Weifeng Electronics announced on the evening of September 15 that Luo Shaochun and Li Xiaocui, concert parties of the company's controlling shareholder and actual controller Li Wenhua, plan to reduce their holdings by no more than 4.7804 million shares, representing 3% of the total share capital. Based on the closing price of 51.53 yuan per share on September 16, the proposed reduction plan would cash out approximately 246 million yuan. This is the second share reduction plan unveiled by the actual controller's concert parties this year. The previous reduction plan in June this year has been completed, when Luo Shaochun and Kangnaite together actually reduced their holdings by about 4.77 million shares, also representing 3% of the total share capital, cashing out a total of 246 million yuan. The combined cash-out from the two rounds is nearly 500 million yuan. Luo Shaochun is Li Wenhua's wife, and Li Xiaocui is Li Wenhua's sister. The two currently directly hold a combined 30.1353 million shares, representing 18.91% of the total share capital. Kangnaite is an employee stock ownership platform where Li Wenhua serves as the executive partner. The subjects of both reduction rounds are concert parties of the actual controller, while Li Wenhua's own shareholding remains unchanged. The reason for the reductions is shareholder funding arrangements. On March 9 this year, approximately 59.38 million restricted shares of Weifeng Electronics were unlocked, representing 54.03% of the total share capital, after which the company successively unveiled reduction plans. At the operational level, the company achieved operating revenue of 713 million yuan in 2025, up 33.46% year on year, with net profit attributable to the parent of 98.8292 million yuan, up 15.64% year on year. Entering 2026, revenue increased but profit did not. In the first half of the year, revenue was 414 million yuan, up 22.6% year on year, while net profit attributable to the parent was 52.69 million yuan, down 4.1% year on year, and non-GAAP net profit fell 10.9% year on year. As of the close on September 16, the company's share price was 51.53 yuan per share, up more than 70% year to date, with a total market value of about 8.211 billion yuan.
WCON Electronics (Guangdong) Co. Ltd. AConcert parties of the actual controller plan to reduce 3% of shares for ~246 million yuan, the second such selldown in four months, signaling insider selling pressure.
