Core Viewpoint - The major shareholder of Xiangnon Chip (SZ300475) plans to reduce its stake due to funding needs, which may impact the stock's performance in the short term [1][2] Company Summary - Xiangnon Chip's stock price reached a historical high of 107.8 CNY per share on October 17, 2023, and has seen a significant increase of 116.56% in September [1] - The New Momentum Fund holds approximately 23.79 million shares of Xiangnon Chip, representing 5.13% of the total share capital, and plans to reduce its holdings by up to 4.64 million shares (1% of total shares) within three months starting from the announcement date [1][2] - The New Momentum Fund acquired its shares at a price of 24.65 CNY per share, resulting in a potential cumulative return of about 290% based on the closing price of 96.21 CNY on October 20, 2023 [3] Industry Summary - The storage chip sector is experiencing a bullish trend, with several companies, including Demingli (SZ001309) and Bawei Storage (SH688525), reaching new historical highs [4] - Global storage chip prices have been rising over the past six months, with forecasts indicating a price increase of over 10% for server eSSD and a 10%-15% increase for DDR5 RDIMM in the fourth quarter of 2025 [4]

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]

Shareholder Reductions - Baolingbao's shareholder, Paofu Tong, plans to reduce holdings by no more than 3% [1] - Nanjing Julong's shareholder, Suhao Fashion, intends to reduce holdings by 2.94% [1] - Shen Shen Fang A's controlling shareholder plans to reduce holdings by no more than 1% [1] - Blue Arrow Electronics' shareholders, Yin Shengyu and Bilin Innovation, plan to collectively reduce holdings by no more than 3% [1] - Zhejiang Mining's shareholders, Chen Lianfang and Chen Ligang, intend to collectively reduce holdings by no more than 2.9999% [1] - Guangwei Composite's directors and senior management plan to collectively reduce holdings by no more than 450,000 shares [1] - Shannon Chip's New Energy Fund intends to reduce holdings by no more than 1% [1] - Xiyu Tourism's shareholder, Kunlun Investment, plans to reduce holdings by no more than 3% [1] - Mengtian Home's shareholder, Mengyue Investment, intends to reduce holdings by no more than 0.77% [1] - Liaoning Energy's Liaoning Jiaotou plans to reduce holdings by no more than 1% [1] - Jiazhe New Energy's shareholder, GLP, intends to reduce holdings by no more than 3% [1] - Guizhou Gas's Beijing Dongjia plans to reduce holdings by 8.822 million shares [1] - Huali Shares' shareholder, Xie Shaozhuang, plans to reduce holdings by 1.07% [1] Financial Performance - Hubei Broadcasting reported a net loss of 388 million yuan for the first three quarters [1] - Shanshui Technology's actual controller and chairman, Huang Guorong, has been subjected to criminal coercive measures [1]

格隆汇10月20日丨香农芯创(300475.SZ)公布，股东—无锡高新区新动能产业发展基金（有限合伙） （简称"新动能基金"）计划于本公告披露之日起15个交易日之后的3个月内（即2025年11月11日-2026年 2月10日）通过集中竞价方式减持公司股份不超过4,637,737股（占公司总股本的1%）。 ...

Economic Data Summary - In September, the GDP growth rate slowed to 4.8%, marking the lowest point in a year, while the cumulative GDP growth for the first three quarters reached 5.2% [3] - The industrial added value significantly exceeded expectations, growing by 6.5% year-on-year in September, supported by an increase in working days and strong export performance [4] - Fixed asset investment turned negative at -0.5% year-on-year for the first nine months, the first negative growth since mid-2020, with real estate investment in September dropping by 21.2%, a historical low [4] - Retail sales growth further slowed to 3.0%, the lowest since December last year, influenced by the timing of the Mid-Autumn Festival and a decrease in consumer spending [4] - Urban residents' disposable income grew by 4.5%, while spending increased by only 3.9%, indicating a savings rate of 38.3%, consistent with the past two years but higher than pre-pandemic levels [4] Market Trends - On October 20, A-shares saw collective gains, with the Shanghai Composite Index rising by 0.63%, Shenzhen Component by 0.98%, and ChiNext by 1.98% [8] - The coal and gas sectors experienced significant gains due to cold weather impacts, with coal prices rising, and expectations of supply tightening due to safety inspections [8] - The cultivated diamond sector saw a surge, with stocks like Huifeng Diamond hitting the daily limit [8] Company Performance - Keda Xunfei reported a net profit of 172 million yuan for Q3, a year-on-year increase of 202.40% [12] - Alloy Investment's Q3 net profit surged to 2.68 million yuan, up 4985.25% year-on-year [12] - China Shipbuilding's net profit for the first three quarters is expected to be between 4.08 billion and 4.68 billion yuan, reflecting a year-on-year increase of 106.93% to 137.36% [12] Industry Insights - The deep earth economy is gaining attention, focusing on the development of deep earth resources and related industries, as highlighted by the Ministry of Natural Resources [13] - Goldman Sachs noted China's strong influence over rare earths, suggesting that the country is unlikely to abandon proposed controls, which could lead to various market responses [7] Stock Market Dynamics - The net inflow of main funds reached 37.95 billion yuan, with the electronics sector seeing the largest inflow [17] - The top five sectors for net inflow included electronics, communication, machinery, power equipment, and coal [17] - Northbound trading totaled 234.73 billion yuan, with significant transactions in banks and rare earths [20]

人民财讯10月20日电，香农芯创（300475）10月20日公告，持股5.13%的股东—无锡高新区新动能产业 发展基金(有限合伙)(简称"新动能基金")计划15个交易日之后的3个月内，通过集中竞价方式，减持公司 股份不超过463.77万股(占公司总股本的1%)。 ...

智通财经APP讯，香农芯创(300475.SZ)公告，公司股东无锡高新区新动能产业发展基金(有限合伙)(简 称"新动能基金")计划于2025年11月11日-2026年2月10日通过集中竞价方式减持公司股份不超过463.77万 股(占公司总股本的1%)。 ...

Core Viewpoint - The company, Shannon Semiconductor (300475.SZ), announced that its shareholder, Wuxi High-tech Zone New Momentum Industry Development Fund (Limited Partnership), plans to reduce its stake in the company by up to 4.6377 million shares, representing 1% of the total share capital, through centralized bidding from November 11, 2025, to February 10, 2026 [1] Summary by Categories - **Shareholder Action** - The New Momentum Fund intends to reduce its holdings in Shannon Semiconductor by a maximum of 4.6377 million shares [1] - This reduction accounts for 1% of the company's total share capital [1] - **Timeline** - The planned reduction of shares will occur between November 11, 2025, and February 10, 2026 [1]

香农芯创公告，持股5%以上股东无锡高新区新动能产业发展基金（有限合伙）计划于本公告披露之日 起15个交易日之后的3个月内（即2025年11月11日-2026年2月10日）通过集中竞价方式减持公司股份不 超过4637737股，占公司总股本的1%。 (本文来自第一财经) ...

香农芯创10月20日晚间公告，公司持股5%以上股东无锡高新区新动能产业发展基金（有限合伙）计划 自本公告披露之日起15个交易日后的3个月内（即2025年11月11日至2026年2月10日），通过集中竞价方 式减持公司股份不超过4,637,737股，即不超过公司总股本的1%。减持价格将根据减持时的市场价格确 定，减持原因为资金需要。 ...