On May 16, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 16, Wang Yichuan sold OTC on March 22 at an average price of HK$0.36 per share$CHINA HONGGUANG (08646.HK)$1.5 million common shares worth approximately HK$540,000. After the sale, Wang Yichuan's latest number of shares held was 24 million shares, and the ratio of good positions dropped from 6.39% to 6.01%.
Additional information: After the relevant incident occurred, Mr. Wang Yichuan's interests in square 16 were 24,000,000 shares.
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According to the requirements of the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of the shares) are required to disclose their shareholding interests in listed companies. The directors and top executives of a listed company are required to disclose their interests in the shares and debentures of the listed company and companies linked to the listed company.
Why is disclosure of interests important?
Disclosure of interests allows investors to identify (1) persons who control or are capable of controlling the stock interests of listed companies, and (2) persons who may benefit from transactions involving linked entities of listed companies.