Liu Jia Amends Puyi Inc. Stake to 17.67M Shares, Sole Voting Power

TL;DR

**Liu Jia now has sole voting power over 17.67 million shares of PUYI, a big deal for company control.**

AI Summary

Liu Jia, a citizen of St. Kitts and Nevis, filed an amended Schedule 13G/A on February 5, 2024, reporting beneficial ownership of 17,670,666 Ordinary Shares of Puyi Inc. (NASDAQ: PUYI) as of December 29, 2023. This represents a significant stake, giving Liu Jia sole voting power over these shares. This matters to investors because a large individual shareholder with sole voting power can influence company decisions, potentially impacting the stock's future direction and corporate governance.

Why It Matters

A substantial individual ownership stake with sole voting power means this person can significantly influence company strategy and major decisions, which could affect the stock's performance.

Risk Assessment

Risk Level: medium — Concentrated ownership by a single individual can lead to decisions that may not always align with all minority shareholders' interests.

Analyst Insight

Investors should monitor future filings from Liu Jia and Puyi Inc. for any indications of changes in corporate strategy or governance, as this large stake holder could drive significant changes.

Key Numbers

• 17,670,666 — Shares Beneficially Owned (Represents the total number of Puyi Inc. Ordinary Shares Liu Jia has sole voting power over as of December 29, 2023.)
• $0.001 — Par Value per Share (The stated par value of Puyi Inc.'s Ordinary Shares.)
• December 29, 2023 — Date of Event (The date that triggered the requirement for this Schedule 13G/A amendment filing.)
• February 5, 2024 — Filing Date (The date this amended Schedule 13G/A was filed with the SEC.)

Key Players & Entities

• Liu Jia (person) — reporting person and beneficial owner of Puyi Inc. shares
• Puyi Inc. (company) — the subject company whose securities are being reported
• St. Kitts and Nevis (company) — citizenship of Liu Jia
• 02 Finance (company) — organization name associated with Puyi Inc.
• DANICA SURGE LTD (company) — group member listed in the filing

Forward-Looking Statements

• Liu Jia will likely exert significant influence over Puyi Inc.'s strategic decisions due to their substantial sole voting power. (Puyi Inc.) — high confidence, target: Next 12-24 months
• The concentrated ownership could lead to less liquidity for Puyi Inc.'s stock if Liu Jia holds their shares long-term. (Puyi Inc.) — medium confidence, target: Next 6-12 months

FAQ

Key Financial Figures

• $0.001 — of Issuer) Ordinary Shares, par value $0.001 per share (Title of Class of Securiti

Filing Documents

• ea192795-13ga1jia_puyi.htm (SC 13G/A) — 58KB
• ea192795ex99-1_puyi.htm (EX-99.1) — 5KB
• 0001213900-24-009815.txt ( ) — 64KB

(a)

Item 1(a). Name of Issuer: Puyi Inc. (the “Issuer”)

(b)

Item 1(b). Address of Issuer’s Principal Executive Offices: 61F, Pearl River Tower No. 15 Zhujiang West Road, Zhujiang New Town, Tianhe, Guangzhou, Guangdong Province, 510620, People’s Republic of China

(a)

Item 2(a). Name of Person Filing: This Statement is filed on behalf of the following persons (collectively, the “Reporting Persons”): i) LIU Jia; ii) Danica Surge Limited.

(b)

Item 2(b). Address of Principal Business Office or, if None, Residence: The principal business office of Ms. LIU Jia is 61F, Pearl River Tower No. 15 Zhujiang West Road, Zhujiang New Town, Tianhe, Guangzhou, Guangdong Province, 510620, People’s Republic of China The principal business address of Danica Surge Limited is Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands.

(c)

Item 2(c). Citizenship or Place of Organization: Ms. LIU Jia is a citizen of Saint Christopher (St. Kitts) and Nevis. Danica Surge Limited is a British Virgin Islands company.

(d)

Item 2(d). Title of Class of Securities: Ordinary shares, par value $0.001 per share

(e)

Item 2(e). CUSIP Number: 69373Y109 Item 3. This Item 3 is not applicable. 4 Item 4. Number of shares as to which such person has: Reporting Person Amount Beneficially Owned Percent of Class (2) Sole Power to Vote or Direct the Vote Shared Power to Vote or to Direct the Vote Sole Power to Dispose or to Direct the Disposition of Shared Power to Dispose or to Direct the Disposition of LIU Jia 17,670,666 (1) 4.8 % 17,670,666 (1) 0 0 (1) 0 Danica Surge Limited 17,670,666 (1) 4.8 % 0 (1) 0 17,670,666 (1) 0 (1) Represents 17,670,666 ordinary shares held by Danica Surge Limited. Danica Surge Limited is a limited liability company incorporated in the British Virgin Islands and is wholly owned by LIU Jia. The disposal of ordinary shares held by Danica Surge Limited is decided by 82 individuals, who entrusted their voting power of such ordinary shares to LIU Jia except for the matters related to share disposal. (2) For each Reporting Person, the percentage of aggregate voting power is calculated by dividing the voting power beneficially owned by such Reporting Person by the voting power of all of 370,551,728 ordinary shares as of December 29, 2023. Item 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following . Item 6. This Item 6 is not applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person: This Item 7 is not applicable. Item 8. Identification and Classification of Members of the Group: This Item 8 is not applicable. Item 9. Notice

View Full Filing

View this SC 13G/A filing on SEC EDGAR