Core Viewpoint - The recent share reduction by multiple executives at Jing Sheng Mechanical & Electrical (晶盛机电) raises concerns amidst its ongoing transition into the semiconductor industry, with the company facing significant revenue declines in its core photovoltaic business [2][4]. Group 1: Executive Share Reduction - On October 17, Jing Sheng Mechanical & Electrical announced that five executives, including Vice President Zhu Liang, plan to reduce their holdings by up to 2.7762 million shares, representing 0.21% of the total share capital [2]. - The estimated cashing out from this reduction is approximately 113 million yuan, with Zhu Liang's portion being around 43.8845 million yuan [2]. - The company stated that the reason for the share reduction is the executives' personal financial needs, as they have not sold shares since 2019 and have participated in two rounds of equity incentives [2]. Group 2: Company Performance and Semiconductor Transition - As of October 17, the company's stock price fell by 7.62% to 37.71 yuan per share, resulting in a market capitalization of 49.4 billion yuan [4]. - Jing Sheng Mechanical & Electrical has been expanding into the semiconductor sector, with its subsidiary Jing Hong Precision serving as a significant supplier to semiconductor equipment manufacturer Xin Kailai [5]. - The company has achieved domestic production of 8-12 inch silicon wafer equipment and is extending its reach into chip manufacturing and advanced packaging [5]. - Despite the transition, the company reported a 42.85% year-on-year decline in revenue for the first half of the year, totaling 5.799 billion yuan, and a 69.52% drop in net profit to 639 million yuan [7]. - The decline in performance is attributed to the cyclical downturn in the photovoltaic industry and significant price drops in material products, while the semiconductor equipment business is still in the development phase [7]. Group 3: Future Orders and Market Position - As of the latest update, the company has over 3.7 billion yuan in unfulfilled contracts for integrated circuit and compound semiconductor equipment, indicating a long execution cycle for these orders [6]. - The company has not disclosed specific revenue figures for its semiconductor equipment business, but it has indicated that the proportion of semiconductor business revenue is increasing while photovoltaic business revenue is decreasing [7]. - There have been inquiries regarding the company's indirect holdings in Moole Technology, which the company confirmed through its controlling shareholder's investment fund, but denied any direct or indirect investment by itself [7].
高管拟减持套现超1亿元 光伏设备龙头回应与新凯来合作情况