SCHEDULE 13G/A: HongShan Capital Affiliates Disclose 7.4% Stake in Pony AI

An amendment to Schedule 13G reveals that Neil Nanpeng Shen and affiliated entities beneficially own 7.4% of Pony AI Inc.'s Class A Ordinary Shares.

Summary

• HSG Venture VI Holdco, Ltd. beneficially owns 19,024,198 shares, representing 6.3% of Pony AI Inc.'s Class A Ordinary Shares.
• HSG Venture VII Holdco, Ltd. beneficially owns 3,590,885 shares, representing 1.2% of Pony AI Inc.'s Class A Ordinary Shares.
• Collectively, HSG Holding Limited, SNP China Enterprises Limited, and Neil Nanpeng Shen beneficially own 22,615,083 shares, which constitutes 7.4% of the Class A Ordinary Shares outstanding.
• The aggregate beneficial ownership of 22,615,083 shares is comprised of 21,538,178 Class A Ordinary Shares and 1,076,905 American Depositary Shares.
• The percentage of class is based on a total of 304,203,783 Class A Ordinary Shares outstanding as of June 30, 2025, as reported in Pony AI Inc.'s Form 6-K filed on October 20, 2025.
• Neil Nanpeng Shen is the ultimate beneficial owner through a chain of entities: he wholly owns SNP China Enterprises, which wholly owns HSG Holding Limited, which is the General Partner for HSG Venture VI Management and HSG Venture VII Management, which are General Partners for HongShan Capital Venture Fund VI and VII, respectively, which are sole shareholders of HSG Venture VI Holdco and HSG Venture VII Holdco.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would inherently be positive or negative for the company's operational or financial performance. It is a neutral, compliance-driven report.

Future Outlook

NA

Industry Context

This filing is a standard disclosure of beneficial ownership by a significant investor group in Pony AI Inc., a company operating in the autonomous driving technology sector. Such disclosures provide transparency regarding major shareholder positions, which is common for venture-backed companies that eventually go public or are preparing for public markets.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant ownership stake held by a venture capital group and its ultimate beneficial owner, Neil Nanpeng Shen.

Key Dates

Keywords

Pony AI Inc., Class A Ordinary Shares, Schedule 13G, Beneficial Ownership, HongShan Capital, Neil Nanpeng Shen, Autonomous Driving, Venture Capital