STOCK TITAN

Major holder reports 60.89% voting stake in Republic Power Group (RPGL)

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D

Rhea-AI Filing Summary

Republic Power Group Ltd shareholder True Sage International Limited and its controller, Hao Feng Ng, filed a Schedule 13D reporting majority control of the company’s voting power. Through True Sage, Ng beneficially holds 60.89% of the total voting power of Republic Power as of January 28, 2026.

The filing details that on December 12, 2024, True Sage bought 10,449,167 ordinary shares from the former chairman for USD450,000, then sold 128,200 shares on January 11, 2025 for HKD 2,000,000. On March 27, 2025, the issuer issued 100,000 Class B shares to True Sage for cash at par.

Positive

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Insights

Control concentrated as Hao Feng Ng reports 60.89% voting power via True Sage.

Republic Power Group Ltd now has its voting control clearly concentrated in True Sage International Limited, an entity fully controlled by chairman Hao Feng Ng. The Schedule 13D states that, through True Sage, Ng beneficially holds 60.89% of the issuer’s total voting power as of January 28, 2026.

The disclosure also outlines low-cash consideration for significant ownership: True Sage acquired 10,449,167 ordinary shares for USD450,000, later resold 128,200 shares for HKD 2,000,000, and received 100,000 Class B shares for cash at par. Class B shares carry greater voting rights than Class A shares, increasing the leverage of a relatively small number of shares.

For investors assessing governance, this filing highlights a controlled company structure where strategic and operational decisions can be strongly influenced by a single chairman-controlled entity. Future company actions will likely reflect the priorities and decisions of this controlling holder, as described in the communication and influence rights referenced in the document.






If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).






SCHEDULE 13D




Comment for Type of Reporting Person:
Numbers in Rows (8), (10) & (11) represent the voting power of 10,113,267 class A ordinary shares, par value of US$0.000625 per share (the "Class A Ordinary Shares") and 100,000 class B ordinary shares, par value of US$0.000625 per share (the "Class B Ordinary Shares"), directly held by True Sage, which is an entity controlled by Hao Feng Ng, the chairman of the board of directors of Republic Power Group Ltd ("Republic Power" or the "Issuer"). The Class B Ordinary Shares are convertible to Class A Ordinary Shares at any time on a one for one basis. Each Class A Ordinary Share is entitled to one (1) vote and each Class B Ordinary Share is entitled to thirty (30) votes. The beneficial ownership percentage in Row (13) is calculated based on 17,250,000 Class A Ordinary Shares and 100,000 Class B Ordinary Shares of the Issuer issued and outstanding as of January 28, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
Numbers in Rows (8), (10) & (11) represent the voting power of 10,113,267 class A ordinary shares, par value of US$0.000625 per share (the "Class A Ordinary Shares") and 100,000 class B ordinary shares, par value of US$0.000625 per share (the "Class B Ordinary Shares"), directly held by True Sage, which is an entity controlled by Hao Feng Ng, the chairman of the board of directors of Republic Power Group Ltd ("Republic Power" or the "Issuer"). The Class B Ordinary Shares are convertible to Class A Ordinary Shares at any time on a one for one basis. Each Class A Ordinary Share is entitled to one (1) vote and each Class B Ordinary Share is entitled to thirty (30) votes. The beneficial ownership percentage in Row (13) is calculated based on 17,250,000 Class A Ordinary Shares and 100,000 Class B Ordinary Shares of the Issuer issued and outstanding as of January 28, 2026.


SCHEDULE 13D


True Sage International Limited ("True Sage")
Signature:/s/ Hao Feng Ng
Name/Title:Hao Feng Ng /Sole Director
Date:02/04/2026
Hao Feng Ng
Signature:/s/ Hao Feng Ng
Name/Title:Hao Feng Ng
Date:02/04/2026

FAQ

What ownership stake does True Sage report in Republic Power Group (RPGL)?

True Sage International Limited, controlled by Hao Feng Ng, reports beneficial ownership of 60.89% of Republic Power Group’s total voting power as of January 28, 2026. This gives the reporting persons majority control over shareholder decisions requiring a vote.

Who are the reporting persons in the Republic Power Group (RPGL) Schedule 13D?

The reporting persons are True Sage International Limited and Hao Feng Ng, who is the sole director and shareholder of True Sage. Ng also serves as chairman of the board of Republic Power Group Ltd and can influence the issuer’s operations, governance, and control.

What major share transactions involving True Sage are described for Republic Power Group (RPGL)?

On December 12, 2024, True Sage bought 10,449,167 ordinary shares from former chairman Sai Bin Loi for USD450,000. On January 11, 2025, True Sage sold 128,200 ordinary shares to Hon Kei Yeung for HKD 2,000,000, and later received 100,000 Class B shares for cash at par.

How many Republic Power Group (RPGL) shares are outstanding according to the Schedule 13D?

The filing states there were 17,250,000 Class A Ordinary Shares and 100,000 Class B Ordinary Shares of Republic Power Group Ltd issued and outstanding as of January 28, 2026. These figures are used to calculate the reporting persons’ 60.89% beneficial voting ownership.

What rights does Hao Feng Ng have over Republic Power Group (RPGL) through True Sage?

Through True Sage, Hao Feng Ng shares voting and dispositive power over the Class A and Class B shares it holds. As chairman, he may communicate with the board, management, and other shareholders and influence corporate activities, including matters described under Item 4 of Schedule 13D instructions.

What is the role of Class B Ordinary Shares in Republic Power Group (RPGL)’s control structure?

The filing explains that Class B Ordinary Shares have greater voting power per share than Class A Ordinary Shares. True Sage holds 100,000 Class B shares, which, together with Class A shares, contribute to the reported 60.89% of total voting power controlled indirectly by Hao Feng Ng.