(Yicai) June 22 -- Following a steep runup in semiconductor shares, a mix of state-backed funds, venture capital firms, and corporate executives have cashed out more than CNY6.7 billion (USD989 million) from seven chip stocks on Shanghai’s Nasdaq-style Star Market since the start of this month, Yicai calculated based on incomplete figures.

National Silicon Industry Group led the group with CNY2.6 billion cashed out, followed by VeriSilicon Microelectronics Shanghai with CNY1.6 billion and Biwin Storage Technology with CNY1.4 billion. Together, shareholders in these three companies accounted for about CNY5.6 billion, or more than 80 percent of the total disclosed by the seven chip firms.

Several companies, including ACM Research Shanghai, the local unit of US chip equipment maker ACM Research, and Guangdong Cellwise Microelectronics, also unveiled new share reduction plans this month. Among them, ACM Research Shanghai drew particular attention after seven senior executives moved to trim their holdings as the firm's shares traded at an all-time high.

Shares of businesses tied to artificial intelligence infrastructure, semiconductor equipment, and memory chips have surged since May, with some semiconductor stocks more than doubling or even posting multi-fold gains. The rally has left many investors sitting on sizable paper profits, prompting a wave of profit-taking by a broad range of shareholders, industry National Integrated Circuit Industry Investment Fund, also known as Big Fund 1.

Big Fund 1 sold 99.1 million shares of National Silicon Industry, equivalent to 3 percent of the company's share capital, between May 6 and June 4, raking in CNY2.6 billion (USD383.7 million). The sale, which represented the maximum permitted reduction, diluted the fund's stake to 12.5 percent from 15.5 percent, though it remains a major shareholder.

Shares of National Silicon Industry [SHA: 688126] ended 5.3 percent higher at CNY33.90 (USD5.01) each today. VeriSilicon [SHA: 688521] added 3.7 percent to CNY284 (USD41.94), while Biwin [SHA: 688525] increased 5.2 percent to CNY406.31.

ACM Research Shanghai, whose shares have soared more than 2.5 times since last month, said seven senior executives, including actual controller and Chairman Wang Hui, plan to sell up to 759,600 shares between June 26 and Sept. 24 through centralized bidding. The planned disposal represents 0.16 percent of the firm's total share capital and, based on the latest closing price of CNY378.75 (USD55.80), could generate roughly CNY288 million (USD42.5 million) in proceeds.

ACM Research Shanghai [SHA: 688082] fell 0.7 percent to close at CNY376.14 per share today, and Cellwise [SHA: 688325] dropped 2.3 percent to CNY139.13.

Editor: Kim Taylor