Lining Sells 250 Thousand Home Stocks

Hong Kong stocks have been sharply adjusted, and the hype of Olympic concept stocks has also been temporarily suspended.

Lining, who was well versed in selling at high prices, reduced his own shares again last Friday.

The disclosure of HKEx's rights and interests revealed that Lining reduced 250 thousand shares of Lining (02331, HK) in July 11th and reduced short positions by 250 thousand shares.

In April 11th, Lining's shareholding ratio was 32.16%, but it fell to 32.04% at the end of May.

After the reduction in July 11th, Lining's good position stock ratio has dropped to 32%.

Lining yesterday closed at HK $18.70, or 5.27%.

Before yesterday's crash, Lining surged 19% in 8 trading days.

BOC International yesterday released a research report on Lining, saying that Lining is the highest exposure brand among Mainland consumer brands, and the exposure rate will not decrease after the Olympic Games.

However, the Bank of China believes that the valuation of Lining is significantly higher than that of the bank's 2009 earnings forecast, reiterating its "inferior to big city" rating, and recommending that investors should ship at high prices, with a target price of HK $18.14.