一天17笔大宗交易，华熙生物二股东连续减持

Core Viewpoint - The recent share reduction by the state-owned shareholder of Huaxi Biological indicates ongoing challenges for the company, including internal personnel changes and declining performance in its core business segments [5][6]. Group 1: Shareholder Activity - On January 13, Huaxi Biological's stock price increased by 2.25% to 47.34 yuan, with significant trading activity including 17 block trades at an average price of 42.89 yuan, reflecting a 9.4% discount [1][2]. - The second-largest shareholder, Guoshou Chengda, has been executing a share reduction plan, having reduced its holdings from 6.01% to 5% after selling 485.25 million shares [3][4]. - Guoshou Chengda has been reducing its stake since November 2022, with plans to sell up to 963.35 million shares by February 2026, and has already cashed out approximately 2.1 billion yuan from previous sales [3][4]. Group 2: Financial Performance - Huaxi Biological's revenue has faced significant pressure, with a reported 11.6% decline to 5.371 billion yuan and a net profit drop of 72.27% to 164 million yuan [7]. - The company's skin science innovation business saw a 31.62% revenue decline to 2.569 billion yuan in 2024, attributed to intensified market competition [6][8]. - In the first three quarters of 2025, revenue fell by 18.36% to 3.163 billion yuan, with net profit decreasing by 30.29% to 252 million yuan, although the third quarter showed some improvement in net profit due to reduced sales expenses [8][9]. Group 3: Market Sentiment and Future Outlook - The ongoing share reductions by major shareholders and the company's declining performance suggest a critical juncture for Huaxi Biological, raising concerns about its future growth potential [5][6]. - Nomura Orient International Securities has issued a "reduce" rating for Huaxi Biological, setting a target price of no more than 34.7 yuan, predicting a net profit of 400 million yuan for 2025 [10].