It was reported on January 11 that according to documents disclosed by the Hong Kong Stock Exchange on January 11, Chen Qingda increased his holdings at an average price of HK$6.3388 per share on January 10$SOUNDWILL HOLD (00878.HK)$109,000 common shares worth approximately HK$690,900. After the increase in holdings, Chen Qingda's latest shareholding was 212 million shares, and the good position ratio increased from 74.85% to 74.89%.
This transaction involves other related parties: Fu Jinzhu, Century Pine (PTC) Limited, and Chen Huiling.
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.