Tianli International (HKG:1773) said its chief executive Luo Shi bought a further 500,000 shares of the company from the open market, according to a Friday Hong Kong bourse filing.

The education management firm's shares were down over 1% in morning trade Monday.

The CEO bought the shares at an average price of HK$2.81 apiece.

Luo, who is also the chairman of the firm, owns nearly 920 million shares after the purchase, representing 43.94% of the business.

The executive has been buying company shares since January.