Core Viewpoint - The optical communication module sector is leading the market with a rise of 6.26%, indicating strong investor interest and potential growth in this industry [2] Company Performance - Zhongji Xuchuang saw a significant increase of 11.37% in its stock price, reflecting positive market sentiment towards the company [2] - Dongtianwei experienced a rise of 10.47%, suggesting strong performance and investor confidence [2] - Changxin Bochuan's stock increased by 10.24%, indicating robust growth potential [2] - Other companies such as Huilv Ecology, Yandongwei, and Qiangda Circuit also saw gains exceeding 7%, highlighting a broader positive trend in the sector [2]

Core Viewpoint - The AI Fund Yongying State-Owned Enterprise Opportunity Selection Mixed Fund A (023824) reported a profit of 886,700 yuan for Q3 2025, with a weighted average profit per fund share of 0.0105 yuan, indicating a net value growth rate of 1.05% during the reporting period [3]. Fund Performance - As of the end of Q3 2025, the fund's scale was 84.97 million yuan, with a unit net value of 0.975 yuan as of October 21 [3]. - The fund manager, Wang Wenlong, currently manages three funds [3]. Investment Strategy - The fund's investment strategy focuses on "valuation reconstruction + growth breakthrough," with three main areas of emphasis: 1. High-quality state-owned enterprises undergoing asset integration and upgrades, particularly those with opportunities for value reassessment through asset injection [3]. 2. Technology innovation-driven state-owned enterprises, focusing on leading stocks with attributes of industrial chain leaders in new productivity directions [3]. 3. Stable holding positions in core assets [3]. Top Holdings - As of the end of Q3 2025, the fund's top ten holdings included: 1. Dongli New Science 2. Yandong Micro 3. Northern Huachuang 4. Kaipu Cloud 5. Huahong Semiconductor 6. AVIC Shenyang Aircraft 7. Shanda Diwei 8. Guodun Quantum 9. Zhongke Shuguang 10. GF Securities [3].

Core Insights - On October 20, no A-share listed companies disclosed any increase in shareholding, while 18 companies announced share reductions [1][3] Group 1: Companies with Share Reductions - Dingyang Technology: Shareholders Qin Ke, Shao Haitao, and Zhao Yafeng plan to transfer 2.00% of their shares [3] - Jifeng Technology: Wang Xinming, Wang Hongyan, and their concerted action partner, Shan Nan Shenyu, intend to reduce their holdings by up to 3% [3] - Jiaze New Energy: Shareholder GLP plans to reduce its stake by up to 3% [3] - Meng Tian Home: The controlling shareholder's concerted action partner intends to reduce its holdings by up to 0.77% [3] - Liaoning Energy: Shareholder Liaoning Jiao Investment plans to reduce its stake by up to 1% [3] - Blue Arrow Electronics: Shareholders plan to reduce their holdings by up to 3% [3] - Longhua Technology: Major shareholder General Group plans to reduce its stake by up to 0.97% of the total share capital [3] - Zhekuang Co.: Shareholders plan to collectively reduce their holdings by up to 3% [3] - Shannon Chip Creation: The third-largest shareholder, New Momentum Fund, intends to reduce its stake by up to 1% [3] - Tongji Technology: Plans to reduce up to 0.71% of the repurchased shares [3] - Yandong Micro: The National Integrated Circuit Fund has reduced its stake by 1% [3] - Xiyu Tourism: Shareholder Xinjiang Kunlun Investment Development Partnership plans to reduce its holdings by up to 3% [3] - Nanjing Julong: Shareholder Suhao Fashion plans to reduce its stake by up to 2.94% [3] - Shen Shen Fang A: Controlling shareholder Shentou Investment plans to reduce its stake by up to 1% [3] - Yihe Da: The controlling shareholder's concerted action partner intends to reduce its holdings by up to 2% [3] - Huilv Ecology: Ningbo Huining has completed a reduction of 2.7% within three months [3] - Baolingbao: Shareholder Park Futong plans to reduce its stake by up to 3% [3]

Core Insights - The National Integrated Circuit Fund has completed a share reduction in Yandong Microelectronics, decreasing its holding from 7.08% to 6.08% [1] Summary by Sections - **Share Reduction Details** - The National Integrated Circuit Fund has reduced its stake by 14.2762 million shares, which represents 1% of the company's total share capital [1] - The share reduction plan has been fully implemented as of October 20, 2025 [1]

Core Insights - The National Integrated Circuit Fund has completed a reduction of its stake in Yandong Microelectronics by 1% [1] - The reduction involved the sale of 14.2762 million shares, bringing the fund's ownership down from 7.08% to 6.08% [1] Summary by Categories Shareholding Changes - The National Integrated Circuit Fund executed a share reduction plan, successfully selling 14.2762 million shares [1] - Following the reduction, the fund's total shareholding percentage decreased from 7.08% to 6.08% [1] Company Information - Yandong Microelectronics is listed under the stock code 688172.SH [1]

Core Points - Yandong Microelectronics (688172.SH) announced that its shareholder, the National Integrated Circuit Industry Investment Fund, has completed a share reduction plan, selling a total of 14.2762 million shares, which accounts for 1% of the company's total share capital [1] - Following the completion of this reduction, the shareholding percentage of the National Integrated Circuit Fund decreased from 7.08% to 6.08% [1]

Core Viewpoint - The company, Yandong Microelectronics, announced that the National Integrated Circuit Fund has completed a share reduction plan, decreasing its stake in the company from 7.08% to 6.08% by selling 14,276,180 shares, which is 1% of the total share capital [1] Group 1 - The National Integrated Circuit Fund reduced its holdings in Yandong Microelectronics by 14,276,180 shares [1] - The total share capital of Yandong Microelectronics is affected by this reduction, with the fund's shares decreasing from 101,023,382 to 86,747,202 [1] - The completion of this share reduction plan is set to be effective until October 20, 2025 [1]

证券代码：688172 证券简称：燕东微 公告编号：2025-078 北京燕东微电子股份有限公司 大股东持股基本情况 本次减持计划实施前，持股 5%以上股东国家集成电路产业投资基金股份有 限公司（以下简称"国家集成电路基金"）持有北京燕东微电子股份有限公司（以 下简称"公司"）101,023,382 股股票，占公司总股本的 7.08%。上述股份来源为 公司首次公开发行股票并上市前取得，国家集成电路基金非公司第一大股东。 减持计划的实施结果情况 公司于 2025 年 7 月 10 日和 2025 年 10 月 11 日在上海证券交易所网站 （www.sse.com.cn）披露了《持股 5%以上股东减持股份计划公告》（公告编号： 2025-051）及《关于持股 5%以上股东调整减持股份计划之减持数量的公告》（公 告编号：2025-075）。公司 5%以上股东国家集成电路基金拟通过集中竞价或大 宗交易的方式进行减持，预计减持股份不超过 14,276,180 股，减持股份不超过公 司总股本比例 1%，自减持计划披露之日起 15 个交易日之后的三个月内（2025 年 7 月 31 日至 2025 年 10 月 31 日 ...

证券代码：688172 证券简称：燕东微 公告编号：2025-077 北京燕东微电子股份有限公司 关于 2024 年限制性股票激励计划部分激励对象所持已获授 但尚未解除限售的限制性股票回购注销实施 暨股本变动的公告 本公司董事会及全体董事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。 （二）本次回购注销的相关人员、数量 | 回购股份数量 | 注销股份数量 | | 注销日期 | | | | --- | --- | --- | --- | --- | --- | | 万股 36 | 万股 36 | 年 2025 | 月 10 | 23 | 日 | 一、本次限制性股票回购注销的决策与信息披露 2025 年 8 月 28 日，北京燕东微电子股份有限公司（以下简称"公司"）召开 第二届董事会第十五次会议，审议通过了《关于审议回购注销部分限制性股票的 议案》。根据《上市公司股权激励管理办法》（以下简称"《管理办法》"）、 《北京燕东微电子股份有限公司 2024 年限制性股票激励计划（草案）》（以下 简称"《激励计划（草案）》"或"本激励计划"）的相关规定， ...

北京市大嘉律师事务所 北京市大嘉律师事务所 关于北京燕东微电子股份有限公司 2024 年限制性股票激励计划 北京市大嘉律师事务所 为出具本法律意见书,本所律师根据有关法律、行政法规、规范 性文件的规定和本所业务规则的要求,本着审慎性及重要性原则对与 本次回购注销实施情况有关的文件资料和事实进行了核查和验证。 为出具本法律意见书,本所律师特作如下声明: 1.本所律师在工作过程中,已得到燕东微的保证:即公司已向本 所律师提供了本所律师认为制作法律意见书所必需的原始书面材料、 副本材料和口头证言,其所提供的文件和材料是真实、完整和有效的, 且无隐瞒、虚假和重大遗漏之处。 2.本所律师依据本法律意见书出具日以前已经发生或者已经存 在的事实和《公司法》《证券法》等国家现行法律、法规、规范性文 件及中国证监会的有关规定发表法律意见。 部分限制性股票回购注销实施情况的 法律意见书 致:北京燕东微电子股份有限公司 北京市大嘉律师事务所接受北京燕东微电子股份有限公司(以下 简称"燕东微"或"公司"）的委托,根据《中华人民共和国公司法》 (以下简称《公司法》)、《中华人民共和国证券法》(以下简称《证 券法》）、《上市公司股权激励 ...