Ruisen Life Service (HKG:1922) said its controlling shareholder, Huang Qingping, has ceased to hold control after his wholly owned vehicle, Silver Huang, sold about 67.1 million shares, or 25.13% of the company's issued share capital, to Chen Xiao, according to a Friday Hong Kong bourse filing.

Following the transaction, Chen Xiao became a substantial shareholder with a 25.13% stake.

Silver Huang's holding fell to about 3.74%, while Huang's aggregate interest declined to roughly 5.20%, leaving him no longer the controlling shareholder.

Trading in the company's shares has remained suspended since Aug. 28, 2024, and will continue to be halted until further notice, the filing said.