On May 2, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 2, Wang Jianping sold each share at an average price of 14.9 yuan (RMB, same unit) on April 29$CMSC (06099.HK)$102,200 A-shares, worth about 1,522,200 yuan. After the sale, Wang Jianping's latest shareholding was 1 share, and the good position ratio was 0.00%.
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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.