Huaqin Technology (SH:603296) Mei Ri Jing Ji Xin Wen·2025-09-19 09:30Core 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 [1][2]. 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 share reduction period was initially set from August 18, 2025, to November 17, 2025, and the total reduction amount was not to exceed 4% of the company's total share capital [2]. - Following the reduction, the shareholding ratios of the five platforms decreased to 4.93%, 4.74%, 4.61%, 4.54%, and 4.2%, respectively, meaning they are no longer major shareholders [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 price closed at 94.28 yuan, reflecting a 16.68% increase from the IPO price, and the market capitalization was approximately 99.5 billion yuan [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, stating that these events are independent [5]. - The company indicated that the shareholding reductions were primarily driven by long-term employees seeking to improve their personal financial situations [5]. - The company aims to use the funds raised from the IPO for product-centric R&D, expanding and optimizing manufacturing networks, global strategic investments, and general corporate purposes [5].