Core Points - The core issue is the planned share reduction by multiple executives of Jing Sheng Mechanical and Electrical Co., which has raised concerns among investors [1][2]. Group 1: Executive Share Reduction - On October 17, Jing Sheng Mechanical announced that five executives, including Vice President Zhu Liang, plan to reduce their holdings by up to 2.7762 million shares, representing 0.21% of the total share capital [1]. - The estimated cashing out from this reduction is approximately 113 million yuan, with Zhu Liang's portion being about 43.8845 million yuan [1]. - The reason for the share reduction is primarily due to personal financial needs, as these executives have not sold shares since 2019 and have participated in two stock incentive plans [1]. Group 2: Market Reaction - Following the announcement, Jing Sheng Mechanical's stock price fell by 7.62%, closing at 37.71 yuan per share, with a market capitalization of 49.4 billion yuan [3]. Group 3: Semiconductor Business Development - Jing Sheng Mechanical has been expanding into the semiconductor sector, with its subsidiary Jing Hong Precision serving as a significant supplier to semiconductor equipment manufacturer Xin Kailai [4]. - The company has achieved domestic production of 8-12 inch silicon wafer equipment and is extending its reach into chip manufacturing and advanced packaging [4]. - As of June 30, 2025, the company has unfulfilled contracts in integrated circuits and compound semiconductor equipment exceeding 3.7 billion yuan [5]. Group 4: Financial Performance - In the first half of the year, the company reported a revenue of 5.799 billion yuan, a year-on-year decrease of 42.85%, and a net profit of 639 million yuan, down 69.52% [5]. - The decline in performance is attributed to the cyclical downturn in the photovoltaic industry and significant price drops in material products, while the semiconductor equipment business is still in the development phase [5]. Group 5: Investment in Other Companies - Jing Sheng Mechanical's controlling shareholder indirectly holds shares in Moole Technology through an investment fund, but the company itself does not have direct or indirect investments in Moole Technology [6].

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