Core Viewpoint - Recently, Wentai Technology has been in the spotlight due to a control dispute involving its wholly-owned subsidiary, Nexperia. The second-largest shareholder, Wuxi Guolian, announced plans to reduce its stake by 3% [1][2]. Group 1: Shareholder Actions - Wuxi Guolian plans to reduce its stake in Wentai Technology by up to 3% between November 27, 2025, and February 26, 2026, with 2% through block trading and 1% via competitive bidding [2][4]. - Following the announcement of the reduction plan, Wentai Technology's stock price dropped by 4.78%, closing at 41 CNY per share, resulting in a market value loss of 2.5 billion CNY [2][4]. Group 2: Stock Price Volatility - The stock price of Wentai Technology experienced significant fluctuations, dropping to around 37 CNY per share on October 13 and 14, after previously rising to 50 CNY per share before the National Day holiday [2][6]. - After the announcement of the reduction plan, the stock price rebounded, closing at 45 CNY per share on November 7, with a daily increase of 9.70% and a total market capitalization of approximately 56 billion CNY [9]. Group 3: Control Dispute and Market Reactions - The control dispute over Nexperia has led to concerns among investors, particularly regarding the implications of Wuxi Guolian's stake reduction and the operational independence of Nexperia in China [5][7]. - Investors have raised questions about the impact of the control dispute on the company's future and the potential for Nexperia to be independently listed [7][8].

Core Viewpoint - Wentech Technology (600745) announced that its major shareholder, Wuxi Guolian Integrated Circuit Investment Center, plans to reduce its stake by up to 3% between November 27, 2025, and February 26, 2026, amid ongoing control disputes involving its subsidiary, Nexperia [1][2] Group 1: Shareholder Actions - Wuxi Guolian holds 7.77% of Wentech Technology, making it the second-largest shareholder, with plans to sell 2% through block trades and 1% via collective bidding [2] - The planned reduction corresponds to a market value of approximately 16.8 billion yuan based on a closing price of 45 yuan per share [2] Group 2: Stock Price Volatility - Wentech Technology's stock experienced significant fluctuations, dropping to around 37 yuan per share on October 13 and 14, before recovering to approximately 40 yuan after a brief decline post-National Day [1] - Following the announcement of the share reduction, the stock fell by 4.78%, resulting in a market capitalization loss of 2.5 billion yuan [1] Group 3: Investor Concerns - Investors have expressed concerns regarding the impact of the shareholder's reduction on the company's future, particularly in light of the ongoing disputes surrounding Nexperia [3][4] - Questions have arisen about the operational independence of Nexperia China and its financial contributions to Wentech Technology, especially after the Dutch government's restrictions on Nexperia [3][4] Group 4: Market Reactions - On November 7, Wentech Technology's stock surged to 45 yuan, marking a 9.70% increase, with significant trading volume in the last minutes of trading [4] - The Dutch Economic Minister indicated constructive discussions with China regarding the restoration of supply to Nexperia, which may positively influence market sentiment [4]