SCHEDULE: Major Shareholder's Stake in LakeShore Biopharma Diluted by Recent Private Placement

Fung Ching Wong and Apex Prospect Limited's beneficial ownership in LakeShore Biopharma Co., Ltd. decreased to 23.9% due to the company's recent private placement, not from any share sales.

Summary

• Fung Ching Wong and Apex Prospect Limited (the "Reporting Persons") filed an Amendment No. 1 to their Schedule 13D regarding LakeShore Biopharma Co., Ltd. (formerly YS Biopharma Co., Ltd.).
• The amendment reports a material decrease in the Reporting Persons' percentage of beneficial ownership.
• This decrease is solely due to an increase in the total number of the Issuer's issued Ordinary Shares following a private placement transaction announced by LakeShore Biopharma on July 8, 2025.
• The Reporting Persons have not sold or otherwise disposed of any of their beneficially owned Ordinary Shares.
• As of July 11, 2025, the Reporting Persons beneficially own 9,836,010 Ordinary Shares.
• This represents approximately 23.9% of LakeShore Biopharma's issued and outstanding Ordinary Shares.
• The 9,836,010 shares reflect a 10-for-1 share consolidation effective October 1, 2024, which converted 98,360,094 previously held shares.
• The percentage is based on 41,212,693 Ordinary Shares issued and outstanding as of July 11, 2025, a figure provided by the Issuer.

Sentiment

Score: 5

Explanation: Neutral. The filing is a factual disclosure of a change in beneficial ownership percentage due to company-level dilution from a private placement, not due to the reporting persons selling shares. While dilution is generally negative for existing shareholders, the reporting persons' continued holding of shares is a neutral to slightly positive signal.

Positives

• Reporting Persons (Fung Ching Wong and Apex Prospect Limited) have not sold any shares, indicating continued confidence in the company despite dilution.

Negatives

• The Reporting Persons' percentage of beneficial ownership decreased from an unspecified previous percentage to 23.9% due to share dilution from a private placement.

Risks

• Dilution of existing shareholder stakes due to new share issuances (e.g., private placements).

Future Outlook

The document does not provide explicit forward-looking statements or guidance from the company or the reporting persons beyond the factual reporting of the ownership change.

Management Comments

• This Amendment No. 1 is being filed to report a material decrease in the Reporting Persons' percentage of beneficial ownership of the Issuer's Ordinary Shares.
• This decrease resulted solely from an increase in the total number of the Issuer's issued Ordinary Shares following a private placement transaction announced by the Issuer on July 8, 2025.
• The Reporting Persons have not sold or otherwise disposed of any of the Ordinary Shares they beneficially own.

Industry Context

This filing reflects a common occurrence in the biopharma industry where companies raise capital through private placements, which can lead to dilution for existing shareholders. The change in beneficial ownership percentage is a direct consequence of the company's financing activities.

Comparison to Industry Standards

• The document does not provide specific comparable companies, projects, or results to assess against global benchmarks. It is a regulatory filing focused on ownership disclosure.

Stakeholder Impact

• Shareholders: Existing shareholders, including the Reporting Persons, experienced dilution of their ownership percentage due to the private placement.

Key Dates

Recommendation

Keywords

LakeShore Biopharma, YS Biopharma, Schedule 13D, Beneficial Ownership, Share Dilution, Private Placement, Fung Ching Wong, Apex Prospect Limited, Biopharma, SEC Filing, Share Consolidation