SCHEDULE: CDH Group Discloses Significant Stake in Microvast Holdings

A group of CDH entities has filed an amended Schedule 13G, detailing their collective beneficial ownership of 11.3% in Microvast Holdings, Inc.

Summary

• CDH Griffin Holdings Company Limited and CDH Investment Management Company Limited each beneficially own 37,073,227 shares of Microvast Holdings, Inc. common stock, representing 11.3% of the class.
• Evergreen Ever Limited, Piccadilly, L.P., and CDH China HF Holdings Company Limited each beneficially own 28,597,614 shares, representing 8.7% of the class.
• Aurora Sheen Limited, Shanghai Dinghui Pingxun Investment Partnership (LLP), and CDH Shanghai Baifu Wealth Management Company Limited each beneficially own 5,220,347 shares, representing 1.6% of the class.
• Hangzhou CDH New Trend Equity Investment Partnership (Limited Partnership) and Dinghui Equity Investment Management (Tianjin) Company Limited each beneficially own 3,255,266 shares, representing 1.0% of the class.
• The percentages are based on 328,182,834 shares of common stock outstanding, as disclosed in Microvast Holdings, Inc.'s quarterly report on Form 10-Q filed on November 10, 2025.
• The filing is an Amendment No. 1 to Schedule 13G, indicating a change or update to a previously reported beneficial ownership position by the CDH group.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as a neutral to slightly positive disclosure, confirming significant institutional ownership by the CDH group, which can be interpreted as a long-term commitment to Microvast Holdings.

Positives

• The disclosure of a significant institutional stake by the CDH group can be viewed as a continued vote of confidence in Microvast Holdings, Inc.'s long-term prospects.
• The detailed breakdown of ownership within the CDH group provides transparency regarding the control structure of this substantial investment.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding Microvast Holdings, Inc.'s future performance or strategic direction.

Industry Context

StockSavvy.ai notes that significant institutional ownership, particularly from a private equity group like CDH, can signal a long-term strategic interest in the underlying company. For Microvast Holdings, operating in the critical battery technology sector, such a substantial stake underscores the perceived value and growth potential within the electric vehicle and energy storage markets.

Comparison to Industry Standards

• Large institutional ownership stakes, such as the 11.3% held by the CDH group, are common across publicly traded companies, especially those in high-growth or capital-intensive sectors like advanced battery manufacturing.
• While this filing does not provide operational metrics for direct comparison, the presence of a major investment group like CDH suggests a belief in Microvast's competitive positioning within the global battery industry, which includes players like CATL, LG Energy Solution, and Panasonic.

Corporate Governance

Related Party Transactions

• Hangzhou CDH New Trend Equity Investment Partnership (Limited Partnership) beneficially owned 3,255,266 shares of Common Stock of the Issuer which were issued in the name of (and held on behalf of Hangzhou CDH New Trend Equity Investment Partnership (Limited Partnership) by) MVST SPV Inc., a wholly owned subsidiary of the Issuer, pursuant to a framework agreement dated February 1, 2021.

Stakeholder Impact

• Shareholders gain increased transparency regarding the significant institutional ownership structure of Microvast Holdings, Inc., which can influence market perception and stability.
• The disclosure clarifies the beneficial owners and their respective percentages, providing a clearer picture of the company's ownership landscape.

Key Dates

Recommendation

This Schedule 13G/A filing primarily provides transparency regarding the beneficial ownership structure of the CDH group in Microvast Holdings, Inc. It confirms a significant institutional stake, which can be a positive signal of long-term interest. However, it does not contain new operational or financial performance data that would fundamentally alter the investment thesis. Therefore, a 'hold' recommendation is appropriate, maintaining current positions while awaiting further company-specific developments.

Keywords

Microvast Holdings, MVST, CDH, Beneficial Ownership, Schedule 13G, Institutional Investor, Battery Technology, Electric Vehicles