For The Reduction Of Lining'S Holdings, The Hong Kong Business Has Shrunk By HK $4 Billion.

As the most iconic Olympic concept stock in Hong Kong stocks, Lining, chairman of the sporting goods company (2331.HK), has a cash loss of 588 million Hong Kong dollars in the former national gymnastics team, which has led to a sharp decline in its stock price for two consecutive days, continuing a 9.79% decline yesterday, closing at HK $18.9.

Anxin securities even issued "Lining chairman reduction, Olympic concept alarm alarm" investment risk prompts.

Compared with Lining's stock price peak of HK $30 per share at the beginning of this year, Lining's personal wealth also shrank by 37%, and the wealth of nearly 4 billion Hong Kong dollars went to naught.

On the evening of 26, the Li Ning Co announced that Lining sold 30 million shares in private placement at the price of HK $19.6 per share after the market closed in March 25th, accounting for nearly 2.89% of the total issue shares, and accounting for 74.71% of the total turnover of Lining shares on that day.

Li Ning Co believes that this is the main reason for the sudden enlargement of the volume of Lining shares on the 26 day.

On the 26 day, Lining's share price fell 2.33% to HK $20.95.

On the second th, Lining's shares opened lower and continued to fall. The lowest touch was HK $18.74, which ended at HK $18.9 and traded at HK $220 million.

In 2007, Lining ranked 65 in the top 100 list of China's mainland, which was issued by hun hun, with a price of 10 billion yuan.

Today, its stock has shrunk by 37% as the share price declines, but compared with the average of the top ten richest people in the list, which has shrunk by an average of 41% and the highest shrinkage has reached 72%, the stock price of Li Ning Co, which is supported by the Olympic concept, is still strong.

HKEx's notice of interest disclosure shows that since March 26th this year, Lining himself has reduced shares for 9 times, holding shares from 35.16% at the beginning of the year to 32.17%, of which the reduction is the largest in this year's reduction.

Li Ning Co's share price slipped from the highest HK $30 in the year to less than HK $19.

The announcement shows that Lining's reduction will be mainly used for sports and private investment capital management purposes.

Li Ning Co investor relations department revealed that the above uses are mainly non-profit purposes.

Public information shows that recently, Li Ning Co is vigorously launching a series of sports related activities, such as "Lining 08 China trip" and so on.