On December 8, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on December 8, Dong Qingshi increased his holdings at an average price of HK$2.044 per share on December 7$XY ELEC STORAGE (08328.HK)$712,000 common shares worth approximately HK$1,453 million. After the increase in holdings, Dong Qingshi's latest shareholding was 577 million shares, and the good position ratio increased from 73.43% to 73.52%.
This transaction involves other related parties: Dong Qingbo, Li Shengdian, Li Wenyan, Li Xianyi, Li Qingliang, Dong Shizhi, Shi Danhong, Li Qinghuai, Shi Neng Shi, and Wu Yinhe.
What is disclosure of interests?
As required by the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of shares) are required to disclose their share interests in listed companies. The directors and chief executives of a listed company are required to disclose their interests in shares and debentures in the listed company and companies associated with 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 interest in shares of listed companies, and (2) persons who may benefit from transactions involving linked entities of listed companies.