大基金减持！

Core Viewpoint - The article discusses the recent share reduction plan by the National Integrated Circuit Industry Investment Fund, highlighting its significance in the semiconductor industry and the strategic partnership between Tongfu Microelectronics and AMD [2][3][4]. Group 1: Share Reduction Plan - The National Integrated Circuit Industry Investment Fund, holding 13,315.6578 million shares (8.77% of total shares) in Tongfu Microelectronics, plans to reduce its holdings by up to 3,793.9922 million shares (2.5% of total shares) within three months starting from June 11, 2025 [2]. Group 2: National Integrated Circuit Industry Investment Fund - The National Integrated Circuit Industry Investment Fund, known as the "Big Fund," is the largest industrial investment fund in China, established to support the development of the integrated circuit industry and address financing challenges [3]. - The first phase of the Big Fund entered a recovery period in 2019 after five years of investment, while the second phase was established in October 2019 with a registered capital of 204.15 billion [3]. - The third phase of the Big Fund is set to launch in May 2024, aiming to attract social capital for multi-channel financing support across the entire integrated circuit industry chain [3]. Group 3: Tongfu Microelectronics - Tongfu Microelectronics is a provider of integrated circuit packaging and testing services, offering comprehensive solutions across various sectors, including AI, high-performance computing, big data storage, 5G, and automotive electronics [3]. - The company has established a strong partnership with AMD, being its largest packaging and testing supplier, handling over 80% of AMD's total orders [4].