Shen Yanan, co-founder and president of electric vehicle maker Li Auto, sold 600,000 shares of the company’s Hong Kong-traded shares on September 6.
Shen sold the shares at an average price of about HK$103, worth a total of about $8 million. After the sale, Shen’s stake in Li Auto declined from 1.71% to 1.68%, according to a Hong Kong Stock Exchange filing.
Earlier, Shen had sold 400,000 Li Auto shares on September 2, reducing his stake from 1.74% to 1.71%. Shen cut his stake in Li Auto 9 times in December 2021, from 1.87% on December 6, 2021 to 1.75% on December 17.