According to documents disclosed by the Stock Exchange on September 15, Xu Zhiming increased his holdings at an average price of HK $0.1161 per share on September 9.$WISDOM WEALTH (00007.HK)$874000 shares worth about HK $101500. After the increase, Xu Zhiming's latest number of shares is 3.876 billion shares, and the proportion of long positions has increased from 66.77 per cent to 66.78 per cent.
Photo source: equity disclosure of the Stock Exchange
What is equity disclosure?
As required by the Stock Exchange, major shareholders (individuals and companies holding 5% or more shares) are required to disclose their interests in shares of listed companies. The directors and chief executives of a listed company shall disclose their interests in shares and debentures of the listed company and the company associated with the listed company.
Why is equity disclosure important?
Equity disclosure enables investors to identify (1) those who control or have the ability to control the shares of listed companies, and (2) those who may benefit from transactions involving associated entities of listed companies. Investors can make investment decisions based on the disclosure of their interests (the behavior of increasing or reducing their holdings).