Core Viewpoint - The company, DuKe Culture, is undergoing a potential change in control as notified by its major shareholders, which may be linked to its declining financial performance [1] Financial Performance - The company's revenue has been on a downward trend since its IPO in 2021, with revenues of 5.19 billion yuan in 2021, dropping to 5.13 billion yuan in 2022, 4.34 billion yuan in 2023, and projected at 4.06 billion yuan in 2024, reflecting year-on-year declines of 1.04%, 15.49%, and 6.61% respectively [2] - Net profit has also deteriorated significantly, with a decrease of 7.34% in 2022 to 62.32 million yuan, turning to a loss of 3.28 million yuan in 2023, and only a projected profit of 14.71 million yuan in 2024 [2] - In the first three quarters of the current year, the company reported revenue of 2.57 billion yuan, a year-on-year decline of 12.19%, and a net profit of only 6.52 million yuan, down 56.72% [2] - The company is facing cash flow issues, with a net cash flow from operating activities of -7.94 million yuan [2] Marketing and Expenses - To boost performance, the company has increased its marketing expenditures on platforms like Douyin, Xiaohongshu, and video accounts, resulting in a 24.10% rise in sales expenses to 37.73 million yuan, but these efforts have not yet translated into revenue growth [2] Shareholder Actions - Prior to the control change planning, the controlling shareholders have been reducing their stakes, with Ningbo DuKe announcing plans to reduce up to 11.2 million shares, representing no more than 2.80% of the total share capital [3] - By May, they had completed a reduction of 11.19 million shares, raising 1.03 billion yuan, and in November, they further reduced 4.11 million shares for 34.39 million yuan [3] - Cumulatively, related parties have cashed out over 200 million yuan, exceeding the total profits since the company's listing [3]
华楠、华杉兄弟拟出让控股权，读客文化成弃子？