HK Stock Market Move | MEITU (01357) fell more than 5% during trading, major shareholder Cai Wensheng reduced holdings by 128 million shares, and the company's founder promised to increase holdings at the right time.

MEITU (01357) fell more than 5% intraday, with a decrease of 4.55% by the time of writing, trading at 5.66 Hong Kong dollars with a trading volume of 3.51 billion Hong Kong dollars. On the news front, MEITU recently announced that a major shareholder, Cai Wensheng, sold 128 million shares of the company between February 17 and February 21, 2025, accounting for approximately 2.81% of the total number of issued shares of the company. The Board of Directors was informed by the company's founder, Chairman, and CEO Wu Zeyuan that he is confident in the company's future business prospects and will further increase his holdings of the company's shares at an appropriate time after the company's annual performance announcement and the end of the lock-up period (after March 18, 2025). It is reported that Cai Wensheng was a core founder of MEITU when it was listed on the Hong Kong stock market in 2016. Since listing, Cai Wensheng and his family have made several large-scale reductions in their holdings of MEITU. Cai Wensheng's shareholding percentage has decreased from 38.32% at the time of listing to the current 20.62%. In addition, after MEITU went public, as an important shareholder with a stake of over 5%, Cai Wensheng's son, Cai Rongjia, also carried out a series of sell-offs in the first half of 2017.