On September 17, Yirui Technology announced that shareholders Tianjin Sequoia Juye Equity Investment Partnership, Shanghai Chendai, Beijing Sequoia Xinyuan Equity Investment Center and so on plan to reduce their holdings of no more than 16.1% of the company's shares.

As of the close, Yirui fell 3.38% to 337.79 yuan per share, with a total market capitalization of 24.506 billion.

It is worth noting that the stock went public in September last year at an offering price of 119.60 yuan, rising 33.86% on the opening day, and then fluctuated all the way up, reaching a high of 457.10 yuan at the end of August this year. Even at the current share price, it is up 180% from the offering price.

Today's announcement shows that the company's shareholders Tianjin Sequoia and Beijing Sequoia plan to reduce their holdings of the company's shares by means of block trading and inquiry transfer within six months, and the proportion of reduction does not exceed 7.38% of the total number of shares of the company. among them, the number of shares to be reduced in Tianjin Sequoia does not exceed 3150000 shares, and the proportion of reduction does not exceed 4.34% of the total shares of the company. The number of shares to be reduced by Beijing Sequoia shall not exceed 2201087 shares, and the proportion of reduction shall not exceed 3.03% of the total number of shares of the company.

In addition, Suzhou Aurora borealis plans to reduce its stake by no more than 1.23%, while Shanghai Chendai, Chende Chunhua and Suzhou ChenZhide together reduce their shareholdings by no more than 6%.

Among them, Tianjin Sequoia and Beijing Sequoia are subsidiaries of Sequoia Capital China, and the concerted actions of Shanghai Chendai, Chende Chunhua and Suzhou ChenZhide are Chende Capital. According to today's stock price calculation, Sequoia Capital China may cash nearly 1.8 billion, Chende capital cash amount also reached about 1.4 billion.

According to the prospectus, 50% of Yirui's pre-IPO shareholder list is made up of private equity funds, and after the listing, the company is also a "favorite stock" of public offerings and other major institutions.

According to the semi-annual report, a total of 108 fund companies hold the stock, accounting for 26.67% of the outstanding shares.

And Sequoia Capital China and other private placement "collective reduction", or to cash in part of the investment profit.

Data show that Sequoia Capital China took the lead in round An of Yirui Technology in 2012 and increased its holdings in 2014. Before IPO, Sequoia had a combined shareholding of 19.69%. After IPO, Sequoia Capital China owns 14.75% of the company.

Zhou Kui, partner of Sequoia Capital China Fund, has said that China has the opportunity to have a leading global company in the key components of digital imaging, and Yirui Technology is the most potential player in the market.

According to the semi-annual report, the operating income of Yirui Technology in the first half of this year was about 556 million yuan, an increase of 44.32% over the same period last year; the net profit belonging to shareholders of listed companies was about 210 million yuan, up 91.5% from the same period last year.

It is reported that Yirui Technology was founded in 2011, headquartered in Shanghai, mainly engaged in digital X-ray detector research and development, production and sales, products are widely used in medical diagnosis and treatment, industrial non-destructive testing, security inspection and other fields.

The company's market share in the field of global medical and pet medical digital X-ray detectors increased from 8.09% in 2017 to 12.91% in 2019, the third place in the world, and further consolidated and improved in 2020, ranking first in the domestic market segment.

At present, the X-ray machine with detector as the core component has been widely used in medical and industrial fields in our country. According to the statistics of the Yole research report, the global market for digital X-ray detectors in 2018 is about US $1.73 billion, of which medical products account for about 74% of the market. Industrial security products contribute to the rest of the market. It is estimated that by 2024, the global market for digital X-ray detectors will reach US $2.45 billion.