Which is better for shareholders of listed companies to reduce their holdings and cash out?

After 36 months of listing, the sales restriction has been lifted, and the shareholding reduction plan has been released one after another. According to the statistics of various announcements compiled by China LED Network, among the 21 listed companies with LED-related businesses as their main business, 4 companies have become "hardest hit areas" for the reduction of holdings.

2014 can be described as a year when several LED listed companies frequently reduced their holdings, especially in the bull market, the company's executives chose to focus on reducing their holdings and cashing out, "pocketing is safe."

Nationstar Optoelectronics' three controlling shareholders cashed out 163 million yuan

From January 21 to 27, 2015, Cai Juyi, one of the actual controlling shareholders of Nationstar Optoelectronics, reduced its holdings of 3.45 million shares of the company's unrestricted tradable shares through the block trading system, cashing out a total of 37.243 million yuan. After this shareholding reduction, Cai Juyi's shareholding ratio changed from 5.35% to 4.55%, and she became a shareholder with less than 5% of the shares. Cai Juyi, Wang Yaohao and Yu Binhai together held 14.26% of the company's shares.

It is nothing new for the actual controlling shareholder of Nationstar Optoelectronics to reduce its holdings. On September 30 and December 29, 2014, Wang Yaohao reduced his holdings of 8.8 million shares of the company through the block trading system, accounting for 2.04% of the total share capital, and cashed out 87.2 million yuan; Also as the actual controlling shareholder of Nation Star Optoelectronics, Yu Binhai reduced his holdings of 3.25 million shares of the company’s stock through block transactions on July 1 and December 29, 2014, and cashed in 31.8775 million yuan; while Cai Juyi passed block transactions on August 22, 2013. The transaction reduced 1 million shares of the company's stock, and cashed out 7.12 million yuan.

That is to say, as of January 26, 2015, the cash-out amount of the three actual controllers was 163 million yuan.

Lehman Optoelectronics cashed in and reduced its holdings by 313 million yuan

On August 7, 2014, Lehman Optoelectronics' "Share Reduction Plan Notification Letter" announced that the 89,807,200 shares issued before the IPO held by shareholders Li Mantie, Wang Lishan, Li Chen and Jade Investment were released from sales restrictions when they expired. During the period from August 12, 2014 to February 11, 2015, Li Mantie plans to reduce holdings of 2 million shares, Wang Lishan plans to reduce holdings of 3 million shares, Li Chen plans to reduce holdings of 800,000 shares, and Jade Investment plans to reduce holdings of 420 shares. million shares.

Wang Lishan, vice chairman of Lehman Optoelectronics, respectively reduced its holdings by 1 million shares at 44.77 yuan per share, 50.35 yuan per share, and 50.43 yuan per share on December 3, 2014, January 16, 2015, and January 19, 2015. (A total of 3 million shares were reduced), and 146 million yuan was cashed out. Li Chen, one of the actual controllers of Lehman Optoelectronics, made the following transactions from January 17, 2014 to February 12, December 3, and January 19, 2015. The average price was 16.59 yuan/share, 54.71 yuan/share, and 53.40 yuan/share. A total of 798,450 shares were reduced, and 34.2696 million yuan was cashed out. However, Li Mantie, chairman of Lehman Optoelectronics, planned to reduce his holdings by 2 million shares and has yet to take action.

On February 12, August 15, and October 28, 2014, Ledman Optoelectronics’ legal shareholder Urumqi Jiede Equity Investment Partnership (Limited Partnership) reduced its shareholding in the company by 1.85 million shares and 2.2 million shares respectively through block transactions. , 2 million shares, the average price of the reduction was 14.81 yuan/share, 17.64 yuan/share, 33.69 yuan/share, and a total of 134 million yuan was cashed out.

As of January 23, 2015, Lehman Optoelectronics has reduced its holdings and cashed out a total of 313 million yuan.

Insiders of Lehman Optoelectronics said at the time that the company’s actual controller’s shareholding reduction was not because he was not optimistic about the company’s prospects. At present, the LED industry is recovering, and many institutional investors are also quite optimistic about this sector. For their own financial needs, the second is that the shareholding ratio is too high and the circulation is too small, which is not conducive to the company's stock trading in the secondary market.

Refond Optoelectronics ’ actual controllers and shareholders cash out 600 million yuan

On July 10, 2014, Refond Optoelectronics released the "Announcement on the Share Reduction Plan of Controlling Shareholders and Actual Controllers". Due to the needs of personal funds, the chairman of the company, Gong Weibin, planned to reduce the shareholding plan from July 14, 2014 to January 2015. On the 13th (within 6 months), no more than 17.4 million shares of the company will be reduced through centralized bidding or block transactions.

On July 24 and 25, 2014, Gong Weibin reduced his holdings of 2,074,569 shares of the company's unrestricted tradable shares through centralized bidding transactions, with an average price of 15.13 yuan per share; 8,000,000 conditional tradable shares, with an average price of 17.51 ​​yuan per share; on September 11, 2014, 5,000,000 shares of the company’s unrestricted tradable shares were reduced through block transactions, with an average price of 16.1 yuan per share.

So far, there are still 2,325,431 shares in the share reduction plan that have not been implemented yet, but Gong Weibin promised not to reduce the 2,325,431 shares that have not been reduced from September 12, 2014 to March 11, 2015, and will not reduce his holdings Other unrestricted tradable shares of the company that can be sold. After the shareholding reduction plan was completed, Gong Weibin held 68,116,202 shares of the company, accounting for 31.19% of the company's total shareholders.

Through these three share reductions, Gong Weibin cashed out 252 million yuan.

Gong Weibin has just announced the end of the shareholding reduction plan. Dongguan Konka Electronics Co., Ltd., a shareholder of Refond Optoelectronics that holds more than 5% of the shares in total, has reduced the company's unlimited sales conditions through bidding transactions and block transactions from September 2 to December 23, 2014. There are 23,976,366 tradable shares, with a cumulative cash of 350 million yuan.

The actual controller of Unilumin Technology reduced its holdings and cashed out 151 million yuan

In addition to packaging companies, only Unilumin Technology has reduced its holdings and cashed out of downstream application companies.

Lin Mingfeng, Chairman of Unilumin Technology, respectively, on October 22, November 3, November 5, and November 21, 2014, reduced the holdings at an average price of 17.1 yuan/share, 15.61 yuan/share, 14.98 yuan/share, and 14.96 yuan/share. Yuan/share, a total of 10 million shares were reduced, and 151 million yuan was cashed out.

After this shareholding reduction, Lin Mingfeng holds 82,606,727 shares of Unilumin Technology, accounting for 40.75% of the total share capital.

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