SCHEDULE: SOLAI Ltd: Law Man San Vincent Amends Schedule 13D

LAW Man San Vincent, Delite Limited, and Good Luck Capital Limited have jointly filed an amendment to their Schedule 13D, reporting changes in beneficial ownership of SOLAI Ltd securities.

Summary

• This filing is an amendment (Amendment No. 4) to a Schedule 13D, jointly filed by LAW Man San Vincent, Delite Limited, and Good Luck Capital Limited, concerning their beneficial ownership of SOLAI Ltd (formerly BIT Mining Limited) securities.
• The amendment details recent open market purchases of SOLAI Ltd's American Depositary Shares (ADSs) by Mr. Law on July 16, 2026, totaling 54,275 ADSs for $194,007.37, at an average price of $3.5745 per ADS.
• These purchases increased Mr. Law's beneficial ownership of ADSs to 132,242.
• The filing also clarifies the beneficial ownership structure, including shares held by Delite Limited and Good Luck Capital Limited, both wholly owned by Mr. Law.
• It notes that Ms. Ping Yuan, wife of Mr. Law, also beneficially owns shares through Smart Mega Holdings Limited.
• The total beneficial ownership reported by the joint filers, on an as-converted basis, represents 9.3% of the Class A Ordinary Shares and 93.9% of the total outstanding voting power as of March 31, 2026.
• A Joint Filing Agreement dated July 20, 2026, is included as an exhibit.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, primarily an administrative update on beneficial ownership and recent share purchases, without significant new strategic information or financial performance indicators.

Positives

• Mr. Law increased his beneficial ownership of SOLAI Ltd ADSs through open market purchases.
• The filing provides a clear breakdown of beneficial ownership across different entities and individuals, enhancing transparency.
• The company's ADS ratio was updated, with 1 ADS now representing 700 Class A Ordinary Shares, effective July 6, 2026.

Negatives

• The filing does not contain any negative financial results or operational issues.
• No specific negative forward-looking statements are present.

Risks

• The concentration of voting power among a few individuals could pose governance risks.
• Changes in ADS ratios can impact the perceived value and trading of the securities.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the details of the recent transactions and ownership structure.

Management Comments

• Mr. Law may be deemed to beneficially own all of the Ordinary Shares held by Delite and Good Luck.
• Ms. Yuan may be deemed to beneficially own all of the Ordinary Shares held by Smart Mega.
• Each Reporting Person expressly disclaims beneficial ownership for all purposes of the Ordinary Shares held by each other Reporting Person, except as otherwise stated.

Industry Context

StockSavvy.ai notes that Schedule 13D filings are crucial for understanding significant ownership changes and potential shifts in control or influence within a company. This amendment by LAW Man San Vincent, a founder and chairman, highlights ongoing personal investment and potential strategic positioning within SOLAI Ltd.

Corporate Governance

Legal Proceedings

• During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
• During the last five years, none of the Reporting Persons has been a party to a civil proceeding that resulted in judgments or orders related to federal or state securities laws.

Related Party Transactions

• Mr. Law is the sole shareholder and director of Delite Limited and Good Luck Capital Limited.
• Ms. Ping Yuan, wife of Mr. Law, is the sole shareholder and director of Smart Mega Holdings Limited.
• The Reporting Persons may be deemed to constitute a 'group' under Section 13(d)(3) of the Securities Exchange Act.

Stakeholder Impact

• Shareholders: Increased transparency regarding significant beneficial ownership and potential influence.
• Management: Clarification of ownership structure and reporting obligations.
• Regulators: Compliance with SEC filing requirements.

Next Steps

• The Reporting Persons will continue to monitor the Issuer's business and may, from time to time, acquire or dispose of additional securities of the Issuer.
• Further information regarding the number of ADSs purchased at each separate price within the range will be provided upon request by the Commission staff.

Key Dates

Keywords

SOLAI Ltd, Schedule 13D, LAW Man San Vincent, BIT Mining Limited, Beneficial Ownership, ADSs, Joint Filing Agreement, Securities Exchange Act