SCHEDULE: GLOBAL MOFY AI LIMITED Details Share Reclassification and Leadership Control

GLOBAL MOFY AI LIMITED has disclosed significant changes to its share structure, including a reclassification into Class A and Class B shares, a reverse share split, and the consolidation of voting power under CEO Haogang Yang through controlled entities.

Summary

• GLOBAL MOFY AI LIMITED reclassified its ordinary shares into Class A Ordinary Shares (1 vote per share) and Class B Ordinary Shares (20 votes per share) on August 15, 2024.
• The company repurchased 10,913,894 Class A Ordinary Shares from James Yang Mofy Limited and 1,809,142 Class A Ordinary Shares from New JOLENE&R L.P. on August 15, 2024.
• Concurrently, 10,913,894 Class B Ordinary Shares were issued to James Yang Mofy Limited and 1,809,142 Class B Ordinary Shares to New JOLENE&R L.P. on August 15, 2024.
• A one-for-fifteen (1-for-15) Reverse Share Split for both Class A and Class B Ordinary Shares was approved and effected on November 1, 2024.
• Post-reverse split, there are 2,083,031 Class A Ordinary Shares and 848,203 Class B Ordinary Shares issued and outstanding.
• The authorized share capital was increased to US$1,020,000, divided into 30,000,000,000 Class A Ordinary Shares (par value US$0.00003 each) and 4,000,000,000 Class B Ordinary Shares (par value US$0.00003 each).
• As a result of the reverse split, James Yang Mofy Limited holds 727,593 Class B Ordinary Shares and New JOLENE&R L.P. holds 120,610 Class B Ordinary Shares.
• CEO Haogang Yang received 2,049,602 Class B Ordinary Shares for services during the fiscal year ended September 30, 2024.
• On July 11, 2025, 2,049,602 Class B Ordinary Shares held by Haogang Yang were transferred to James Yang Mofy Limited, bringing its total Class B holdings to 2,777,195 shares.
• Haogang Yang, as of the filing date, does not directly hold any Class A or Class B Ordinary Shares but beneficially owns 2,777,195 Class B Ordinary Shares through James Yang Mofy Limited and 120,610 Class B Ordinary Shares through New JOLENE&R L.P., over which he has voting and dispositive power.

Sentiment

Score: 6

Explanation: The filing is primarily factual regarding changes in share structure and ownership control. The consolidation of voting power under management could be seen as positive for stability but negative for minority shareholder influence. The reverse split is a neutral corporate action in itself. Overall, it's a structural update rather than a performance report, leaning slightly positive due to clear management control.

Positives

• The reclassification and issuance of Class B shares with 20 votes per share consolidates voting control, potentially providing stability in strategic decision-making.
• The CEO, Haogang Yang, has a clear intent to actively participate in the Issuer's management, strategic direction, and corporate governance, which can be a positive for leadership continuity.

Negatives

• The dual-class share structure with Class B shares having significantly higher voting power (20 votes per share vs. 1 vote for Class A) concentrates control, potentially limiting the influence of Class A shareholders.
• The reverse share split reduces the number of outstanding shares, which can sometimes be perceived negatively by the market if not accompanied by strong operational improvements.

Risks

• The concentration of voting power in Class B shares, primarily controlled by Haogang Yang, could lead to decisions that may not align with the interests of all Class A shareholders.
• The company's principal executive offices are located in Beijing, People's Republic of China, which may expose it to specific geopolitical and regulatory risks associated with operating in that region.

Future Outlook

Haogang Yang, as an officer, director, and significant shareholder, intends to actively participate in the Issuer's management, strategic direction, and corporate governance. No other specific future plans or proposals are disclosed that would result in major corporate transactions like mergers, liquidations, or changes in the board or business operations.

Management Comments

• Haogang Yang intends to actively participate in the Issuer's management, strategic direction, and corporate governance.

Industry Context

This filing primarily details changes in the company's capital structure and ownership control, which are internal corporate actions. It does not provide information directly related to broader industry trends or competitive landscape, beyond establishing a dual-class share structure common in some technology or founder-led companies to maintain control.

Comparison to Industry Standards

• The adoption of a dual-class share structure, where Class B shares carry significantly more voting power (20 votes per share) than Class A shares (1 vote per share), is a common practice among certain technology and founder-led companies, such as Meta Platforms (formerly Facebook) and Alphabet (Google). This structure allows founders or key management to retain control over strategic decisions despite potentially holding a minority economic interest.
• The reverse share split (1-for-15) is a corporate action often undertaken by companies to increase their share price, meet listing requirements, or improve market perception. While not unique to any industry, its effectiveness depends on underlying business performance. For example, companies like General Electric and Citigroup have executed reverse splits in the past, with varying degrees of success depending on their subsequent operational improvements.
• The consolidation of voting power under CEO Haogang Yang through controlled entities (James Yang Mofy Limited and New JOLENE&R L.P.) is consistent with the intent of dual-class structures to centralize decision-making and protect long-term vision, similar to how Mark Zuckerberg maintains control at Meta or Larry Page and Sergey Brin at Alphabet.

Corporate Governance

Related Party Transactions

• On August 15, 2024, the company repurchased Class A Ordinary Shares from James Yang Mofy Limited and New JOLENE&R L.P. (entities controlled by CEO Haogang Yang) and concurrently issued Class B Ordinary Shares to them.
• For services during the fiscal year ended September 30, 2024, CEO Haogang Yang received 2,049,602 Class B Ordinary Shares as compensation.
• On July 11, 2025, 2,049,602 Class B Ordinary Shares held by Haogang Yang were transferred to James Yang Mofy Limited, an entity he controls.

Stakeholder Impact

• Shareholders: The dual-class share structure significantly concentrates voting power with Class B shareholders, potentially diluting the influence of Class A shareholders on corporate decisions. The reverse share split impacts the number of shares held by all shareholders.
• Management: CEO Haogang Yang's control over the company's strategic direction and corporate governance is solidified through his beneficial ownership of high-voting Class B shares via controlled entities.

Next Steps

• Haogang Yang intends to actively participate in the Issuer's management, strategic direction, and corporate governance.

Key Dates

Keywords

GLOBAL MOFY AI LIMITED, Schedule 13D, Share Reclassification, Class A Ordinary Shares, Class B Ordinary Shares, Reverse Share Split, Corporate Governance, Beneficial Ownership, Haogang Yang, James Yang Mofy Limited, New JOLENE&R L.P., SEC Filing, Voting Rights, Share Structure