On June 26, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on June 26, Xie Yonglin increased his OTC holdings at an average price of 52.8858 yuan per share (RMB, same unit) on June 21$PING AN (02318.HK)$377,500 A-shares worth approximately RMB 19.9659 million. After the increase in holdings, Xie Yonglin's latest shareholding was 2,5443,600 shares, with a good position ratio of 0.02%.
Additional information: BOX-24:377,529 shares with the average price of 52.8858 were vested to Xie Yonglin considered to the Company's Key Employee Share Purchase Plan, which expenses of 87,059 shares, 139,802 shares and 150,668 shares paid at the price of 73.13, 47.56 and 46.13 shares. BOX-27:1,223,278 A shares were considered to Mr. Xie as part of his payroll under the company's Long Term Service Plan. The shares are held by a trust and will be vested upon his retirement subject to certain conditions.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.