November 2 -- Guangxi Liugong Machinery (000528.SZ) reported yesterday evening that controlling shareholder, Guangxi Liugong Machinery Group, bought 1.06 million shares of the listed company, equivalent to 0.094 percent of the total share capital, reports yicai.com, citing a company filing.

Following the share purchase, Liugong Machinery Group will hold 393.37 million shares of Liugong Machinery, equivalent to 34.958 percent of the total share capital.

Liugong Machinery Group will continue to increase its stake in Liugong Machinery by up to two percent through share purchases on the secondary market over the next 12 months.

In addition, Liugong Machinery Group said it will not sell shares of the company during the same period.