SCHEDULE: Atlantis Investment Group Discloses 2.3% Passive Stake in Kuke Music Holding Ltd

Atlantis Investment Management Limited and its affiliated entities have filed an amended Schedule 13G, disclosing a collective beneficial ownership of 2.3% of Kuke Music Holding Ltd's Class A ordinary shares.

Summary

• Atlantis Investment Management Limited (AIM), Atlantis Capital Group Holdings Limited (ACG), and Yang Liu, along with three managed funds (Syzygy Stable Multi-Asset Strategy SP, Atlantis New Hong Kong Equity Fund Limited, and Riverwood Multi-Growth Fund), collectively beneficially own 6,300,000 Class A ordinary shares of Kuke Music Holding Ltd.
• This ownership represents 2.3% of the total outstanding Class A ordinary shares of Kuke Music Holding Ltd, based on 275,261,847 Class A ordinary shares outstanding as per the issuer's prospectus dated June 4, 2025.
• The filing is an Amendment No. 1 to a previous Schedule 13G, indicating an update to their reported beneficial ownership.
• The reporting persons, primarily based in Hong Kong and the Cayman Islands, hold American Depositary Shares (ADSs) of Kuke Music, with each ADS representing ten Class A ordinary shares.
• The beneficial ownership is held with shared voting and dispositive power among the reporting group, with no single entity holding sole voting or dispositive power.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document is a factual disclosure of beneficial ownership, without explicit positive or negative commentary on the issuer's performance or prospects.

Positives

• The disclosure of a significant institutional stake by Atlantis Investment Management Limited and its affiliates may signal confidence in Kuke Music Holding Ltd's long-term prospects.
• The investment is stated to be for passive purposes, not for changing or influencing control, which can be viewed positively by existing management and other shareholders.

Risks

• The reporting persons explicitly state that the securities were not acquired and are not held for the purpose or with the effect of changing or influencing the control of Kuke Music Holding Ltd, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 240.14a-11.

Future Outlook

The document does not provide any forward-looking statements or guidance from Kuke Music Holding Ltd or the reporting persons regarding the issuer's future performance.

Industry Context

This filing reflects a standard disclosure of a passive investment stake by an asset management group in a publicly traded company, common within the financial industry for transparency regarding significant holdings.

Stakeholder Impact

• Shareholders of Kuke Music Holding Ltd gain transparency regarding a significant institutional investor's stake, which can influence market perception and trading activity.
• The disclosure confirms the passive nature of the investment, potentially reassuring other investors that the stake is not intended for activist purposes.

Next Steps

• The reporting persons will be required to file further amendments to this Schedule 13G if there are material changes to their beneficial ownership or investment intent.

Key Dates

Keywords

Kuke Music Holding Ltd, Schedule 13G, Beneficial Ownership, Atlantis Investment Management, Institutional Investment, SEC Filing, Class A Ordinary Shares, American Depositary Shares, Passive Investment