On December 27, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on December 27, Li Wenyan increased his holdings at an average price of HK$2.0 per share on December 22$XY ELEC STORAGE (08328.HK)$432,000 common shares worth approximately HK$864,000. After the increase in holdings, Li Wenyan's latest shareholding was 579 million shares, and the good position ratio increased from 73.73% to 73.78%.
This transaction involves other related parties: Li Shengdian, Li Qinghuai, Dong Shizhi, Li Xianyi, Shi Nengshi, Dong Qingshi, Li Qingliang, Shi Danhong, Dong Qingbo, 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 enables investors to identify (1) persons who control or have the ability to control the shares of a listed company, and (2) persons who may benefit from transactions involving associated entities of the listed company.