Rongfeng Holdings announced on the evening of October 7 that its controlling shareholder, Shengshida Investment Co., Ltd., is planning a change of control of the company. This matter may lead to a change in the company's controlling shareholder and actual controller. Trading in the company's shares will be suspended from the market open on October 8, with the suspension expected to last no more than two trading days. Notably, Rongfeng Holdings' shares had just hit the daily limit-up on the previous trading day. The company said it received notice from Shengshida on September 30, 2026, and that the parties involved are currently discussing and deliberating on the relevant matters, which remain subject to significant uncertainty. According to the company's 2026 semi-annual report released on August 21, the company achieved total operating revenue of 124 million yuan, up 5.49 percent year on year. Net profit attributable to shareholders of the listed company was a loss of 24.13 million yuan, narrowing the loss by 3.55 percent year on year. In terms of revenue structure, cross-border logistics has become the company's largest main business. During the reporting period, cross-border logistics revenue reached 102 million yuan, accounting for 82.61 percent of operating revenue, up 2,302.23 percent year on year, while real estate development revenue was 9.38 million yuan, accounting for 7.59 percent of operating revenue, down 89.64 percent year on year. The company previously disclosed that it plans to gradually exit the real estate industry within three years starting from 2025 and transform into the cross-border logistics industry. In the secondary market, Rongfeng Holdings' share price has risen by a cumulative 93.48 percent since the beginning of 2026.
Rongfeng Holding GroupControlling shareholder Shengshida is planning a change of control, a potential M&A/ownership event with significant uncertainty, prompting a trading suspension.
