USC(SH:688403) Ge Long Hui A P P·2025-12-29 12:54Group 1 - The core point of the article is that Huicheng Co., Ltd. (688403.SH) announced a significant reduction in the holdings of its convertible bonds by three shareholders, totaling 1.4357 million bonds, which represents 12.50% of the total issuance of Huicheng convertible bonds [1] Group 2 - The reduction in holdings occurred between August 26, 2025, and December 29, 2025, indicating a concentrated selling period [1] - The shareholders involved in the reduction are Yangzhou Xinruilian, Yang Hui, and Hefei Xincheng, who executed the sell-off through the Shanghai Stock Exchange trading system [1] - The total amount of convertible bonds reduced is significant, reflecting potential changes in shareholder sentiment or strategy regarding Huicheng Co., Ltd. [1]