SCHEDULE 13G: Major Shareholder Discloses Over 50% Stake in Pheton Holdings Ltd. Through Convertible Shares

ZJW (BVI) Ltd and its sole shareholder Jianfei Zhang have disclosed beneficial ownership of 53.8% of Pheton Holdings Ltd.'s Class A Ordinary Shares, primarily through convertible Class B shares.

Summary

• ZJW (BVI) Ltd and Jianfei Zhang have filed a Schedule 13G, disclosing beneficial ownership of Pheton Holdings Ltd.'s Class A Ordinary Shares.
• They beneficially own 7,668,000 Class A Ordinary Shares, which are issuable upon the conversion of 7,668,000 Class B Ordinary Shares held by ZJW (BVI) Ltd.
• The Class B shares are convertible into Class A shares on a one-to-one basis at the option of the holder.
• This ownership represents 53.8% of the Class A Ordinary Shares, calculated based on 6,582,000 Class A shares outstanding as of September 30, 2024, plus the 7,668,000 convertible shares.
• Jianfei Zhang, as the sole shareholder and director of ZJW (BVI) Ltd, is deemed to indirectly beneficially own these securities.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership, providing transparency without indicating specific positive or negative operational or financial developments.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders gain clarity on the significant beneficial ownership structure, with a single entity and individual holding a majority stake (53.8%) through convertible shares.

Key Dates

Keywords

Pheton Holdings Ltd., Class A Ordinary Shares, Schedule 13G, Beneficial Ownership, ZJW (BVI) Ltd, Jianfei Zhang, SEC Filing, Convertible Shares, Majority Stake