万科公司2015年年报、2016年半年报中披露万科管理层仅持股0.2%,随着“宝万之争”持续发酵,与万科管理层关系密切的金鹏、德赢两大资管计划(合计持股超过5%)的信息披露合规问题引发了监管机构、市场和媒体的高度关注。本文以万科公司内部人持股披露为例,结合成熟市场的立法和监管实践,分析现行内部人持 Vanke’s 2015 Annual Report and 2016 Semi-annual Report disclosed that Vanke’s management only held 0.2% stake. As the “Bao-Wan Conflict” continued to be fermented, Jinpeng and De-Win, which are closely related to Vanke’s management, (More than 5% of the total shareholding) disclosure issues led to regulators, markets and media attention. This article takes Vanke insider shareholding disclosure as an example, combined with the mature market legislation and regulatory practice, analysis of the current internal hold