Cctech(SZ:300604) Zhong Guo Jing Ji Wang·2025-12-01 09:27Core Viewpoint - Changchuan Technology (300604.SZ) announced a share reduction plan involving its actual controller and significant shareholders, indicating potential liquidity events and changes in shareholder structure [1][2]. Share Reduction Plans - Changchuan Investment plans to reduce up to 11,968,400 shares, representing 1.8866% of the total share capital, within three months after a 15-day notice period [1]. - Director Zhong Fenghao intends to reduce up to 1,000,000 shares, accounting for 0.1576% of the total share capital, under the same conditions [1]. - As of November 28, 2025, the estimated cash amount from Changchuan Investment's reduction is approximately 923 million yuan, based on a share price of 77.11 yuan [1]. Historical Shareholding and Reductions - As of the announcement date, Changchuan Investment held 26,338,588 shares (4.1517% of total capital), while Zhong Fenghao held 32,691,608 shares (5.1531% of total capital) [2]. - From August 25 to September 24, 2025, Changchuan Investment reduced its holdings by 11,219,977 shares, equating to 1.7796% of total capital, realizing approximately 715 million yuan [2]. Cumulative Reductions - Since its initial shareholding of 24,709,500 shares (7.87% of total capital), Changchuan Investment has cumulatively reduced 16,161,900 shares, cashing out around 925 million yuan [3]. - Zhong Fenghao has reduced a total of 3,681,400 shares since his first reduction on December 7, 2020, with total cash proceeds of approximately 142 million yuan [4]. Fundraising Activities - Changchuan Technology has conducted two rounds of fundraising in the past five years, raising a total of 649 million yuan [8]. - The company plans to raise up to 3.13 billion yuan through a new issuance of shares, aimed at semiconductor equipment R&D and working capital [8].