Core Viewpoint - The stock price of World (688028.SH) has surged due to the popularity of emerging industries such as humanoid robots and low-altitude economy, prompting shareholders to initiate share reductions for personal financial needs [1][3]. Group 1: Shareholder Actions - Eight shareholders, including the actual controller Yang Nuo, plan to reduce a total of 2.8823 million shares, potentially cashing out approximately 194 million yuan based on the closing price on the announcement date [1][3]. - The share reduction occurs while the company's stock price is at a high, having increased by about 170% since entering an "upward channel" on August 28 [1][4]. Group 2: Financial Performance - For the first three quarters of 2025, World reported a revenue of 539 million yuan, a year-on-year increase of 9.05%, while the net profit attributable to shareholders decreased by 6.67% to 71.4034 million yuan [5]. - The gross profit margin for the third quarter of 2025 reached 41.53%, marking the lowest since the company went public [2][5]. Group 3: Business Operations - World specializes in high-end cutting tools and diamond functional materials, serving sectors such as automotive, 3C, aerospace, and new energy equipment [3][5]. - The company has seen significant growth in its diamond micro-drill products, achieving revenue of 4.8897 million yuan in the first half of 2025, a year-on-year increase of approximately 110.82% [5][6]. - The company is also developing new applications for its diamond micro-drills in PCB board processing, although these products are still in the R&D and testing phases [7]. Group 4: R&D and Future Prospects - Research and development expenses for the first three quarters of 2025 amounted to 41.9136 million yuan, reflecting a year-on-year increase of 15.75% [7]. - World has established strategic partnerships for its diamond film acoustic devices and is working on projects related to industrial wastewater treatment, although these initiatives are still in the investment phase and have not yet generated significant revenue [6][7].

Group 1 - The core business of the company is the research, production, and sales of ultra-high precision, high precision cutting tools, and superhard material products [1] - Recently, certain products, particularly diamond micro-drills used in PCB board hole processing, have gained attention; however, these products are still in the research and testing phase and have not generated revenue [1] - From January to September 2025, the diamond micro-drill achieved revenue of 9.5265 million yuan in other application areas [1] Group 2 - For the same period, the revenue from screw and RV reducer processing tools and diamond heat sink products is very small, accounting for no more than 1% of the company's total revenue [1] - The impact of these products on the company's overall revenue for 2025 is limited, and their development prospects are influenced by multiple factors, including industry trends and market conditions, which introduce uncertainty [1] - The relevant market is still in the early cultivation stage, and future market expansion may face challenges, including potential lower-than-expected downstream demand [1]