SCHEDULE: Webull Corp: Bojiang Entities Disclose 7.3% Stake

Multiple Chinese investment entities and an individual, including Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd., and Tian Luo, have disclosed a combined beneficial ownership of 7.3% in Webull Corp's Class A Ordinary Shares.

Summary

• An amendment to Schedule 13G has been filed by six reporting persons: Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership), Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), Anji Boye Investment Partnership (Limited Partnership), Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd., and Tian Luo.
• The filing pertains to Class A Ordinary Shares of Webull Corp, with a par value of US$0.00001 per share and CUSIP G9572D103.
• Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd., and Tian Luo each beneficially own 29,151,428 Class A Ordinary Shares, representing 7.3% of the class.
• This ownership is indirect, stemming from shares held by three limited partnerships: Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (11,011,948 shares or 2.7%), Anji Boye Investment Partnership (11,011,948 shares or 2.7%), and Changxing Boyi Equity Investment Fund Management Centre (7,127,532 shares or 1.8%).
• Shanghai Bojiang Investment Management Co., Ltd. serves as the General Partner for these three limited partnerships (collectively, Bojiang Capital entities).
• Bojiang Group Co., Ltd. wholly owns Shanghai Bojiang Investment Management Co., Ltd.
• Tian Luo controls Bojiang Group Co., Ltd. through a 49.76% equity interest.
• The beneficial ownership calculation is based on 401,758,855 Class A ordinary shares issued and outstanding as of July 22, 2025, as reported by Webull Corp on its Form 424B3 Registration Statement filed on July 23, 2025.
• The reporting persons explicitly disclaim status as a group for the purposes of this Schedule 13G/A.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the company's performance or prospects.

Future Outlook

NA

Industry Context

This filing is a standard disclosure of beneficial ownership by institutional investors and related entities in a publicly traded company. It does not provide broader industry trends or competitive analysis.

Related Party Transactions

• Shanghai Bojiang Investment Management Co., Ltd. serves as the General Partner for Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), Anji Boye Investment Partnership (Limited Partnership), and Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership).
• Bojiang Group Co., Ltd. wholly owns Shanghai Bojiang Investment Management Co., Ltd.
• Tian Luo controls Bojiang Group Co., Ltd. by beneficially owning 49.76% equity interest therein.
• Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd., and Tian Luo possess power to direct the voting and disposition of shares owned by the Bojiang Capital entities and are deemed to have indirect beneficial ownership of these shares.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant beneficial ownership stakes, which can influence market perception and control dynamics.
• Regulatory Authorities: Fulfills SEC disclosure requirements for significant ownership positions.

Key Dates

Keywords

Webull Corp, Beneficial Ownership, SEC Filing, Schedule 13G, Class A Ordinary Shares, Investment Partnership, Institutional Investor, China