Shanghai-based cybersecurity company Geer Software Co., Ltd. announced on August 18, 2026, that one of its co-founders plans to reduce his stake in the company. The move comes as the firm grapples with widening losses and a sharp decline in revenue.

According to the shareholder reduction plan disclosed to the market, Lu Haitian, one of the company's actual controllers, currently holds 18,017,695 shares, representing 7.7480% of the total share capital. Lu intends to sell no more than 4,650,000 shares, or approximately 1.9996% of the company's total outstanding shares, within three months starting from September 10, 2026, which is 15 trading days after the announcement date.

Based on the current stock price, the planned share sale is valued at approximately 72.59 million yuan ($10.1 million). The reduction comes at a challenging time for the company, which projects a net loss of between 55 million and 80 million yuan for the first half of 2026.

The company's financial performance has deteriorated significantly, with 2025 revenue falling to 358 million yuan, a year-over-year decline of 32.45%. The company also recorded a net loss of 84.77 million yuan in 2025, representing a 330.27% drop compared with the previous year.

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