The second-largest shareholder announces a reduction plan! The two major shareholders cashed out over 360 million yuan last year. 002843 is expected to report its first annual loss since listing, and some fundraising projects have been terminated.

If you’re trading stocks, just look at the Jin Qilin analyst research reports—authoritative, professional, timely, and comprehensive. Help you uncover potential theme opportunities!

Recently, Taijia Co., Ltd. (002843.SZ)’s second-largest shareholder, Zoomlion Heavy Industry Science and Technology Co., Ltd., has once again released a share reduction plan, proposing to reduce its shareholding by no more than 3%. In 2025, Zoomlion has already carried out two share reduction plans, with a total reduction ratio of 4% and cash proceeds exceeding RMB 200 million. During Zoomlion’s share reduction, Taijia’s controlling shareholder also reduced its shareholding, with the reduction ratio reaching 3%.

It is worth noting that in 2025, Taijia’s net profit is expected to be negative, marking the first time the company has reported a loss since it was listed. In prior years, Taijia moved into the power supply sector. However, the company’s 2023 new energy power supply and energy storage power supply projects and R&D-related projects were terminated, and the progress of the remaining projects raised for investment has also fallen short of expectations.

As of the noon close on March 26, Taijia’s shares fell 1.08%, to 21.05 yuan.

Last year, the controlling shareholder and Zoomlion Heavy Industry

Together, the total share reduction ratio reached 7%

On the evening of March 24, 2026, Taijia released a preliminary disclosure announcement regarding share reduction by shareholders holding more than 5% of the company’s shares. The announcement shows that within three months after 15 trading days from the date of the announcement, the company’s shareholder Zoomlion plans to reduce its shares through centralized bidding transactions of no more than 2.517375 million shares (accounting for 1% of the company’s total share capital); and through block trading of no more than 5.034751 million shares (accounting for 2% of the company’s total share capital). As of now, Zoomlion holds 37.940503 million shares of Taijia, representing a shareholding ratio of 15.07%, making it the second-largest shareholder of Taijia.

As of March 25, 2026, Taijia’s closing price was 21.28 yuan, with a market capitalization of about RMB 5.357 billion. If Zoomlion reduces 7.552126 million shares at 21.28 yuan, the cash proceeds would exceed RMB 160 million. It is worth noting that Zoomlion is also an A-share listed company, and its current market capitalization exceeds RMB 70 billion.

According to reporters from the “Economic Daily News” (hereinafter referred to as “Economic Daily News reporters”) who sorted through the information, in 2025 Zoomlion carried out two share reduction plans for Taijia, with a total reduction ratio of 4%, and total cash proceeds exceeding RMB 200 million.

From July 3, 2025, to August 25, 2025, Zoomlion reduced 2.517374 million shares via centralized bidding, with a reduction ratio of about 1%, an average reduction price of about 20.31 yuan, and cash proceeds of about RMB 51.13 million.

From August 11, 2025, to September 5, 2025, Zoomlion reduced 5.03475 million shares via block trading, with a reduction ratio of about 2%, an average reduction price of about 21.45 yuan, and cash proceeds of about RMB 108 million.

From November 24, 2025, to December 9, 2025, Zoomlion reduced 2.507373 million shares via centralized bidding, with a reduction ratio of about 1%, an average reduction price of about 18.85 yuan, and cash proceeds of about RMB 47.26 million.

In addition, Taijia’s controlling shareholder, Changsha Zhengyuan Enterprise Management Co., Ltd. (hereinafter referred to as “Changsha Zhengyuan”), also completed one share reduction plan in 2025, with a total reduction ratio of 3% and total cash proceeds exceeding RMB 160 million.

Taijia’s relevant announcements show that from August 12, 2025, to August 22, 2025, Changsha Zhengyuan reduced 2.5173 million shares through centralized bidding, with a reduction ratio of about 1%, an average reduction price of about 24.92 yuan, and cash proceeds of about RMB 62.73 million; from August 6, 2025, to September 11, 2025, Changsha Zhengyuan reduced 5.03475 million shares through block trading, with a reduction ratio of about 2%, an average reduction price of about 20.81 yuan, and cash proceeds of about RMB 105 million. As of now, Changsha Zhengyuan still holds about 20.40% of Taijia’s shares.

2025 expected performance—preliminary loss

Some raised-for-investment projects were terminated

Taijia Co., Ltd. has been deeply involved in the sawing and cutting industry for over 20 years, and is a leading enterprise in the segmented field of sawing and cutting. In late September 2022, the company entered the consumer electronics power supply business and expanded into high-power power supply businesses, including new businesses and new product categories such as new energy smart photovoltaic, energy storage power supplies, data center power supplies, and site energy power supplies, establishing a dual-main-business development pattern of “sawing and cutting + power supplies.”

Taijia’s performance in 2025 has not been good. The company expects its net profit to be negative, marking the first loss since it listed in 2017. Taijia’s 2025 performance preannouncement shows that the company expects its 2025 net profit to be a loss of RMB 22.5 million to RMB 32 million, representing a year-on-year decline of 144.63% to 163.47% compared with the same period in 2024.

The setbacks in new business progress and the recognition of asset impairment provisions are the main reasons for Taijia’s 2025 performance decline. Taijia’s 2025 performance preannouncement shows that the price of its photovoltaic new energy power supply products faced pressure. The company actively adjusted the order structure of its high-power power supply business, reduced certain businesses with low marginal contribution, and its operating revenue in the high-power power supply business declined. At the same time, the company will conduct impairment tests for the goodwill asset group combination of its subsidiary, Changsha Bo Tai Electronic Co., Ltd., which has impairment indicators, and for part of the long-term assets of its subsidiary, Yada Energy Products (Dongguan) Co., Ltd., and will reverse part of the deferred income tax assets that had been recognized in prior years. Based on the preliminary calculations by the finance department, the above matters will impact net profit by RMB 85 million to RMB 94 million.

Economic Daily News reporter noted that Taijia’s previously raised-for-investment project progress was not smooth. In 2023, Taijia raised net proceeds of about RMB 586 million through a private placement to be used for the following five projects: 1. Construction project for the hard alloy band saw blade production line; 2. Construction project for the high-speed steel bimetal band saw blade production line; 3. New energy power supply and energy storage power supply production base project; 4. R&D center construction project; 5. Supplementing working capital and repaying bank loans.

Except for supplementing working capital and repaying bank loans, the progress of the other four raised-for-investment projects has all fallen short of expectations. Among them, after the “R&D center construction project” was postponed once, not long after, the company decided to terminate the project; the “hard alloy band saw blade production line construction project” and the “high-speed steel bimetal band saw blade production line construction project” both had their dates for achieving the scheduled usable status extended to September 20, 2026; the “new energy power supply and energy storage power supply production base project” had originally been extended to September 20, 2026, but the company’s recent announcements show that this project was also terminated for implementation.

As of January 31, 2026, the “new energy power supply and energy storage power supply production base project” had accumulated investment of about RMB 79.4292 million. The company stated that although it terminated the project, going forward it will, depending on circumstances,推进 the project implementation in due course using its own funds.

Why did the company’s controlling shareholder and second-largest shareholder reduce their holdings in such a large proportion? Do they still have confidence in the company’s development? Why is the progress of the company’s raised-for-investment projects so slow? The “new energy power supply and energy storage power supply production base project” has already invested nearly RMB 80 million—at this time, choosing to terminate it, will it cause a waste of funds? If it causes losses, will those losses be reflected in the company’s annual report? Economic Daily News reporter sent the above questions to the email address of Taijia’s securities department, but as of the time of publication, no reply had been received.

A large volume of information and precise analysis are all available in the Sina Finance App

责任编辑：杨红卜