# EDGAR Filing Document

**Accession Number:** 0001785566
**File Stem:** 0001213900-25-081258
**Filing Date:** 2025-8
**Character Count:** 27119
**Document Hash:** 958113270ebbd997a51419984df3dfa9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-081258.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001213900-25-081258

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Zhongchao Inc.
- **CENTRAL INDEX KEY:** 0001785566
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-EDUCATIONAL SERVICES [8200]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91441
- **FILM NUMBER:** 251266919

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** ROOM 2504, OOCL TOWER
- **STREET 2:** 841 YAN'AN MIDDLE ROAD, JING'AN DISTRICT
- **CITY:** SHANGHAI
- **PROVINCE COUNTRY:** F4
- **ZIP:** 200040
- **BUSINESS PHONE:** 021-32205987

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** ROOM 2504, OOCL TOWER
- **STREET 2:** 841 YAN'AN MIDDLE ROAD, JING'AN DISTRICT
- **CITY:** SHANGHAI
- **PROVINCE COUNTRY:** F4
- **ZIP:** 200040
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Yang Weiguang
- **CENTRAL INDEX KEY:** 0001799603

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** NANXI CREATIVE CENTER, SUITE 218
- **STREET 2:** 841 YAN AN MIDDLE ROAD, JING AN DISTRICT
- **CITY:** SHANGHAI
- **STATE:** F4
- **ZIP:** 200040

## Exhibit 99.5

**Exhibit 99.5**

**Zhongchao Inc.**

**2025 EQUITY INCENTIVE PLAN**

**RESTRICTED SHARE AGREEMENT**

**\* \* \* \* \***

Participant: Weiguang Yang <br>Grant Date: August 25, 2025

Number of Restricted Share Granted: 550,000 Class A Ordinary Shares and 4,450,000 Class B Ordinary Shares

**\* \* \* \* \***

**THIS RESTRICTED SHARES AGREEMENT** (this "<u>Agreement</u>"), dated as of the Grant Date specified above, is entered into by and between Zhongchao Inc. (the "<u>Company</u>"), and the Participant specified above, pursuant to the Company's 2025 Equity Incentive Plan, as in effect and as amended from time to time (the "<u>Plan</u>"); and

**WHEREAS**, it has been determined under the Plan that it would be in the best interests of the Company to grant the Restricted Shares provided herein to the Participant.

**NOW, THEREFORE**, in consideration of the mutual covenants and promises hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby mutually covenant and agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **<u>Incorporation by Reference; Plan Document Receipt</u>**. This Agreement is subject in all respects to the terms and provisions of the Plan (including, without limitation, any amendments thereto adopted at any time and from time to time unless such amendments are expressly intended not to apply to the Award provided hereunder), all of which terms and provisions are made a part of and incorporated in this Agreement as if they were each expressly set forth herein. Any capitalized term not defined in this Agreement shall have the same meaning as is ascribed thereto in the Plan. The Participant hereby acknowledges receipt of a true copy of the Plan and that the Participant has read the Plan carefully and fully understands its content. In the event of any conflict between the terms of this Agreement and the terms of the Plan, the terms of the Plan shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **<u>Grant of Restricted Shares</u>**. The Company hereby grants to the Participant, as of the Grant Date specified above, the number of Restricted Shares specified above. Except as otherwise provided by the Plan, the Participant agrees and understands that nothing contained in this Agreement provides, or is intended to provide, the Participant with any protection against potential future dilution of the Participant's interest in the Company for any reason, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of any such Restricted Shares, except as otherwise specifically provided for in the Plan or this Agreement. Subject to <u>Section 5</u> hereof, the Participant shall not have the rights of a stockholder in respect of the Restricted Shares underlying this Award until such Restricted Shares have become vested and non-forfeitable in accordance with <u>Section 3</u> hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. **<u>Vesting</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>General</u>. Subject to the provisions of <u>Sections 3(b)</u> hereof, if the Participant continues to be a Service Provider through six months after the Grant Date specified above, then at the end of the vesting period for such shares of Restricted Stock (the "<u>Restricted Period</u>"), the Participant shall become vested in the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Acceleration</u>. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of the unvested Restricted Shares at any time, subject to the terms of the Plan. If so accelerated, such Restricted Shares will be considered as having vested as of the date specified by the Administrator. In the event of a Change in Control, Section 14(c) of the Plan shall apply to any unvested Restricted Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Forfeiture</u>. Subject to this <u>Section 3</u>, all unvested Restricted Shares shall be immediately forfeited upon the termination of the Service Provider. The Participant hereby irrevocably appoints the Secretary of the Company or any successor as the Participant's attorney to transfer any forfeited Restricted Shares on the books of the Company with full power of substitution in the premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **<u>Period of Restriction; Delivery of Unrestricted Shares</u>**. When the Restricted Shares awarded by this Agreement become vested and non-forfeitable, the Participant shall be entitled to receive the certificates for the Shares or the evidence of such Shares in the book-entry form from the Company's transfer agent, and if the Participant's stock certificates or book-entry account contain legends restricting the transfer of such Shares, the Participant shall be entitled to receive new stock certificates free of such legends (except any legends requiring compliance with securities laws or as otherwise provided under this Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. **<u>Dividends and Other Distributions; Voting</u>**. Participants holding Restricted Shares shall be entitled to receive dividends or other distributions paid with respect to such Shares. The Participant may exercise voting rights with respect to the Restricted Shares granted hereunder until same have vested.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. **<u>Non-Transferability</u>**. The Restricted Shares, and any rights and interests with respect thereto, issued under this Agreement and the Plan shall not, prior to vesting, be sold, exchanged, transferred, assigned or otherwise disposed of in any way by the Participant (or any beneficiary(ies) of the Participant), other than by testamentary disposition by the Participant or the laws of descent and distribution. Any attempt to sell, exchange, transfer, assign, pledge, encumber or otherwise dispose of or hypothecate in any way any of the Restricted Shares, or the levy of any execution, attachment or similar legal process upon the Restricted Shares, contrary to the terms and provisions of this Agreement and/or the Plan shall be null and void and without legal force or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. **<u>[Reserved]</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. **<u>Governing Law</u>**. All questions concerning the construction, validity and interpretation of this Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to the choice of law principles thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. **<u>Section 83(b)</u>**. The Participant acknowledges that it is the Participant's sole responsibility, and not the Company's, to file timely and properly any election under Section 83(b) of the Code and any corresponding provisions of state tax laws, if the Participant elects to make such election, and the Participant agrees to timely provide the Company with a copy of any such election.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. **<u>Legend</u>**. All certificates representing the Restricted Shares shall have endorsed thereon the legend as determined by the Company. Notwithstanding the foregoing, in no event shall the Company be obligated to deliver to the Participant a certificate representing the Restricted Shares prior to the vesting dates set forth above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. **<u>Entire Agreement; Amendment</u>**. This Agreement, together with the Plan, contains the entire agreement between the parties hereto with respect to the subject matter contained herein, and supersedes all prior agreements or prior understandings, whether written or oral, between the parties relating to such subject matter. The Administrator of the Plan shall have the right, in its sole discretion, to modify or amend this Agreement from time to time in accordance with and as provided in the Plan. This Agreement may also be modified or amended by a writing signed by both the Company and the Participant. The Company shall give written notice to the Participant of any such modification or amendment of this Agreement as soon as practicable after the adoption thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. **<u>Notices</u>**. Any notice hereunder by the Participant shall be given to the Company in writing and such notice shall be deemed duly given only upon receipt thereof by the Chief Financial Officer of the Company. Any notice hereunder by the Company shall be given to the Participant in writing and such notice shall be deemed duly given only upon receipt thereof at such address as the Participant may have on file with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. **<u>No Right to Employment or Service</u>**. Nothing in this Agreement shall interfere with or limit in any way the right of the Company or its Subsidiaries to terminate the Participant's service at any time, for any reason, subject to the terms of the Consulting Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. **<u>Compliance with Laws</u>**. The issuance of the Restricted Shares or unrestricted Shares pursuant to this Agreement shall be subject to, and shall comply with, any applicable requirements of any foreign and U.S. federal and state securities laws, rules and regulations (including, without limitation, the provisions of the Securities Act, the Exchange Act and in each case any respective rules and regulations promulgated thereunder) and any other law or regulation applicable thereto. The Company shall not be obligated to issue the Restricted Shares or any of the unrestricted Shares pursuant to this Agreement if any such issuance would violate any such requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. **<u>Section 409A</u>**. Notwithstanding anything herein or in the Plan to the contrary, the Restricted Shares are intended to be exempt from the applicable requirements of Section 409A of the Code and shall be limited, construed and interpreted in accordance with such intent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. **<u>Binding Agreement; Assignment</u>**. This Agreement shall inure to the benefit of, be binding upon, and be enforceable by the Company and its successors and assigns. The Participant shall not assign (except in accordance with <u>Section 6</u> hereof) any part of this Agreement without the prior express written consent of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. **<u>Headings</u>**. The titles and headings of the various sections of this Agreement have been inserted for convenience of reference only and shall not be deemed to be a part of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. **<u>Counterparts</u>**. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. **<u>Further Assurances</u>**. Each party hereto shall do and perform (or shall cause to be done and performed) all such further acts and shall execute and deliver all such other agreements, certificates, instruments and documents as either party hereto reasonably may request in order to carry out the intent and accomplish the purposes of this Agreement and the Plan and the consummation of the transactions contemplated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. **<u>Severability</u>**. The invalidity or unenforceability of any provisions of this Agreement in any jurisdiction shall not affect the validity, legality or enforceability of the remainder of this Agreement in such jurisdiction or the validity, legality or enforceability of any provision of this Agreement in any other jurisdiction, it being intended that all rights and obligations of the parties hereunder shall be enforceable to the fullest extent permitted by law.

[Remainder of Page Intentionally Left Blank]

[Signature Page Follows]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Grant Date first written above.

---

| | |
|:---|:---|
| **COMPANY: Zhongchao Inc.** | **COMPANY: Zhongchao Inc.** |
| By: | /s/ Pei Xu |
| Name: | Pei Xu |
| Title: | Chief Financial Officer and Director |
| **PARTICIPANT:** | **PARTICIPANT:** |
| By: | /s/ Weiguang Yang |
| Name: | Weiguang Yang |

---

*[Signature Page to Restricted Shares Agreement – Zhongchao Inc.]*

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

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Zhongchao Inc.**

*(Name of Issuer)*

**Class A Ordinary Shares, par value$0.001 per share**

*(Title of Class of Securities)*

**G9897X115**

*(CUSIP Number)*

**Weiguang Yang**<br>Room 2504, OOCL Tower<br>841 Yan'an Middle Road, Jing'An District<br>Shanghai F4 200040<br>021-32205987

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**08/25/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **G9897X115** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**More Healthy Holdings Limited** | Name of reporting person<br>**More Healthy Holdings Limited** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**D8** | Citizenship or place of organization<br>**D8** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**549772.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**549772.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**549772.00** | Aggregate amount beneficially owned by each reporting person<br>**549772.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**2.1%** | Percent of class represented by amount in Row (11)<br>**2.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** (1) Represents 549,772 Class B ordinary shares, par value $0.001 per share (the "Class B Ordinary Shares") of Zhongchao Inc. (the "Company") held by More Healthy Holdings Limited ("More Healthy"). More Healthy is 100% owned by Weiguang Yang ("Yang"); accordingly, Yang is deemed to control More Healthy. Each Class A ordinary share, par value $0.001 per share (the "Class A Ordinary Shares") entitles to one (1) vote, and each Class B Ordinary Shares entitles to a hundred (100) votes. More Healthy is entitled to an aggregate of 54,977,200 votes. More Healthy maintains the right to convert its Class B Ordinary Shares into Class A Ordinary Shares at any time, in its sole discretion, on a one for one basis; following such conversion, the resulting Class A Ordinary Shares will retain the same one for one voting power as all other Class A Ordinary Shares.

(2) The percentage is based on an aggregate of 50,643,255 Class A Ordinary Shares, including (i) 25,254,124Class A Ordinary Shares issued and outstanding, and (ii) 549,772 Class A Ordinary Shares issuable upon the conversion of the Class B Ordinary Shares held by More Healthy as of the date hereof.

| **CUSIP No.** | **G9897X115** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Weiguang Yang** | Name of reporting person<br>**Weiguang Yang** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CHINA** | Citizenship or place of organization<br>**CHINA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**5549772.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**549772.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**549772.00** | Aggregate amount beneficially owned by each reporting person<br>**549772.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**18.3%** | Percent of class represented by amount in Row (11)<br>**18.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** (1) Represents (i) 549,772 Class B Ordinary Shares held by More Healthy, (ii) 550,000 unvested Class A Ordinary Shares directly held by Yang, and (iii) 4,450,000 unvested Class B Ordinary Shares directly held by Yang. Each Class A Ordinary Share entitles to one (1) vote, and each Class B Ordinary Shares entitles to a hundred (100) votes. Yang is entitled to an aggregate of 500,527,200 votes. Yang maintains the right to convert the Class B Ordinary Shares (except for the unvested Class B Ordinary Shares) into Class A Ordinary Shares at any time, in its sole discretion, on a one for one basis; following such conversion, the resulting Class A Ordinary Shares will retain the same one for one voting power as all other Class A Ordinary Shares.

(2) The percentage is based on an aggregate of 30,253,896 Class A Ordinary Shares, including (i) 25,254,124 Class A Ordinary Shares issued and outstanding, and (ii) 4,999,772 Class A Ordinary Shares issuable upon the conversion of the Class B Ordinary Shares held by Yang as of the date hereof, respectively.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Ordinary Shares, par value$0.001 per share

**(b) Name of Issuer:**
Zhongchao Inc.

**(c) Address of Issuer's Principal Executive Offices:**
Room 2504, OOCL Tower, 841 Yan'an Middle Road, Jing'An District, Shanghai, F4, 200040

This amendment No. 2 (the "Amendment") to the Schedule 13D is filed to amend and supplement the statement on Schedule 13D, initially filed with the Securities and Exchange Commission (the "SEC") on February 26, 2020 ( the "Schedule 13D").

This Amendment is being filed on behalf of More Healthy Holdings Limited, a company limited by shares incorporated under the laws of British Virgin Islands ("More Healthy") and Mr. Weiguang Yang ("Yang"), the sole member of More Healthy (collectively the "Reporting Persons"), relating to Ordinary Shares of the Company. The person having voting, dispositive or investment powers over More Healthy Holdings Limited is Yang.

This Amendment is being filed because the Ordinary Shares beneficially owned by the Reporting Persons has increased by an amount in excess of one percent of the total number of Ordinary Shares outstanding.

Except as otherwise set forth in this Amendment, the information set forth in the Schedule 13D remains unchanged and is incorporated herein by reference to the extent relevant to the items in this Amendment. This Amendment should be read together with the Schedule 13D.

**Item 4. Purpose of Transaction**

Item 4 of the Schedule 13D is amended and supplemented by adding the following:

On August 25, 2025, the Company granted a restricted share awards of a total of 5,000,000 Restricted Shares to Yang under the Company's 2025 Equity Incentive Plan, including 550,000 Class A Ordinary Shares and 4,450,000 Class B Ordinary Shares, which will become vested on February 25, 2026. Yang has the right to vote, but not the right to dispose or direct the disposition of, the unvested 2025 Restricted Shares beneficially owned by him.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5 of the Schedule 13D is amended and supplemented as follows:
a. As of the date hereof, the aggregate number and percentage of the Company's Ordinary Shares to which this Amendment relates is:
i. Yang: 5,549,772 Ordinary Shares, including (i) 550,000 unvested Class A Ordinary Shares directly held by Yang, (ii) 4,450,000 unvested Class B Ordinary Shares directly held by Yang, and (iii) 549,772 Class B Ordinary Shares held by More Healthy; and
ii. More Healthy: 549,772 Class B Ordinary Shares

**(b)**
b. The beneficial ownership of each of the Reporting Persons is:
i. Yang:
sole power to vote or direct the vote of 5,549,772 Ordinary Shares, including (i) 550,000 unvested Class A Ordinary Shares directly held by Yang, (ii) 4,450,000 unvested Class B Ordinary Shares directly held by Yang, and (iii) 549,772 Class B Ordinary Shares held by More Healthy;
shared power to vote or direct the vote of 0 Ordinary Share;
sole power to dispose or direct the disposition of 549,772 Class B Ordinary Shares held by More Healthy; and
share power to dispose or direct the disposition of 0 Ordinary Share.
ii. More Healthy:
sole power to vote or direct the vote of 549,772 Class B Ordinary Shares;
shared power to vote or direct the vote of 0 Ordinary Share;
sole power to dispose or direct the disposition of 549,772 Class B Ordinary Shares; and
share power to dispose or direct the disposition of 0 Ordinary Share.

**(c)**
Other than as described in Item 4 above, no transactions in the Ordinary Shares of the Company were effected by the Reporting Persons during the past 60 days.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 6 of the Schedule 13D is amended and supplemented by adding the following:

"Restricted Share Agreement

Yang is a party to that certain restricted share agreement with the Company, pursuant to which the Company granted him 5,000,000 Restricted Shares under the Company's 2025 Equity Incentive Plan, including 550,000 Class A Ordinary Shares and 4,450,000 Class B Ordinary Shares, which will become vested on February 25, 2026. These Restricted Shares were awarded to Yang as compensation for his services as the Chief Executive Officer of the Company. The Restricted Share Agreement is attached hereto as Exhibit 99.5."

To the knowledge of the Reporting Persons, there are no other contracts, arrangements, understandings or relationships among the persons named in Item 2 with respect to any securities of the Company, except as described herein.

### 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.

**Reporting Person:** More Healthy Holdings Limited

**Signature:** /s/ Weiguang Yang

**Name/Title:** Sole Shareholder

**Date:** 08/27/2025

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.

**Reporting Person:** Weiguang Yang

**Signature:** /s/ Weiguang Yang

**Name/Title:** Weiguang Yang

**Date:** 08/27/2025