Abstract: Point cloud data face serious semantic privacy risks during acquisition, transmission, and cross-institutional sharing. Existing methods mostly rely on geometric perturbation or destructive encryption, which can reduce the recognizability of the original class but often impair downstream usability. This paper proposes a class-transfer-based semantic encryption framework for point clouds, aiming to conceal original class information while preserving task utility and supporting authorized recovery. Specifically, we construct a unified latent space with a shared-backbone Normalizing Flow, and combine LoRA and FiLM to achieve parameter-efficient class-conditional adaptation. We further introduce diffusion-guided flow alignment to regularize the latent distribution, construct an energy-based category transition graph, and obtain an optimal class-transfer table through global matching. Then, a latent-space Neural ODE continuously evolves source-class latents into target-class latents, which are decoded into target-class point clouds through the inverse flow. We adopt attacker-oriented metrics, including New-Class Recognition Rate (NCRR), Original-Class Leakage Rate (OCLR), and Original Label Recovery Rate (OLRR), to evaluate privacy and utility. Experiments on classification and segmentation benchmarks show that the proposed method achieves controllable semantic transformation, effectively reduces original-class semantic leakage, preserves downstream learnability in the protected domain, and supports reliable authorized reconstruction.