Core Viewpoint - *ST绿康 plans to sell three wholly-owned subsidiaries at a price of 0 yuan, raising concerns about the company's decision-making and future direction in the market [1][2]. Group 1: Company Actions - The company intends to sell 100% equity of three subsidiaries, including Green Kang (Yushan) Film Materials Co., Ltd., Green Kang (Haining) Film Materials Co., Ltd., and Green Kang New Energy (Shanghai) Import and Export Trade Co., Ltd. [1] - In January 2023, the company invested 950 million yuan to acquire Green Kang (Yushan), aiming to enter the photovoltaic film industry, which was experiencing rapid growth at that time [1][2]. - The subsidiaries have incurred significant losses, with Green Kang (Yushan) reporting a loss of 55.9 million yuan in 2023 and projected losses of 203.25 million yuan in 2024 [1][2]. Group 2: Market Reactions - The decision to sell the subsidiaries at 0 yuan has led to widespread market skepticism regarding the rationale and fairness of the valuation [2]. - The Shenzhen Stock Exchange has raised questions about the reasonableness of the transaction, and investors are concerned about the company's decision-making capabilities [2]. Group 3: Recommendations for Company - The company needs to provide detailed disclosures about the transaction, including the basis for the valuation and the reasons for the drastic drop in value from 950 million yuan to 0 yuan [3]. - It is essential for the company to ensure transparency in the transaction process and strengthen internal controls to align decisions with shareholder interests [3]. - Regular communication with investors through meetings and calls is necessary to address concerns and rebuild trust in the management [3].

Core Viewpoint - Huida Sanitary Ware has decided to divest its loss-making assets through a "self-amputation" strategy due to continuous losses, aiming to reduce operational risks and optimize its asset structure [2][5][7] Company Summary - Huida Sanitary Ware plans to publicly transfer 100% equity and related debts of its subsidiary, Guangxi Xingaosheng, for a nominal price of 1 yuan, with debts being offered at a significant discount [2][4] - Guangxi Xingaosheng has been in a state of continuous loss, reporting a net loss of 29.31 million yuan in the first half of 2025 and a negative net asset value of 154 million yuan [2][4][6] - The company aims to improve asset operation efficiency and quality through this divestment, which is seen as a necessary step in the current challenging market environment [5][7] Industry Summary - The ceramic industry is facing significant challenges due to a downturn in the real estate market, leading to increased competition and reduced profit margins [6][7] - National ceramic tile production decreased by 12.18% year-on-year in 2024, with production capacity utilization below 50% [6] - Huida Sanitary Ware's revenue fell by 9.94% year-on-year in the first half of 2025, with net profit dropping by 70.21%, largely due to the poor performance of its subsidiary [6][7]

Core Viewpoint - The company, Maike Biological, has decided to transfer its 51% stake in its subsidiary Shandong Maike Biological Technology Co., Ltd. for a transaction price of 17.41 million yuan, aiming to focus on core business and optimize resource allocation [1][3]. Financial Performance - In 2023, Shandong Maike reported revenues of approximately 243 million yuan and a net loss of about 11.04 million yuan. For 2024, revenues are projected to be around 227 million yuan with a net loss of approximately 1.91 million yuan [3]. - Maike Biological's revenue has declined over the years, with figures of 39.81 billion yuan in 2021, 36.08 billion yuan in 2022, 28.96 billion yuan in 2023, and 25.49 billion yuan in 2024. Corresponding net profits were 9.57 billion yuan, 7.08 billion yuan, 3.13 billion yuan, and 1.27 billion yuan respectively [4]. Strategic Decisions - The company aims to enhance market competitiveness and operational quality by divesting from loss-making assets, which is expected to alleviate operational pressure and facilitate capital recovery [3][4]. - Following the transfer, Maike Biological will establish an office in Shandong to manage and expand its dealer network in the region, ensuring that the core business operations remain unaffected [3]. Project Updates - The Maike Biological Tianfu International Biological City IVD Industrial Park project has experienced delays, with the expected operational status now pushed from June to December due to the need for extensive testing and certification of specialized equipment [5].