A-Zenith(SH:603389) IPO日报·2025-06-13 10:05Core Viewpoint - The stock price of Yazhen Home Co., Ltd. (*ST Yazhen) has experienced a significant increase of 107.83% over a period of 26 trading days, leading to a suspension of trading due to abnormal fluctuations, despite the company's poor financial performance and ongoing losses [1][9]. Group 1: Company Overview - Yazhen Home was established in 1992 and is one of the earliest manufacturers and sellers of European-style furniture in China, focusing on mid-to-high-end products [3]. - The company went public on the Shanghai Stock Exchange in December 2016, benefiting from the rapid growth of the furniture industry in the early 2000s [3]. Group 2: Financial Performance - From 2018 to 2023, Yazhen Home's revenue has declined from 4.17 billion to 1.98 billion, with net profits showing significant losses, totaling nearly 500 million over the six years [4]. - The company faced a delisting risk warning in 2019 due to consecutive years of negative net profit, leading to a change in its stock name to *ST Yazhen [4][5]. - In 2024, the company reported total revenue of 2.02 billion and a net loss of 1.17 billion, with a non-recurring loss of 1.16 billion [5]. Group 3: Stock Price Movement - Following a change in the controlling shareholder, the stock price surged, with a notable increase of 48.61% from April 8 to April 17, and nearly 200% from April onwards [7][10]. - The stock experienced multiple trading anomalies, prompting a review by the company to protect investor interests [1][9]. Group 4: Shareholder Changes - On April 17, 2025, Yazhen Home announced a transfer of nearly 30% of its shares to Wu Tao and his associates, which could lead to a change in control of the company [7][8]. - The transfer price was set at 5.68 yuan per share, totaling approximately 448 million [7].