November 22 -- Ningbo Kangqiang Electronics (002119.SZ), a maker of lead frames, said its third-largest shareholder, Jieqiang Investment, sold a total of 7.4 million shares, or a 3.81 percent stake, in the November 1-21 period, reports yicai.com, citing a company filing.

Following the stake disposal, Jieqiang Investment has 9.65 million shares, or a stake of 4.97 percent.

Jieqiang Investment said the shares were sold in order to free up funds for investment in other areas, and added that it may further reduce its stake in the next 12 months.