每周股票复盘：桐昆股份（601233）股东户数下降28.96%，净利增53.83%

Core Viewpoint - Tongkun Co., Ltd. (桐昆股份) has experienced a decline in stock price and a significant change in shareholder structure, while showing a mixed performance in financial results for the third quarter of 2025 [1][2][3]. Shareholder Changes - As of September 30, 2025, the number of shareholders decreased to 50,100, down by 20,400 or 28.96% from June 30, 2025. The average number of shares held per shareholder increased from 34,100 to 48,000, with an average holding value of 719,800 yuan [2][5]. Financial Performance Highlights - For the first three quarters of 2025, the company reported a total revenue of 67.397 billion yuan, a year-on-year decrease of 11.38%. The net profit attributable to shareholders was 1.549 billion yuan, an increase of 53.83%. The net profit excluding non-recurring items was 1.303 billion yuan, up 58.07%. In the third quarter alone, revenue was 23.239 billion yuan, down 16.51%, while net profit surged to 452 million yuan, a staggering increase of 872.09% [3][5]. Company Announcements - On October 28, 2025, the company’s supervisory board decided to abolish the supervisory board and transfer its responsibilities to an audit committee under the board of directors, pending shareholder approval. Additionally, the board approved a plan to use up to 1 billion yuan of idle funds for government bond repurchase transactions, aimed at improving capital efficiency and increasing operational income without affecting normal operations [4][5].