Changfang Lighting announced on Thursday, stockholder Lin Changchun, who has a 5 percent stake in the company, has sold out 2.85 million stocks during Jan. 7-8, 2013 in the ShenZhen Stock Exchange (SZSE). The stocks sold account for around 1.05 percent of the company’s share capital.

After the stock sales, Lin is no longer a company stockholder with more than 5 percent shares. His stake in the company is down to 4.91 percent, and has ownership over 13.4 million stock.