Wafer Works(Shanghai) Co., Ltd. (688584.SH) has announced that its major shareholder, Henan Xinggang Rongchuang Venture Capital Development Fund (Limited Partnership), which holds 28.7% of the company's shares, intends to reduce its stake due to its own funding requirements. The shareholder plans to sell no more than 6.692 million shares, equivalent to 1% of the total share capital, within three months starting from 15 trading days after this announcement. The shares will be sold through either block trades or centralized bidding.
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