On June 24, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on June 24, Wang Wenjing increased his off-market holdings at an average price of 3.66 yuan (RMB, same unit) per share on June 21$CHANJET (01588.HK)$5.7515 million domestic shares worth approximately RMB 21.503 million. After the increase in holdings, Wang Wenjing's latest shareholding was 222 million shares, and the good position ratio rose from 88.85% to 91.21%.
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.