Core Insights - Jiangnan Yifan's stock price increased by 0.38% on November 14, with a trading volume of 48.08 million yuan. The financing buy-in amount was 4.87 million yuan, while the financing repayment was 7.12 million yuan, resulting in a net financing outflow of 2.24 million yuan [1] - As of November 14, the total margin balance for Jiangnan Yifan was 88.92 million yuan, accounting for 2.85% of its market capitalization, indicating a high level compared to the past year [1] - The company reported a decrease in revenue and net profit for the first nine months of 2025, with revenue of 202 million yuan (down 0.31% year-on-year) and a net profit of 58.33 million yuan (down 19.07% year-on-year) [2] Financing and Margin Data - On November 14, Jiangnan Yifan had a financing buy-in of 4.87 million yuan, with a total financing balance of 88.92 million yuan, which is above the 50th percentile level for the past year [1] - The company had no short-selling activity on November 14, with a short-selling balance of 0 yuan, indicating a high level of short-selling availability compared to the past year [1] Business Performance - Jiangnan Yifan's main business involves the research, development, manufacturing, and sales of customized micro-reduction motors, with revenue contributions from energy storage reduction motors (67.29%), RV reduction motors (15.11%), other products (9.18%), and solar motors (8.42%) [1] - The company has distributed a total of 240 million yuan in dividends since its A-share listing, with 197 million yuan distributed over the past three years [3]

Core Viewpoint - Jiangnan Yifan (301023.SZ) announced the completion of the share reduction plan by its controlling shareholder and actual controller, Liu Jincheng, who reduced his holdings without affecting the company's control or governance structure [1][2]. Summary by Sections - **Share Reduction Plan** Liu Jincheng, holding 32,424,000 shares (41.68% of total shares excluding repurchased shares), planned to reduce his holdings by up to 777,879 shares (1.00%) through centralized bidding and 1,555,758 shares (2.00%) via block trading [1]. During the reduction period, he ultimately sold 2,038,248 shares, representing 2.62% of the total shares excluding repurchased shares [1]. - **Financial Impact** The average price of the shares sold was 40.45 CNY per share, resulting in a total cash-out of approximately 82.45 million CNY [2]. - **Trading Details** The share reduction included various trading methods and periods, with specific details on the number of shares and prices for each transaction [3][4]. The total shares reduced were 2,038,248 at an average price of 40.45 CNY, with a breakdown of transactions showing different methods and prices [4]. - **Company Background** Jiangnan Yifan was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on July 7, 2021, with an initial public offering of 9.33 million shares at a price of 58.31 CNY per share [4]. The total funds raised amounted to 544.24 million CNY, with net proceeds of 486.58 million CNY after deducting issuance costs [4]. The company aimed to use the raised funds for the construction of production bases for energy-saving reduction motors and research and development centers [5].