New disclosures from the night of September 10th reveal a wave of tech share reductions totaling nearly 5 billion yuan, with several major shareholders, including the National Integrated Circuit Industry Investment Fund (the "Big Fund"), Alibaba, and state-owned parent companies, all participating.

Firstly, the National Big Fund executed a dual-phase exit: its first phase trimmed 2.584 billion yuan from Suzhou Centec Communications Co.,Ltd. (ASX: 688702), while the second phase cut 424 million yuan from Hubei Sinophorus Electronic Materials Co.,Ltd. (ASX: 688545). This reflects a routine divestment pace for the fund, which continues to act as a persistent negative sentiment for the semiconductor sector, rather than a company-specific bearish signal.

Secondly, a central state-owned controlling shareholder has made a rare move. The China Academy of Space Technology (CAST) reduced its stake in a satellite firm by 1.26%, cashing out 1.097 billion yuan. Share reductions at the controlling shareholder level carry more significant signal weight than those from financial investors.

In a slightly positive development, Alibaba (ASX: BABA) has ceased its planned reduction in Asr Microelectronics Co.,Ltd. (ASX: 688220) ahead of schedule. After trimming 1.86% of its stake, the company voluntarily halted, with the remaining 4.78 million shares no longer slated for sale. While this is a mildly positive sign, its 10.58% remaining stake continues to hang over the stock as a major overhang.

Lastly, there is a dense pre-disclosure of reduction plans from company owners. Bide Pharmatech (siblings as actual controllers and an employee platform totaling 3.01%) and Suqian Unisplendour (relatives of the actual controller at 3.58%) have both announced intentions. These are set to enter their implementation phase in early October, so investors should keep an eye out for potential selling pressure at that time.

Data as of 2026-09-11 09:20, sourced from Wind announcements (verified individually for disclosure dates). The stocks mentioned in this article do not constitute any investment advice; please do not base investment decisions on this information. Those who do so assume all responsibility.