TREE NEWS update: Shengshida signed an agreement with Guangzhou Xintu on October 10, 2026 to transfer 45.0721 million shares of Rongfeng Holding, equal to 29.99% of total share capital, via negotiated transfer. Guangzhou Xintu intends to launch a partial tender offer for a further 5.01% of the shares. Rongfeng Holding’s stock will resume trading on the morning of October 13, 2026.
Rongfeng Holding Controlling Stake Sold; Shares Resume Trading Oct 13
A 29.99% negotiated transfer paired with an intent to tender for another 5.01% points to a change of control structured to land just under the 30% threshold that would normally trigger a mandatory full offer — a familiar sequencing in A-share dealmaking. The practical effect falls on remaining shareholders, whose position now hinges on the terms and pricing of the partial tender rather than on the secondary market. Whether the tender is completed as signalled, and at what level, is the open question once trading resumes.
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