Core Viewpoint - The National Integrated Circuit Industry Investment Fund (referred to as "National Fund") plans to reduce its stake in TaiLing Microelectronics (688591.SH) by up to 4.8149 million shares, representing no more than 2% of the company's total share capital, through centralized bidding and block trading [1][4]. Company Summary - TaiLing Microelectronics has a stable business operation, focusing on the research and sales of low-power wireless communication chips, which are widely used in smart home devices, wearable technology, and Internet of Things (IoT) terminals [4]. - The company intends to increase its research and development investment to strengthen technological innovation and market expansion, aiming to consolidate its competitive advantage in the low-power Bluetooth chip sector [4]. Industry Summary - The National Fund is a national-level investment platform for the semiconductor industry, primarily supporting the development of key areas such as integrated circuit design, manufacturing, packaging, testing, and materials [4]. - The recent reduction in stake by the National Fund is viewed as a routine asset management action and is not expected to adversely affect the company's control, governance structure, or ongoing operations [4]. - Industry experts believe that the growth potential of TaiLing Microelectronics in the wireless connectivity chip sector remains promising, driven by increasing demand in IoT, wearables, and smart hardware [4].