September 1 -- Hubei Xingfa Chemicals Group (600141.SH) reported that its second-largest shareholder, Dongxing Shanxian Hydropower Specialized, sold four million shares in the company, or 1.09 percent of total equity, during the period between January 5 and August 31, 2011, reports p5w.net, citing a company filing.

Following the transaction, the Dongxing Shanxian holds 23.46 million shares, or a 6.42 percent stake in the company.