ZHONGJI INNOLIGHT(SZ:300308) 中国基金报·2025-09-26 16:17Summary of Key Points Core Viewpoint - The major shareholder of Zhongji Xuchuang plans to reduce its stake in the company due to personal financial needs, which may impact the stock's performance in the near term [4][5]. Group 1: Shareholder Reduction Plan - Zhongji Xuchuang's controlling shareholder, Zhongji Holdings, announced a plan to reduce its holdings by up to 5.5 million shares, representing 0.49% of the total share capital, over the next three months [4][5]. - The estimated value of this reduction is approximately 2.2 billion yuan [4]. - As of the announcement date, Zhongji Holdings held 126,940,135 shares, accounting for 11.42% of the total share capital [5][7]. Group 2: Market Performance and Context - Zhongji Xuchuang's stock price has surged over 200% this year, reaching a historical high of 448 yuan on September 4, with a closing price of 413.7 yuan on September 26, resulting in a market capitalization close to 460 billion yuan [5][7]. - The reduction plan will be executed through block trading on the stock exchange, starting 15 trading days after the announcement [5][7]. - There is uncertainty regarding the timing, quantity, and price of the share reduction, as it will depend on market conditions [5][7]. Group 3: Recent Shareholder Activity - Since August, the son of the actual controller, Wang Xiaodong, has reduced his holdings by 555,000 shares, cashing out approximately 207 million yuan at prices between 335.5 yuan and 435.16 yuan per share [10]. - Additionally, from July 1 to September 17, a specific shareholder reduced their holdings by 4.6341 million shares, likely cashing out over 1 billion yuan based on an average price of around 300 yuan [10].