After Foshan Lighting Clearance Bank of Communications followed Jiuzhitang (10.07, 0.01, 0.10%, bar), another small non-clearing house held the shares of the bank. Foshan Lighting (17.05, 0.13, 0.77%, bar) announced on June 2 that the company has sold all of its Bank of Communications (8.99, -0.03, -0.33%, bar) shares through the Shenzhen Stock Exchange trading system. By selling the shares of Bank of Communications, Foshan Lighting's net investment income totaled approximately 227 million yuan.
According to the announcement, Foshan Lighting held a total of 32,727,667 shares of the Bank of Communications, which was listed and circulated after the release of the restricted sale on May 16, 2008.

Foshan Lighting has reduced its shareholding in four hands. Among them, 2,096,367 shares were sold on May 23, 2008, 3,635,040 shares were sold on May 26, 2008, 4,646,260 shares were sold on May 28, 2008, and 22,350,000 shares were sold on May 30, 2008. So far, 32,727,667 shares of its Bank of Communications have been sold.

For Foshan Lighting, this move undoubtedly solved its urgent needs. According to its previously published quarterly report, due to the loss of securities investment, the company had a profit of 71.39 million in the first quarter of 2008. Loss. The company said that the main reason is the loss of securities investment.

After the Bank of Communications's share reform and restricted shares were lifted on May 16, they suffered a small non-selling, which caused the stock price of Bank of Communications to show a downward trend. Prior to this, Jiuzhitang sold off the shares of Bank of Communications after several batches of sell-offs, and the profit was about 44.542 million yuan.

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