SCHEDULE: FiEE Inc. Major Shareholders Update Ownership Percentages

Major shareholders of FiEE Inc. have updated their beneficial ownership percentages in an Amendment No. 5 filing, reflecting an increase in the issuer's total outstanding common stock.

Summary

• Cao Yu, Hu Bin, Youxin Consulting Limited, and Li Wai Chung (collectively, the Reporting Persons) have filed Amendment No. 5 to their Schedule 13D.
• This amendment is solely due to an increase in FiEE, Inc.'s total number of outstanding shares of Common Stock, not as a result of any transactions by the Reporting Persons.
• As of January 7, 2026, FiEE, Inc. had 7,934,122 shares of Common Stock outstanding.
• Cao Yu beneficially owns 4,615,012 shares, representing 42.1% of the class, with sole voting power over all these shares and sole dispositive power over 3,568,371 shares.
• Hu Bin beneficially owns 3,125,745 shares, representing 30.6% of the class, with sole voting power over all these shares and sole dispositive power over 2,480,224 shares.
• Youxin Consulting Ltd. beneficially owns 649,254 shares, representing 7.6% of the class, with sole voting and dispositive power over all these shares.
• Li Wai Chung beneficially owns 649,254 shares, representing 7.6% of the class, with sole voting and dispositive power over all these shares.
• Beneficial ownership includes shares of Common Stock, shares issuable upon conversion of Series A Convertible Preferred Stock, and shares issuable upon exercise of warrants.
• The Series A Convertible Preferred Stock is subject to a 'Preferred Blocker' which limits conversion to no more than 19.99% of the Common Stock outstanding immediately prior to the original issuance date, affecting dispositive power calculations for Cao Yu and Hu Bin.

Sentiment

Score: 5

Explanation: The filing is a neutral, routine update of beneficial ownership percentages due to an increase in the issuer's total outstanding shares, not reflecting any specific positive or negative operational or financial news.

Positives

• The filing indicates stability in the beneficial ownership structure, as the change in reported percentages is due to an increase in the issuer's total outstanding shares rather than sales or purchases by the reporting persons.

Risks

• The existence of Series A Convertible Preferred Stock and warrants held by the reporting persons represents potential future dilution for existing common stockholders upon their conversion or exercise.
• The 'Preferred Blocker' limits the immediate conversion of Series A Convertible Preferred Stock, which could impact the liquidity or control dynamics if the blocker were to be removed or modified in the future.

Future Outlook

No forward-looking statements or guidance are provided in this filing, as it pertains solely to beneficial ownership updates.

Industry Context

This filing is a routine regulatory disclosure of significant beneficial ownership and does not provide information to assess broader industry trends or competitive positioning for FiEE, Inc.

Stakeholder Impact

• Shareholders: The updated ownership percentages provide clarity on the control structure and potential dilution from convertible securities and warrants held by significant shareholders.

Key Dates

Keywords

FiEE Inc., Schedule 13D, beneficial ownership, common stock, convertible preferred stock, warrants, shareholder disclosure, ownership percentages