Core Viewpoint - Recent announcements of share reduction plans by major shareholders of companies like Keli'er, United Precision, and Senba Sensor have raised concerns about market confidence, especially as the A-share index is at a high level [1][2]. Group 1: Shareholder Actions - Major shareholders of Keli'er, United Precision, and Senba Sensor have disclosed plans to reduce their holdings, which appears to be compliant with regulations [1]. - The timing of these reductions is sensitive, occurring when the market is recovering and stock prices are at relatively high levels [1]. - Historical cases show that announcements of share reductions by major shareholders at high stock prices often lead to significant declines in share prices shortly thereafter [1]. Group 2: Market Perception - The actions of major shareholders are interpreted as a vote of no confidence in the company's future, which can severely impact the confidence of retail investors [2]. - A healthy capital market relies on the confidence of all participants, and the actions of major shareholders play a crucial role in maintaining this confidence [2]. - There is an expectation for major shareholders to demonstrate responsibility and commitment to the company's long-term growth, rather than acting as opportunistic traders [2].

7月30日，概伦电子发布公告，截至本公告披露日，金秋投资、嘉橙投资、静远投资、睿橙投资、国兴同赢合计持股4686.05万股，占公司总股本10.77%； 因资金需求，拟于2025年8月22日至2025年11月19日，通过集中竞价减持不超过435.18万股，不超1%，通过大宗交易减持不超过870.36万股，不超2%，合 计不超过1305.53万股，不超3%，减持价格按市场价格确定。 从市场常规逻辑来看，上市公司股东减持比例通常多在 1% 以内，超过 2% 的减持已属少见，3% 的比例更是明显高于市场平均水平。这不仅因为 3% 的 股份对应的绝对数量庞大（1305.53 万股），更因为其在公司总股本中占据的权重足以影响市场流通结构：对于概伦电子而言，3% 的股份若进入二级市 场，相当于流通股池突然增加了显著体量的供给，尤其在减持方式上，既包括可能直接冲击股价的集中竞价交易（最高 435.18 万股，占 1%），也包括可 能以折价成交、影响市场信心的大宗交易（最高 870.36 万股，占 2%），双重减持渠道叠加下，短期市场承接压力不容忽视。 从公告细节来看，本次计划减持的主体为金秋投资、嘉橙投资、静远投资、睿橙投资 ...