# EDGAR Filing Document

**Accession Number:** 0001964338
**File Stem:** 0001213900-23-008238
**Filing Date:** 2023-2
**Character Count:** 7522
**Document Hash:** f0bd66dad70a1dbcb0d93934c04e6e7f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-008238.hdr.sgml**: 20230206

**ACCESSION NUMBER**: 0001213900-23-008238

**CONFORMED SUBMISSION TYPE**: SC 13G

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230206

**DATE AS OF CHANGE**: 20230206

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** 17 Education & Technology Group Inc.
- **CENTRAL INDEX KEY:** 0001821468
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-EDUCATIONAL SERVICES [8200]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-92027
- **FILM NUMBER:** 23588328

**BUSINESS ADDRESS:**
- **STREET 1:** 16/F, BLOCK B, WANGJING GREENLAND CENTER
- **STREET 2:** CHAOYANG DISTRICT
- **CITY:** BEIJING
- **STATE:** F4
- **ZIP:** 100102
- **BUSINESS PHONE:** 86 10 59451082

**MAIL ADDRESS:**
- **STREET 1:** 16/F, BLOCK B, WANGJING GREENLAND CENTER
- **STREET 2:** CHAOYANG DISTRICT
- **CITY:** BEIJING
- **STATE:** F4
- **ZIP:** 100102
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CL Lion Investment III Ltd
- **CENTRAL INDEX KEY:** 0001964338
- **IRS NUMBER:** 000000000

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

**BUSINESS ADDRESS:**
- **STREET 1:** MAPLES CORPORATE SERVICES (BVI) LIMITED
- **STREET 2:** KINGSTON CHAMBERS, ROAD TOWN
- **CITY:** TORTOLA
- **STATE:** D8
- **ZIP:** PO BOX 173
- **BUSINESS PHONE:** 852-3798-8628

**MAIL ADDRESS:**
- **STREET 1:** SUITE 3201, 32/F., ONE PACIFIC PLACE
- **STREET 2:** 88 QUEENSWAY, ADMIRALTY
- **CITY:** HONG KONG
- **STATE:** K3
- **ZIP:** 999077

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> WASHINGTON, D.C. 20549**

**SCHEDULE 13G<br> Under the Securities Exchange Act of 1934**

**(Amendment No.)\***

**17 Education & Technology Group Inc.<br> (Name of Issuer)**

**Class A Ordinary Shares, par value US$0.0001 per share<br> (Title of Class of Securities)**

**81807M106\*\***

(CUSIP Number)

**December 31, 2022**

(Date of Event Which Requires Filing of this Statement)

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

☐ Rule 13 d-1 (b)

☐ Rule 13d-1(c)

☒ Rule 13d-1(d)

\* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

\*\* CUSIP number of the Issuer's American depositary shares ("ADSs"). Each one ADS represents ten Class A ordinary shares of the Issuer.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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| | | |
|:---|:---|:---|
| **CUSIP No. 81807M106** | **SCHEDULE 13G** | Page 2 of 5 |

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| | | |
|:---|:---|:---|
| 1 | NAME OF REPORTING PERSON<br>CL Lion Investment III Limited |  |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP<br>| (a) ☐<br> (b) ☐ |
| 3 | SEC USE ONLY<br>|  |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION<br>British Virgin Islands |  |

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| | | |
|:---|:---|:---|
| NUMBER OF<br> SHARES<br> BENEFICIALLY<br> OWNED BY EACH<br> REPORTING<br> PERSON WITH | 5 | SOLE VOTING POWER<br>45,798,690\* |
| NUMBER OF<br> SHARES<br> BENEFICIALLY<br> OWNED BY EACH<br> REPORTING<br> PERSON WITH | 6 | SHARED VOTING POWER<br>0 |
| NUMBER OF<br> SHARES<br> BENEFICIALLY<br> OWNED BY EACH<br> REPORTING<br> PERSON WITH | 7 | SOLE DISPOSITIVE POWER<br>45,798,690\* |
| NUMBER OF<br> SHARES<br> BENEFICIALLY<br> OWNED BY EACH<br> REPORTING<br> PERSON WITH | 8 | SHARED DISPOSITIVE POWER<br>0 |

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| | | |
|:---|:---|:---|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br>45,798,690\* |  |
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES<br>| ☐ |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)<br>10.1% of Class A ordinary shares or 9.0% of total ordinary shares (representing 2.1% of the aggregate voting power)\*\* |  |
| 12 | TYPE OF REPORTING PERSON<br>OO |  |

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\* Represents 45,798,690 Class A ordinary shares held by CL Lion Investment III Limited in the form of ADSs. <br>

\*\* The beneficial ownership percentage is calculated based on 510,591,007 ordinary shares of the Issuer as a single class, being the sum of (i) 452,137,839 Class A ordinary shares, and (ii) 58,453,168 Class B ordinary shares issued and outstanding as of March 31, 2022, assuming conversion of all Class B ordinary shares into Class A ordinary shares, as reported in the Issuer's annual report on Form 20-F filed with the Securities and Exchange Commission (the "Commission") on April 27, 2022. Each Class A ordinary share is entitled to one vote, and each Class B ordinary share is entitled to thirty votes, voting together as one class.

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| | | |
|:---|:---|:---|
| **CUSIP No. 81807M106** | **SCHEDULE 13G** | Page 3 of 5 |

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**ITEM 1**

(a) Name
of Issuer

17 Education & Technology Group Inc. (the "Issuer")

(b) Address
of Issuer's Principal Executive Offices

16/F, Block B, Wangjing Greenland Center<br> Chaoyang District, Beijing 100102<br> People's Republic of China

**ITEM 2**

(a) Names
of Person Filing

CL Lion Investment III Limited (the "Reporting Person")

(b) Address
of Principal Business Office or, if none, Residence

Maples Corporate Services (BVI) Limited, Kingston Chambers, PO Box 173, Road Town, Tortola, British Virgin Islands

(c) Citizenship

British Virgin Islands

(d) Title
of Class of Securities

Class A ordinary shares, par value US$0.0001 per share

(e) CUSIP
Number

81807M106. This CUSIP number applies to the American depositary shares. One American depositary share represents ten Class A ordinary shares of the Issuer.

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| | | |
|:---|:---|:---|
| **CUSIP No. 81807M106** | **SCHEDULE 13G** | Page 4 of 5 |

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**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:**

Not applicable.

**ITEM 4 Ownership**

Ownership information as of December 31, 2022 of the Reporting Person is incorporated by reference through items (5) through (9) and (11) of the cover page.

**ITEM 5 Ownership of Five Percent or Less of a Class**

Not applicable.

**ITEM 6 Ownership of More than Five Percent on Behalf of Another Person**

Not applicable.

**ITEM 7 Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person**

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 Certifications**

Not applicable.

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|:---|:---|:---|
| **CUSIP No. 81807M106** | **SCHEDULE 13G** | Page 5 of 5 |

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**<u>SIGNATURE</u>**

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.

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| | |
|:---|:---|
| February 6, 2023 | February 6, 2023 |
| **CL Lion Investment III Limited** | **CL Lion Investment III Limited** |
| By: | /s/ Ching Nar Cindy Chan |
| Name: | Ching Nar Cindy Chan |
| Title: | Director |

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