On May 27, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 27, China Grand Automotive Services (Hong Kong) Limited Guanghui Auto Services (Hong Kong) Limited increased its holdings at an average price of HK$0.191 per share on May 21$GRAND BAOXIN (01293.HK)$3.04 million common shares worth approximately HK$586,600. After the increase in holdings, the latest shareholding of China Grand Automotive Services (Hong Kong) Limited Guanghui Auto Services (Hong Kong) Co., Ltd. was 1,945 million shares, and the good position ratio increased from 68.45% to 68.56%.
This transaction involves other related parties: China Grand Automotive Services Co. , Ltd., China Grand Automotive Services Group Co., Ltd., China Grand Automotive Services Group Co., Ltd. (formerly known as China Grand Automotive Services Co., Ltd.) and Shanghai Huiyong Automotive Distribution Co., Ltd. Shanghai Huiyong Automobile Sales Co., Ltd.
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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.
