SCHEDULE: Julong Holding: Hu Secures 93.2% Voting Control
Beneficial Ownership Disclosure
Jiaqi Hu and affiliated entities disclose beneficial ownership of 93.2% of Julong Holding Limited's Class A ordinary shares, consolidating voting power.
Summary
- Jiaqi Hu, along with Hushi Holding Limited, Qiren Holding Limited, and Datongyi Holding Limited, collectively report beneficial ownership of 20,000,000 Class A ordinary shares of Julong Holding Limited.
- This aggregate ownership represents 93.2% of the Issuer's total issued and outstanding Class A ordinary shares, calculated based on 21,448,632 shares as of July 2, 2025.
- The 20,000,000 shares comprise 10,000,000 Class A ordinary shares and 10,000,000 Class B ordinary shares held by Datongyi Holding Limited.
- Mr. Jiaqi Hu holds 96.0% equity interest in Datongyi Holding Limited indirectly through Hushi Holding Limited and Qiren Holding Limited.
- Mr. Mingjian Shi holds the remaining 4.0% equity interest in Datongyi Holding Limited indirectly through Shishi Holding Limited and Yueshan Holding Limited.
- Mr. Jiaqi Hu is entitled to the voting power of all 20,000,000 shares due to an acting-in-concert agreement with Mr. Mingjian Shi, effective May 30, 2025, which mandates Mr. Shi to vote his shares according to Mr. Hu's instructions.
Sentiment
Score: 5
Explanation: The filing is a factual disclosure of beneficial ownership and control, without any explicit positive or negative financial or operational news.
Risks
- Concentrated ownership and voting control by a single individual (Jiaqi Hu) and his affiliated entities, which could limit the influence of other shareholders.
- Potential for decisions to be made that primarily benefit the controlling shareholder rather than all shareholders, given the acting-in-concert agreement granting Mr. Hu sole voting power over a significant majority of shares.
Future Outlook
NA
Industry Context
This filing is a standard disclosure of beneficial ownership, providing transparency on the control structure of Julong Holding Limited following its initial public offering. It does not provide broader industry trends or competitive analysis.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Control Agreement | An acting-in-concert agreement between Mr. Jiaqi Hu and Mr. Mingjian Shi grants Mr. Hu sole voting power over all shares held by Mr. Shi and his holding vehicles in Julong Holding Limited. | 2025-05-30 | This agreement consolidates significant voting control (93.2%) under Mr. Jiaqi Hu, potentially impacting corporate governance by centralizing decision-making power and reducing the influence of other shareholders. |
Related Party Transactions
- An acting-in-concert agreement between Mr. Jiaqi Hu and Mr. Mingjian Shi, who are both indirect equity holders in Datongyi Holding Limited, effectively grants Mr. Hu control over Mr. Shi's voting rights related to Julong Holding Limited shares.
Stakeholder Impact
- Shareholders: The high concentration of voting power under Mr. Jiaqi Hu means that minority shareholders will have very limited influence over company decisions.
- Management: The consolidated control by Mr. Hu may lead to a more streamlined decision-making process, but also potentially less independent oversight.
Key Dates
| Date | Description |
|---|---|
| 2025-05-30 | Effective date of the acting-in-concert agreement between Mr. Jiaqi Hu and Mr. Mingjian Shi. |
| 2025-06-09 | Date of event which requires filing of this statement (Schedule 13G). |
| 2025-06-28 | Date of the Issuer's final prospectus on Form F-1 (424B4 Prospectus) filed with the SEC in connection with its initial public offering. |
| 2025-07-02 | Date as of which the Issuer's total issued and outstanding Class A ordinary shares (21,448,632) were reported, including the underwriter's full exercise of over-allotment option, as per Form 6-K. |
| 2025-08-05 | Date of signing for the Schedule 13G filing by all reporting persons. |
Keywords
Julong Holding Limited, Jiaqi Hu, Beneficial Ownership, Schedule 13G, Class A ordinary shares, Voting Control, Acting-in-concert agreement, SEC filing, Corporate Governance, Shareholder structure
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