On July 2nd, Pioneer Top Holdings Limited disclosed in documents filed with the Hong Kong Stock Exchange that it increased its shareholding on June 28th at an average price of HK$3.88 per share. The company purchased 449,000 ordinary shares valued at approximately HK$1.7421 million. Following the share purchase, Pioneer Top Holdings Limited now holds 426 million shares, and its stake increased from 35.07% to 35.11%.$CHINA XLX FERT (01866.HK)$HKEXAutoNews_CS20240628E00538.png
This transaction involves other related parties: Liu Xingxu.
Supplementary information: Mr. Liu Xingxu holds 42% of Pioneer Top Holdings Limited's equity, and he has been granted the absolute discretion to exercise voting rights and rights to the day-to-day management of Pioneer Top Holdings Limited.What is equity disclosure?
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.