Core Viewpoint - The shareholders of Qilin Xinan (688152.SH) have announced a plan to reduce their holdings, which will not affect the company's control or governance structure [1][3]. Shareholder Reduction Plans - Shareholder Ruichang Yangrui plans to reduce up to 1,453,600 shares, representing 1.42% of the total share capital, within three months after the announcement [1]. - Shareholder Taian Yangqi plans to reduce up to 588,000 shares, representing 0.58% of the total share capital, within the same timeframe [1]. - Shareholder Ruichang Jieqing plans to reduce up to 1,020,800 shares, representing 1% of the total share capital, through centralized bidding [1]. Financial Performance - For the first three quarters of 2025, the company reported revenue of 159 million yuan, a year-on-year increase of 6.06% [3]. - The net profit attributable to shareholders was -18.43 million yuan, an improvement from -22.93 million yuan in the same period last year [3]. - The net cash flow from operating activities was -10.44 million yuan, compared to -32.63 million yuan in the previous year [3]. Historical Context - Qilin Xinan was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on October 28, 2022, with an initial public offering price of 68.89 yuan per share [3]. - The stock reached a peak price of 248.80 yuan on October 31, 2022, but has since experienced a downward trend [3]. Fundraising and Use of Proceeds - The total amount raised by Qilin Xinan was approximately 910.12 million yuan, with a net amount of 833.19 million yuan after deducting expenses [4]. - The funds are allocated for various projects, including product upgrades and the establishment of a regional marketing and technical service system [4]. Dividend Distribution - In June 2023, the company announced a cash dividend of 0.49 yuan per share and a capital reserve increase of 0.49 shares for every share held [5]. - For the 2024 annual dividend distribution, the company plans to increase capital reserves by 3 shares for every 10 shares held, with no cash dividends [6].

Core Viewpoint - 麒麟信安 reported a mixed financial performance for the first three quarters of 2025, with a slight increase in revenue but continued net losses [1] Financial Performance - The company's operating revenue for the first three quarters of 2025 was 159 million yuan, representing a year-on-year growth of 6.06% [1] - The net profit attributable to shareholders was -18.43 million yuan, an improvement from -22.93 million yuan in the same period last year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -47.14 million yuan, compared to -38.14 million yuan in the previous year [1] - The net cash flow from operating activities was -10.44 million yuan, an improvement from -32.63 million yuan year-on-year [1] Historical Context - 麒麟信安 was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on October 28, 2022, with an initial public offering price of 68.89 yuan per share [2][3] - The company raised a total of 910.12 million yuan, with a net amount of 833.19 million yuan after deducting issuance costs [3] - The company plans to use the raised funds for various projects, including product upgrades and marketing system construction [3] Future Projections - For 2023 and 2024, the projected net profits attributable to shareholders are -30.12 million yuan and 7.94 million yuan, respectively [4] - The projected net profit after deducting non-recurring gains and losses for the same years is -60.59 million yuan and -16.74 million yuan, respectively [4] - The projected net cash flow from operating activities for 2023 and 2024 is -41.34 million yuan and -7.46 million yuan, respectively [4]