According to the Zhitong Finance APP, Ruicheng China (01640) announced that the company received a notice from Yingheng Limited (Yingheng, owned entirely by Wang Lei). On October 3, 2024, Yingheng has sold a total of 0.14 billion shares of the company (accounting for 25.0% of the total issued share capital of the company as of the date of this announcement) to independent third party Sang Kangqiao, which is not related to the company and its related parties (as defined in the Listing Rules).

Following the sale, Wang Lei, through Yingheng, still holds 21.7047 million shares (approximately 3.88% of the total issued share capital of the company as of the date of this announcement), but is no longer the company's major shareholder or the single largest shareholder; while Sang Kangqiao holds 0.14 billion shares (25.0% of the total issued share capital of the company as of the date of this announcement), and has become the main shareholder and single largest shareholder of the company.

The announcement stated that the change in the single largest shareholder of the company will not have any significant adverse impact on the daily operation of the group.