作为市场热捧的人形机器人概念股，长盈精密当前股价较2025年初已经翻倍。该公司主要从事电磁屏蔽件、精密连接器、LED精密支架等电子零组件的研 发、生产和销售，亦为人形机器人的传动件、结构件、执行器、传感器、变速齿轮、线束、电机等提供核心零部件。 回溯公告来看，长盈精密五名董事、高管此前于2025年12月17日预披露了减持计划。 | | 減持原 | 股份来 | 拟减持股 | 日常股 | 占扣除 回购专 | 減持 | | 減持 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | | | | 本的比 | 户股数 | | 减持期间 | | | | 因 | 源 | 份(股) | | | 方式 | | 价格 | | | | | | 例 | 后总股 | | | | | | | | | | 本比例 | | | | | 陈小硕 | 个人资金 | 股权激励 | 132.300 | 0.0097% | 0.0097% | | | | | | 需求 | | | | | | 本公告披露之 | | | 朱守力 | 个人资金 | 股权激励 | 110.400 | ...

Core Viewpoint - Recent activities of several listed companies' shareholders engaging in ETF swap transactions have drawn market attention, with a focus on the implications for stock structure optimization and potential hidden risks associated with large shareholder exits [1][2][9]. Group 1: Company Actions - Hosheng Silicon Industry announced that its controlling shareholder, Hosheng Group, plans to swap up to 11.82 million shares, representing no more than 1% of the total share capital, for ETF shares within three months after 15 trading days from July 26, 2025, with an estimated market value of 591 million yuan based on a closing price of 50 yuan on July 11 [1][3][5]. - Other companies, including Shanghai Electric, Hangzhou Steel, and Longi Green Energy, have also disclosed ETF swap plans, indicating a trend among major shareholders to engage in such transactions [1][7]. Group 2: Market Implications - The move to swap single stock assets for ETF shares is seen as a way to diversify investments and reduce risks associated with holding individual stocks, which can have positive implications for optimizing the equity structure of listed companies [1][7]. - However, there are concerns that ETF swaps may serve as a covert method for major shareholders to reduce their holdings, potentially leading to hidden exits from the market [1][9]. Group 3: Regulatory Context - Regulatory bodies have encouraged the expansion of ETF offerings and the normalization of ETF swap activities, which can enhance ETF scale and liquidity, but past instances of excessive swaps have led to significant tracking errors and performance issues for ETFs [2][10]. - The industry has noted the need for careful assessment of the liquidity impact of these swaps on ETF products to ensure fair treatment of smaller investors [10].