A psychiatric hospital unexpectedly appears among the top ten shareholders of an A-share company! The response is here

On May 8th, an investor discovered that a mental hospital appeared on the list of the top ten shareholders of Shengtong Co., Ltd. This hospital’s full name is “Shangrao Guangfeng District Fifteen Ridge Mountain Mental Hospital Co., Ltd.” (hereinafter referred to as “Fifteen Ridge Mountain Mental Hospital”). It became the ninth largest shareholder of Shengtong Co., Ltd. in the first quarter of this year. This news immediately attracted the attention and discussion of many investors.

Image source: Choice Data

As popularity increased, the stock price of Shengtong Co., Ltd. rose accordingly. On May 8th, the stock closed up 5.54%, with a trading volume of 179 million yuan.

In response, China Securities Journal contacted and interviewed a relevant person in charge of this mental hospital. He stated that the company’s actual controller began investing in A-shares as early as ten years ago, but with limited funds, mainly for wealth management purposes. As for why they bought shares of Shengtong Co., Ltd., the main reason was that “the boss’s son studied programming at a company under this firm, and the boss is interested in children’s quality education, thinking this industry has some investment value.”

Data shows that Shengtong Co., Ltd. was established in November 2000. It is a listed company mainly engaged in printing publications and children’s quality education. The company’s business covers comprehensive printing and technology education services, providing clients with integrated solutions for publication printing, packaging printing, and supply chain services, while also building an entire industry chain ecosystem for youth science and technology education.

Construction Cost Reached Tens of Millions

Shengtong Co., Ltd.'s 2025 semi-annual report shows that Fifteen Ridge Mountain Mental Hospital was newly added to the top ten shareholders list of Shengtong Co., Ltd., holding 1.7347 million shares at that time. If all these shares were purchased in the second quarter of 2025, based on the average price of 8.86 yuan per share in the second quarter of 2025, the cost of establishing the position was approximately 15.37 million yuan.

In the third quarter of 2025, Fifteen Ridge Mountain Mental Hospital reduced its holdings by 300.1k shares, down to 1.4337 million shares. Based on the third quarter 2025 average price of 9.08 yuan per share, this realized 2.7331 million yuan.

Because other shareholders increased their holdings, Fifteen Ridge Mountain Mental Hospital did not appear on the top ten shareholders list in Shengtong Co., Ltd.'s 2025 annual report.

Shengtong Co., Ltd.‘s Q1 2026 report shows that Fifteen Ridge Mountain Mental Hospital once again ranked among the top ten shareholders, still holding 1.4337 million shares. Based on the closing price on May 8th, the shares’ market value was 10.38 million yuan.

Regarding whether the company has a long-term plan to hold Shengtong shares, the person in charge of Fifteen Ridge Mountain Mental Hospital said, “If the company’s operations need funds, they will consider selling (the shares).”

China Securities Journal learned that, besides managing the hospital, the actual controller of Fifteen Ridge Mountain Mental Hospital is also interested in investment and has some experience. “They just use idle funds for investment, are optimistic about technology and cyclical industries, and will lean towards consumption in the second half of the year.” Additionally, they have invested in industrial enterprises.

Losses in Technology Education Business

Shengtong Co., Ltd. mainly engages in two major businesses: comprehensive printing services and technology education services. The former includes publishing printing and packaging printing; the latter’s core products are full-system products for youth science and technology education.

Further, these products cover programming, robotics, artificial intelligence, scientific experiments, etc., with supporting teaching tools like Mingzhong robots and programming kits, as well as digital tools such as OMO teaching service platforms and AI-exclusive learning platforms.

Among them, Beijing Shengtong Education Technology Group Co., Ltd. and Beijing Lebo Lebo Education Technology Co., Ltd. are the main carriers of Shengtong’s education business. Lebo Lebo is a group company focused on robot programming education for ages 3–18, acquired by Shengtong in 2016.

In 2025, Shengtong Co., Ltd. achieved total operating revenue of 8B yuan, a year-on-year decrease of 0.36%; net profit attributable to shareholders was 7.5261 million yuan, compared to a loss of 192 million yuan in 2024. Among these, the comprehensive printing services generated 1.73 billion yuan in revenue, up 3.26%, with a gross profit margin of 11.20%; the technology education services generated 308 million yuan, down 16.78%, with a gross profit margin of 37.24%.

However, the annual report shows that the two education subsidiaries are in a loss state. In 2025, Beijing Shengtong Education Technology Group achieved revenue of 128 million yuan, a loss of 7.51 million yuan; Lebo Lebo achieved revenue of 201 million yuan, a loss of 30 million yuan.

Closure of Some Inefficient Stores

At the performance briefing on May 7th, Shengtong Co., Ltd. stated that the company will continue to adhere to a dual-main business model driven by printing as the stable foundation and technology education for long-term growth. The printing sector will maintain its advantage in publishing printing, while focusing on packaging printing in pharmaceuticals, food, and alcohol sectors, accelerating intelligent and green transformation; the education sector will focus on science and technology innovation and AI education for ages 3–18, consolidating C-end business while expanding B-end and G-end school-entering services. The two sectors operate independently with resource sharing, aiming for simultaneous growth in revenue and profitability in 2026.

Regarding plans to open new teaching centers or service centers in more cities, Shengtong Co., Ltd. said that the industry is currently in a period of adjustment. The company’s short-term strategic goal is to optimize offline stores, close some inefficient outlets, reduce customer acquisition costs, and focus on refined operations.

Shengtong’s education business adopts a self-operated and franchise model, with some emphasis. The company stated at the performance briefing that its offline directly operated stores focus on core first- and second-tier cities, while franchise operations cover third- and fourth-tier cities, with normal development.

（Source: China Securities Journal）