000007：三季度净利不到3万，股价创六年新高

Core Viewpoint - The stock price of the A-share listed company, Quanxin Hao (000007.SZ), has surged to a new high, but a major shareholder, Junlin Partnership, plans to fully divest its 5% stake, raising concerns about the company's future performance amid declining profitability [2][3]. Group 1: Shareholder Actions - Junlin Partnership intends to reduce its holdings by selling up to 17.32 million shares, representing 5% of the total share capital, between December 29, 2025, and March 28, 2026, citing "personal funding needs" as the reason for the divestment [3]. - The timing of the divestment is notable, as Quanxin Hao's stock has increased by 34.5% since October 29, reaching a peak of 11.09 yuan, which contrasts sharply with the company's weak earnings [3][5]. - Junlin Partnership's managing partner, Zou Lin, is also the chairman of Quanxin Hao, indicating a close relationship between the company and its major shareholder [3][4]. Group 2: Financial Performance - For the first three quarters, Quanxin Hao reported a net profit of only 3.418 million yuan, with a mere 29,700 yuan in net profit for the third quarter, highlighting a significant decline in profitability [2][6]. - The company's revenue for the first three quarters was 300 million yuan, a year-on-year increase of 94.42%, but the net profit growth was only 7.62%, indicating a disparity between revenue growth and profitability [6]. - The operating costs surged by 112.79% to 266 million yuan, outpacing revenue growth and leading to a decrease in gross profit margin from 18.97% to 11.32% [6][7]. Group 3: Business Composition - Quanxin Hao's main business segments include property leasing and management, automotive sales and services, and trading of sterilization and daily products, with automotive sales being the primary revenue source [7]. - As of the third quarter, the automotive sales segment generated 171 million yuan, accounting for 88.54% of total revenue, while property leasing contributed only 20.43 million yuan, or 10.57% [7]. - The company's cash reserves have decreased from 105 million yuan at the beginning of the year to 88.09 million yuan, raising concerns about its financial stability and ability to improve operational performance [7].