Core Viewpoint - Shareholders of Defang Nano (300769.SZ) are planning to reduce their holdings, indicating potential concerns about the company's performance and market conditions [1][2][4]. Shareholder Actions - Shareholder Qin Dongdong plans to reduce his holdings by up to 279.54 million shares, which is 1% of the total share capital after excluding repurchased shares [1] - Qin Dongdong's shareholding amounts to 14.0094 million shares, representing 5.01% of the company [1] - Another shareholder, Ji Xuewen, has also announced plans to reduce his holdings by up to 832.14 million shares, which is 3% of the total share capital [3] Financial Performance - Defang Nano's revenue for 2023 and 2024 is projected to be 16.973 billion yuan and 7.613 billion yuan, respectively, reflecting year-on-year declines of 24.76% and 55.15% [4] - The company reported a net loss of 1.636 billion yuan in 2023 and is expected to incur a loss of 1.338 billion yuan in 2024 [4] - In the first quarter of this year, the company achieved a revenue of 2.004 billion yuan, a year-on-year increase of 5.90%, but still reported a net loss of 167 million yuan [5] Market Conditions - The lithium iron phosphate (LFP) cathode material industry is currently experiencing a downturn, with significant price fluctuations impacting Defang Nano's performance [4][6] - The company holds a market share of approximately 20% in the LFP cathode material sector, ranking second in the industry [4] - The overall market conditions have led to a decline in product sales prices and increased competition, contributing to the company's financial struggles [6] Loss Mitigation - A positive trend is noted as the company has shown a reduction in losses, with a year-on-year decrease in losses of 9.51% in the first quarter [7]