Zbit Semiconductor(SH:688416) Zhong Guo Jing Ji Wang·2025-10-23 07:52Core Viewpoint - Hengshuo Co., Ltd. (688416.SH) announced a shareholder reduction plan due to personal funding needs, involving significant share reductions by major shareholders [1][2]. Shareholder Reduction Plans - Shareholder Dong Xiangyu plans to reduce up to 1.75% of the total shares (1,450,905 shares), with a maximum of 829,294 shares through centralized bidding and 621,611 shares via block trading [1]. - Shareholder Hefei Zhong'an Luyang Venture Capital Fund plans to reduce up to 0.69% of the total shares (573,857 shares) through block trading [1]. - Shareholder Ningbo Meishan Free Trade Port Area Tianying Hosheng Venture Capital plans to reduce up to 0.56% of the total shares (463,121 shares) through centralized bidding [1]. Shareholding Structure - As of the announcement date, Dong Xiangyu holds 6,073,482 shares (7.32% of total shares), Hefei Zhong'an holds 2,402,161 shares (2.90%), and Tianying Hosheng holds 1,938,622 shares (2.34%) [2]. - The shares held by these shareholders were acquired before the company's initial public offering, with different lock-up periods for each shareholder [2]. Financial Implications - Based on the last trading day price of 55.71 CNY per share, the estimated total reduction amounts to approximately 139 million CNY for all three shareholders [2]. - The company went public on August 29, 2022, with an initial share price of 65.11 CNY, and is currently in a state of decline [3]. Fundraising and Use of Proceeds - Hengshuo raised a total of 1.35 billion CNY in its IPO, with a net amount of approximately 1.21 billion CNY after deducting expenses [3]. - The funds were intended for various R&D projects, including NOR flash memory chip upgrades and AI inference chip development [3].