SCHEDULE: Yunqi Group Boosts Stake in STAAR SURGICAL

Yunqi Path Capital Master Fund and affiliated entities have increased their beneficial ownership in STAAR SURGICAL CO, now holding up to 6.5% of common stock.

Summary

• This is Amendment No. 6 to the Schedule 13D filing by Yunqi Capital Limited and other Reporting Persons regarding their beneficial ownership in STAAR SURGICAL CO.
• The Reporting Persons collectively include Yunqi Path Capital Master Fund, Yunqi Capital Limited, Yunqi Capital Cayman Limited, Christopher Min Fang Wang, Yunqi China Special Investment A, HS Group Master Fund II Ltd, HS Group (Hong Kong) Limited, and HS Group Ltd.
• Yunqi Capital Limited, Yunqi Capital Cayman Limited, and Christopher Min Fang Wang collectively beneficially own 3,257,130 shares, representing 6.5% of the Issuer's common stock. These shares were acquired for $86,312,432.90.
• Yunqi Path Capital Master Fund beneficially owns 2,575,061 shares, representing 5.2% of the Issuer's common stock. These shares were acquired for $71,609,426.87.
• Yunqi China Special Investment A, HS Group Master Fund II Ltd, HS Group (Hong Kong) Limited, and HS Group Ltd collectively beneficially own 682,069 shares, representing 1.4% of the Issuer's common stock. These shares were acquired for $14,703,006.00.
• The total beneficial ownership by the Reporting Persons amounts to 6,514,260 shares, with an aggregate investment of $172,624,865.77.
• The percentages are calculated based on 49,751,953 shares outstanding as of October 31, 2025.
• All funds used for the purchases came from the working capital of the respective funds, with no borrowed funds used other than for ordinary course working capital.
• Recent transactions include Yunqi Path Capital Master Fund purchasing 75,000 shares at $21.5283 on January 6, 2026, and Yunqi China Special Investment A purchasing 7,069 shares at $23.0000 on December 31, 2025, and 675,000 shares at $21.5283 on January 6, 2026.
• A Joint Filing Agreement was entered into on January 8, 2026, by all Reporting Persons to jointly file Schedule 13D statements.

Sentiment

Score: 7

Explanation: The filing indicates an increased stake by a group of investors, suggesting a positive view on the company's prospects. The purchases were made using working capital, implying a stable funding source for the investment. While not a direct endorsement of company performance, increased institutional ownership is generally seen as a positive signal.

Positives

• The Reporting Persons have increased their stake in STAAR SURGICAL CO, indicating continued confidence in the company.
• The purchases were funded through working capital, suggesting financial stability of the investment group.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the issuer's future performance or the Reporting Persons' future investment intentions beyond the current beneficial ownership.

Industry Context

This filing reflects an ongoing investment by a group of funds and individuals in the medical device sector, specifically in a company known for ophthalmic surgical products. The increase in stake by the Yunqi group suggests a continued belief in the long-term value or strategic position of STAAR SURGICAL CO within the industry, potentially driven by growth in elective surgical procedures or specific product adoption.

Corporate Governance

Stakeholder Impact

• Shareholders: Increased institutional ownership by the Yunqi group could be perceived positively, potentially signaling confidence in the company's future and stability in the stock.

Next Steps

• The Reporting Persons will continue to file Schedule 13D amendments as required by law if there are further material changes to their beneficial ownership or investment intent.

Key Dates

Recommendation

The filing indicates a group of investors, including Yunqi Path Capital Master Fund and affiliated entities, have increased their beneficial ownership in STAAR SURGICAL CO to up to 6.5%. This suggests continued confidence in the company's prospects by these institutional investors. However, without additional information on the company's operational performance, financial health, or strategic initiatives, a 'hold' recommendation is prudent. The increased stake is a positive signal, but it doesn't inherently warrant a 'buy' without further fundamental analysis of STAAR SURGICAL CO itself. The purchases were made at prices around $21.50-$23.00, which provides a reference point for recent investor activity.

Keywords

STAAR SURGICAL CO, Schedule 13D/A, Beneficial Ownership, Yunqi Capital, HS Group, Christopher Min Fang Wang, Investment, Common Stock, SEC Filing, Institutional Investor