Meitu Inc (1357.HK) shares plummeted 12.12% in Tuesday's trading session, following the disclosure that a substantial shareholder disposed of a significant number of shares in the company.

According to a brief company announcement, a substantial shareholder of Meitu sold a total of 128 million shares between February 17 and February 21. The share disposal appears to have triggered concerns among investors, leading to a steep decline in Meitu's stock price.

While the exact reasons for the substantial shareholder's share sale were not disclosed, large-scale insider selling often raises questions about the company's prospects and can negatively impact investor sentiment.