Feilong Auto Components (SHE:002536) controlling shareholder Henan Wanxi Holding completed its share reduction plan, selling 6.2 million shares, or 1.08% of total share capital.
Following the reduction, Wanxi Holding and its concert parties' combined stake fell to 35.59% from 36.67%, according to a Wednesday filing with the Shenzhen bourse.
Shares of the auto parts company closed 2% higher Tuesday.