KAIRUIDE(SZ:002072) Shen Zhen Shang Bao·2026-02-11 03:19Core Viewpoint - The company, Kairuide, reported a significant decline in revenue and an increase in net loss for the year 2025, primarily due to a challenging domestic coal market and strategic business adjustments [1][3]. Financial Performance - The company achieved a revenue of 465 million CNY, a year-on-year decrease of 25.89% [1][2]. - The net profit attributable to shareholders was -22.18 million CNY, representing an 11-fold increase in losses compared to the previous year [1]. - The gross margin for coal trading decreased by 2.18% during the reporting period [1][2]. Business Operations - Kairuide operates mainly in the coal trading sector, utilizing both self-operated and agency models, with a focus on self-operated business [1]. - The company has adjusted its business strategy to control the scale of operations in response to market pressures [1]. Cash Flow and Legal Issues - The net cash flow from operating activities increased by 158.88% to 252,200 CNY, despite the net loss, due to timely collection of sales receivables [3]. - The company is facing multiple shareholder lawsuits related to past management's illegal activities, which may pose additional risks [3]. Regulatory Actions - Kairuide received an administrative penalty of 8 million CNY for failing to disclose certain external guarantees and significant litigation matters [3]. Shareholder Activity - The second-largest shareholder, Nonggu Group, plans to reduce its stake by up to 3% through market transactions starting December 21, 2025 [4]. - As of the report, Kairuide's stock price decreased by 2.65% to 7.70 CNY per share, with a total market capitalization of approximately 2.831 billion CNY [4][6].