HBMC(SZ:300027) Sou Hu Cai Jing·2025-12-18 11:45Core Insights - Alibaba's investment arm, Alibaba Venture Capital, has reduced its stake in Huayi Brothers by 29.52 million shares, representing 1.064219% of the total share capital, decreasing its ownership from 3.467799% to 2.403580% [1] - The combined stake of Alibaba Venture Capital and its concerted party, Jack Ma, has dropped from 6.064215% to 4.999996%, totaling 139 million shares, thus no longer being a shareholder with over 5% ownership [1] - The reduction in stake is seen as beneficial for the stability of the company's equity structure and is not expected to adversely affect its normal operations [1] Financial Performance - Huayi Brothers reported a revenue of 215 million yuan for the first three quarters of 2025, a significant decrease of 46.08% year-on-year [2] - The company incurred a net loss attributable to shareholders of 114 million yuan, compared to a loss of 42 million yuan in the same period last year [2] Debt Situation - As of December 10, 2025, Huayi Brothers has overdue debts totaling 52.5 million yuan, which exceeds 10% of the company's audited net assets for 2024 [1] - The overdue debts include various amounts owed to Hangzhou Bank, with the largest being 20 million yuan due on October 21, 2025, and additional smaller amounts due in late October and November [2]