at 77.176 million yuan (up 131.96%) [4]. - However, the company's profitability has shown instability, with a decline in net profit of 40.45% in 2024 compared to the previous year, despite a revenue increase of 16.26% [4]. - The company's accounts receivable growth outpaced revenue growth, with accounts receivable increasing by 24.63% while revenue grew only by 16.26% [4]. Inventory and Cost Concerns - Haineng Industrial's inventory growth significantly exceeded that of its operating costs, with inventory rising by 98.28% in 2024 compared to a 19.26% increase in operating costs [5]. - As of mid-2025, the company's inventory value reached 669 million yuan, reflecting a year-on-year increase of 112.92% [5]. Market Performance and Institutional Holdings - As of the latest report, Haineng Industrial's stock price increased by 1.01% to 13.95 yuan per share, with a total market capitalization of 4.372 billion yuan [6]. - The number of shareholders decreased by 16.75% to 16,000, while the average circulating shares per person increased by 20.12% [6]. - Institutional holdings include new shareholders such as the招商量化精选股票发起式A, which holds 2.1272 million shares [6]. Company Overview - Haineng Industrial, established in July 2009 and listed in August 2019, specializes in the customized design and production of electronic signal transmission products and other consumer electronics, with 93.41% of its revenue derived from electronic products [6].