Cloopen Group Holding Ltd Chief Executive Officer Sun Changxun filed a Form 4 on October 29, 2026, reporting the disposal of 2,000,000 Class A ordinary shares and 25,649,839 Class B ordinary shares on October 28, 2026, in connection with a completed going-private merger.

Key Highlights

  • Reporting person: Sun Changxun, Chief Executive Officer of Cloopen Group Holding Ltd (RAASY)
  • Class A shares disposed: 2,000,000 Class A ordinary shares (par value US$0.0001 each), resulting in 0 indirect beneficial ownership
  • Class B shares disposed: 25,649,839 Class B ordinary shares (par value US$0.0001 each), resulting in 0 indirect beneficial ownership
  • Transaction date: October 28, 2026, under transaction code D (disposed)
  • Merger Agreement: Dated May 12, 2026, among the Issuer, SpringX Holdings Limited, AutumnX Holdings Limited, and SummerX Holdings Limited
  • Outcome: According to the filing, upon completion of the Merger, "the Issuer became a privately-held company"
  • Exchange of shares: Each disposed share was cancelled in exchange for one ordinary share newly issued by HoldCo, per the filing

Cloopen CEO Sun Changxun Reports Full Share Disposal Following Going-Private Merger

According to the Form 4 filed on October 29, 2026, Sun Changxun, Chief Executive Officer of Cloopen Group Holding Ltd (RAASY), disposed of all indirectly held shares in the issuer on October 28, 2026. The filing reports two separate disposals: 2,000,000 Class A ordinary shares and 25,649,839 Class B ordinary shares, both under transaction code D. Following both transactions, the filing reports zero indirect beneficial ownership in each class.

The filing states that the disposals occurred pursuant to the Agreement and Plan of Merger, dated May 12, 2026, among the Issuer, SpringX Holdings Limited ("Parent"), AutumnX Holdings Limited ("Holdco"), a wholly-owned subsidiary of Parent, and SummerX Holdings Limited ("Merger Sub"), a wholly-owned subsidiary of Holdco. According to the filing, "Merger Sub was merged with and into the Issuer (the 'Merger'), with the Issuer being the surviving company of the Merger as a wholly-owned subsidiary of Holdco." The filing further states that upon completion of the Merger, "the Issuer became a privately-held company."

The Class A ordinary shares reported were held by Flawless Success Limited, which the filing describes as acting "as a nominee for an employee trust holding shares for the benefit of grantees under the Issuer's share incentive plans," with Sun Changxun identified as the beneficial owner. The Class B ordinary shares were held by Cloopen Co., Ltd, described in the filing as "a company wholly-owned by Mr. Sun Changxun." In connection with the Merger, Flawless Success Limited entered into a support agreement, also dated May 12, 2026, pursuant to which each disposed share was cancelled in exchange for one ordinary share newly issued by HoldCo at the effective time of the Merger.

What Was Disclosed

Sun Changxun, CEO of Cloopen Group Holding Ltd, reported the disposal of 2,000,000 Class A and 25,649,839 Class B ordinary shares on October 28, 2026, pursuant to a going-private merger agreement dated May 12, 2026, leaving zero indirect beneficial ownership in both classes.