CITIC Guoan Information Industry (SHE:000839) plans to reduce its 1% holdings in Hubei Broadcasting and Television Information Network, according to a Shenzhen bourse filing on Friday.

The stake represented 11,371,400 shares.

CITIC Guoan currently owns 5.71% of the media broadcasting company, which represents 64,907,505 shares.

The computer network infrastructure and information service provider's shares dropped less than 7% during the afternoon trade.