Core Viewpoint - DeLi Co., a leading household glass manufacturer, is planning a change in control, which may lead to a shift in its major shareholder and actual controller, as announced on October 8 [1] Company Overview - DeLi Co. was founded in 1996 and specializes in the research and manufacturing of various glass products, including household glass, solar glass, packaging glass, optical glass, heat-resistant appliance glass, and crystal glass [1] - The company is recognized as the largest household glass factory in the Asia-Pacific region and a top manufacturer of glassware in China [1] Financial Performance - Despite achieving double-digit revenue growth annually, DeLi Co. has reported net losses for three consecutive years since 2022, with losses of 110 million yuan, 85.51 million yuan, and 173 million yuan respectively [2] - In the first half of 2025, the company reported revenue of 771 million yuan, a year-on-year decrease of 6%, and a net loss of 45.32 million yuan, a decline of 490.74% [2] - The company attributed its financial struggles to the suspension of production at its subsidiary in Bengbu to mitigate cash flow losses, which affected overall profitability [2] Recent Transactions - In July, DeLi Co. announced the sale of its 100% stake in Fengyang Derui Mining Co. for 135 million yuan to Fengyang Mining Investment Holdings Co. to focus on its core business and improve cash flow [2][3] - As of September 22, the company confirmed receipt of the transaction amount and completion of the necessary registration changes, indicating that Derui Mining would no longer be included in DeLi Co.'s consolidated financial statements [3]
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