On June 17th, according to the documents disclosed by the Hong Kong Stock Exchange, Liu Cheng increased his shareholding at an average price of HKD 7.6443 per share on June 12th.$CITIC BANK (00998.HK)$China Citic Limited Liability Company, the joint entity, reported that Liu Cheng increased his shareholding by 47,000 ordinary shares, worth approximately HKD 359,300. After the increase, Liu Cheng's latest shareholding of the joint entity is 47,000 shares, with a good warehouse ratio of 0.00%.
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According to the requirements of the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of the company's shares) must disclose their shareholding in the listed company. Directors and senior executives of the listed company must disclose their shareholding and equity certificate rights in the listed company and any related companies.
Why is equity disclosure important?
Equity disclosure enables investors to identify (1) individuals who control or have the ability to control the shareholding of the listed company and (2) individuals who may benefit from transactions involving entities related to the listed company.