Keeson(SH:603610) Mei Ri Jing Ji Xin Wen·2025-11-25 10:06Core Viewpoint - The recent share reduction by the major shareholders and executives of Qisheng Technology has raised over 150 million yuan, despite a significant decline in net profit in Q3 2025. The company's stock price has shown strong performance, with a maximum increase of 75% within the year, attributed partly to share buybacks and strategic timing of the share reductions [2][3][7]. Share Reduction Details - Qisheng Technology's major shareholder, Zhihai Investment, reduced its holdings by 4.922 million shares (1.39% of total shares) between November 7 and November 21, 2025, at prices ranging from 18.36 to 19.56 yuan, totaling approximately 93.58 million yuan [3]. - The actual controller and chairman, Tang Guohai, sold 3.45 million shares (0.98% of total shares) during the same period, with a total cash amount of about 62.81 million yuan at prices between 17.83 and 18.55 yuan [3][5]. - After the reductions, Zhihai Investment and Tang Guohai held 22.30% and 16.53% of the shares, respectively [3]. Executive Share Reduction - Qisheng Technology's executives also completed their share reduction plans, with a total cash amount exceeding 5.7 million yuan. Vice President Chen Genlei sold 311,000 shares (0.09% of total shares) at prices between 18.20 and 18.50 yuan, totaling approximately 572,040 yuan [5]. Financial Performance - In Q3 2025, Qisheng Technology reported a revenue of 764 million yuan, a year-on-year increase of 0.10%, but a net profit of 41.33 million yuan, representing a decline of 37.41% [6]. - The decrease in net profit was attributed to reduced investment income and increased support for overseas clients, although specific details were not provided [6]. Stock Price Performance - The timing of the share reductions was noted as "clever," as the stock price reached a yearly high of 19.51 yuan on October 9, 2025, just before the announcement of the reduction plans [7]. - Following the release of the Q3 financial report on October 25, the stock price did not experience a significant drop and instead saw a new round of increases, peaking at 21.91 yuan on November 14, 2025 [7]. - As of November 25, 2025, the closing price was 19.02 yuan, with an annual increase of over 50% [9]. Share Buyback Impact - Qisheng Technology's strong stock performance was also supported by a significant share buyback, with 5.4976 million shares (1.53% of total shares) being canceled on June 27, 2025 [9].