SCHEDULE: Zhibao Tech: Beijing Koala Fund Discloses 22.2% Stake

Beijing Koala Kunlu Internet Industry Investment Fund and its director Wenkai Tian have reported a 22.2% beneficial ownership in Zhibao Technology Inc.'s Class A ordinary shares.

Summary

• Beijing Koala Kunlu Internet Industry Investment Fund (Limited Partnership) and its director, Wenkai Tian, have jointly filed a Schedule 13G, disclosing beneficial ownership in Zhibao Technology Inc.
• The reporting persons beneficially own 3,661,140 Class A ordinary shares of Zhibao Technology Inc., representing 22.2% of the class.
• This percentage is calculated based on 16,452,020 Class A ordinary shares issued and outstanding as of November 11, 2025, and excludes 16,816,692 Class B ordinary shares.
• Both Beijing Koala Kunlu Internet Industry Investment Fund and Wenkai Tian hold sole voting and dispositive power over these 3,661,140 shares.
• Wenkai Tian, as the director of Beijing Koala Kunlu Internet Industry Investment Fund, disclaims beneficial ownership of the reported shares except to the extent of any pecuniary interest he may have.

Sentiment

Score: 6

Explanation: The disclosure of a significant institutional stake by Beijing Koala Kunlu Internet Industry Investment Fund and its director Wenkai Tian in Zhibao Technology Inc. is generally viewed as a positive signal of investor confidence, although the filing itself is purely informational and does not contain performance metrics.

Positives

• The disclosure of a substantial 22.2% stake by Beijing Koala Kunlu Internet Industry Investment Fund and its director Wenkai Tian may signal increased institutional confidence in Zhibao Technology Inc.

Risks

• Concentrated ownership by a single investment fund and its director, representing 22.2% of Class A ordinary shares, could lead to significant influence over corporate decisions and potentially impact minority shareholder interests.

Future Outlook

NA

Industry Context

This filing represents a standard disclosure of significant beneficial ownership by an institutional investor, a common occurrence in publicly traded companies, indicating a substantial investment in Zhibao Technology Inc. Such disclosures provide transparency regarding major shareholders and potential influences on corporate governance.

Stakeholder Impact

• Shareholders may perceive increased confidence in Zhibao Technology Inc. due to a significant institutional investment, potentially influencing market sentiment.
• The substantial stake held by Beijing Koala Kunlu Internet Industry Investment Fund could lead to increased influence over strategic decisions and corporate direction.

Key Dates

Keywords

Zhibao Technology Inc., Beijing Koala Kunlu Internet Industry Investment Fund, Wenkai Tian, Schedule 13G, Beneficial Ownership, Class A Ordinary Shares, Institutional Investment, Equity Stake