公牛集团不牛市？2.5亿回购，老板16亿减持

Core Viewpoint - The recent stock buyback by Bull Group was followed by a significant share reduction plan from a major shareholder, leading to a sharp decline in the company's stock price and raising concerns about its growth prospects [1][3]. Group 1: Shareholder Actions - Bull Group's major shareholder, Xueping Ruan, announced a plan to reduce holdings by 36.17 million shares, amounting to approximately 1.6 billion yuan, which is 2% of the company's total shares [3][4]. - Xueping Ruan currently holds 14.13% of Bull Group's shares, while his brother, Liping Ruan, holds 16.13%, making them collectively control 84.76% of the company [4][5]. - This is not the first time Xueping Ruan has significantly reduced his holdings; he previously sold shares worth 1.626 billion yuan in July 2023 due to personal funding needs [5]. Group 2: Stock Performance and Market Reactions - Despite the overall bullish trend in the A-share market, Bull Group's stock has been on a downward trajectory, prompting investor concerns about the company's stability [1][6]. - The company recently completed a stock buyback of 2.5 billion yuan, purchasing 503.6 million shares at an average price of 49.68 yuan per share, yet the stock price continued to decline [7]. - Investors have expressed frustration, noting that the stock buyback did not stabilize the price, which fell from 51.22 yuan to 43.74 yuan during the buyback period [7]. Group 3: Company Performance and Growth Concerns - Bull Group's revenue and net profit both declined in the first half of the year, marking the first time in five years that the company experienced a dual decline, with revenue down 2.6% and net profit down 8% [12][13]. - The core business segments, including electrical connections and smart electrical lighting, saw revenue declines of 5.37% and 2.78%, respectively, while the new energy segment grew by 33.52%, but its revenue of 386 million yuan is insufficient to offset the declines in other areas [12][13]. - The company's growth momentum has halted, raising significant concerns among investors about its future performance [12][13].