Dr Shi Xu, executive chairman of Nanofilm Technologies International, has increased his stake in the company. On Oct 14, Shi acquired 200,000 shares for $741,580 or $3.70 each. Back in July, Nanofilm had traded at a recent peak of $6.67.

With this transaction, Shi’s total interest in the company increased to just over 356 million shares or 54.09% from 54.06%. His interest comprises a direct stake of nearly 44.5 million shares or 6.75% as well as a deemed stake of nearly 311.6 million shares or 47.34%.

Shi bought the shares on the same day the company gave an interim update in between its 2Q and final-year earnings. Nanofilm, the hottest IPO last year, gave investors a rude shock in August after announcing earnings for 1HFY2021 ended June 30 had dropped by 3.1%, compared to the continuing growth trajectory analysts were expecting.

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