After the market closed on December 22, Dook Media (301025.SZ) announced that the company received a notice from its controlling shareholders and actual controllers, Hua Nan and Hua Shan, who are planning matters related to a change in the company’s control. To ensure fair information disclosure and avoid abnormal stock price fluctuations, the company’s shares have been suspended from trading since the market opened on December 22. The suspension is expected to last no more than 2 trading days. The specific plan for this transaction is still being formulated, and no formal agreement has been signed yet, so there is uncertainty.

Public information shows that Dook Media was established in 2006 with investment from Hua & Hua, founded by brothers Hua Nan and Hua Shan. Its main business is book planning and distribution, and it was listed on the ChiNext board in 2021. As of the end of the third quarter of 2025, Hua Nan directly held approximately 41.03% of Dook Media’s shares, while Hua Shan held 29.58%. The two are acting in concert and are the company’s actual controllers.

It is worth noting that the brothers Hua Nan and Hua Shan, who are planning this change of control, are better known as the founders of the well-known marketing consulting firm “Hua & Hua.” Not long ago, they became the focus of public attention due to their deep involvement in an online debate.

In September, well-known entrepreneur Luo Yonghao criticized Xibei Restaurant on Weibo, stating it was “almost entirely pre-made dishes yet so expensive,” pushing Xibei into the spotlight. As Xibei’s long-term brand strategy consulting partner, Hua Shan, founder of Hua & Hua, immediately posted on social media to support the client, repeatedly describing Luo Yonghao as a “malicious online commentator” and expressing support for Xibei founder Jia Guolong to “stand firm.”

The dispute escalated quickly. On September 14, Luo Yonghao publicly called out Hua Shan during a live stream, demanding an apology and stating, “If other companies use Hua & Hua in the future, people might start wondering if that brand has intellectual issues.” Facing pressure, the situation reversed rapidly the next day. On September 15, Luo Yonghao posted: “The boss of Hua & Hua has apologized to me, and this matter can be put to rest.” This public discussion about the right to know regarding “pre-made dishes” unexpectedly brought the behind-the-scenes brand consulting firm to the forefront and sparked debate about Hua & Hua’s client relationship management.

Regarding whether the planned change of control is related to the recent public attention on the actual controllers, a staff member who answered the phone stated, the specific reason for the planned change of control is not yet clear, and it is recommended to pay attention to subsequent announcements.

It is noteworthy that the brothers Hua Nan and Hua Shan replicated Hua & Hua’s “super symbol” strategy at Dook Media, creating bestsellers such as “The Tibet Code” and “Half-Hour Comic Series,” which once led the market. However, this industrialized publishing model has now shown its limitations.

Financial reports show that Dook Media’s revenue reached 519 million yuan in the year of its IPO in 2021, but then began to decline. In 2024, revenue fell 6.61% year-on-year to 406 million yuan. For the first three quarters of 2025, revenue further decreased to 257 million yuan, with the year-on-year decline widening to 12.19%.

The performance of net profit attributable to the parent company’s owners is even more dismal. It peaked at 67.2545 million yuan in 2021, turned into a loss of 3.2825 million yuan in 2023. For the first three quarters of 2025, the company’s net profit attributable to the parent company’s owners was 6.521 million yuan, while the net profit attributable to the parent company’s owners after deducting non-recurring gains and losses was only 310,700 yuan, a year-on-year decrease of 95.09%, indicating that profitability is almost exhausted.

Amid this trend, Dook Media’s executives and shareholders have been continuously reducing their holdings and cashing out. Earlier this year, Ningbo Dook Enterprise Management Partnership, an entity acting in concert with controlling shareholders and actual controllers Hua Nan and Hua Shan, announced a reduction in its holdings. Within three months, it sold 11.19 million shares through centralized bidding and block trades, cashing out approximately 114 million yuan. In early November, Ningbo Dook Enterprise Management Partnership sold another 4.108 million shares through an inquiry transfer, cashing out 34.3855 million yuan. Combined with previous reductions by former core executive Zhu Xiaoxiao

Dook Media

I’m unable to find any verifiable information or historical records about a significant place or cultural site named “Dook Media.” It’s possible the name may be misspelled, refer to a very local or new establishment, or be a private company rather than a public cultural heritage site.

If you have more context or can confirm the correct spelling, I’d be happy to help research it for you. Alternatively, if you are referring to a media company, I could provide a summary based on that.

ChiNext board

The ChiNext board is a stock exchange segment launched by the Shenzhen Stock Exchange in 2009, modeled after the NASDAQ. It was established to provide a dedicated financing platform for innovative start-ups and high-growth companies, particularly in technology and emerging industries, within China. Its creation marked a key step in China’s financial market reforms to support domestic innovation and entrepreneurship.

Hua & Hua

I’m unable to provide a specific summary for “Hua & Hua” as it does not correspond to a widely recognized major cultural site, landmark, or historical location. It could potentially be a local business, a personal project, or a lesser-known reference. For an accurate summary, please verify the correct name or provide additional context about its location or significance.

Xibei Restaurant

Xibei Restaurant is a popular Chinese restaurant chain specializing in the hearty, rustic cuisine of China’s northwestern regions, particularly Shaanxi and Xinjiang. Founded in Beijing in 2001, it grew from a single location by emphasizing traditional dishes like hand-pulled noodles and lamb skewers, helping to popularize these regional flavors nationwide. It is celebrated for bringing the authentic taste and communal dining culture of China’s northwest to urban centers.

The Tibet Code

“The Tibet Code” is not a recognized historical place or cultural site, but the title of a popular Chinese adventure novel series by He Jiahong, published in the 2000s. The story is a fictional thriller involving mysteries and conspiracies centered around Tibetan history and Buddhist relics, but it does not refer to an actual physical location.

Half-Hour Comic Series

The “Half-Hour Comic Series” is not a physical place or traditional cultural site, but a popular online webcomic and animated series created by Chinese artist “Old Xian” (old先). It primarily features humorous, slice-of-life stories about a group of friends, with its most famous work being *19 Days*, which began publication online around 2011 and gained a massive international following for its relatable characters and comedic style.

Ningbo Dook Enterprise Management Partnership

Based on available information, “Ningbo Dook Enterprise Management Partnership” does not appear to be a recognized public cultural site, historical landmark, or tourist destination. It is most likely a private business entity, specifically a professional services firm, operating in Ningbo, China. Therefore, it does not have a public history suitable for a cultural summary.

Zhu Xiaoxiao

I am unable to find any verifiable information on a significant place or cultural site named “Zhu Xiaoxiao.” It is possible that the name may be misspelled, refer to a very localized or personal location, or be a fictional reference.

To provide an accurate summary, could you please double-check the spelling or provide additional context about this name?