Zhenwei Qingfeng Amends NaaS Tech Stake

TL;DR

Zhenwei Qingfeng just updated their stake in NaaS Tech. Big move?

AI Summary

On March 19, 2024, Beijing Zhenwei Qingfeng Economic Management Consulting Partnership (L.P.) filed an amendment to its Schedule 13D regarding NaaS Technology Inc. The filing indicates a change in beneficial ownership, with the partnership now holding a significant stake in the company. This amendment updates previous filings concerning their investment in NaaS Technology Inc.

Why It Matters

This filing signals a potential shift in control or influence for NaaS Technology Inc., as a significant investment partnership has updated its beneficial ownership details.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate shifts in investor strategy or potential activist involvement, which may impact stock price and company direction.

Key Players & Entities

• Beijing Zhenwei Qingfeng Economic Management Consulting Partnership (L.P.) (company) — Filing party
• NaaS Technology Inc. (company) — Subject company
• RISE Education Cayman Ltd (company) — Former company name

FAQ

Key Financial Figures

• $0.01 — g 10 Class A ordinary shares, par value $0.01 each Class A ordinary shares (Title

Filing Documents

• ea0202115-13da1beijing_naas.htm (SC 13D/A) — 56KB
• 0001213900-24-024041.txt ( ) — 58KB

Identity And Background

Item 2. Identity And Background

of the Schedule 13D is hereby amended and

Item 2 of the Schedule 13D is hereby amended and restated in its entirety as follows: (a): This Schedule 13D is being filed jointly by Beijing Zhenwei and Zhenwei Management (these two persons together, the “ Reporting Persons ”, and each, a “ Reporting Person ”) pursuant to Rule 13d-1(k) promulgated by the SEC under Section 13 of the Act. The agreement between the Reporting Persons relating to the joint filing of this Schedule 13D is attached hereto as Exhibit A . Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person assumes responsibility for the accuracy or completeness of the information concerning the other Reporting Person except as otherwise provided in Rule 13d-1(k). (b), (c), and (f): Beijing Zhenwei is a limited liability partnership organized under the laws of the People’s Republic of China. Its principal place of business is located at 8/F, 60 Xizhimen North Avenue, Haidian District, Beijing, China. Zhenwei Management is the general partner of Beijing Zhenwei, and has its registered address at 8/F, 60 Xizhimen North Avenue, Haidian District, Beijing, China. Information regarding each director and executive officer of Zhenwei Management is set forth on Schedule A-1 attached hereto. (d) and (e): During the last five years, neither of the Reporting Persons has been: (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer

(a)-(c) of the Schedule 13D are each hereby amended and restated

Item 5(a)-(c) of the Schedule 13D are each hereby amended and restated in their entirety as follows: (a) and (b): The responses of the Reporting Person to Rows (7) through (13) of the cover pages of this Schedule 13D are hereby incorporated by reference in this Item 5. The percentage of the class of securities is calculated by dividing the number of shares beneficially owned by the reporting person by a total of 2,575,757,753 issued and outstanding ordinary shares, consisting of (i) 968,209,981 Class A Ordinary Shares, (ii) 242,662,399 Class B Ordinary Shares, and (iii) 1,364,885,373 Class C Ordinary Shares of the Issuer upon the closing of a registered direct offering by the Issuer on March 15, 2024, as reported in the RDO Reports. Holders of Class A Ordinary Shares, Class B Ordinary Shares and Class C Ordinary Shares vote together as one class. Holders of Class A Ordinary Shares are entitled to one vote per share. Holders of Class B Ordinary Shares and Class C Ordinary Shares are entitled to ten votes per share and two votes per share, respectively. Each Class B Ordinary Share and each Class C Ordinary Share is convertible into one Class A Ordinary Share at any time by the holder thereof, subject to certain conditions. Class A Ordinary Shares are not convertible into Class B Ordinary Shares or Class C Ordinary Shares under any circumstances. (c): None of the Reporting Persons has effected any transaction in the Class A Ordinary Shares and the ADSs representing such Class A Ordinary Shares during the past sixty days. (d): Except as disclosed in this Schedule 13D, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the ordinary shares beneficially owned by the Reporting Persons. (e): Not applicable. 4 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Beijing Z

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View this SC 13D/A filing on SEC EDGAR