Change in control at Oyocar Group (OYCG) with planned Shanghai Zhongru acquisition
Rhea-AI Filing Summary
Oyocar Group Inc. reported that on July 22, 2026 it entered into a Letter of Intent to acquire Shanghai Zhongru Smart Energy Group. The proposed transaction envisions issuing a combination of Oyocar common and preferred stock, with a definitive agreement expected by approximately August 31, 2026, after required administrative actions under Chinese law and with closing to occur shortly thereafter. Shanghai Zhongru operates in China's power and energy sector, using water as its primary energy storage medium and providing energy storage, grid integration, peak shaving, and hydro-energy storage equipment.
Effective July 20, 2026, control of Oyocar shifted when Hoo Boon Lee acquired 11,985,000 shares of common stock from two existing shareholders for $565,000 in cash. These Control Shares represent 78.14% of Oyocar's outstanding common stock, based on 15,337,250 shares outstanding as of the referenced date, giving Ms. Lee voting control. In connection with the transaction, prior officers and directors resigned and Ms. Lee was appointed sole director, President, Chief Executive Officer, Treasurer and Secretary. A beneficial ownership table shows that officers and directors as a group, consisting solely of Ms. Lee, hold 11,985,000 shares, or 78.14%, of Oyocar's common stock.
Positive
- None.
Negative
- None.
8-K Event Classification
4 items: 1.01, 5.01, 5.02, 9.01
4 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 5.01
Changes in Control of Registrant
Governance
A change in control of the company occurred, such as through a merger, takeover, or management buyout.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Control Shares: 11,985,000 shares
Ownership percentage: 78.14%
Total shares outstanding: 15,337,250 shares
+3 more
6 metrics
Control Shares
11,985,000 shares
Shares of Oyocar common stock acquired by Hoo Boon Lee on July 20, 2026
Ownership percentage
78.14%
Portion of Oyocar common stock represented by the Control Shares
Total shares outstanding
15,337,250 shares
Oyocar common shares outstanding as of the referenced date
Purchase price for Control Shares
$565,000
Cash consideration paid by Hoo Boon Lee for 11,985,000 shares
LOI date
July 22, 2026
Date Oyocar entered into a Letter of Intent to acquire Shanghai Zhongru
Expected definitive agreement date
August 31, 2026
Approximate target to complete definitive agreement for the Shanghai Zhongru acquisition
Key Terms
Letter of Intent, change in control, Beneficial Owner, emerging growth company
4 terms
Letter of Intent regulatory
"entered into a Letter of Intent to acquire Shanghai Zhongru"
A letter of intent is a document that shows an agreement in principle between parties to work towards a future deal or transaction. It outlines their intentions and key terms, acting like a roadmap before a formal contract is signed. For investors, it signals serious interest and helps clarify expectations early in the process.
change in control regulatory
"Effective July 20, 2026, there occurred a change in control"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
Beneficial Owner financial
"The following table sets forth, as of the date, the Name of Beneficial Owner"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
emerging growth company regulatory
"Emerging growth company under Rule 405 or Rule 12b-2 of the Exchange Act"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What change in control did OYCG report, and who is the new majority owner?
Effective July 20, 2026, Hoo Boon Lee acquired 11,985,000 Oyocar common shares from two shareholders for $565,000 in cash. These Control Shares equal 78.14% of the outstanding stock, giving her voting control and making her the company’s new majority owner.
What acquisition is Oyocar Group Inc. (OYCG) planning with Shanghai Zhongru?
On July 22, 2026, Oyocar entered into a Letter of Intent to acquire Shanghai Zhongru Smart Energy Group. The proposed deal would use a combination of Oyocar common and preferred stock, with a definitive agreement expected by approximately August 31, 2026, after required Chinese administrative steps.
What executive and board changes did Oyocar (OYCG) disclose?
On July 20, 2026, Jonathan Rafael Perez Peralta resigned as sole director, President and Treasurer, and Julissa de Jesus resigned as Secretary. On the same date, Hoo Boon Lee was appointed sole director, President, Chief Executive Officer, Treasurer and Secretary of Oyocar.
What percentage of Oyocar (OYCG) is owned by officers and directors after the change?
Officers and directors as a group, consisting solely of Hoo Boon Lee, beneficially own 11,985,000 shares of Oyocar common stock. This holding represents 78.14% of the company’s outstanding common stock, based on 15,337,250 shares outstanding.
What business does Shanghai Zhongru Smart Energy Group operate in?
Shanghai Zhongru, based at the Shanghai International R&D Headquarters Base, operates in the power and energy sector. It focuses on electricity-to-heat conversion using water as its primary energy storage medium and provides energy storage, grid integration, peak shaving, and hydro-energy storage equipment and services.