Furande fell nearly 7% at one point, and Shenghe Partners, a shareholder, plans to reduce its stake in the company by no more than 3%.

Furande dropped as much as 6.86% to 12.08 yuan in early trading today. Furande announced yesterday that its shareholder Hangsheng Partnership plans to reduce its holdings of the company's shares by a total of no more than 14.7849 million shares, with a total reduction ratio not exceeding 3% of the company's total share capital.