Pylon Technologies' second-largest shareholder has sold off shares in three consecutive rounds, totaling over 850 million yuan in cashing out! The company's net profit excluding non-recurring gains and losses is still in the red in 2025.

Reporter | Zhang Guangri Editor | Wu Yongjiu

Recently, the second-largest shareholder of Pylon Technologies completed their share reduction plan, cashing out over 400 million yuan. The reporter from “Daily Economic News” noticed that over the past year, Pylon Technologies’ stock price doubled, while this major shareholder has completed three rounds of share reductions, with a total reduction ratio exceeding 6%, cashing out a total of over 850 million yuan. In 2025, Pylon Technologies is expected to see a recovery in revenue growth, but due to increased industry competition, the company’s product sales prices are under pressure, and the net profit excluding non-recurring items is still in a loss state.

On the evening of March 25, 2026, Pylon Technologies announced the results of share reductions by shareholders holding more than 5%. The announcement indicated that the company’s shareholder Paili (Ningbo) Venture Capital Partnership (Limited Partnership) (hereinafter referred to as Paili Venture Capital) has completed its share reduction plan. From February 6, 2026, to March 24, 2026, Paili Venture Capital cumulatively reduced its shares in the company by 6,163,886 shares, accounting for 2.5122% of the company’s total share capital, cashing out approximately 432 million yuan, with an average reduction price of about 70.09 yuan. After completing this round of share reduction, Paili Venture Capital remains the second-largest shareholder of Pylon Technologies, holding approximately 5.0221% of the shares.

(Image source: Screenshot from Pylon Technologies’ announcement)

It is worth noting that in 2025, Paili Venture Capital implemented two rounds of share reductions, with a total reduction ratio of approximately 3.81%, cashing out a total of approximately 425 million yuan.

According to relevant announcements from Pylon Technologies, from August 25, 2025, to November 6, 2025, Paili Venture Capital reduced 1,977,549 shares through centralized bidding (accounting for 0.8060% of the company’s total share capital), cashing out approximately 121 million yuan, with an average reduction price of about 61.19 yuan. From April 24, 2025, to June 6, 2025, Paili Venture Capital cumulatively reduced 7,359,088 shares (accounting for 2.9993% of the company’s total share capital) through centralized bidding and block trading, cashing out approximately 304 million yuan, with an average reduction price of about 41.25 yuan.

Including the reductions in 2026, over the past year, Paili Venture Capital has cumulatively reduced its shares in Pylon Technologies by more than 6%, cashing out a total of over 850 million yuan. Meanwhile, Pylon Technologies’ stock price has continued to strengthen over the past year. Adjusted for dividends, on April 8, 2025, Pylon Technologies’ stock price fell to a low of 32.65 yuan. On March 20, 2026, the company’s stock price rose to a high of 88.50 yuan. In other words, during the year when Pylon Technologies’ stock price doubled, Paili Venture Capital completed three rounds of share reduction plans.

In 2025, the controlling shareholder of Pylon Technologies made an increase in holdings. The company’s relevant announcement shows that from April 22, 2025, to October 28, 2025, the controlling shareholder, ZTE New Communications Co., Ltd., increased its holdings by a total of 1,337,544 shares through centralized bidding transactions, with a total amount of approximately 60.64 million yuan, and an average increase price of about 45.34 yuan. As of March 26, 2026, Pylon Technologies’ closing price was 80.72 yuan, with a market value of approximately 19.81 billion yuan. Based on the current closing price, ZTE New Communications Co., Ltd.'s increase in holdings in 2025 has yielded a floating profit ratio of about 78%.

Pylon Technologies is an industry-leading provider of energy storage systems, with a high brand recognition and strong market competitiveness in the global electrochemical energy storage market. The company’s products can be widely applied in various stages of the power system, including generation, transmission, distribution, and consumption, as well as in scenarios such as communication base stations, vehicle-mounted energy storage, mobile energy storage, and lightweight power.

In 2025, Pylon Technologies’ revenue showed signs of recovery. The company’s 2025 annual performance forecast showed that in 2025, the company achieved revenue of approximately 3.158 billion yuan, a year-on-year increase of 57.53%; net profit was approximately 84.12 million yuan, a year-on-year increase of 104.64%. The reasons for the recovery in Pylon Technologies’ revenue are as follows: a rebound in international energy storage market demand, a surge in domestic energy storage and lightweight power market demand, and the company’s optimization of resource allocation in sales and R&D, which significantly boosted revenue scale.

However, due to the intensified competitive landscape in the industry, Pylon Technologies’ product sales prices remain under pressure. The company’s operating profit performance and net profit performance excluding non-recurring items fully illustrate this point: in 2025, Pylon Technologies’ operating profit was only 14.99 million yuan, a year-on-year decline of 76.59%; the net profit excluding non-recurring items was still in a loss state, with a loss amount of approximately 10.49 million yuan.

(Image source: Screenshot from Pylon Technologies’ announcement)

In the context of a significant decline in operating profit, why did the company’s net profit still show growth in 2025? Pylon Technologies’ 2025 annual performance forecast indicates that this is mainly due to a significant increase in sales volume and improvements in the operating conditions of some subsidiaries. The increase in deferred tax assets related to unrealized profits from internal transactions and recognition of deferred tax assets related to deductible losses from certain subsidiaries, combined with multiple factors, contributed to the growth of this period’s performance.

Cover image source: Every Day Media Library

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