炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 出品：新浪财经上市公司研究院 作者：IPO再融资组/郑权 近日，星宸科技发布筹划发行H股并在香港上市的公告，令这家上市仅一年多的企业备受关注。 2024年3月，星宸科技在创业板IPO，募资6.8亿元。截至2025年一季度末，星宸科技账面上的广义货币资金高达14.78亿元，还拟使用不超过 1.55亿元的闲置资金进行现金管理，购买理财产品。在看似"不差钱"的情况下，星宸科技为何在上市16个月后就要去港股募资？ 2024年6月，星宸科技刚上市3个月就进行了现金分红，但公司2023年盈利大降60%。上市一年多，星宸科技合计分红1.26亿元，值得一提的 是，星宸科技在申报A股IPO前夕进行了突击巨额分红，广受市场质疑。 在宣布赴港上市前，星宸科技有两位持股5%以上的大股东轮番减持，这两位大股东的股票刚过禁售期就巨额套现，是否不看好星宸科技未 来发展？其中，一大股东已完成减持合计套现3.8亿元，且持股比例精准降至5%以下；另一大股东巨额减持正在进行中，如果按计划完成减 持持股比例也将降至5%以下。颇值一提的是，减持股票的一位大股东，与星宸科技曾经的 ...

Core Viewpoint - Zhuhai Gree (688772.SH) announced the results of its shareholder reduction plan, where employee shareholding entities reduced their holdings by a total of 22,551,363 shares, accounting for 1.99% of the company's total share capital [1][3][4] Shareholder Reduction Details - Before the reduction, employee shareholding entities held a total of 138,869,365 shares, representing 12.32% of the total share capital [1] - The reduction was executed through centralized bidding and block trading, with a total reduction amounting to 311,952,460.86 yuan [3][5] - The reduction period was from May 13, 2025, to June 26, 2025, with a reduction price range of 13.60 to 14.35 yuan per share [5] Current Shareholding Status - After the reduction, the current shareholding of the employee shareholding entities stands at 317,256,888 shares, which is 28.02% of the total share capital [3][5] - The controlling shareholder Xu Yanming and the major shareholder Prida did not participate in this reduction [4] Fundraising and Financial Information - Zhuhai Gree's initial public offering raised a total of 2.247 billion yuan, with a net amount of 2.104 billion yuan after deducting issuance costs [6] - The company aimed to raise 3.249 billion yuan for various projects, including the construction of a polymer lithium battery production base and a research center upgrade [6][7] - The total fundraising from two rounds amounts to 5.336 billion yuan [7]

Core Viewpoint - Universal Dairy Limited (UDL), the controlling shareholder of New Dairy (002946.SZ), plans to reduce its stake by up to 25,820,305 shares, representing 3% of the total share capital, due to funding needs [1] Financial Performance - In 2024, New Dairy reported operating revenue of 10.665 billion yuan, a decrease of 2.93% year-on-year [4][5] - The net profit attributable to shareholders was 538 million yuan, an increase of 24.80% year-on-year [4][5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 579 million yuan, up 24.47% year-on-year [4][5] - The net cash flow from operating activities was 1.491 billion yuan, down 4.23% year-on-year [4][5] Recent Quarterly Performance - In Q1 2025, New Dairy's operating revenue was 2.625 billion yuan, a year-on-year increase of 0.42% [6] - The net profit attributable to shareholders for Q1 2025 was 133 million yuan, a year-on-year increase of 48.46% [6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 141 million yuan, up 40.35% year-on-year [6] - The net cash flow from operating activities for Q1 2025 was 161 million yuan, compared to a negative cash flow of 8 million yuan in the same period last year [6] Shareholder Information - UDL holds 560 million shares, accounting for 65.07% of the total share capital, and is planning to reduce its holdings [1] - Liu Chang and Liu Yonghao are the actual controllers of New Dairy, with Liu Chang holding 100% of UDL [1][2]

Core Viewpoint - The company "孩子王" (Kidswant) is planning a share transfer involving 18,930,000 shares, representing 1.50% of its total share capital, from HCM KW (HK) Holdings Limited, which is not a controlling shareholder or senior management [1][2]. Group 1: Share Transfer Details - The share transfer will not occur through centralized bidding or block trading and is not classified as a secondary market reduction [1]. - HCM KW (HK) Holdings Limited currently holds 69,911,502 shares, accounting for 5.56% of the total shares, making it the third-largest shareholder [3][4]. - The reason for the share transfer is due to the shareholder's need for liquidity [2]. Group 2: Fundraising and Financials - Kidswant raised a total of 628,391,468.59 yuan through its initial public offering, with a net amount of 556,122,565.88 yuan after expenses, which was 189,312.83 million yuan less than planned [5]. - The company has allocated the raised funds for various projects, including retail terminal construction, digital platform development, logistics center construction, and working capital [6]. - The total amount raised from two fundraising activities is 1.667 billion yuan [8].