Summary of Key Points Core Viewpoint - The report highlights a significant decline in the number of shareholders for many companies listed on the ChiNext board, indicating a trend of shareholder concentration and potential market implications for these stocks [1][2][3]. Group 1: Shareholder Changes - A total of 209 ChiNext stocks reported their latest shareholder numbers as of June 20, with 126 stocks experiencing a decline in shareholder count compared to June 10, and 11 of these stocks seeing a decrease of over 10% [1]. - The stock with the largest decline in shareholder count is Jieya Co., with a decrease of 22.08% to 8,867 shareholders, and a cumulative drop of 13.97% in stock price since the concentration began [1]. - Other notable declines include Boyuan Co. (20.64% decrease) and Qide New Materials (18.75% decrease) [1][2]. Group 2: Market Performance - Among the concentrated stocks, the average price increase since June 11 is 0.31%, with top performers including Haitai Technology (25.88% increase), Hengshuai Co. (20.28% increase), and Boshuo Technology (18.98% increase) [2]. - The industries with the most concentrated stocks include machinery, electrical equipment, and computers, with 18, 12, and 11 stocks respectively [2]. Group 3: Leverage and Funding - As of June 24, 33 concentrated stocks have attracted leveraged funds, with notable increases in financing balances for Zhongying Electronics (88.68%), Haitai Technology (69.45%), and Qide New Materials (63.07%) [2]. Group 4: Continuous Decline in Shareholder Numbers - Companies like Zhongjian Huaneng and Kema Technology have seen continuous declines in shareholder numbers for 15 and 10 periods respectively, with cumulative declines of 20.86% and 23.30% [2][3]. - The report indicates that 38 ChiNext stocks have shown a continuous decline in shareholder numbers for more than three periods, with some stocks experiencing declines for up to 15 periods [1].