Three A-Share Companies Announce Share Reduction Plans, with Maximum Reduction of 498,000 Shares
On September 27, three Chinese A-share listed companies—Zhongke Feice, Heda Technology, and Hongyu Co., Ltd.—disclosed plans for shareholders or executives to reduce holdings. Zhongke Feice's concert party plans to sell up to 100,000 shares; Heda Technology's shareholder and director plan to sell up to 497,810 and 10,875 shares respectively; Hongyu's senior executive plans to sell up to 100,000 shares. All companies stated the reductions will not affect control or operations. Year-to-date, Zhongke Feice and Heda Technology shares have more than doubled.
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- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page reads the event directly, while its address stays stable when the title changes.
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Cross-source coverage
Common ground
- The share reductions are small percentages of equity (0.28% to 4.64%) and scheduled for October 2026, so they don't threaten company control or operations.
- Lock-up expiration schedules are a normal structural feature of IPOs in any market, and these announcements are tied to that timeline.
- Western media often applies double standards, scrutinizing Chinese insider selling more harshly than similar behavior in U.S. markets.
Points of contention
- Eastern Agent argues the selling is purely routine wealth management, while Neutral Agent says it's worth questioning why insiders sell at lock-up after a stock doubles.
- Eastern Agent sees geopolitical bias as the main story, while Neutral Agent insists the focus should be on company fundamentals like P/E ratios and revenue growth.
- Neutral Agent believes the concentration of announcements across three similar firms is a meaningful data point, while Eastern Agent dismisses it as a manufactured narrative.
Blind spots
- Both sides overlook whether the stock run-ups are justified by actual revenue and profit growth, not just policy tailwinds or market sentiment.
- The debate ignores how investor behavior might differ between Chinese and U.S. markets due to different regulatory environments and investor protections.
- Neither side fully addresses the possibility that early investors might have non-public information about order books or slowing demand.
WorldAttention’s read
This is a low-signal event blown out of proportion by both alarmists and apologists. The share reductions are small, scheduled far in advance, and tied to normal lock-up expirations. Western media does apply double standards, but that doesn't mean all scrutiny is invalid. The real question isn't about insider selling or geopolitical narratives—it's whether the companies' stock prices are justified by their fundamentals. Smart investors should ignore the noise and check revenue growth and valuation metrics directly.
Reporting timeline
Three A-Share Firms Announce Share Reduction Plans, Executives to Sell Up to 498,000 Shares
On the evening of September 27, three A-share listed companies—Zhongke Feice (SH688361), Heda Technology (SH688296), and Hongyu Co., Ltd. (SZ002890)—disclosed shareholder or executive share reduction plans. Zhongke Feice's actual controller's concert party, Shenzhen Xiaonao Laboratory Investment Enterprise, plans to sell up to 100,000 shares via centralized bidding from October 26, 2026 to January 25, 2027, citing own capital needs. Heda Technology's shareholder Dongxing Boyuan Investment Center plans to sell up to 497,810 shares (4.64% of total shares) due to fund expiration and needs, while director Wang Xiaopeng plans to sell up to 10,875 shares. Hongyu Co., Ltd. senior executive Liu Zhihong plans to sell up to 100,000 shares for personal capital needs. All companies stated the reductions will not affect control or operations. Stock performance diverged: Zhongke Feice and Heda Technology have more than doubled year-to-date, while Hongyu Co., Ltd. saw moderate gains.
Read sourceThree A-Share Firms Announce Share Reduction Plans, With Largest Cut Not Exceeding 498,000 Shares
On the evening of September 27, three A-share listed companies—Zhongke Feice (SH688361), Heda Technology (SH688296), and Hongyu Co., Ltd. (SZ002890)—disclosed shareholder or executive share reduction plans. Zhongke Feice's actual controller's concerted actor, Shenzhen Xiaonao Laboratory Investment Enterprise, plans to reduce holdings by no more than 100,000 shares (0.28% of total equity) for its own capital needs, during October 26, 2026 to January 25, 2027. Heda Technology's shareholder Dongxing Boyuan Investment Center plans to reduce up to 497,810 shares (4.64% of total equity) due to fund expiration and capital needs, while director Wang Xiaopeng plans to reduce up to 10,875 shares (0.10%). Hongyu Co., Ltd. senior executive Liu Zhihong plans to reduce up to 100,000 shares (0.59%) for personal capital needs. The companies stated these reductions will not affect control or operations. Stock performance this year varies: Zhongke Feice and Heda Technology have more than doubled, while Hongyu Co., Ltd. has seen moderate gains.
Read sourceThree A-Share Firms Disclose Share Reduction Plans, Top Shareholders to Sell Up to 498 Million Shares
On the evening of September 27, three A-share listed companies—Zhongke Feice (SH688361), Heda Technology (SH688296), and Hongyu Co., Ltd. (SZ002890)—announced shareholder or executive share reduction plans. Zhongke Feice's actual controller's concerted action party, Shenzhen Xiaona Guang Laboratory Investment Enterprise, plans to reduce holdings by no more than 100,000 shares (0.28% of total equity) due to capital needs, from October 26, 2026 to January 25, 2027. Heda Technology's shareholder Dongxing Boyuan Investment Center plans to reduce up to 497.81 million shares (4.64% of total equity) due to fund expiration and capital needs, while director Wang Xiaopeng plans to reduce up to 10.875 million shares (0.10%). Hongyu Co., Ltd. senior executive Liu Zhihong plans to reduce up to 100,000 shares (0.59%) for personal capital needs. All companies stated the reductions will not affect control or operations. Stock performance diverged: Zhongke Feice and Heda Technology have more than doubled year-to-date, while Hongyu Co., Ltd. saw moderate gains.
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Summary of Listed Company Share Reductions on September 27
This article, published by Sina Finance on September 27, compiles share reduction announcements from several Chinese listed companies as of 8:00 PM that day. The reductions are primarily driven by personal capital needs of shareholders and executives. Key announcements include: Yibin Technology (001278) directors and senior executives plan to sell a combined 140,000 shares (0.113% of total equity) via centralized bidding within three months starting 15 trading days after the announcement. Hongyu Co., Ltd. (002890) senior executive Liu Zhihong plans to sell up to 1 million shares (0.59%) over three months. Deyi Wenchuang (300640) shareholder Chen Lan plans to sell up to 2.75 million shares (0.88%) from October 8, 2026, to January 7, 2027. Heda Technology (688296) shareholder Gongqingcheng Dongxing Boyuan Investment Center plans to sell up to 4.98 million shares (4.64%) from October 9, 2026, to January 8, 2027, and director Wang Xiaopeng plans to sell up to 110,000 shares (0.1%) from October 27, 2026, to January 26, 2027. Zhongke Feice (688361) shareholder Xiaonaguang plans to sell up to 1 million shares (0.28%). Zhongyan Dadi (003001) shareholder Nanjing Zhongyan Investment sold 890,000 shares (0.51%) via centralized bidding. Hefei Urban Construction (002208) shareholder Hefei Industrial Investment Holdings sold 7.93 million shares (0.9878%) between June 29 and July 13, 2026, and decided to terminate the plan early.
Read sourceThree A-Share Companies Announce Share Reduction Plans, with Maximum Reduction of 498,000 Shares
On the evening of September 27, three A-share companies—Zhongke Feice, Heda Technology, and Hongyu Co., Ltd.—disclosed share reduction plans. Zhongke Feice's actual controller's concerted action party, Shenzhen Xiaona Guang Laboratory Investment Enterprise, plans to reduce up to 100,000 shares (0.28% of total equity) via centralized竞价 trading from October 26, 2026 to January 25, 2027, citing own capital needs. Heda Technology's shareholder Dongxing Boyuan Investment Center plans to reduce up to 497,810 shares (4.64% of total equity) due to fund expiration and needs, while director Wang Xiaopeng plans to reduce up to 10,875 shares (0.10%) for personal capital needs. Hongyu Co., Ltd. senior manager Liu Zhihong plans to reduce up to 100,000 shares (0.59%) for personal capital needs from October 26, 2026 to January 25, 2027. All companies stated the reductions will not change control or affect operations. Year-to-date, Zhongke Feice and Heda Technology shares have more than doubled, while Hongyu Co., Ltd. has seen moderate gains.
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