Shareholder Reductions - Zhang Fan from 壹网壹创 plans to reduce his holdings by no more than 2.5% [1] - Yan Jun, honorary chairman and chief scientist of 航宇微, intends to reduce his holdings by no more than 1.66% [1] - 长安信托·中保投1号信托, a shareholder of 紫光股份, plans to reduce its holdings by no more than 1% [1] - Jiang Shuguang, deputy general manager of 崇达技术, plans to reduce his holdings by no more than 200,000 shares [1] - 热景生物 intends to sell back repurchased shares not exceeding 1.8542 million shares [1] - Yuan Meihe, a shareholder of 欧科亿, plans to reduce his holdings by no more than 1.89% [1] - Zhu Fengxue and his concerted actions from 中曼石油 will collectively reduce their holdings by 0.35% [1] - Tokyo Guorui, a shareholder of 燕东微, has already reduced its holdings by 0.88% [1] - Huaguang New Materials' shareholder, Huan Guang Investment, has cumulatively reduced its holdings by 1.60% [1] - Jiayuan Group has reduced its holdings in 吉祥航空 by 8.6065 million shares [1] - Longgao Electric New from 富特科技 has cumulatively reduced its holdings by 1.00% [1] - Actual controller Shi Huiqing from 可川科技 has reduced his holdings by 1.05% [1] - Lu Xinchun, a shareholder of 华海清科, has reduced his holdings by 3.3156 million shares [1] Other Corporate Actions - 建设机械 has terminated the issuance of shares to specific objects [1] - 蒋伟, the controlling shareholder of 吴海生科, has been fined 14.6292 million yuan by the China Securities Regulatory Commission [1]

Core Viewpoint - Unisplendour Corporation Limited (紫光股份) announced that its shareholder, Chang'an International Trust Co., Ltd., plans to reduce its stake in the company by selling up to 28.6008 million shares, which represents approximately 1.00% of the total share capital, within three months after the announcement date [1]. Group 1 - The shareholder, Chang'an International Trust, intends to execute the share reduction through a centralized bidding method [1]. - The planned reduction will take place within a timeframe of three months following the disclosure, starting 15 trading days after the announcement [1].

Summary of Key Points Core Viewpoint - On December 23, several A-share listed companies disclosed their share buyback and reduction plans, indicating varying levels of confidence in their respective companies' future performance [1]. Group 1: Share Buybacks - Bowe Storage has completed a share buyback of 140 million yuan and plans to cancel the repurchased shares [2][3]. - BioShares intends to increase its stake in the company by 50 million to 100 million yuan [2][3]. - Huaxin Cement plans to buy back shares worth no less than 200 million yuan and no more than 400 million yuan [2][3]. - Weimais plans to repurchase shares for an amount between 50 million and 100 million yuan [2][3]. - Nova Star Cloud has secured financing support for a share buyback of up to 135 million yuan [2][3]. Group 2: Share Reductions - Hangyu Micro's shareholders Yan Jun and Wu Yuqi plan to reduce their stakes by no more than 1.66% and 0.36%, respectively [4]. - Yiwang Yichuang's shareholder Zhang Fan intends to reduce his stake by no more than 2.50% [4]. - Quan Feng Technology's fourth-largest shareholder, Hesheng Health, reduced its holdings by 31.89 million shares from December 19 to December 22 [4]. - Unisplendour's shareholder Chang'an Trust plans to reduce its stake by no more than 1% [4]. - Happy Home's shareholder has preliminarily set the transfer price at 19.43 yuan per share [4]. - Okoyi's shareholder Yuan Meihe plans to reduce his stake by no more than 1.89% [4].

Core Viewpoint - Chang'an International Trust Co., Ltd., a shareholder holding 5.5% of Unisplendour Corporation (000938), announced on December 23 that it will reduce its stake by up to 28.6008 million shares, representing approximately 1% of the company's total share capital [1] Summary by Category Company Actions - Chang'an Trust's plan involves a reduction of its holdings through centralized bidding [1] Shareholder Information - The reduction will affect a shareholder that currently holds 5.5% of Unisplendour [1] - The total number of shares to be reduced is up to 28.6008 million [1]

股票简称：紫光股份 股票代码：000938 公告编号：2025－076 紫光股份有限公司 关于持股 5%以上股东减持股份预披露公告 长安国际信托股份有限公司（代"长安信托·中保投 1 号信托"）保证向本公司提 供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 持有紫光股份有限公司 157,304,393 股（占公司总股本的比例为 5.50%）的股东长 安国际信托股份有限公司-长安信托·中保投 1 号信托（以下简称"长安信托·中保投 1 号信托"）计划在本公告披露之日起 15 个交易日后的 3 个月内通过集中竞价方式减持 公司股份不超过 28,600,798 股（约占公司总股本的 1.00%）。 紫光股份有限公司（以下简称"公司"）于近日接到长安国际信托股份有限公司 （代"长安信托·中保投 1 号信托"）的《减持紫光股份有限公司股份计划告知函》， 现将相关情况公告如下： 一、本次减持计划股东基本情况 1、股东名称：长安国际信托股份有限公司-长安信托·中保投 1 号信托。 2、股东持股情况：截至本公告披露之日，长安信 ...

Core Viewpoint - The announcement from Unisplendour Corporation indicates that a significant shareholder, Chang'an Trust, plans to reduce its stake in the company by up to 28,600,798 shares, which is approximately 1% of the total share capital, due to funding arrangement needs [1] Group 1 - Chang'an Trust holds 157,304,393 shares, representing 5.50% of the total share capital of Unisplendour Corporation [1] - The share reduction will occur within three months after the announcement, specifically from January 16, 2026, to April 15, 2026 [1] - The reduction will not lead to a change in control of the company and is not expected to significantly impact the governance structure, shareholding structure, or ongoing operations of the company [1]

Core Viewpoint - Unisplendour Co., Ltd. announced that its shareholder, Chang'an Trust - Zhongbao Investment No. 1 Trust, which holds 5.5% (157 million shares), plans to reduce its holdings by up to 28.6 million shares, representing no more than 1% of the total share capital, within three months from January 16 to April 15, 2026, due to funding arrangement needs [1] Summary by Categories - **Shareholder Reduction Plan** - Chang'an Trust intends to reduce its stake in Unisplendour by up to 28.6 million shares [1] - The reduction will occur through centralized bidding within a specified three-month period [1] - **Reason for Reduction** - The reduction is attributed to funding arrangement needs [1] - **Impact on Company Structure** - The planned reduction will not affect the company's governance, equity structure, or control [1]

Summary of UNIS (000938.SZ) Conference Call Company Overview - **Company**: UNIS (000938.SZ) - **Industry**: Technology, specifically focusing on AI servers and networking solutions Key Points Industry and Market Outlook - Positive outlook on AI server investments in the China market for 2026E, with expectations for UNIS to benefit from the infrastructure cycle [1] - Anticipation of increased investment in intelligent computing driving the ramp-up of 400G/800G data center switches [2] Product Development - UNIS is developing optical interconnection solutions, including CPO, NPO, and OCS products, with a focus on enhancing networking capabilities [2] - The company is advancing liquid-cooled full rack products to meet rising computing power demands and higher power consumption requirements [3] - The SuperPod product aims to support computing clusters with over 1,000 GPUs, co-developing with CSP customers [3] Financial Performance and Earnings Revisions - Net income for 2025E has been revised down by 19% due to lower gross margins (GM) and non-operating income estimates [4] - Expected lower GM in 2025E attributed to the ramp-up of lower-margin white-box products [4] - Revenue estimates for 2025E increased by 8% to Rmb111.24 billion, with further increases projected for subsequent years [8] - R&D expenses projected to grow at a CAGR of 11% from 2025E to 2030E, reflecting investment in new product development [4] Valuation and Price Target - Target price set at Rmb30.8, based on a target P/E multiple of 30.4x for 2026E, reflecting a correlation between P/E and EPS growth among peers [14] - The target price decrease is primarily due to lower 2026E EPS estimates at Rmb1.01, impacted by the white-box product ramp-up [14] Risks and Considerations - Key risks include the pace of China cloud capex expansion, competition dynamics, and the ramp-up of AI server shipments [14] Financial Metrics - Revenue projections for 2025E: Rmb111.24 billion, with net income revised to Rmb1.973 billion [8] - Gross margin expected to decline to 13.0% in 2025E from 14.5% in 2025 [8] - Operating margin projected to decrease to 3.5% in 2025E [8] Conclusion - UNIS is positioned to capitalize on the growing demand for AI infrastructure and networking solutions, despite facing challenges related to margin pressures and competition. The company maintains a neutral rating due to fair valuation amidst these dynamics [1][4][14]

Group 1 - The company has approved a guarantee for its wholly-owned subsidiary, Suzhou Unisplendour Digital Group Co., Ltd., to provide a total guarantee amount of up to RMB 1.06 billion for six subsidiaries' bank credit applications within 12 months from the shareholders' meeting held on May 20, 2025 [1][2] - Recently, Suzhou Unisplendour Digital signed a maximum guarantee contract with CITIC Bank Tianjin Branch, providing a joint liability guarantee for RMB 80 million for Unisplendour E-commerce's credit application, increasing the total guarantee balance to RMB 160 million [2][3] - The total amount of guarantees provided by the company and its subsidiaries is RMB 18.38 billion and USD 25.12 million, accounting for 270.79% of the company's equity attributable to shareholders as of the end of 2024 [4] Group 2 - The company has no overdue guarantees or guarantees involved in litigation, and there are no losses due to guarantees resulting from adverse judgments [5] - The board of directors believes that Unisplendour E-commerce has a sound internal control system and the ability to continue operations and repay debts, which helps mitigate risks associated with the guarantee [4][5] - The company has approved the proposal to provide guarantees for bank credit applications at the sixth temporary shareholders' meeting held on December 19, 2025, with 99.16% of the voting rights in favor [17]

证券日报网讯 12月19日晚间，紫光股份发布公告称，公司2025年第六次临时股东会审议通过《关于 2026年度日常业务外汇套期保值额度的议案》等多项议案。 （文章来源：证券日报） ...