# EDGAR Filing Document

**Accession Number:** 0002062327
**File Stem:** 0001437749-26-006093
**Filing Date:** 2026-2
**Character Count:** 12106
**Document Hash:** c7704a0d48414c47676c83e5095ded91
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-26-006093.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001437749-26-006093

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

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BitVentures Ltd
- **CENTRAL INDEX KEY:** 0001785680
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93559
- **FILM NUMBER:** 26699509

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 15TH FLOOR, AIA CENTRAL,
- **STREET 2:** 1 CONNAUGHT ROAD CENTRAL,
- **CITY:** HONG KONG
- **PROVINCE COUNTRY:** K3
- **BUSINESS PHONE:** 85225939309

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 15TH FLOOR, AIA CENTRAL,
- **STREET 2:** 1 CONNAUGHT ROAD CENTRAL,
- **CITY:** HONG KONG
- **PROVINCE COUNTRY:** K3

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Santech Holdings Ltd
- **DATE OF NAME CHANGE:** 20240717

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Hywin Holdings Ltd.
- **DATE OF NAME CHANGE:** 20190816
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CARMEL HOLDINGS LTD
- **CENTRAL INDEX KEY:** 0002062327

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** D8
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** PORTCULLIS CHAMBERS
- **STREET 2:** 4TH FLOOR, ELLEN SKELTON BUILDING
- **CITY:** ROAD TOWN, TORTOLA
- **STATE:** D8
- **ZIP:** VG1110
- **BUSINESS PHONE:** 852 2593 9309

**MAIL ADDRESS:**
- **STREET 1:** PORTCULLIS CHAMBERS
- **STREET 2:** 4TH FLOOR, ELLEN SKELTON BUILDING
- **CITY:** ROAD TOWN, TORTOLA
- **STATE:** D8
- **ZIP:** VG1110

## Ex-99

**Exhibit 99.1**

**JOINT FILING AGREEMENT**

In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, each of the undersigned parties hereby agrees to file jointly the statement on Schedule 13D (including any amendments thereto) with respect to the ordinary shares, par value $0.0020 per share, of BitVentures Limited (formerly known as Santech Holdings Limited).

It is understood and agreed that each of the parties hereto is responsible for the timely filing of such statement and any amendments thereto, and for the completeness and accuracy of information concerning such party contained therein, but such party is not responsible for the completeness and accuracy of information concerning another party unless such party knows or has reason to believe such information is inaccurate. It is understood and agreed that a copy of this agreement shall be attached as an exhibit to the statement on Schedule 13D, and any amendments thereto, filed on behalf of the parties hereto.

This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument.

[Remainder of this page has been left intentionally blank.]

------

**Signature Page**

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of February 27, 2026.

---

| | |
|:---|:---|
| Carmel Holdings Limited | Carmel Holdings Limited |
| By: | /s/ Simon Sai Man Tan |
| Name: | Simon Sai Man Tan |
| Title: | Director |
| The Raku Foundation | The Raku Foundation |
| By: | /s/ Amanda Bako |
| Name: | Amanda Bako |
| Title: | The R & H Trust Co Ltd, as Secretary |
| By: | /s/ Yvonne Plamondon |
| Name: | Yvonne Plamondon |
| Title: | The R & H Trust Co Ltd, as Secretary |

---

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

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**BitVentures Ltd**

*(Name of Issuer)*

**Ordinary shares, par value US$0.0020 per share**

*(Title of Class of Securities)*

**G4691A114**

*(CUSIP Number)*

**The Raku Foundation**<br>Windward 1, Regatta Office Park<br>P.O. Box 897<br>Grand Cayman E9 KY1-1103<br>(345) 949 7576

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

**02/25/2026**

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

| **CUSIP No.** | **G4691A114** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Carmel Holdings Limited** | Name of reporting person<br>**Carmel 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>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 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>**5693131.00** |
| 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>**5693131.00** |
| 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>**5693131.00** | Aggregate amount beneficially owned by each reporting person<br>**5693131.00** | |
| 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>**67.8%** | Percent of class represented by amount in Row (11)<br>**67.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

| **CUSIP No.** | **G4691A114** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**The Raku Foundation** | Name of reporting person<br>**The Raku Foundation** | |
| 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>**CAYMAN ISLANDS** | Citizenship or place of organization<br>**CAYMAN ISLANDS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5693131.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5693131.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5693131.00** | Aggregate amount beneficially owned by each reporting person<br>**5693131.00** | |
| 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>**67.8%** | Percent of class represented by amount in Row (11)<br>**67.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Ordinary shares, par value US$0.0020 per share

**(b) Name of Issuer:**
BitVentures Ltd

**(c) Address of Issuer's Principal Executive Offices:**
15TH FLOOR, AIA CENTRAL,, 1 CONNAUGHT ROAD CENTRAL,, HONG KONG, K3, 00000

This Amendment No. 2 (this "Amendment No. 2" or this "Schedule 13D/A") amends and supplements the statement on Schedule 13D originally filed with the Securities and Exchange Commission on March 24, 2025, as amended by Amendment No.1 filed on November 12, 2025 ("Amendment No. 1"), by Carmel Holdings Limited.

This Amendment No. 2 is being filed to reflect (i) the change of the Issuer's name from Santech Holdings Limited to BitVentures Limited, (ii) the termination of the Issuer's American depositary receipt program and the substitution listing of the Issuer's ordinary shares on The Nasdaq Capital Market, (iii) the reverse share split effected through a share consolidation, and (iv) the transfer of ownership and control of Carmel Holdings Limited to The Raku Foundation.

Unless otherwise defined herein, capitalized terms used in this Amendment No. 2 shall have the meanings ascribed to them in the original Schedule 13D and the Amendment No. 1.

Except as amended and supplemented hereby, the information set forth in the original Schedule 13D and the Amendment No. 1 remains unchanged.

**Item 4. Purpose of Transaction**

On February 25, 2026, Mr. Lok completed an irrevocable transfer of all of the issued and outstanding equity interests of Carmel to Raku Foundation for succession planning and philanthropic purposes.

Other than as described in this Amendment No. 2, the Reporting Persons do not have any present plans or proposals that would result in any of the actions described in paragraphs (a) through (j) of Item 4 of Schedule 13D.

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

**(a)**
As of February 25, 2026, (i) Carmel is the owner of record of 5,693,131 Ordinary Shares, representing approximately 67.8% of the Issuer's issued and outstanding Ordinary Shares (based on 8,400,115 Ordinary Shares outstanding), and (ii) Raku Foundation may be deemed to beneficially own (within the meaning of Rule 13d-3 under the Exchange Act) the same 5,693,131 Ordinary Shares by virtue of its ownership and control of Carmel.

**(b)**
Carmel has sole voting power and sole dispositive power with respect to the Ordinary Shares held of record by it. Raku Foundation may be deemed to share voting power and dispositive power with respect to such Ordinary Shares by virtue of its ownership and control of Carmel.

**(c)**
During the 60 days preceding the filing of this Schedule 13D, none of the Reporting Persons has effected any transactions in the Shares except as reported herein.

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

The information set forth in Items 2, 3, 4 and 5 of this Amendment No. 2 is incorporated herein by reference. Raku Foundation's indirect voting and dispositive power with respect to the Ordinary Shares arises from its ownership and control of Carmel.

### 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:** Carmel Holdings Limited

**Signature:** /s/ Simon Sai Man Tan

**Name/Title:** Simon Sai Man Tan, Director

**Date:** 02/27/2026

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:** The Raku Foundation

**Signature:** /s/ Amanda Bako

**Name/Title:** Amanda Bako, The R & H Trust Co Ltd, as Secretary

**Date:** 02/27/2026