On May 17, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 17, Chen Zheng increased his holdings at an average price of 8.0364 yuan per share (RMB, same unit) on April 24$XINHUA WINSHARE (00811.HK)$461,000 H shares worth about 3.704,800 yuan. After increasing his holdings, Chen Zheng's latest shareholding was 22.158 million shares, and the good position ratio increased from 4.91% to 5.01%.
This transaction involves another related party: Beijing Fengquan Investment Management Co., Ltd.
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.