百亿旭升集团拟易主，谁来接盘？

Core Viewpoint - The announcement by Xusheng Group regarding the potential transfer of shares by its controlling shareholder may lead to a change in company control, with stock suspension expected for up to two trading days starting December 19, 2025 [1] Company Overview - Xusheng Group, established in 2003 and listed on the Shanghai Stock Exchange in 2017, specializes in the research, production, and sales of precision aluminum alloy components, providing lightweight solutions [1] - The company has three main business divisions: die casting, forging, and extrusion, with R&D centers and manufacturing bases located in Asia, Europe, and America [1] - Xusheng Group is a primary supplier for Tesla and has expanded partnerships with Rivian, Lucid, Volkswagen, Li Auto, NIO, and Xpeng [1] Shareholding Structure - The controlling power of Xusheng Group is held firmly by the Xu family, with Xu Xudong directly owning 11.84% of the company, while his controlled entities, Xusheng Holdings and Xuri Industrial, hold 26.03% and 19.60% respectively, totaling a combined control of 57.47% [1] Recent Developments - This is not the first time Xusheng Group has planned a change in control; a similar attempt was made in October 2022, which was abruptly terminated due to failure to reach an agreement on core terms [2] - The company's two attempts at control change may be linked to ongoing performance pressures, as evidenced by a decline in revenue and net profit in recent financial reports [2] Financial Performance - For the first three quarters of 2025, Xusheng Group reported revenue of 3.226 billion yuan, a year-on-year decrease of 1.48%, and a net profit attributable to shareholders of 300 million yuan, down 7.16% [2] - In 2024, the company experienced declines in both revenue and net profit, with revenue of 4.409 billion yuan, down 8.79%, and net profit of 416 million yuan, down 41.71% [2] - The financial performance trend shows a consistent decline, with 2023 figures at 4.834 billion yuan in revenue and 714 million yuan in net profit, compared to 4.454 billion yuan and 701 million yuan in 2022 [2]