# EDGAR Filing Document

**Accession Number:** 0002083073
**File Stem:** 0001140361-25-033695
**Filing Date:** 2025-9
**Character Count:** 15871
**Document Hash:** 53187f0d595bb187686f33c8900153f0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-033695.hdr.sgml**: 20250903

**ACCESSION NUMBER**: 0001140361-25-033695

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250903

**DATE AS OF CHANGE**: 20250903

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Waton Financial Ltd
- **CENTRAL INDEX KEY:** 0001987363
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES [6200]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 000000000
- **STATE OF INCORPORATION:** D8
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95216
- **FILM NUMBER:** 251287653

**BUSINESS ADDRESS:**
- **STREET 1:** 3605-06, 36/F, TOWER 6 THE GATEWAY
- **STREET 2:** HARBOUR CITY, TSIM SHA TSUI, KOWLOON
- **CITY:** HONG KONG
- **STATE:** K3
- **ZIP:** NONE
- **BUSINESS PHONE:** 852 28531818

**MAIL ADDRESS:**
- **STREET 1:** 3605-06, 36/F, TOWER 6 THE GATEWAY
- **STREET 2:** HARBOUR CITY, TSIM SHA TSUI, KOWLOON
- **CITY:** HONG KONG
- **STATE:** K3
- **ZIP:** NONE
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ZHOU KAI
- **CENTRAL INDEX KEY:** 0002083073

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** RM3605-06, 36F, TOWER 6, THE GATEWAY
- **STREET 2:** HARBOUR CITY, TSIM SHA TSUI, KOWLOON
- **CITY:** HONG KONG
- **NON US STATE TERRITORY:** HONG KONG
- **PROVINCE COUNTRY:** K3
- **ZIP:** 00000

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** Waton Financial Ltd

**Title of Class of Securities:** Ordinary shares, no par value per share

**CUSIP Number:** G9548D104

**Date of Event Which Requires Filing of this Statement:** 03/31/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [ ] Rule 13d-1(c)

- [x] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>ZHOU KAI | Names of Reporting Persons<br>ZHOU KAI |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>F4 | Citizenship or Place of Organization<br>F4 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>40980000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>40980000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>40980000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>40980000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>85% | Percent of Class Represented by Amount in Row (9)<br>85% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** (1) These ordinary shares are held by WATON CORPORATION LIMITED ("Waton Corporation"), of which approximately 47.70% are held by TRIUMPH TEAM ASSETS LIMITED ("Triumph Team Assets") and approximately 9.40% are held by WATON ESOP HOLDINGS LTD ("Waton ESOP Holdings"). Each of Triumph Team Assets and Waton ESOP Holdings is 100% owned by WTF Holding Group Limited ("WTF Holding", previously named "TZed Holding Group Limted"). The Company's Chairman of the Board of Directors, and Chief Technology Officer, Mr. Zhou Kai, is the sole director of Waton Corporation and 100% owner of each of Triumph Team Assets, Waton ESOP Holdings and WTF Holding. Mr. Zhou Kai holds the voting powers (and dispositive powers) over the ordinary shares held by Waton Corporation. 

(2) Percentage of class is calculated based on 48,237,472 shares of ordinary shares outstanding as of July 24, 2025, according to the Company's annual report on Form 20-F for the 2025 fiscal year filed with the U.S. Securities and Exchange Commission on July 24, 2025.

---

| 1. | Names of Reporting Persons<br>WATON CORPORATION LIMITED | Names of Reporting Persons<br>WATON CORPORATION LIMITED |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>40980000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>40980000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>40980000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>40980000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>85% | Percent of Class Represented by Amount in Row (9)<br>85% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

---

| 1. | Names of Reporting Persons<br>TRIUMPH TEAM ASSETS LIMITED | Names of Reporting Persons<br>TRIUMPH TEAM ASSETS LIMITED |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>D8 | Citizenship or Place of Organization<br>D8 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>40980000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>40980000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>40980000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>40980000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>85% | Percent of Class Represented by Amount in Row (9)<br>85% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

---

| 1. | Names of Reporting Persons<br>WATON ESOP HOLDINGS LTD | Names of Reporting Persons<br>WATON ESOP HOLDINGS LTD |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>D8 | Citizenship or Place of Organization<br>D8 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>40980000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>40980000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>40980000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>40980000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>85% | Percent of Class Represented by Amount in Row (9)<br>85% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

---

| 1. | Names of Reporting Persons<br>WTF Holding Group Limited | Names of Reporting Persons<br>WTF Holding Group Limited |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>D8 | Citizenship or Place of Organization<br>D8 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>40980000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>40980000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>40980000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>40980000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>85% | Percent of Class Represented by Amount in Row (9)<br>85% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

---

**Item 1(a). Name of Issuer:**
Waton Financial Ltd

**Item 1(b). Address of Issuer's Principal Executive Offices:**
Suites 3605-06, 36th Floor, Tower 6, The Gateway, Harbour City, Tsim Sha Tsui, Kowloon, Hong Kong, 00000

**Item 2(a). Name of Person Filing:**
Kai ZHOU

WATON CORPORATION LIMITED

TRIUMPH TEAM ASSETS LIMITED

WATON ESOP HOLDINGS LTD

WTF Holding Group Limited

**Item 2(b). Address of Principal Business Office:**
Kai ZHOU's address or principal business office: Suites 3605-06, 36th Floor, Tower 6, The Gateway, Harbour City, Tsim Sha Tsui, Kowloon, Hong Kong

WATON CORPORATION LIMITED's address or principal business office: Harneys Fiduciary (Cayman) Limited, 4th Floor, Harbour Place, 103 South Church Street, P.O. Box 10240, Grand Cayman KY1-1002, Cayman Islands

TRIUMPH TEAM ASSETS LIMITED's address or principal business office: Harneys Corporate Services Limited, Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands

WATON ESOP HOLDINGS LTD's address or principal business office: Harneys Corporate Services Limited, Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands

WTF Holding Group Limited's address or principal business office: Start Chambers, Wickhams Cayt II, P.O. Box 2221, Road Town, Tortola, British Virgin Islands

**Item 2(c). Citizenship:**
Kai ZHOU's citizenship: China

WATON CORPORATION LIMITED's place of organization: Cayman Islands

TRIUMPH TEAM ASSETS LIMITED's place of organization: British Virgin Islands

WATON ESOP HOLDINGS LTD's place of organization: British Virgin Islands

WTF Holding Group Limited's place of organization: British Virgin Islands

**Item 2(d). Title of Class of Securities:**
Ordinary shares, no par value per share

**Item 2(e). CUSIP Number:**
G9548D104

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

40,980,000

**(b) Percent of class:**

85.0

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

0

**(ii) Shared power to vote or to direct the vote:**

40,980,000

**(iii) Sole power to dispose or to direct the disposition of:**

0

**(iv) Shared power to dispose or to direct the disposition of:**

40,980,000

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

—

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**ZHOU KAI**

**Date:** 09/02/2025

**By:** /s/ Kai ZHOU

**Name & Title:** Kai ZHOU

**WATON CORPORATION LIMITED**

**Date:** 09/02/2025

**By:** /s/ Kai ZHOU

**Name & Title:** Kai ZHOU, director

**TRIUMPH TEAM ASSETS LIMITED**

**Date:** 09/02/2025

**By:** /s/ Kai ZHOU

**Name & Title:** Kai ZHOU, director

**WATON ESOP HOLDINGS LTD**

**Date:** 09/02/2025

**By:** /s/ Kai ZHOU

**Name & Title:** Kai ZHOU, director

**WTF Holding Group Limited**

**Date:** 09/02/2025

**By:** /s/ Kai ZHOU

**Name & Title:** Kai ZHOU, director