Information from the Hong Kong Stock Exchange reveals a significant transaction on June 30. Atlantis New Hong Kong Equity Fund Limited increased its holding in RUIFENG RENEW (HKG: 00527) by approximately 545.827 million shares. The purchase price was HK$0.196 per share, resulting in a total consideration of roughly HK$107 million.

Following this acquisition, the fund's total shareholding has risen to about 944 million shares. This represents 51.49% of the company's issued share capital. The transaction involved other related parties, including Atlantis Capital Group Holdings Limited and Liu Yang.

Background on the Transaction

This share purchase is part of a broader subscription agreement. Atlantis New Hong Kong Equity Fund Limited entered into this agreement with China Ruifeng Renewable Energy Holdings Limited on June 21, 2024. The agreement granted the fund the conditional right to subscribe for 944,444,444 shares in the company.

In accordance with the terms of this agreement, the fund subscribed for 398,617,346 conversion shares on June 10, 2026. A further subscription occurred on June 30, 2026, for an additional 426,389,239 conversion shares and 119,437,859 ordinary shares.