Insiders Back the Dip While JPMorgan Trims Hong Kong Tech

The most striking pattern in recent filings is the relentless accumulation of Li Ning Company by its controlling vehicle. Viva China Holdings filed a series of open-market purchases across late August and early September, totalling more than $158M across five disclosed trading days. The buying ranged from $13.6M to $67M in a single session. Viva China holds over 10% of 2331 and sits on the board, making these discretionary purchases a strong vote of confidence in the Hong Kong-listed sportswear group at current prices.

The contrast with JPMorgan's activity is sharp. The US bank, acting in a custodial or proprietary capacity as a disclosed 5% owner, filed sales across several Hong Kong-listed technology names on 2 September. It trimmed $84.9M from Kingdee International Software 268 and $70.8M from Sunny Optical Technology 2382, while simultaneously adding $26.9M in Huaneng Power International 902. The moves suggest rotation away from China software and optics into utilities.

Closer to home, UBER President and COO Andrew MacDonald filed a $4.1M open-market purchase of 54,325 shares on 4 September. The filing was reported on 8 September. Discretionary C-suite buying of this size, paid at market price, carries more signal than a routine award or option exercise.

In Turkey, Burçelik Vana's chairman Umit Gumus filed a $12.9M purchase on the same date that an asset manager offloaded $13.6M in the same stock. Two large opposing trades in one session at BURVA point to a transition in the shareholder register worth watching.

Note: ORTEX's US EDGAR Form 4 tables were unavailable in this session. US insider data above is sourced from the vendor table, which covers non-US markets most comprehensively. The most recent filings available are dated 8 September 2026.