燕东微：国家大基金减持完毕！

Core Viewpoint - The article discusses the completion of the share reduction plan by the National Integrated Circuit Industry Investment Fund (referred to as "National Fund") for Beijing Yandong Microelectronics Co., Ltd. (stock code: 688172), marking its exit from being a major shareholder with over 5% ownership [1][3]. Group 1 - The National Fund's share reduction plan was initially disclosed on November 20, 2025, with a window period from December 11, 2025, to March 11, 2026, allowing for a maximum reduction of 21.41 million shares, representing 1.5% of the total share capital [1]. - As of March 11, 2026, the National Fund reduced its holdings by 18.91 million shares, accounting for 1.33% of the total share capital, without reaching the planned maximum reduction limit [3]. - The reduction price ranged from 34.04 yuan to 48.78 yuan per share, resulting in a total reduction amount of 766 million yuan, with 2.50 million shares remaining uncompleted [3]. Group 2 - Following the completion of the reduction, the National Fund's shareholding decreased from 86.75 million shares to 67.84 million shares, reducing its ownership percentage from 6.08% to 4.75%, thus officially exiting the list of major shareholders [3]. - The announcement clarified that the share reduction was a normal investment behavior, fully compliant with legal regulations and supervisory rules, and did not negatively impact the company's governance structure or ongoing operations [3].