It was reported on April 2 that according to documents disclosed by the Hong Kong Stock Exchange on April 2, Pioneer Top Holdings Limited increased its holdings at an average price of HK$3.719 per share on March 28$CHINA XLX FERT (01866.HK)$899,000 common shares worth approximately HK$3.343,400. After the increase in holdings, Pioneer Top Holdings Limited's latest shareholding was 425 million shares, and the good position ratio increased from 34.79% to 34.86%.
This transaction involves another related party: Liu Xingxu.
Additional information: Mr. Liu Xingxu beneficiaries owned 42% of the equity interest in Pioneer Top Holdings Limited, Mr. Liu Xingxu is irrevocably arguing the absolute right to exercise the voting rights and the rights to the voluntary management of Pioneer Top Holdings Limited.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.