On November 4, 2026, Morgan Stanley disposed of 320,893 shares of ZJ INNOLIGHT (03308), cutting its holding below 5%; the filing noted the decrease related to shares over which Morgan Stanley may exercise its right to rehypothecate or dispose of, and the transaction was not identified as a direct SEHK open-market dealing.
Prior to the disposal, Morgan Stanley’s long position in ZJ INNOLIGHT was 3.34 million shares, representing 5.32%; following the disposal, the holding changed to 3.02 million shares, with the long position ratio falling to 4.81%.