Gelonghui, January 26, 丨 International Commercial Settlement (00147.HK) issued an announcement. The company was informed by Yuan Liang, the company's executive director, that on January 23, 2024, he had signed a transfer document to transfer 30% of his shares in Changhong Co., Ltd. (“Changhong”) (the controlling shareholder holding about 63.43% of the company's total issued share capital) to Ren Yu.
Immediately prior to the transfer, Mr. Ren and Mr. Yuan directly owned 70% and 30% of Changhong's interests. Following the transfer, Changhong will be wholly owned by Mr. Ren. According to Section XV of the Securities and Futures Regulations, Mr. Ren will continue to be regarded as having an interest in the company's shares held by Changhong, and Mr. Yuan will no longer have any interest in Changhong.