Chiho Environmental: Controlling Shareholder Cuts Holding to 45.95% After Free Transfer of 15% Stake to Affiliate

Bulletin Express06-30

Chiho Environmental Group Limited announced that controlling shareholder USUM Investment Group Hong Kong Limited transferred 240.77 million shares, equal to 15.00% of the company’s issued share capital, to fellow New Jurong-controlled vehicle USUM Phoenix Capital Management Limited on 15 June 2026 at nil consideration.

Post-transaction, USUM Hong Kong’s stake fell from 978.38 million shares (60.95%) to 737.61 million shares (45.95%). Both USUM Hong Kong and USUM Phoenix are ultimately owned by New Jurong (Chongqing) Information Technology Services Co., Ltd., which is 99% held by Mr. Zhao Mingjun.

The transfer forms part of a court-approved reorganisation plan for Loncin Group Co., Ltd. and 12 related entities. Under that plan, 100% of Loncin Group was assigned to New Jurong at nil consideration on 14 March 2025, giving New Jurong indirect control over 60.95% of Chiho Environmental’s shares. The latest share move consolidates share management to facilitate debt-repayment arrangements specified in the restructuring.

Trading in Chiho Environmental’s shares has been suspended since 1 April 2025 and will remain halted pending fulfillment of Hong Kong Stock Exchange resumption guidance.

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