Reported on July 4th, according to the documents disclosed by the Hong Kong Stock Exchange on July 4th, Zhang Songqiao increased his shareholding on June 28th at an average price of HKD 7.2 per share.$CROSS-HAR(HOLD) (00032.HK)$He purchased 100,000 ordinary shares, valued at approximately HKD 720,000. After the increase, Zhang Songqiao's latest shareholding amounted to 273 million shares, and his warehouse ratio increased from 73.18% to 73.21%.
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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.