SCHEDULE: Hillhouse Investment Discloses 1.4% Stake in Webull Corp

Hillhouse Investment Management, Ltd. has disclosed a 1.4% beneficial ownership stake in Webull Corp's Class A Ordinary Shares as of December 31, 2025.

Summary

• Hillhouse Investment Management, Ltd. (HIM), an exempted Cayman Islands company, has filed an Amendment No. 1 to Schedule 13G regarding its beneficial ownership in Webull Corp.
• HIM beneficially owns 5,974,604 Class A Ordinary Shares of Webull Corp.
• This ownership represents 1.4% of Webull Corp's Class A Ordinary Shares outstanding.
• The percentage is calculated based on 417,957,827 shares outstanding as of September 30, 2025, as reported in Webull Corp's Prospectus filed on November 20, 2025.
• HIM holds sole voting power and sole dispositive power over all 5,974,604 shares.
• The shares are held by WBL Holding L.P. and WBL2 Holdings Limited, both wholly owned by Hillhouse Focused Fund Growth V, L.P., for which HIM acts as the sole management company.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive signal. While a routine disclosure, the continued presence of a respected institutional investor like Hillhouse in Webull Corp's shareholder base can be interpreted as a vote of confidence in the company's long-term prospects.

Positives

• A significant institutional investor, Hillhouse Investment Management, maintains a stake in Webull Corp, indicating continued investor interest.

Negatives

• The filing is a routine disclosure of ownership and does not contain specific negative operational or financial news for Webull Corp.

Risks

• The filing itself does not detail specific risks related to Webull Corp's operations or financial health, as it is a beneficial ownership report.

Future Outlook

The filing is a disclosure of current beneficial ownership and does not contain any forward-looking statements or guidance regarding Webull Corp's future performance or Hillhouse Investment Management's future investment intentions.

Management Comments

• Audrey Woon, Chief Compliance Officer of Hillhouse Investment Management, Ltd., certified that the information set forth in the statement is true, complete, and correct to the best of her knowledge and belief.

Industry Context

StockSavvy.ai notes that Hillhouse Investment Management is a prominent global investment firm known for its long-term value investing approach, particularly in technology and consumer sectors. Their continued stake in Webull Corp, a financial technology company, suggests ongoing confidence in the digital brokerage and wealth management space, aligning with broader industry trends towards increased digitalization of financial services.

Comparison to Industry Standards

• A 1.4% stake is a relatively small but notable position for an institutional investor like Hillhouse, especially in a company with a large share count like Webull Corp. While not a controlling stake, it signifies a strategic investment. For comparison, major institutional investors often hold stakes ranging from 0.5% to over 5% in publicly traded companies, depending on their investment strategy and the company's market capitalization. This level of ownership is typical for a non-activist, passive investment by a large fund.

Stakeholder Impact

• Shareholders: The disclosure confirms a significant institutional investor's continued stake, potentially reinforcing confidence in the company's stock.
• Employees/Customers/Suppliers/Creditors: The filing does not directly impact these stakeholders, as it pertains solely to beneficial ownership.

Next Steps

• Hillhouse Investment Management, Ltd. will continue to monitor its investment in Webull Corp and file further amendments to Schedule 13G as required by SEC regulations if its beneficial ownership percentage changes significantly.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of an existing institutional ownership stake and does not present new information that would fundamentally alter the investment thesis for Webull Corp. While the continued presence of Hillhouse is a positive indicator, it does not warrant a 'buy' or 'sell' recommendation based solely on this filing. Investors should 'hold' and consider this information as part of a broader analysis of Webull Corp's financial performance and strategic developments.

Keywords

Webull Corp, Hillhouse Investment Management, Beneficial Ownership, Class A Ordinary Shares, Investment Adviser, SEC Filing, Schedule 13G, Institutional Investor