业绩连续四年下滑，电魂网络董事长减持1亿

Core Viewpoint - The recent share reduction by the chairman and other executives of Dianhun Network indicates a potential cash-out during a low stock price period, amidst declining financial performance and product revenue [1][3]. Group 1: Share Reduction - Chairman and General Manager Hu Jianping reduced his holdings by 4.8692 million shares, accounting for 2% of the total shares, with a total value of approximately 101 million yuan [1]. - Other executives, including board member Yu Xiaoliang and financial director Wu Xiaojun, also plan to reduce their holdings, with proposed reductions of up to 391.81 thousand shares, 22.5 thousand shares, and 25 thousand shares respectively [1]. Group 2: Financial Performance - Dianhun Network's revenue from 2021 to 2024 showed a decline from 996 million yuan to 550 million yuan, with net profit dropping from 339 million yuan to 30.58 million yuan [3]. - In the first half of 2025, the company reported a revenue of 194 million yuan, a year-on-year decrease of 28.69%, and a net loss of 9.34 million yuan, marking the first loss since its listing [3]. Group 3: Product Performance - The main product, the "Dream Three Kingdoms" series, has seen a decline in revenue, with figures dropping from 508 million yuan in 2022 to 359 million yuan in 2024 [4]. - Monthly active users for "Dream Three Kingdoms" fell to 566,400 in 2024, a decrease of 3.9%, while monthly paying users dropped by 26.15% to 64,200 [4]. Group 4: Future Outlook - The company emphasizes the need to adapt to gaming trends and player preferences to avoid further revenue declines [5]. - Dianhun Network is focusing on enhancing its self-research capabilities and has several new products in the pipeline, including "Barbarian Battle 2" and "Encountering Dragon 2" [5].