Keeson(SH:603610) Mei Ri Jing Ji Xin Wen·2025-11-25 10:29Core Viewpoint - Qisheng Technology's major shareholders and executives have completed their share reduction plans, cashing out over 160 million yuan, while the company's stock price has shown strong performance with a maximum increase of 75% within the year [1][6]. Share Reduction Details - The controlling shareholder, Zhihai Investment, reduced its holdings by 4.922 million shares (1.39% of total shares) through block trading, while the actual controller and chairman, Tang Guohai, sold 3.45 million shares (0.98% of total shares) via centralized bidding [1][2]. - The total cash raised from these reductions amounted to approximately 153.6 million yuan, with Zhihai Investment's share price range being 18.36 to 19.56 yuan and Tang Guohai's range being 17.83 to 18.55 yuan [2][4]. Executive Share Reduction - Qisheng Technology's executives also completed their share reduction, raising over 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 [4][5]. Financial Performance - In Q3 2025, Qisheng Technology reported a significant decline in net profit, down 37.41% year-on-year to 41.33 million yuan, despite a slight revenue increase of 0.10% to 764 million yuan [5][6]. - The decrease in net profit was attributed to reduced investment income and increased support for overseas customers [5]. Stock Price Performance - The timing of the share reductions was strategic, occurring after the stock price reached a yearly high of 19.51 yuan on October 9, 2025. Following the release of the Q3 report on October 25, the stock price did not decline significantly and instead saw a new round of increases, peaking at 21.91 yuan on November 14 [6][7]. - As of November 25, 2025, Qisheng Technology's stock closed at 19.02 yuan, maintaining an annual increase of over 50% [7]. Company Overview - Qisheng Technology is one of the earliest companies in China engaged in the research, design, production, and sales of smart electric beds, with over 90% of its revenue coming from overseas [4]. - The company operates under two main models: ODM, where it provides self-designed samples for clients, and its own brand model, primarily selling products under the "Shufu De" brand, which includes smart electric beds and mattresses [4].