It was reported on May 16 that according to documents disclosed by the Hong Kong Stock Exchange on May 16, YUE TAI INVESTMENT LIMITED sold at an average price of HK$0.51 per share on May 14$HUIXIN CREDIT (01577.HK)$23.254 million H shares worth approximately HK$11.8595 million. After the sale, YUE TAI INVESTMENT LIMITED's latest shareholding was 0 shares, and the good position ratio dropped from 12.92% to 0.00%.
This transaction involves another related party: Wu Weiqi.
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.