On December 19, according to documents disclosed by the Hong Kong Stock Exchange on December 19, Luo Wei increased his holdings by an average price of HK$0.218 per share on December 18$NEW FOCUS AUTO (00360.HK)$9 million H shares, worth approximately HK$1,962 million. After increasing his holdings, Luo Wei's latest shareholding amount was 1,269 million shares, and the good position ratio rose from 0.05% to 7.37%.
What 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.