Chiho Environmental Group Limited ( (HK:0976) ) has issued an update.

Chiho Environmental Group Limited has disclosed that controlling shareholder USUM Investment Group Hong Kong Limited transferred 240,772,843 shares, or 15% of the company’s issued share capital, to related entity USUM Phoenix Capital Management Limited at nil consideration. Both entities are ultimately controlled by New Jurong (Chongqing) Information Technology Services Co., Ltd., which became indirectly interested in about 60.95% of Chiho’s shares in March 2025 following a court-approved reorganisation of Loncin Group and related companies.

The latest share transfer forms part of that broader reorganisation plan and is intended to unify management of the shares to implement debt repayment arrangements under the restructuring. Trading in Chiho’s shares has remained suspended on the Hong Kong bourse since April 2025 and will continue until the company satisfies the Stock Exchange’s resumption requirements, leaving investors without liquidity and highlighting ongoing uncertainties around its financial restructuring and governance.