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, which may lead to a change in the controlling shareholder and actual controller. Trading in the company's shares will be suspended from the market open on October 8, for no more than two trading days. On the last trading day before the suspension, September 30, Rongfeng Holdings' share price closed at 18.69 yuan per share, up 9.94%, with a total market value of 2.809 billion yuan. As of September 23, Shengshida held 60.6098 million shares of Rongfeng Holdings, representing a 39.97% stake. Of these, 59.9261 million shares are pledged and 2.1866 million shares are subject to judicial freezing, meaning more than 99% of its holdings are in a pledged state. This means Shengshida must first release the share pledges to complete the transaction. Rongfeng Holdings' main business is divided into two segments: real estate development and operation, and cross-border logistics. The company plans to gradually exit the real estate industry within three years starting from 2025 and transform into the cross-border logistics industry. In the first half of 2026, cross-border logistics business revenue accounted for 82.61% of total revenue, but the company is still in a loss-making state, with net profit attributable to the parent company of negative 24.1282 million yuan and net profit after deducting non-recurring items of negative 25.4609 million yuan for the period.
Rongfeng Holding GroupControlling shareholder Shengshida plans a change of control, potentially changing the controlling shareholder and actual controller, though over 99% of its stake is pledged and must be released first.
