突发，马云减持

Group 1 - The core point of the news is that Huayi Brothers announced a significant share reduction by its shareholder Alibaba Investment, which will stabilize the company's equity structure without adversely affecting its normal operations [1] - Alibaba Investment reduced its shareholding from 3.467799% to 2.403580%, while the combined shareholding of Alibaba Investment and its concerted party Jack Ma decreased from 6.064215% to 4.999996%, no longer qualifying as a major shareholder [1] Group 2 - Huayi Brothers reported a temporary liquidity tightness due to the impact of the economic situation, resulting in overdue debts totaling 52.5 million yuan, which exceeds 10% of the company's audited net assets for 2024 [3] - The company's controlling shareholder Wang Zhongjun's 15.392 million shares, accounting for 48.54% of his total holdings and 5.55% of the company's total share capital, are set for a second judicial auction [3] - As of December 17, 2025, Huayi Brothers' stock closed at 2.17 yuan per share, with a total market capitalization of approximately 6.021 billion yuan [3] Group 3 - The latest Q3 financial report indicates that Huayi Brothers achieved revenue of 62.5956 million yuan, a year-on-year decline of 31.61%, with a net loss attributable to shareholders of 39.462 million yuan [6] - For the first three quarters, the company reported revenue of 215 million yuan, down 46.08% year-on-year, and a net loss of 114 million yuan, with a basic earnings per share of -0.04 yuan [6]