The speculation is either Ganfeng or Yahua sold some of their...

The speculation is either Ganfeng or Yahua sold some of their shares. If its Ganfeng then the sale was just over half of their existing holding and there will need to be a substantial shareholder notice as they have gone below 5%. If its Yahua then they just sold 66% of their holding.

Of these two, Ganfeng seems the better suspect. They originally invested $34m to acquire 100,591,715 shares a year ago.

The just released annual report shows that Ganfeng is now at 90,591,715 shares so somewhere along the line they sold 10m shares. Having sold 10m shares they are a very strong candidate to have sold a further 46.4m further shares. Neither is doing it before more people read the annual report and realise that they have already started dumping stock.

While Yahua could have sold, they retained exactly the same holding between the 2021 and 2022 annual reports.