Bomin Electronics (SHA:603936) controlling shareholders Xu Huan and Xie Xiaomei sold about 10.1 million shares through block trades and centralized bidding, according to a Wednesday filing with the Shanghai bourse.
The shares represented about 1.56% of the company's total share capital.
Following the reduction, Xu and Xie's shareholding ratio fell to 15.81% from 17.37%.
Company shares fell 3% during afternoon trading on Wednesday.