Redick announced that its actual controller, chairman and general manager Shen Renrong has been released on bail pending trial by the Hangzhou Public Security Bureau on suspicion of insider trading, with the period starting from July 20, 2026. This matter is the same incident for which Shen Renrong was penalized by the Zhejiang Securities Regulatory Bureau in October 2022 for insider trading in the shares of Shanghai Precise Packaging Co., Ltd., when he illegally profited 8.7175 million yuan and was fined and had illegal gains confiscated totaling 34.87 million yuan. The company stated that Shen Renrong is currently able to perform his duties normally, and production and operations are normal. Redick's operating revenue exceeded 1 billion yuan for the first time in 2025, reaching 1.044 billion yuan, a year-on-year increase of 41.13 percent, but net profit attributable to the parent company only grew 17.53 percent to 141 million yuan, with both gross margin and net margin declining. In the first quarter of 2026, net profit attributable to the parent company was 26.7762 million yuan, a sharp year-on-year decline of 23.36 percent, and net cash flow from operating activities turned negative to minus 16.2703 million yuan.
HangZhou Radical Energy Saving Technology Co LtdChairman Shen Renrong released on bail for insider trading, a regulatory/legal issue.