“男裤龙头”，多名股东套现3亿元！

Core Viewpoint - The recent share reduction by Jiumuwang (601566.SH) indicates a significant capital operation, with a total of 21.8 million shares reduced, accounting for 3.79% of the total share capital, while the stock price increased during the same period, reflecting strong market confidence in the company's strategic transformation [1][3]. Group 1: Share Reduction Details - Multiple shareholders of Jiumuwang reduced their holdings from December 11 to December 12, 2025, with a total reduction of 21.8 million shares, representing 3.79% of the total share capital [1]. - Ruizhi Investment and its concerted actions reduced their shares by 11.6 million, decreasing their holding from 7.36% to 5.35% [1]. - Shunmao Investment and its concerted actions reduced their shares by 5 million, decreasing their holding from 6.12% to 5.25% [1]. - Bolui Investment and its concerted actions reduced their shares by 5.2 million, decreasing their holding from 6.15% to 5.25% [1]. Group 2: Market Reaction and Strategic Focus - Despite the large-scale share reduction, the stock price rose from 14.41 yuan to 15.03 yuan, marking a 4% increase, with a peak trading volume of 1.266 billion yuan on December 12 [1][3]. - The market's focus appears to be on the company's strategic shift, particularly its exit from non-core investments, such as the sale of the Italian high-end fashion brand MooRER, signaling a commitment to its main business of men's trousers [3]. - Jiumuwang's revenue growth has slowed, with a 4.13% increase in 2024 and a 6.02% decline in the first three quarters of 2025, indicating operational pressures [3][4]. Group 3: Financial Performance Insights - The company's net profit attributable to shareholders increased by 129.63% to 310 million yuan in the first three quarters of 2025, primarily driven by other operating income [3]. - The fair value change income and asset disposal income contributed significantly to the net profit, accounting for 60% of the total [3]. - Inventory levels rose by 15.06% to 981 million yuan, with inventory turnover days increasing by 40 days to 368 days, indicating potential operational challenges [4].