GigaDevice: Shareholder Zhu Yiming plans to reduce holdings by no more than 1.60% of the company's shares

On April 7th, GigaDevice Semiconductor (603986.SH) announced a shareholder share reduction plan. The company received a “Share Reduction Plan Notice” issued by Zhu Yiming. Due to personal financial needs, Zhu Yiming intends to reduce his holdings through centralized bidding transactions and block trades.

According to the disclosed shareholder holdings, Zhu Yiming owns 45,758,013 shares of the company, accounting for approximately 6.53% of the total share capital; at the same time, Zhu Yiming’s concerted action partner, Hong Kong Yingfude Limited, holds 13,053,500 shares, approximately 1.86% of the total share capital. Zhu Yiming, as the company’s controlling shareholder, actual controller, and concerted action partner, is also a shareholder holding more than 5% directly, as well as a director, supervisor, and senior management of the company.

Regarding the details of the reduction plan, Zhu Yiming plans to reduce no more than 11,210,000 shares, with a planned reduction ratio of no more than 1.60%. The specific methods and corresponding reduction quantities are: no more than 7,000,000 shares through centralized bidding and no more than 4,210,000 shares through block trades. The reduction period is from April 30, 2026, to July 29, 2026. The sources of the shares to be reduced include shares obtained before the IPO and shares obtained through block trades. The reason for the reduction is the shareholder’s own financial needs.

Regarding reduction commitments and risk warnings, the announcement states that Zhu Yiming made relevant commitments when the company’s initial public offering and listing took place, including that the shares he holds will not be transferred or entrusted to others for management within thirty-six months from the listing of the company’s A-shares, that during his tenure, the shares transferred each year will not exceed 25% of the total shares directly and indirectly held by him, and that after the lock-up period, the reduction price will not be lower than the issuance price within two years. The current reduction plan is consistent with previously disclosed commitments. Additionally, the announcement warns that there are uncertainties and risks associated with this reduction plan, which will not have a significant impact on the company’s governance structure or ongoing operations, nor will it lead to a change in the company’s control. The reduction plan complies with relevant laws and regulations. The company will supervise relevant shareholders to strictly adhere to regulatory requirements and fulfill information disclosure obligations in a timely manner.