CFMEE(SH:688630) Zhong Guo Jing Ji Wang·2025-10-09 06:46Core Viewpoint - Chip Microelectronics (芯碁微装) announced a share reduction plan by its controlling shareholder and chairman, Cheng Zhuo, due to personal funding needs, intending to sell up to 2,634,814 shares, representing no more than 2.00% of the total shares [1][2]. Summary by Sections Share Reduction Plan - Cheng Zhuo currently holds 36,787,490 shares, accounting for 27.92% of the total share capital [1]. - The planned reduction will occur through a combination of centralized bidding and block trading within three months after the announcement, starting 15 trading days post-announcement [1]. - The maximum number of shares to be sold via centralized bidding is limited to 1% of the total shares over any 90-day period, while block trading is capped at 2% [1]. Financial Implications - Based on the closing price of 141.34 yuan on September 30, the total cash raised from the share reduction could reach up to 372 million yuan [2]. - The company raised a total of 460 million yuan during its IPO, with a net amount of 416 million yuan after deducting issuance costs [3]. - The total fundraising from both the IPO and subsequent private placements amounts to 1.258 billion yuan [5]. Recent Developments - On September 16, 2025, Chip Microelectronics announced that its application for issuing overseas listed shares (H-shares) was accepted by the China Securities Regulatory Commission [6]. - The company submitted its application for H-share listing on the Hong Kong Stock Exchange on August 31, 2025 [6].