董明珠，出手！

Core Viewpoint - Gree Electric, controlled by Dong Mingzhu, plans to reduce its stake in Wentech Technology, a leading semiconductor company in China, through a share reduction announcement that has attracted market attention [2][4]. Summary by Sections Shareholding and Reduction Plan - Zhuhai Ronglin and Gree Electric hold a combined 110 million shares of Wentech Technology, accounting for 8.81% of the total share capital. They plan to reduce their holdings by up to 12.45 million shares, which is not more than 1% of the total share capital, through centralized bidding [4][5][6]. - The reduction period is set from August 15, 2025, to November 12, 2025, with the reason cited as meeting the development needs of the enterprise [5][6]. Financial Implications - If the maximum reduction is executed at the latest closing price, Zhuhai Ronglin and Gree Electric could potentially cash out approximately 454 million yuan each, totaling around 900 million yuan [7]. Historical Context - Gree Electric has been invested in Wentech Technology for over six years, initially acquiring shares to support Wentech's acquisition of semiconductor giant Anshi Group in 2018. At that time, Gree held 12.33% of Wentech [8]. - The stock price of Wentech reached over 170 yuan per share in February 2020, leading to a paper profit exceeding 10 billion yuan for Gree. However, the stock price later fell significantly, dropping to 24.06 yuan per share by August of the previous year [8]. Recent Performance and Strategic Shift - Wentech Technology reported a revenue of 73.598 billion yuan in 2024, a year-on-year increase of 20.23%, but posted a net loss of 2.833 billion yuan. The company attributed this to being placed on an entity list, which adversely affected its product integration business [9]. - In the first quarter of 2025, Wentech achieved a revenue of 13.099 billion yuan, a year-on-year decline of 19.38%, but net profit rose to 261 million yuan, a year-on-year increase of 82.29%. The company anticipates a net profit of 390 million to 585 million yuan for the first half of 2025, representing a year-on-year growth of 178% to 317% [9].