Ruisen Life Service Co (1922) announced that Silver Huang Holding Limited, a company wholly owned by Mr. Huang, sold 67,135,472 shares of the company to Chen Xiao, constituting approximately 25.13% of the total issued share capital. Following this transaction, Chen Xiao has become a substantial shareholder.

Upon completion of the share transfer, Silver Huang now holds 10,002,000 shares, representing about 3.74% of the total issued share capital, and no longer retains substantial shareholder status. Mr. Huang’s total shareholding has decreased to about 5.20%, resulting in the loss of controlling shareholder status.

Chen Xiao, described as a PRC citizen and an independent third party before the transfer, directly holds 67,135,472 shares, representing approximately 25.13% of the total issued share capital.

Trading in the company’s shares on the Stock Exchange has been suspended since 9:04 a.m. on 28 August 2024 and will remain suspended until further notice. The company intends to release additional announcements in compliance with listing requirements as the situation develops.