Chiho Environmental Group (00976.HK): Controlling Shareholder Transfers 15% Stake as Part of Debt Repayment Arrangement under Restructuring Plan

NewTimeSpace News: On 30 June 2026, Chiho Environmental Group (00976.HK) issued an inside information announcement stating that, according to public information, Yu Shang Investment Group (Hong Kong) Limited, the Company’s controlling shareholder, transferred 240,772,843 shares of the Company, accounting for 15% of its issued share capital, to Yu Shang Phoenix Capital Management Limited at nil consideration on 15 June 2026.

Following the transfer, the shareholding of Yu Shang Hong Kong decreased from 978,383,181 shares (approximately 60.95%) to 737,610,338 shares (approximately 45.95%). Both Yu Shang Hong Kong and Yu Shang Phoenix are ultimately beneficially owned by Xinjiulong (Chongqing) Information Technology Service Co., Ltd., in which Mr. Zhao Mingjun holds a 99% equity interest.

The announcement noted that the share transfer forms part of the restructuring plan of Loncin Group, designed to centralise shareholding management for implementing debt repayment arrangements stipulated under the restructuring plan.

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