Chang Jiang Shang Bao·2025-12-02 23:44Core Viewpoint - The company Bawei Storage (688525.SH) plans to reduce its stake in the affiliated company Lianyun Technology (688449.SH) to enhance asset liquidity and efficiency while also increasing its share buyback plan significantly [1][2][4]. Group 1: Stake Reduction in Lianyun Technology - Bawei Storage announced its intention to sell part or all of its shares in Lianyun Technology, which will be tradable starting December 1, 2025, with a maximum sale of 1% of the total share capital [2]. - The company holds 374.47 million shares of Lianyun Technology, representing 0.81% of its total shares, with a strategic placement price of 11.25 yuan per share [1][3]. - The current market value of Bawei Storage's stake in Lianyun Technology is approximately 1.7 billion yuan, resulting in a book profit of about 1.28 billion yuan [3]. Group 2: Share Buyback Plan - Bawei Storage has revised its share buyback plan, increasing the total amount from a range of 20 million to 40 million yuan to a new range of 80 million to 150 million yuan [4]. - The maximum buyback price has been adjusted from 97.9 yuan per share to 182.07 yuan per share, reflecting a significant increase in investor confidence [4][5]. - As of November 30, 2025, the company has repurchased 41,123 shares at an average price of 97.24 yuan per share, totaling approximately 39.99 million yuan [5]. Group 3: Financial Performance - Bawei Storage reported a record high in revenue and net profit for the third quarter of 2025, achieving 26.63 billion yuan in revenue, a year-on-year increase of 68.06%, and a net profit of 2.56 billion yuan, up 563.77% year-on-year [6]. - The company has experienced fluctuations in profitability, with a loss of 6.24 billion yuan in 2023, followed by a recovery in 2024 with a revenue of 66.95 billion yuan, marking an 86.46% increase [5][6]. - The company indicated that its operational performance continues to improve into the fourth quarter of 2025 [7].