Yang Yuanqing, chairman and CEO of Lenovo Group, lowered his stake in the company to 9.11 percent by selling 2.5 million shares on the Hong Kong bourse on March 8, according to a disclosure released Wednesday by the Hong Kong Stock Exchange.
Yang cashed in HK$17.13 million ($2.21 million) at an average price of HK$6.85 per share. The sale took place less than two weeks after Yang sold 1.6 million shares on February 28 and February 29, netting HK$11 million.
Lenovo's net profits revealed slower yet robust growth for the computer maker in the third quarter, with its profit for the three months ending December 31 up 54 percent year-on-year to $153.46 million.
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