Comprehensively written by Semiconductor Industry Horizons (ID: ICVIEWS)

The top chip packaging and testing company with a market value of 30 billion yuan and the electronic component distributor with a market value of billions of yuan have both suffered share reductions by the National IC Fund.

Since October, the National IC Fund has reduced its holdings in multiple companies.

Among them, Tongfu Microelectronics has suffered share reductions by the National IC Fund, which plans to reduce its stake in Tongfu Microelectronics by no more than 3%. Tongfu Microelectronics is the largest integrated circuit packaging and testing enterprise in China with the most diverse product range. Its financial report for the first half of 2024 shows that the company has turned losses into profits, with both revenue and net profit achieving double-digit growth.

In addition, CEC Port has also suffered share reductions by the National IC Fund. The National IC Fund holds 10.6317% of CEC Port's total share capital, or 80,790,338 shares. It plans to reduce its stake in CEC Port by no more than 1,953,080 shares, or 0.2570% of the company's total share capital, within three months after 15 trading days from the date of the announcement disclosure through centralized bidding transactions.

On October 11, Tongfu Microelectronics announced that the State IC Industry Investment Fund Co., Ltd. (hereinafter referred to as the "Industry Fund" or "First Phase Fund"), which holds 170,817,547 shares (11.26% of the company's total share capital), plans to reduce its stake in the company by no more than 45,527,907 shares (i.e., no more than 3% of the company's total shares) within three months after 15 trading days from the date of the announcement of this reduction plan (i.e., from November 4, 2024 to February 3, 2025) through centralized bidding or block trading.

According to reports, the First Phase Fund is reducing its stake based on its own operational and management needs. Specifically, it plans to reduce its stake by no more than 30,351,938 shares (i.e., no more than 2% of the company's total shares) through block trading and by no more than 15,175,969 shares (i.e., no more than 1% of the company's total shares) through centralized bidding transactions.

The First Phase Fund is both the second largest shareholder and the second largest publicly traded shareholder of Tongfu Microelectronics. The third largest shareholder is Hong Kong Central Clearing Co., Ltd., holding a 3.46% stake. After this reduction, the First Phase Fund will remain the second largest shareholder of Tongfu Microelectronics. The largest shareholder is Nantong Huada Microelectronics Group Co., Ltd., holding a 19.9% stake in Tongfu Microelectronics.

On October 10, Tongfu Microelectronics' advanced packaging and testing project with a total investment of 3.52 billion yuan officially commenced construction in the Suzhou-Wuxi-Nantong Science and Technology Industrial Park. This advanced packaging and testing project is another major project of Tongfu Microelectronics in Nantong, which will introduce world-class packaging and testing technologies and equipment. The future products will be widely used in high-performance computing, artificial intelligence, network communications, and other fields.

On October 8, Guoxin Technology announced that its third-largest shareholder, the State IC Industry Investment Fund Co., Ltd., reduced its stake in the company by 107,800 shares, accounting for 0.03% of the total share capital. After the change, it held 14,954,100 shares, accounting for 4.45% of the total share capital.

In the past year, the State IC Industry Investment Fund Co., Ltd. has reduced its stake in Guoxin Technology three times, totaling 3,467,800 shares.

Suzhou Guoxin Technology Co., Ltd., founded in 2001, is a chip design company focused on the research and development and industrialization of domestically controlled embedded CPU technology. The company is committed to serving the national strategy of safe and controllable development, providing IP licensing, chip customization services, and autonomous chip and module products to customers in critical areas such as information security, automotive electronics and industrial control, edge computing, and network communications.

In terms of performance, Guoxin Technology's performance declined in the first half of 2024. The company achieved revenue of 261 million yuan, a year-on-year decrease of 2.06%, and net profit attributable to shareholders of -82.56 million yuan, a year-on-year decrease of 247.8%. In 2023, revenue and net profit attributable to shareholders decreased by 73.38% and 414.31%, respectively.

On October 8, CEC Port announced that its shareholders, including the National IC Fund, Guofengtou Fund, CEC Kunrun Fund, and CEC Development Fund (CEC Kunrun Fund and CEC Development Fund are acting in concert), which hold 80,790,338 shares (10.6317% of the company's total share capital), 53,860,225 shares (7.0878% of the total share capital), and 75,754,353 shares (9.969% of the total share capital), respectively, plan to reduce their stakes in the company by no more than 1,953,080 shares, 1,302,053 shares, and 1,831,337 shares, respectively, through centralized bidding transactions within three months after 15 trading days from the date of the announcement disclosure. The total reduction will not exceed 5,086,500 shares, and the reason for the reduction is "the need for self-operating funds" for all shareholders.

Among them, the National IC Fund plans to reduce its stake in the company by no more than 1,953,080 shares, or 0.257% of the total share capital, through centralized bidding transactions within three months after 15 trading days from the date of this announcement disclosure.

The Guofengtou Fund plans to reduce its stake in the company by no more than 1,302,053 shares, or 0.1713% of the total share capital, through centralized bidding transactions and block trading within three months after 15 trading days from the date of this announcement disclosure.

The CEC Kunrun Fund and CEC Development Fund plan to reduce their stakes in the company by no more than 1,831,337 shares, or 0.2410% of the total share capital, through centralized bidding transactions within three months after 15 trading days from the date of this announcement disclosure.