The Zhitong Finance App learned that after a sharp drop of more than 28% yesterday, Jingwei Tiandi (02477) increased its decline by more than 14% in the afternoon. As of press release, it decreased by 13.28% to HK$0.111, with a turnover of HK$767.68 million.

According to the news, on October 21, Jingwei Tiandi revealed that Hengfeng International Holdings Co., Ltd., the main shareholder of the company, sold 716 million shares of the company's common shares in the open market on October 21. The sale of shares accounted for 14.93% of the company's issued share capital. The total cost was about HK$106.96 million, and the average selling price was about HK$0.1494 per share.

Prior to the sale, Hengfeng International Holdings Co., Ltd. (Executive Director and Chairman Qian Fenglei held 78.56%) held 1,196 million shares of the company, accounting for 24.94%. After the sale, the shareholding ratio dropped to 480 million shares, accounting for 10.01%. Hengfeng will continue to be the main shareholder of the company.

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