(Yicai Global) March 29 -- Martin Lau, president of one of China's biggest tech firms, Tencent Holdings Ltd., has sold one million shares in the company at an average price of HKD434.36 per share, thereby cashing out more than HKD400 million (USD50.9 million), Hong Kong Stock Exchange data shows.

Lau has cashed out some of his stocks or exercised options related to the Shenzhen-based conglomerate almost every year. Prior to this most recent sale, he had converted a total of HKD1.2 billion over the past three years, including HKD666 million in 2015, HKD559 million in 2016, and HKD180 million in early 2017.

The Tencent President has cashed out almost HKD3 billion over the past decade, including this most recent instance. Lau's remuneration is CNY122 million, according to the firm's financial report.

HKEx data indicates that before the most recent reduction, Lau held 16.5 million shares with exercisable options and 48.16 million actual shares, worth a combined HKD19.8 billion based on Tencent's closing price of HKD412.2 on March 28.

Martin Lau, who formerly worked in McKinsey & Company and Goldman Sachs' Asian investment banking department, is considered a key figure in Tencent's internationalization efforts, and he once served as the firm's Chief Investment Officer.