AVIT(SZ:300264) 经济观察报·2025-08-04 13:25Core Viewpoint - The recent developments regarding the shareholding of Jiachuan Vision indicate a potential change in control, as the actual controller Chen Kunjian plans to transfer his shares, which may lead to a shift in the company's governance structure [2][7]. Group 1: Shareholding Changes - In April, Jiachuan Vision announced a private placement to raise up to 140 million yuan, aimed at consolidating Chen Kunjian's control over the company [2][4]. - On August 3, Jiachuan Vision disclosed that Chen Kunjian is planning to transfer his shares, which could result in a change of the controlling shareholder [2][6]. - If the transfer of control is completed, the previously planned private placement will be terminated [7]. Group 2: Financial Performance - Jiachuan Vision has faced continuous financial losses, with net profits declining for six consecutive years since 2019 and a non-recurring net profit loss for eight years since 2017 [9][10]. - The company's revenue for 2024 was reported at 149 million yuan, a year-on-year increase of 14.16%, but it still incurred a net loss of 58.05 million yuan [11]. - The primary reasons for the losses include declining gross margins in traditional business, decreased revenue from emerging businesses, high R&D costs, and significant asset impairment losses [12]. Group 3: Industry Context - Jiachuan Vision operates primarily in the broadcasting industry, which has become increasingly competitive, impacting the company's profitability [10]. - The broadcasting sector accounted for 96.7% of the company's total revenue in 2024, highlighting its reliance on this market [11].