The most visited stock in this round of A-share market gains, Yuanjie Semiconductor Technology Co.,Ltd. (688498.SH), has recently released the first share reduction plan by its actual controller.
According to the disclosure, controlling shareholder and actual controller ZHANG XINGANG and his concerted action persons Qin Yansheng, Qin Weixing, and Zhang Xinying plan to reduce their holdings by no more than 288,500 shares in total, accounting for 0.2317% of the total share capital, with a reduction amount of about 490 million yuan.
This reduction accounts for 0.88% of the four individuals' combined holdings, a relatively low proportion compared with their 26.32% controlling stake.
However, this reduction plan is the first important shareholder reduction plan since the company listed in December 2022.
At the same time, the company's stock price corresponds to a price-to-earnings ratio (TTM) of 281.56 times.
The actual controller's reduction running parallel with high valuation may mean that the upside for its valuation is already very limited, and the third-quarter results to be disclosed soon may be the key for the market to price this optical chip leader.
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