Core Viewpoint - The major shareholder of Huizhiwei, the National Integrated Circuit Industry Investment Fund Phase II, plans to reduce its stake in the company due to funding needs, which may impact the stock's performance in the short term [1][2]. Shareholder Reduction Plan - The shareholder, Huaxin Investment Management Co., Ltd., intends to reduce its holdings by up to 4,668,435 shares, representing no more than 1.00% of the total shares [1]. - The reduction will occur through centralized bidding and block trading within three months after the 15 trading days following the announcement [1]. Financial Performance - For the first half of 2025, the company reported a revenue of 355.16 million yuan, a year-on-year increase of 39.97% [2][3]. - The net profit attributable to shareholders was -65.28 million yuan, improving from -183.41 million yuan in the same period last year [2][3]. - The net cash flow from operating activities was -235.40 million yuan, slightly better than -237.55 million yuan in the previous year [2][3]. Historical Financial Data - In 2022, 2023, and 2024, the net profit attributable to shareholders was -305 million yuan, -409 million yuan, and -438 million yuan, respectively [3][4]. - The company’s revenue for 2024 was 523.99 million yuan, a decrease of 5.08% compared to 2023 [4]. IPO and Fundraising - Huizhiwei went public on May 16, 2023, with an issuance of 54,300,500 shares at a price of 20.92 yuan per share [4]. - The total amount raised from the IPO was approximately 1.14 billion yuan, with a net amount of about 1.03 billion yuan after expenses [5][6]. - The company plans to use the raised funds for chip testing center construction, headquarters and R&D center development, and to supplement working capital [6].