# EDGAR Filing Document

**Accession Number:** 0001866364
**File Stem:** 0002079871-25-000002
**Filing Date:** 2025-8
**Character Count:** 27712
**Document Hash:** 607a1eae0cd9d75f6bb6087f8ea8fcb1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002079871-25-000002.hdr.sgml**: 20250812

**ACCESSION NUMBER**: 0002079871-25-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250812

**DATE AS OF CHANGE**: 20250812

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Webull Corp
- **CENTRAL INDEX KEY:** 0001866364
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95162
- **FILM NUMBER:** 251205087

**BUSINESS ADDRESS:**
- **STREET 1:** 200 CARILLON PARKWAY
- **CITY:** ST. PETERSBURG
- **STATE:** FL
- **ZIP:** 33716
- **BUSINESS PHONE:** 917-725-2448

**MAIL ADDRESS:**
- **STREET 1:** 200 CARILLON PARKWAY
- **CITY:** ST. PETERSBURG
- **STATE:** FL
- **ZIP:** 33716
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership)
- **CENTRAL INDEX KEY:** 0002079871

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** F4
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** NO.200 XINGYE STREET
- **STREET 2:** QIANJIANG CENTRAL BUSINESS DISTRICT
- **CITY:** HANGZHOU
- **NON US STATE TERRITORY:** ZHEJIANG
- **PROVINCE COUNTRY:** F4
- **ZIP:** 310016
- **BUSINESS PHONE:** 860571 89705476 8026

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** NO.200 XINGYE STREET
- **STREET 2:** QIANJIANG CENTRAL BUSINESS DISTRICT
- **CITY:** HANGZHOU
- **NON US STATE TERRITORY:** ZHEJIANG
- **PROVINCE COUNTRY:** F4
- **ZIP:** 310016

### Attached PDF Documents

**Attachment 1:** `Exhibit.pdf`

_No text found in this document._

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

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 1)**

**Issuer:** Webull Corp

**Title of Class of Securities:** Class A Ordinary Shares, par value US$0.00001 per share

**CUSIP Number:** G9572D103

**Date of Event Which Requires Filing of this Statement:** 06/30/2025

**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>Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership) | Names of Reporting Persons<br>Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership) |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 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>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>11011948.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>11011948.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>11011948.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>11011948.00 |
| 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>2.7% | Percent of Class Represented by Amount in Row (9)<br>2.7% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** This Schedule 13G/A is filed by Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), Anji Boye Investment Partnership (Limited Partnership), Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership), Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. and Tian Luo (collectively, the Reporting Persons). The Reporting Persons expressly disclaim status as a group for purposes of this Schedule 13G/A.

Calculated based on 401,758,855 Class A ordinary shares issued and outstanding as of July 22, 2025 provided by the Issuer, as reported on its Form 424B3 Registration Statement filed with the Securities and Exchange Commission on July 23, 2025.

---

| 1. | Names of Reporting Persons<br>Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership) | Names of Reporting Persons<br>Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership) |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 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>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>7127532.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>7127532.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>7127532.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>7127532.00 |
| 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>1.8% | Percent of Class Represented by Amount in Row (9)<br>1.8% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** This Schedule 13G/A is filed by Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), Anji Boye Investment Partnership (Limited Partnership), Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership), Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. and Tian Luo (collectively, the Reporting Persons). The Reporting Persons expressly disclaim status as a group for purposes of this Schedule 13G/A.

Calculated based on 401,758,855 Class A ordinary shares issued and outstanding as of July 22, 2025 provided by the Issuer, as reported on its Form 424B3 Registration Statement filed with the Securities and Exchange Commission on July 23, 2025.

---

| 1. | Names of Reporting Persons<br>Anji Boye Investment Partnership (Limited Partnership) | Names of Reporting Persons<br>Anji Boye Investment Partnership (Limited Partnership) |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 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>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>11011948.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>11011948.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>11011948.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>11011948.00 |
| 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>2.7% | Percent of Class Represented by Amount in Row (9)<br>2.7% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** This Schedule 13G/A is filed by Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), Anji Boye Investment Partnership (Limited Partnership), Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership), Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. and Tian Luo (collectively, the Reporting Persons). The Reporting Persons expressly disclaim status as a group for purposes of this Schedule 13G/A.

Calculated based on 401,758,855 Class A ordinary shares issued and outstanding as of July 22, 2025 provided by the Issuer, as reported on its Form 424B3 Registration Statement filed with the Securities and Exchange Commission on July 23, 2025.

---

| 1. | Names of Reporting Persons<br>Shanghai Bojiang Investment Management Co., Ltd. | Names of Reporting Persons<br>Shanghai Bojiang Investment Management Co., Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 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>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>29151428.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>29151428.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29151428.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29151428.00 |
| 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>7.3% | Percent of Class Represented by Amount in Row (9)<br>7.3% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** This Schedule 13G/A is filed by Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), Anji Boye Investment Partnership (Limited Partnership), Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership), Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. and Tian Luo (collectively, the Reporting Persons). The Reporting Persons expressly disclaim status as a group for purposes of this Schedule 13G/A.

Consists of 7,127,532 Class A ordinary shares held by Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), 11,011,948 Class A ordinary shares held by Anji Boye Investment Partnership (Limited Partnership), and 11,011,948 Class A ordinary shares held by Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership). Shanghai Bojiang Investment Management Co., Ltd. serves as the General Partner of Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), Anji Boye Investment Partnership (Limited Partnership) and Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership) (Collectively referred as Bojiang Capital entities). Shanghai Bojiang Investment Management Co., Ltd. is wholly owned by Bojiang Group Co., Ltd. Tian Luo controls Bojiang Group Co., Ltd. by beneficially owning 49.76% equity interest therein. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. and Tian Luo possess power to direct the voting and disposition of the shares owned by Bojiang Capital entities and may be deemed to have indirect beneficial ownership of the shares held by Bojiang Capital entities. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. and Tian Luo own no securities of the Issuer directly.

Calculated based on 401,758,855 Class A ordinary shares issued and outstanding as of July 22, 2025 provided by the Issuer, as reported on its Form 424B3 Registration Statement filed with the Securities and Exchange Commission on July 23, 2025.

---

| 1. | Names of Reporting Persons<br>Bojiang Group Co., Ltd. | Names of Reporting Persons<br>Bojiang Group Co., Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 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>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>29151428.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>29151428.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29151428.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29151428.00 |
| 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>7.3% | Percent of Class Represented by Amount in Row (9)<br>7.3% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** This Schedule 13G/A is filed by Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), Anji Boye Investment Partnership (Limited Partnership), Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership), Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. and Tian Luo (collectively, the Reporting Persons). The Reporting Persons expressly disclaim status as a group for purposes of this Schedule 13G/A.

Consists of 7,127,532 Class A ordinary shares held by Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), 11,011,948 Class A ordinary shares held by Anji Boye Investment Partnership (Limited Partnership), and 11,011,948 Class A ordinary shares held by Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership). Shanghai Bojiang Investment Management Co., Ltd. serves as the General Partner of Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), Anji Boye Investment Partnership (Limited Partnership) and Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership) (Collectively referred as Bojiang Capital entities). Shanghai Bojiang Investment Management Co., Ltd. is wholly owned by Bojiang Group Co., Ltd. Tian Luo controls Bojiang Group Co., Ltd. by beneficially owning 49.76% equity interest therein. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. and Tian Luo possess power to direct the voting and disposition of the shares owned by Bojiang Capital entities and may be deemed to have indirect beneficial ownership of the shares held by Bojiang Capital entities. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. and Tian Luo own no securities of the Issuer directly.

Calculated based on 401,758,855 Class A ordinary shares issued and outstanding as of July 22, 2025 provided by the Issuer, as reported on its Form 424B3 Registration Statement filed with the Securities and Exchange Commission on July 23, 2025.

---

| 1. | Names of Reporting Persons<br>Tian Luo | Names of Reporting Persons<br>Tian Luo |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 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>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>29151428.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>29151428.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29151428.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29151428.00 |
| 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>7.3% | Percent of Class Represented by Amount in Row (9)<br>7.3% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** This Schedule 13G/A is filed by Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), Anji Boye Investment Partnership (Limited Partnership), Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership), Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. and Tian Luo (collectively, the Reporting Persons). The Reporting Persons expressly disclaim status as a group for purposes of this Schedule 13G/A.

Consists of 7,127,532 Class A ordinary shares held by Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), 11,011,948 Class A ordinary shares held by Anji Boye Investment Partnership (Limited Partnership), and 11,011,948 Class A ordinary shares held by Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership). Shanghai Bojiang Investment Management Co., Ltd. serves as the General Partner of Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership), Anji Boye Investment Partnership (Limited Partnership) and Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership) (Collectively referred as Bojiang Capital entities). Shanghai Bojiang Investment Management Co., Ltd. is wholly owned by Bojiang Group Co., Ltd. Tian Luo controls Bojiang Group Co., Ltd. by beneficially owning 49.76% equity interest therein. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. and Tian Luo possess power to direct the voting and disposition of the shares owned by Bojiang Capital entities and may be deemed to have indirect beneficial ownership of the shares held by Bojiang Capital entities. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. and Tian Luo own no securities of the Issuer directly.

Calculated based on 401,758,855 Class A ordinary shares issued and outstanding as of July 22, 2025 provided by the Issuer, as reported on its Form 424B3 Registration Statement filed with the Securities and Exchange Commission on July 23, 2025.

---

**Item 1(a). Name of Issuer:**
Webull Corp

**Item 1(b). Address of Issuer's Principal Executive Offices:**
200 CARILLON PARKWAY, ST. PETERSBURG, FLORIDA, 33716.

**Item 2(a). Name of Person Filing:**
Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership)
Anji Boye Investment Partnership (Limited Partnership)
Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership)
Shanghai Bojiang Investment Management Co., Ltd.
Bojiang Group Co., Ltd.
Tian Luo

**Item 2(b). Address of Principal Business Office:**
The address of Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership) is Room 3119, Building #1, No. 16 Tongyuan Road, Da Gang Tou, Liandu District, Lishui City,Zhejiang Province, China.
The address of Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership) is No. 668 Lvzhou Avenue, Bailian Village, Sian Town, Changxing County, Huzhou City, Zhejiang Province, China.
The address of Anji Boye Investment Partnership (Limited Partnership) is Room 217, Building #1, Lingfeng Village, Lingfeng Street, Anji County, Huzhou City, Zhejiang Province, China.
The address of Shanghai Bojiang Investment Management Co., Ltd. is 35F, Huafeng International No. 200 Xingye St., Qianjiang CBD, Hangzhou, China.
The address of Bojiang Group Co., Ltd. is 35F, Huafeng International No. 200 Xingye St., Qianjiang CBD, Hangzhou, China.
The address of Tian Luo is 35F, Huafeng International No. 200 Xingye St., Qianjiang CBD, Hangzhou, China.

**Item 2(c). Citizenship:**
Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership) - China
Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership) - China
Anji Boye Investment Partnership (Limited Partnership) - China
Shanghai Bojiang Investment Management Co., Ltd. - China
Bojiang Group Co., Ltd. - China
Tian Luo - China

**Item 2(d). Title of Class of Securities:**
Class A Ordinary Shares, par value US$0.00001 per share

**Item 2(e). CUSIP Number:**
G9572D103

**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:**

Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership) - 11,011,948
Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership) - 7,127,532
Anji Boye Investment Partnership (Limited Partnership) - 11,011,948
Shanghai Bojiang Investment Management Co., Ltd. - 29,151,428
Bojiang Group Co., Ltd. - 29,151,428
Tian Luo - 29,151,428

**(b) Percent of class:**

Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership) - 2.7%
Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership) - 1.8%
Anji Boye Investment Partnership (Limited Partnership) - 2.7%
Shanghai Bojiang Investment Management Co., Ltd. - 7.3%
Bojiang Group Co., Ltd. - 7.3%
Tian Luo - 7.3%

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

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

N/A

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

Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership) - 11,011,948
Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership) - 7,127,532
Anji Boye Investment Partnership (Limited Partnership) - 11,011,948
Shanghai Bojiang Investment Management Co., Ltd. - 29,151,428
Bojiang Group Co., Ltd. - 29,151,428
Tian Luo - 29,151,428

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

N/A

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

Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership) - 11,011,948
Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership) - 7,127,532
Anji Boye Investment Partnership (Limited Partnership) - 11,011,948
Shanghai Bojiang Investment Management Co., Ltd. - 29,151,428
Bojiang Group Co., Ltd. - 29,151,428
Tian Luo - 29,151,428

**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:**

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### 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.

**Lishui Bojiang Chuangfu 2nd Equity Investment Partnership (Limited Partnership)**

**Date:** 08/12/2025

**By:** /s/ Jianping Ruan

**Name & Title:** Authorized Signatory

**Changxing Boyi Equity Investment Fund Management Centre (Limited Partnership)**

**Date:** 08/12/2025

**By:** /s/ Tian Luo

**Name & Title:** Authorized Signatory

**Anji Boye Investment Partnership (Limited Partnership)**

**Date:** 08/12/2025

**By:** /s/ Tian Luo

**Name & Title:** Authorized Signatory

**Shanghai Bojiang Investment Management Co., Ltd.**

**Date:** 08/12/2025

**By:** /s/ Tian Luo

**Name & Title:** Authorized Signatory

**Bojiang Group Co., Ltd.**

**Date:** 08/12/2025

**By:** /s/ Tian Luo

**Name & Title:** Authorized Signatory

**Tian Luo**

**Date:** 08/12/2025

**By:** /s/ Tian Luo

**Name & Title:** Tian Luo