The latest update is out from Chiho Environmental Group Limited ( (HK:0976) ).

Chiho Environmental Group has disclosed a significant change in its substantial shareholders following a court-approved reorganisation of Loncin Group Co., Ltd. and related companies in Chongqing. USUM Investment Group transferred its 100% stake in Chongqing Yujiuxin, which indirectly holds 15% of Chiho’s shares, to National Trust Company as trustee of the National Trust Phoenix No. 24 – Chiho Environmental Debt Settlement Trust Plan, with the plan’s beneficiaries being ordinary creditors of the Loncin reorganisation.

As a result of this restructuring-linked transfer, National Trust now holds a long position in 240,772,843 Chiho shares in a trustee capacity, while USUM Investment and its ultimate controller, Mr. Zhao Mingjun, have seen their indirect interest reduced from about 60.95% to 45.95% of the company’s issued share capital. The company’s shares remain suspended from trading on the Hong Kong Stock Exchange since April 1, 2025, pending satisfaction of resumption guidance, leaving stakeholders focused on governance stability and the outcome of the reorganisation-related trust arrangement.