According to documents disclosed by the Hong Kong Stock Exchange on September 13, Beijing Caifeng Technology Development Co., Ltd. sold it over the counter at an average price of 0.2385 yuan per share on September 10.$BEIDA JADE BIRD (08095.HK)$115 million domestic shares, worth about 27.4275 million yuan. After the sale, the latest number of shares held by Beijing Caifeng Technology Development Co., Ltd. is 85 million shares, and the proportion of long positions has decreased from 28.57% to 12.14%.
This transaction involves other related parties: Beida Microelectronics Investment Co., Ltd., Caifeng Holdings Co., Ltd., Peking University, Beijing Beida Jade Bird Software Systems Co., Ltd., Gifted Pillar Limited and Beida Asset Management Co., Ltd.
What is equity disclosure?
According to the requirements of the Hong Kong 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.