It was reported on May 31 that according to documents disclosed by the Hong Kong Stock Exchange on May 31, Zheng Yongxiang increased his OTC holdings at an average price of 0.25 yuan per share (RMB, same unit) on May 29$CHINA WEAVING (03778.HK)$10.92 million common shares, worth about 2,523 million yuan. After the increase in holdings, Zheng Yongxiang's latest shareholding was 192 million shares, and the good position ratio increased from 14.53% to 15.34%.
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.