On January 4, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on January 4, Tembusu HZ II Limited increased its OTC holdings at an average price of HK$0.18 per share on December 29, 2023$CHINA YOUZAN (08083.HK)$1,617 million common shares worth approximately HK$291 million. After the increase in holdings, the latest number of shares held by Tembusu HZ II Limited was 1,717 million shares, and the good position ratio increased from 0.54% to 5.21%.
The transaction involved other related parties: Shanghai Jingwei Equity Investment Management Co., Ltd., Jingwei Chuangda (Hangzhou) Venture Capital Partnership (limited partnership), Hangzhou Jingwei Tengchuang Investment Management Partnership (limited partnership), and Zuo Ling Ye.
What is disclosure of interests?
As required by the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of the shares) are required to disclose their share interests in listed companies. The directors and top executives of a listed company must disclose their interest in shares and debentures of the listed company and the company 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 interest in shares of listed companies, and (2) persons who may benefit from transactions involving linked entities of listed companies.