Major Shareholder of Jingwei TianDi Reduces Holdings by 71.6 Million Shares to 10.01%
Hong Kong-listed company Jingwei TianDi (02477.HK) announced on October 21, 2026, that its major shareholder, Hengfeng International Holdings, sold 716 million shares in the open market, accounting for approximately 14.93% of the issued share capital, for a total consideration of about HKD 107 million, with an average selling price of approximately HKD 0.1494.
After the sale, Hengfeng International's holdings decreased from 1.196 billion shares to 480 million shares, with the shareholding ratio dropping from 24.94% to about 10.01%, still maintaining its status as a major shareholder. Hengfeng International is 78.56% owned by the company's executive director and chairman, Qian Fenglei.
The announcement stated that due to the public market transaction, the identity of the buyer could not be determined. The board believes that this sale will not adversely affect the group's business operations and future prospects. Jingwei TianDi was included in the Hong Kong Stock Connect in March 2026.
Qian Fenglei previously increased his stake through Hengfeng International, becoming the company's major shareholder. After this reduction, his indirect holdings through Hengfeng International have significantly decreased.
The company did not disclose any further sale plans. The announcement reminded shareholders and potential investors to exercise caution when trading the company's securities.
From a market mechanism perspective, significant reductions by major shareholders in the open market create supply pressure, which may affect short-term liquidity and investor sentiment. The reduction by major shareholders of Hong Kong Stock Connect targets signals an adjustment in the structure of southbound capital holdings. The identity of the buyer is unclear, and the flow of funds is dispersed.
Source: Public Information
ABAB AI Insight
Jingwei TianDi (02477.HK) major shareholder Hengfeng International is controlled 78.56% by Qian Fenglei. Qian previously increased his stake through multiple transactions, making Hengfeng International one of the largest shareholders. On October 21, 2026, Hengfeng International sold 716 million shares in the open market at an average price of HKD 0.1494, reducing its stake to 10.01%.
In terms of capital flow, funds are moving from the major shareholder to buyers in the open market. Qian Fenglei realizes partial cashing through Hengfeng International while retaining his status as a major shareholder. The previous increase in stake indicates an active layout, and this reduction represents a reverse operation.
This is similar to other cases of major shareholders of Hong Kong companies reducing their holdings in the open market. The company is currently in a phase of significant changes in its equity structure after being included in the Hong Kong Stock Connect.
Essentially, this reflects a decrease in equity concentration. The major shareholder reduces its holding ratio through open market sales but does not fall below the major shareholder threshold. The mechanism is that open market transactions lead to dispersed buyers, and the company announcement confirms no business impact, but the change in holdings itself alters control structure signals.
ABAB News · Cognitive Law
- Major shareholder reduces holdings just enough to remain a major shareholder.
- Selling in the open market, unclear who the buyers are.
- Holdings drop from nearly 25% to 10%, weakening control signals.