Sheen Tai Holdings (01335.HK) opened high today with a 19.33% increase. At noon, it issued an announcement stating that its controlling shareholder plans to sell 25% of its equity. In the afternoon, the stock increased by 0.175 yuan, up 47.1% at one point, and is now trading at 0.156 yuan, up 31.09%, with a turnover of 2.894 million shares and a total capital of 461,600 yuan.

The company announced that Shun Tai Group, held by Chairman Guo Yumin, will sell a total of 609 million shares of selling shares to Baoheng Group, accounting for approximately 25% of the company's issued share capital and totaling 152 million yuan. After completion, the shareholding of Sheen Tai, Guo Yumin and his spouse, as well as executive director Xia Yu, in the company will be reduced from about 62.1% to 37.1%, continuing to be the controlling shareholder of the company.