Huaqin Technology (SH:603296) Mei Ri Jing Ji Xin Wen·2025-09-19 08:51Core 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][5]. 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 3.578 billion yuan [2]. - The total number of shares reduced was less than 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 ratios of 4.93%, 4.74%, 4.61%, 4.54%, and 4.20% 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 CICC and Bank of America as joint sponsors [1][5]. - The company's A-share IPO price was 80.8 yuan per share, and the stock price 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 [3]. - As of September 18, 2023, the stock closed at 94.28 yuan, reflecting a 16.68% increase from the IPO price, and reached a market capitalization of 99.5 billion yuan [3]. Group 3: Company Statements and Future Plans - 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 [5]. - The company plans to use the funds raised from the IPO for product-centric R&D, expanding and optimizing its manufacturing network, global strategic investments, and general corporate purposes [5][6]. - The company expressed intentions to improve its shareholder structure and broaden its international development scope, supported by government policies [6].