On March 15, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on March 15, Shanghai Xuanyu Enterprise Management Co., Ltd. (Shanghai Xuanyu Enterprise Management Co., Ltd.) sold at an average price of HK$4.0 per share on December 20, 2023$SINOHEALTH HLDG (02361.HK)$7.505 million common shares worth approximately HK$30.02 million. After the sale, Shanghai Xuanyu Enterprise Management Co., Ltd. (Shanghai Xuanyu Enterprise Management Co., Ltd.) recently held 16.236 million shares, and the good position ratio dropped from 5.25% to 3.59%.
Additional Information: Box 17: On 20 December 2023, Tianyi (BVI) Limited (a wholly-owned subsidiary of Shanghai Xuanyu Enterprise Management Co., Ltd) completed a sale of 7,500,500 shares of the issuer and Catch up to have at least 5% interest in the issuer. As a result, Shanghai Xuanyu Enterprise Management Co., Ltd also censures to have a notiring interest in the issuer.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.