The latest response has come from the largest transferee who has made an inquiry about the transfer of core shares to Lodi Noan Fund.

On the evening of August 30th, Core original shares announced the transfer results of shareholder inquiry, and institutional investors such as Noan Fund, Jinglin assets and USB participated in the transfer.

A reporter from Science and Technology Innovation Board Daily learned from insiders of Xinyuan shares that prior to this, the company and its shareholders comprehensively considered exit channels such as inquiry transfer and bulk trading, and organized a number of institutional investor communication meetings, preferring long-term value investors, and did not want shareholders to reduce their holdings to create obvious pressure on the stock price.

According to CITIC Securities, an inquiry organizer, a total of 17 investors participated in the subscription, and 10 transferees were finally identified by adopting the principles of "priority of subscription price, priority of subscription quantity and" priority of time "in receiving the subscription quotation form. The lower limit of the transfer price of this inquiry is 84.27% of the average trading price of core shares in the 20 trading days before August 18.

Data show that this inquiry transfer of a total of 10 transferees, a total of 20.99 million shares, accounting for 4.28% of the total share capital, the transferred shares need to be locked up for 6 months. The inquiry transfer price is 72 yuan per share, with a total transaction amount of 1.511 billion yuan.

Among them, the Nuoan Fund transferred 12.8 million shares, with a transaction value of 922 million yuan, accounting for 2.61% of the total share capital, which is the largest transferee this time. Jinglin assets, Shangwei Investment and USB AG were transferred 3.32 million shares, 1.2 million shares and 730000 shares respectively, accounting for 0.68%, 0.24% and 0.15% of the total share capital respectively.

A reporter from the "Science and Technology Innovation Board Daily" noted that since the listing of Core original shares, No.1 Semiconductor Brother Cai Songsong's Nuoan growth and Nuoan Hexin Fund have always firmly held core shares and have not reduced their holdings. As of June 30, 2021, the three public offerings of Nuoan Fund accounted for 14.25% of the outstanding shares, and Noan and Xin Fund increased their shareholdings by 0.19% in the second quarter. If the shareholding remains unchanged since June 30, the stake held by the Nuoan fund will increase to 19.24 million shares, accounting for 3.93 per cent of the total share capital.

A Nuoan fund insider told Science and Technology Innovation Board Daily that the company's re-increase of core shares is mainly based on the company's fundamental analysis and the choice made by the long-term development space of the semiconductor industry. The semiconductor IP licensing industry is analogous to the engine in the aviation field, which is not only the cornerstone of the entire chip design industry, but also one of the key areas of the domestic semiconductor industry. With the complexity of chip design, the entire IP licensing industry will be able to maintain a good growth trend in the next decade. "

According to its disclosure, Cai Songsong, the fund manager, takes his own understanding of the semiconductor industry and future judgment as the investment basis, not short-term fluctuations as the main basis for judgment. Even when the semiconductor market weakens in the second half of last year and is under great pressure, Cai Songsong is still optimistic about the long-term development space and firm long-term holding of the semiconductor industry.

The transferor is the IPO investor of Core original shares, including Junxiang Investment, Junlang Investment, Huaxi Yiyuan, IDG and so on, with shares in the range of 0-3.66% respectively. The total proportion of the number of shares held in this transfer is 26.92%, and the reason for the transfer is its own capital needs. According to the introduction of core original shares, the company's controlling shareholder, actual controller and Dong Jiangao are all involved in this inquiry transfer.