It was reported on July 27 that according to documents disclosed by the Hong Kong Stock Exchange on July 27, Yip Wanhong sold OTC at an average price of HK$0.12 per share on July 25$CHINA PARTYTIME (01532.HK)$252 million common shares with a value of approximately HK$302.023,0231. After the sale, Ye Wanhong's latest shareholding amount was 0 shares, and the ratio of good positions dropped from 17.04% to 0.00%.
Additional information: On 25 July 2023, Mr. Ye Wanhong, Who Owns the Entire Owned the Entire Owned Shares of Master Professional Holdings Limited, Which was raised in 251,859,000 shares (17.04%) of China Partytime Culture Holdings Limtied (“ListCo”), to Mr. Chen Shucai (statement). After the share transfer, Mr. Ye Wanhong Cemetery to Have Interest in the Shares of ListCo held by Master Professional Holdings LimitedWhat is disclosure of interests?
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.