It was reported on January 17 that according to documents disclosed by the Hong Kong Stock Exchange on January 17, Hong Kong Tengchuang Dexin International Limited sold off the market at an average price of HK$0.55 per share on January 17$QIDIAN GUOFENG (01280.HK)$6.9794 million common shares worth approximately HK$3.838,700. After the sale, the latest number of shares held by Hong Kong Tengchuang Dexin International Co., Ltd. was 10.702 million shares, and the good position ratio dropped from 8.06% to 4.88%.
This transaction involves another related party: Chen Bo.
Photo source: Stock Exchange's equity disclosure (partial table of this incident)
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.
