Ruicheng (China) Media Group Limited (HK:1640) has released an update.
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Ruicheng (China) Media Group Limited has announced a significant shift in ownership as Ms. Wang Lei sold 25% of the company’s total issued share capital to Mr. Sang Kangqiao, an independent third party. Following the sale, Ms. Wang is no longer the single largest shareholder or a substantial shareholder, while Mr. Sang has assumed both roles. The company’s board believes this change will not negatively affect its operations, but advises shareholders and investors to trade cautiously.
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