If A shares are listed in Hong Kong, all the split shares will be held by HKEx and then sold to Hong Kong investors. The combination of all H shares is called Hong Kong Securities Clearing (Agency) Limited, which is a wholly-owned subsidiary of the Hong Kong Stock Exchange. Investors' shares are centrally deposited with the Hong Kong Securities Clearing Company Limited.
Why do many listed companies have Hong Kong Securities Clearing Company Limited on their shareholder lists?
Hong Kong Securities Clearing Company Limited is a wholly-owned subsidiary of the Stock Exchange of Hong Kong. It is responsible for operating the central clearing and settlement system in Hong Kong and is a recognized clearing institution. This company should only be an intermediary company with centralized liquidation in the background, recording and managing the shareholding of each shareholder, rather than the actual shareholding. All the shares of H-share shareholders are in this name, but they are actually held by various shareholders.
The shares in the account of Hong Kong Securities Clearing Company Limited are the sum of the shares in the accounts of H-share shareholders, and the rights and interests of these shares still belong to the investors themselves. Therefore, for those who own both A shares and H shares, the share of H shares is represented by Hong Kong Securities Clearing Company Limited.