May 24, 2026
As the A-share semiconductor sector continues its hot streak, shareholders of several prominent companies have collectively announced plans to reduce their holdings. On the evening of May 22, seven listed companies in the semiconductor and AI industry chain, including Advanced Micro-Fabrication Equipment Inc. China (688012.SH), Montage Technology Co.,Ltd. (688008.SH), and Asr Microelectronics Co.,Ltd. (688220.SH), intensively released share reduction announcements. These plans involve various levels, including actual controllers, core shareholders, and directors, supervisors, and senior management.
In this wave of reductions, inquiry-based transfer has emerged as a significant method. Montage Technology Co.,Ltd., Jiangsu Cai Qin Technology Co.,Ltd. (688182.SH), and Crystal Growth & Energy Equipment Inc. (688478.SH) have all chosen this path for their share reductions. Based on the latest closing prices, the total planned reduction scale for these seven companies amounts to approximately 12.692 billion yuan. Among them, Advanced Micro-Fabrication Equipment Inc. China alone accounts for a 6-billion-yuan reduction, while Alibaba is once again moving to reduce its stake in Asr Microelectronics Co.,Ltd. after a six-month interval.
Prominent Semiconductor Stocks Intensively Announce Share Reduction Plans On May 22, the A-share market witnessed a wave of share reduction announcements from semiconductor companies. That evening, several listed companies in the semiconductor industry chain, including Advanced Micro-Fabrication Equipment Inc. China, Montage Technology Co.,Ltd., Asr Microelectronics Co.,Ltd., Everprox Technologies Co.,Ltd. (300548.SZ), Jiangsu Cai Qin Technology Co.,Ltd., and Crystal Growth & Energy Equipment Inc., disclosed shareholder reduction plans. These companies are leading players across various sub-sectors such as semiconductor equipment, chip design, and materials.
This surge in reduction announcements comes against the backdrop of a significant recent rally in the semiconductor sector. This week, semiconductors have become the strongest thematic trend in the A-share market, with many individual stocks posting consecutive substantial gains. On the 21st, the China Semiconductor Chip Index hit a record high of 18,676.56 points, and the STAR 50 Index also reached a new historical peak on the same day.
At the individual stock level, 46 semiconductor stocks reached new all-time highs this week, primarily concentrated in the equipment, materials, and design segments. Among the semiconductor companies announcing reduction plans, Advanced Micro-Fabrication Equipment Inc. China and Montage Technology Co.,Ltd. saw their share prices hit new historical highs this week. The total market capitalization of Advanced Micro-Fabrication Equipment Inc. China once exceeded 300 billion yuan. Asr Microelectronics Co.,Ltd. reached an intraday high of 129.49 yuan on the 21st, just 0.62 yuan shy of its all-time high set on its listing day (130.11 yuan). The stock has surged 72.5% cumulatively since April. Influenced by market speculation on silicon carbide concepts, Crystal Growth & Energy Equipment Inc. has also seen its stock price soar 134% since April, reaching a record high of 79.9 yuan on May 15.
A notable feature of this round of reduction announcements is that several companies have opted for the inquiry-based transfer method. Montage Technology Co.,Ltd., Jiangsu Cai Qin Technology Co.,Ltd., and Crystal Growth & Energy Equipment Inc. all released shareholder inquiry-based transfer plans, rather than traditional announcements for reductions via centralized bidding or block trades.
Compared to ordinary reduction methods, inquiry-based transfer has distinct characteristics. Firstly, it is targeted solely at professional institutional investors, not involving retail investors in the secondary market, which minimizes direct impact on the stock price. Secondly, shares acquired by transferees through inquiry-based transfer are subject to a six-month lock-up period, preventing short-term selling pressure and reducing disturbance to secondary market prices.
Apart from the three companies using inquiry-based transfer, the remaining four companies chose traditional reduction methods. Everprox Technologies Co.,Ltd., Semitronix Corporation (301095.SZ), Advanced Micro-Fabrication Equipment Inc. China, and Asr Microelectronics Co.,Ltd. all announced that shareholders would reduce holdings through a combination of centralized bidding and block trades. Among them, Advanced Micro-Fabrication Equipment Inc. China simultaneously released two announcements: one for a major shareholder reduction plan and another for a plan involving directors, supervisors, and senior management, affecting seven executives including Chairman Yin Zhiyao.
Combined Reduction Scale of Seven Companies Nears 12.7 Billion Yuan Calculated based on the latest closing prices, the total planned reduction amount for the aforementioned seven companies is approximately 12.692 billion yuan, marking the largest single-day announced reduction scale in the semiconductor sector recently.
The reduction scale is largest for semiconductor equipment leader Advanced Micro-Fabrication Equipment Inc. China. Major shareholder Xunxin (Shanghai) Investment Co., Ltd. plans to reduce its holdings by no more than 12.5768 million shares, representing 2% of the company's total shares. Based on the latest closing price of 469.6 yuan, this corresponds to a reduction amount of about 5.906 billion yuan. Concurrently, seven directors and senior managers, including Yin Zhiyao, plan to collectively reduce no more than 221,600 shares, corresponding to an amount of about 104 million yuan. The stated reason for this reduction is to fund the exercise of equity incentives and related tax payments.
This marks the third time in a year that Xunxin Investment is reducing its stake in Advanced Micro-Fabrication Equipment Inc. China. The previous two reductions, each involving 12.523 million shares, were completed on April 29, 2025, and November 13, 2025, respectively. Calculated using the lower bounds of the reduction price ranges, those two transactions realized approximately 6.57 billion yuan. Combined with this latest plan, the three reductions total roughly 12.47 billion yuan in realized proceeds.
The reduction scale for memory interface chip leader Montage Technology Co.,Ltd. ranks second. Shareholder Shanghai Rongying Enterprise Management Partnership plans to reduce 12.228 million shares, representing 1% of the company's total shares. Based on the latest closing price of 271.83 yuan, this corresponds to a reduction amount of about 3.324 billion yuan. Shanghai Rongying currently holds a 3.10% stake in Montage Technology Co.,Ltd. After this transfer, its shareholding will decrease to 2.10%.
Alibaba's second move to reduce its stake in Asr Microelectronics Co.,Ltd. has also drawn significant market attention. As the company's largest shareholder, Alibaba plans to reduce no more than 12.549 million shares, representing 3% of the total shares. Based on the latest closing price of 115.75 yuan, the reduction amount is about 1.453 billion yuan.
This is Alibaba's second reduction of its Asr Microelectronics Co.,Ltd. stake in six months. Between October 9 and December 17, 2025, Alibaba already reduced its holdings in Asr Microelectronics Co.,Ltd. by 12.549 million shares, with a price range of 73.42 to 99.46 yuan, realizing at least 921 million yuan. Upon completion of this latest reduction, Alibaba's stake in Asr Microelectronics Co.,Ltd. will decrease from the current 12.43% to 9.43%.
The reduction scales for the other companies are relatively smaller. The actual controller, their concerted actors, directors, and senior managers of Semitronix Corporation plan to collectively reduce no more than 3.6525 million shares, representing 1.85% of the total shares, corresponding to an amount of about 376 million yuan. Shareholder Zhu Wei and their spouse of "ten-bagger" stock Everprox Technologies Co.,Ltd. plan to reduce no more than 4 million shares, representing 1.37% of the total shares, corresponding to an amount of about 961 million yuan.
Jiangsu Cai Qin Technology Co.,Ltd., which hit a historical high of 46.6 yuan on May 20, announced a reduction plan on the evening of the 22nd. Two shareholders plan to collectively transfer 9.7678 million shares via inquiry, corresponding to an amount of about 383 million yuan. Similarly, for Crystal Growth & Energy Equipment Inc., shareholder Xinrui Jicheng (Xiamen) Venture Capital Partnership plans to transfer 2.7673 million shares via inquiry, corresponding to an amount of about 185 million yuan.
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