On February 2, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on February 2, 2023, Xu Qiang increased his OTC holdings at an average price of HK$0.68 per share$QI-HOUSE (08395.HK)$13 million common shares worth approximately HK$8.84 million. After increasing his holdings, Xu Qiang's latest shareholding was 100 million shares, and the good position ratio increased from 5.51% to 6.33%.
Additional information: The total shares held immediately before the relevant event is considered from 93,100,000 to 87,260,000 and the total shares held immediately after the relevant event is considered from 106,100,000 to 100,260,000.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 the stock interests of listed companies, and (2) persons who may benefit from transactions involving linked entities of listed companies.