As the A-share semiconductor sector continues its strong performance, shareholders of multiple companies have collectively announced plans to reduce their holdings.
On the evening of May 22nd, several listed companies in the semiconductor supply chain, including AMEC (688012.SH), Montage Technology (688008.SH), ASR Microelectronics (688220.SH), Changxin Xincai (300548.SZ), Canqin Technology (688182.SH), and Jingsheng Shares (688478.SH), disclosed shareholder reduction plans. These companies are leading players across various segments such as semiconductor equipment, chip design, and materials.
This wave of sell-off announcements comes against the backdrop of a significant recent rally in the semiconductor sector. This week, semiconductors have emerged as the strongest theme in the A-share market, with numerous 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 all-time high on the same day. At the individual stock level, 46 semiconductor stocks reached new historical price highs this week, primarily concentrated in the equipment, materials, and design segments. AMEC and Montage Technology saw their share prices reach new historical highs this week, with AMEC's market capitalization briefly exceeding 300 billion yuan. ASR Microelectronics reached an intraday high of 129.49 yuan on the 21st, just 0.62 yuan shy of its historical peak set on its listing day (130.11 yuan). The stock has surged 72.5% since April. Driven by market enthusiasm for silicon carbide concepts, Jingsheng Shares has also soared 134% since April, reaching a record high of 79.9 yuan on May 15th.
A notable characteristic of this round of reduction announcements is that several companies have opted for the inquiry transfer method. Montage Technology, Canqin Technology, and Jingsheng Shares all released plans for shareholder inquiry transfers, rather than the traditional announcements for centralized bidding or block trade reductions.
Compared to standard reduction methods, inquiry transfers have distinct features. Firstly, they are targeted exclusively at professional institutional investors, not involving retail investors in the secondary market, which minimizes direct impact on the share price. Secondly, shares acquired by transferees through inquiry transfers are subject to a six-month lock-up period, avoiding short-term selling pressure and reducing disruption to secondary market prices.
Apart from the three companies using inquiry transfers, the remaining four companies have chosen traditional reduction methods. Changxin Xincai, GigaDevice (301095.SZ), AMEC, and ASR Microelectronics announced that shareholders would reduce holdings through a combination of centralized bidding and block trades. Among them, AMEC released two separate announcements: one for a major shareholder reduction plan and another for a reduction plan by directors, supervisors, and senior management, involving seven executives including Chairman Yin Zhiyao.
Based on the latest closing prices, the total planned reduction scale for these seven companies amounts to approximately 126.92 billion yuan. The semiconductor equipment leader, AMEC, has the largest planned reduction, with proceeds estimated at 60 billion yuan.
Memory interface chip leader Montage Technology has the second-largest reduction scale. Shareholders plan to reduce holdings worth approximately 33.24 billion yuan.
Alibaba is once again reducing its stake in ASR Microelectronics after a six-month interval. As the company's largest shareholder, Alibaba plans to sell no more than 12.549 million shares, representing 3% of the total share capital. Based on the latest closing price of 115.75 yuan, this amounts to roughly 1.453 billion yuan.
The reduction scales for the other companies are relatively smaller. The actual controller of GigaDevice, their concerted parties, directors, and senior management plan to collectively reduce no more than 3.6525 million shares, representing 1.85% of the total share capital, corresponding to about 376 million yuan.
Shareholders Zhu Wei and his spouse Wang Xiaohong of "ten-bagger" stock Changxin Xincai plan to reduce no more than 4 million shares, representing 1.37% of the total share capital, corresponding to approximately 961 million yuan.
Canqin Technology's share price hit a record high of 46.6 yuan on May 20th. On the evening of the 22nd, the company announced a reduction plan where two shareholders plan to conduct an inquiry transfer of 9.7678 million shares in total, corresponding to about 383 million yuan.
Similarly, for Jingsheng Shares, shareholder Xinrui Jicheng (Xiamen) Venture Capital Partnership (Limited Partnership) plans an inquiry transfer of 2.7673 million shares, corresponding to approximately 185 million yuan.
(Disclaimer: The content and data in this article are for reference only and do not constitute investment advice. Please verify before use. Any actions taken based on this information are at your own risk.)
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