OMH(SZ:300486) 经济观察报·2025-08-28 14:11Core Viewpoint - The change of actual controller from state-owned to individual ownership marks a new chapter for Dongjie Intelligent, with expectations for revitalization and entry into the embodied intelligence sector under the leadership of Han Yongguang [2][4][10]. Group 1: Change of Control - Dongjie Intelligent announced that its actual controller will shift from the Zibo Municipal Finance Bureau to individual Han Yongguang, ending the "state-owned control" era [2]. - Han Yongguang has extensive experience in the robotics field, holding positions in several robotics companies, including as a director at Aobo Intelligent [2][10]. - The stock price of Dongjie Intelligent rose significantly from 12.43 CNY to 23.18 CNY, reflecting a market capitalization increase from approximately 5.67 billion CNY to about 10.57 billion CNY, an increase of about 86.5% [2]. Group 2: Financial Performance - Dongjie Intelligent's revenue has been declining over the past three years, with revenues of 1.14 billion CNY, 872 million CNY, and 807 million CNY for 2022 to 2024, and net profits of 39.71 million CNY, -243 million CNY, and -257 million CNY respectively [7]. - Prior to the change in control, the company reported a turnaround in performance for the first half of 2025, achieving a revenue of 539 million CNY, a year-on-year increase of 24.90%, and a net profit of 5.95 million CNY, a year-on-year increase of 113.96% [7]. Group 3: Strategic Direction - The new actual controller, Han Yongguang, aims to leverage his connections and expertise in collaborative robotics to enhance Dongjie Intelligent's existing logistics and warehousing solutions [10]. - The company plans to develop embodied intelligence solutions, integrating robotics technology to create comprehensive solutions for smart warehousing logistics [10]. - The transition is expected to provide new growth opportunities and broaden the company's business scope in high-end intelligent manufacturing [10]. Group 4: Market Context - The shift from state-owned to private control is seen as a strategic move to optimize resource allocation and enhance operational efficiency, as the previous state-owned structure did not effectively support business growth [8]. - The competitive landscape includes significant players such as Dematic, Sennheiser, and Noli, which poses challenges for Dongjie Intelligent [12]. - The company has faced performance pressures due to rapid technological changes and reliance on capital expenditures from downstream industries like new energy vehicles and chemicals [12].