Core Viewpoint - The company,拓荆科技, announced that 11 employee stockholding platforms plan to reduce their holdings of the company's shares due to their own funding needs, with a maximum reduction of 2.8116 million shares, representing up to 1% of the total share capital [1] Summary by Relevant Categories Company Actions - The employee stockholding platforms will reduce their holdings through centralized bidding within three months after the announcement, starting 15 trading days from the disclosure date [1] Shareholder Impact - The planned reduction involves a maximum of 2.8116 million shares, which is equivalent to no more than 1% of the company's total share capital [1]

证券代码：688072 证券简称：拓荆科技 公告编号：2025-060 拓荆科技股份有限公司 股东集中竞价减持股份计划公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律 责任。 重要内容提示： 股东持股的基本情况 截至本公告披露日，公司股东共青城芯鑫和投资合伙企业（有限合伙）持有 公司股份 2,055,398 股，占公司总股本的 0.73%；共青城芯鑫全投资合伙企业（有 限合伙）持有公司股份 2,271,749 股，占公司总股本的 0.81%；共青城芯鑫龙投 资合伙企业（有限合伙）持有公司股份 2,254,284 股，占公司总股本的 0.80%； 共青城芯鑫成投资合伙企业（有限合伙）持有公司股份 2,223,051 股，占公司总 股本的 0.79%；共青城芯鑫旺投资合伙企业（有限合伙）持有公司股份 2,164,894 股，占公司总股本的 0.77%；共青城芯鑫盛投资合伙企业（有限合伙）持有公司 股份 2,164,950 股，占公司总股本的 0.77%；共青城芯鑫阳投资合伙企业（有限 合伙）持有公司股份 2,231,2 ...

Core Viewpoint - TuoJing Technology (688072) announced that its employee stock ownership platforms, including QiongCheng XinXin and Investment Partnership (Limited Partnership), plan to reduce their holdings by up to 2.8116 million shares, representing no more than 1% of the company's total share capital [1] Summary by Category - **Company Announcement** - TuoJing Technology disclosed a plan for share reduction by employee stock ownership platforms [1] - The total number of shares to be reduced is capped at 2.8116 million [1] - This reduction accounts for a maximum of 1% of the company's total share capital [1]

Core Viewpoint - The company,拓荆科技, announced that 11 employee stockholding platforms plan to reduce their holdings of the company's shares due to funding needs, with a maximum reduction of 2.8116 million shares, representing up to 1% of the total share capital [1] Summary by Category - **Share Reduction Plan** - The employee stockholding platforms intend to reduce their holdings within three months after a 15 trading day period from the announcement date [1] - The total number of shares to be reduced is capped at 2.8116 million shares [1] - This reduction will comply with legal and regulatory requirements [1]

Core Viewpoint - The company,拓荆科技, announced that 11 employee stockholding platforms plan to reduce their holdings of the company's shares due to funding needs, with a maximum reduction of 2.8116 million shares, representing up to 1% of the total share capital [1] Summary by Category - **Share Reduction Plan** - The employee stockholding platforms intend to reduce their holdings within three months after the announcement, starting from 15 trading days post-disclosure [1] - The total number of shares to be reduced is capped at 2.8116 million [1] - This reduction will comply with legal and regulatory requirements [1]

Core Insights - The stock price of Tuojing Technology increased by 0.8%, reaching a new high of 266.1 CNY per share [1] - The company's total market capitalization surpassed 748.17 billion CNY [1] - The trading volume amounted to 3.68 billion CNY [1]

Group 1 - The core point of the news is that拓荆科技's stock price increased by 5.25% to 277.85 CNY per share, with a trading volume of 1.041 billion CNY and a market capitalization of 77.723 billion CNY as of September 30 [1] - 拓荆科技, established on April 28, 2010, specializes in the research, production, sales, and technical services of high-end semiconductor equipment, with 96.47% of its revenue coming from semiconductor equipment and 3.53% from other sources [1] Group 2 - Longsheng Fund has a significant holding in 拓荆科技, with its Longsheng Electronic Information Industry Mixed A Fund (080012) reducing its stake by 9,990 shares in the second quarter, holding 193,000 shares, which represents 3.1% of the fund's net value, ranking as the ninth largest holding [2] - The Longsheng Electronic Information Industry Mixed A Fund has achieved a year-to-date return of 37.54%, ranking 2347 out of 8167 in its category, and a one-year return of 56.08%, ranking 1605 out of 8010 [2]

Core Viewpoint - The company held its third extraordinary general meeting of shareholders in 2025, where all proposed resolutions were approved without any rejections [2][4]. Meeting Details - The meeting took place on September 29, 2025, at the company's conference room in Shenyang, Liaoning Province [2]. - The meeting was convened by the board of directors and chaired by Chairman Lv Guangquan, utilizing a combination of on-site and online voting methods [2][3]. Attendance - All 7 current directors and 3 supervisors attended the meeting, along with the board secretary and other senior management [3]. Resolutions Reviewed - The following key resolutions were passed: - Approval for the company to issue A-shares to specific targets [4]. - Approval of the issuance plan, including types and par value of shares, issuance method, timing, and pricing principles [5][6]. - Approval of the use of raised funds and the distribution of retained earnings prior to the issuance [6][7]. - Authorization for the board to handle matters related to the issuance of A-shares [7]. - Approval of a plan for future shareholder dividend returns for 2025-2027 [7]. - Approval of a report on the use of previously raised funds [6][7]. Legal Verification - The meeting was witnessed by Beijing Zhonglun Law Firm, confirming that all procedures and resolutions complied with legal and regulatory requirements [9].

Core Viewpoint - A significant reduction in shareholding is occurring at Tuojing Technology, a leading semiconductor equipment company on the Sci-Tech Innovation Board, coinciding with its announcement of a 4.6 billion yuan private placement plan, indicating potential internal concerns about the company's valuation and future performance [1][3]. Group 1: Management and Shareholder Actions - Seven key executives, including General Manager Liu Jing and Secretary Zhao Xi, plan to collectively reduce their holdings, while an employee shareholding platform recently transferred shares worth 1 billion yuan, indicating a rare "internal group exit" phenomenon [1]. - Prior to the private placement announcement, major shareholders and executives, including Liu Jing and five vice presidents, planned to reduce their holdings by up to 146,500 shares, representing no more than 1% of the total share capital [1]. - The simultaneous action of eight individuals in reducing their holdings suggests a significant "group" characteristic, despite the absolute value being relatively low [1]. Group 2: Employee Shareholding Platform Activity - The employee shareholding platform, represented by "Qiongqincheng Xinxin" and "Shenyang" systems, sold 6.9932 million shares in August, accounting for 2.5% of the total share capital, at a transfer price of 144.92 yuan per share, totaling over 1 billion yuan [2]. - This transfer price represents a 101.6% premium over the IPO price of 71.88 yuan in 2022, but a 34% discount compared to mid-September stock prices, indicating a strategy of "discount bulk selling" for quick cash realization [2]. - The shares sold originated from early equity incentives, with some original costs as low as 30 yuan per share, resulting in a paper profit exceeding 300% for some core employees [2]. Group 3: Market Valuation and Investor Sentiment - As of September 26, Tuojing Technology's adjusted stock price exceeded 550 yuan per share, reflecting a cumulative increase of 660% since the 2022 IPO, with a dynamic price-to-earnings ratio of 110, significantly higher than the semiconductor equipment industry's average of 85 [2]. - The high valuation combined with substantial insider selling raises concerns for investors, as historical cases suggest that large-scale cash-outs by core teams often coincide with peak stock prices [3]. - The ability of Tuojing Technology to pass the private placement plan at the shareholder meeting and address market skepticism regarding "money-grabbing financing" will be crucial for its future stock price trajectory [3].

证券代码：688072 证券简称：拓荆科技 公告编号：2025-059 拓荆科技股份有限公司 2025年第三次临时股东大会决议公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 9 月 29 日 （二） 股东大会召开的地点：辽宁省沈阳市浑南区水家 900 号拓荆科技股份有 限公司会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 243 | | --- | --- | | 普通股股东人数 | 243 | | 2、出席会议的股东所持有的表决权数量 | 141,835,581 | | 普通股股东所持有表决权数量 | 141,835,581 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 50.9355 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 50.935 ...