Hengfeng International, controlled by Zhejiang businessman Qian Fenglei, sold 716 million shares of Hong Kong-listed Jingwei Tiandi at an average price of HK$0.1494 per share on October 21, cashing out approximately HK$107 million. The stake reduction brought Hengfeng's ownership in Jingwei Tiandi down from 24.94% to 10.01%. Jingwei Tiandi was added to the Southbound Stock Connect in March 2026, enabling mainland investors to trade the stock directly. The major shareholder's large-scale sell-off is expected to impact southbound investor sentiment.