Mar. 6, 2007 (China Knowledge) – Shenzhen Changcheng Kaifa Technology Co. <SCKT> <000021> has announced profits of approximately RMB 290 million from the sale of 8.78 million shares of CITIC Securities on Feb. 28.

The first batch of CITIC Securities shares, numbering 4.92 million shares, was sold on Jan. 15, reaping in profits of RMB 148 million for SCKT.

Before the share sale, SCKT held about 13.77 million promoter shares, or 0.46% of the company’s total shares. These shares became tradable on Aug. 15 last year. SCKT currently holds 4.994 million shares, accounting for 0.17% of the total shares outstanding.

Driven by the high share price of CITIC Securities, several shareholders – Youngor, Sinopec Yangzi Petrochemical Co., Sinopec Beijing Yanshan Petrochemical Co., COFCO and CITIC Guoan Group – have sold part of their stakes in CITIC Securities since December 2006.