Behind the Speculative Frenzy of Chunxing Precision: Actual Controller’s Shares Face Second Auction While Performance Remains in the Red

As progress in the robotics industry continues to unfold, the concept of robotics has gained popularity in the A-share market, leading to significant stock price increases for related companies. Chunxing Precision (002547.SZ) has been targeted by some funds as a thematic stock, with its price surging over 48% between September 2 and 11, accompanied by a sharp rise in trading volume.

On September 10, Chunxing Precision stated on an interactive platform that the company is primarily engaged in the R&D, production, and sales of precision aluminum alloy structural components for communication system equipment, automotive parts, and other related businesses. It currently does not involve humanoid robotics业务.

Regarding the potential change in actual controller ownership, Chunxing Precision announced earlier this month that some shares held by controlling shareholder Sun Jiexiao would be put up for a second public auction on the JD Judicial Auction Platform from September 23 to 24. The batch of shares to be auctioned totals approximately 170 million, representing 15.05% of the company’s total shares. If all are sold, the combined持股比例 of Sun Jiexiao and acting-in-concert person Yuan Jing would drop from 29.66% to 14.61%, significantly increasing the likelihood of a change in actual control. This could subsequently impact the company’s governance structure, strategic stability, and operational continuity.

Based on previously disclosed information, almost all of Sun Jiexiao’s shares remain in a "frozen +轮候冻结" status. As of the 9th of this month, Sun and acting-in-concert parties collectively hold 335 million shares, accounting for 29.66% of the company’s total shares. Among these, the质押比例 is as high as 95.36%, judicial freezing accounts for 90.73%, and轮候冻结 shares represent 90.59%. According to Chunxing Precision’s interim report, in the first half of 2025, the company achieved revenue of 977 million yuan, with net profit attributable to shareholders of -129 million yuan and adjusted net profit of -125 million yuan.

Chunxing Precision has no connection to humanoid robotics业务. Currently, it is focusing on strengthening its automotive and communication equipment-related businesses. In its automotive parts segment, revenue and gross margin for new energy vehicle components improved in the first half of the year, increasing by 7.36% and 1.59% year-on-year, respectively. The loss scale of its subsidiary Jinzhai Chunxing, which primarily produces new energy vehicle parts, narrowed by 10.9969 million yuan compared to the same period last year.