recently, force field jun saw a statistic about the top ten a-share companies that key shareholders reduced their holdings in 2023. the data show that there are two companies that reduced their holdings by more than 10 billion yuan in the whole year, namely, yaoming kant (rights protection), which cashed in 11.2 billion, and lanqi technology, which cashed in 10 billion.

ranked three to five are Jinshan Office, HKUST Xunfei and Godson Zhongke. As you can see, three of the TOP5 are big bull stocks on the board.

force field jun wrote a small comment when komming kant fell worst at the end of January, and this time he will not mention it any more. However, another "reduction king", Lanqi Technology (688008.SH), which has cashed out over 10 billion yuan throughout the year, is worth talking about.

Lanqi Technology is said to be one of only three memory interface chip suppliers in the world, listed on the board in July 2019, when the IPO price of 24.8 yuan, after the listing without a transfer, dividends is a fixed annual cash of 30 cents. The performance is still quite good, and the net profit has increased every year. From this point of view, the initial IPO price-earnings ratio of 40 times is quite conscientious.

but when it comes to the reduction of the original shareholders, it is another matter. looking back on the whole 2023, lanqi technology spent the whole year in the massive reduction of the original shareholders. whether it is Jiaxing core electric, Jiaxing hongyue, Shanghai linli and other equity investment funds, or strategic investors such as CLP investment control and INTEL CAPITAL, they are all running.

In addition, similar to WuXi AppTec, Lanqi Technology is also a "two-headed" company: more than 70% of its sales business is overseas, and four of its six non-independent directors are of American nationality. Judging from the salary of senior executives, it is not as exaggerated as that of Li Ge, chairman of Yao Ming Kant, who received more than 40 million annual salary, but it is also very high. Yang Chonghe, chairman of Lan Qi Technology, and Tai, Stephen general manager Kuong-Io, will both earn more than 900 million annual salary in 2022.

force field gentleman suddenly felt that it was a coincidence that the core management of the two "reduction kings" who have cashed in more than 10 billion yuan are both in beautiful countries, which is also very interesting and intriguing. where will they go after cashing out so much money? At the same time, the force field gentleman also thought, but all "two ends outside" companies, senior management and main business are abroad, will all be the original shareholders large-scale reduction according to the fight?

more interestingly, according to Wind data, in 2023, when the original shareholders wantonly reduced their holdings, lanqi technology was the darling of institutional investors, and funds and securities firms increased their positions in 2022 and 2023.

The number of shares held by the fund alone has more than doubled from 148.5473 million shares at the end of 2021 to 312.1616 million shares at the end of 2023; brokerage firms have increased their positions more than tenfold, from 937700 shares at the end of 2021 to 10.1095 million shares at the end of 2023. This is a play with the original shareholders of Lanqi Technology, playing a hedge to increase or decrease holdings?