On April 29, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 29, 2023, Jiang Wei sold each share at an average price of 90.0 yuan (RMB, same unit)$HAOHAI BIOTEC (06826.HK)$1.73 million A-shares worth about 156 million yuan. After the sale, Jiang Wei's latest shareholding amount was 77.99 million shares, and the ratio of good positions dropped from 57.60% to 56.35%.
Additional information: The 1,730,000 A-share shares of the listed corporation sold by Mr. Jiang Wei on July 3, 2023 are held indirectly through the Shanghai Zhanze Enterprise Management Partnership (Limited Partnership) under his control. Therefore, corrections have been made to boxes 14, 17 and 20 of the previously submitted forms.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.