Huaqin Technology (SH:603296) Mei Ri Jing Ji Xin Wen·2025-09-18 14:11Core Viewpoint - Huaqin Technology announced the early termination of the share reduction plan by five employee shareholding platforms, which collectively cashed out approximately 3.578 billion yuan, coinciding with the company's recent IPO application in Hong Kong [1][2][4]. Group 1: Share Reduction Details - The five employee shareholding platforms reduced their holdings by a total of 38.96 million shares, resulting in a cash-out of approximately 3.578 billion yuan [2]. - The total number of shares reduced was within the previously announced limit of 40.63 million shares, which represented no more than 4% of the company's total share capital [2]. - Following the reduction, the shareholding ratios of the five platforms fell below 5%, with specific holdings of 4.93%, 4.74%, 4.61%, 4.54%, and 4.2% respectively [2]. Group 2: IPO and Market Performance - Huaqin Technology submitted its IPO application to the Hong Kong Stock Exchange on September 16, 2023, with plans to use the raised funds for product-centric R&D, expanding manufacturing networks, and general corporate purposes [1][4]. - The company's A-share IPO price was 80.8 yuan per share, and as of September 18, 2023, the stock price was 94.28 yuan, reflecting a 16.68% increase from the IPO price [3]. - The stock experienced fluctuations, reaching a historical low of 42.84 yuan on September 9, 2024, before rebounding to a high of 105.98 yuan in late February 2023 [3]. Group 3: Company Statements - The company clarified that the early termination of the share reduction plan is unrelated to its IPO plans in Hong Kong, emphasizing that these events are independent [4]. - The employee shareholding platforms consist mainly of long-term employees who may have personal financial needs, leading to their decision to reduce holdings [4]. - The company aims to improve its shareholder structure and broaden its international development scope through the upcoming H-share listing [4].