# EDGAR Filing Document

**Accession Number:** 0001684210
**File Stem:** 0001104659-25-065934
**Filing Date:** 2025-7
**Character Count:** 26038
**Document Hash:** ae21c4cb15ef8453c56b001321ea8e81
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-065934.hdr.sgml**: 20250707

**ACCESSION NUMBER**: 0001104659-25-065934

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

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250707

**DATE AS OF CHANGE**: 20250707

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Canadian Solar Inc.
- **CENTRAL INDEX KEY:** 0001375877
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-82485
- **FILM NUMBER:** 251106928

**BUSINESS ADDRESS:**
- **STREET 1:** 4273 KING STREET EAST, SUITE 102
- **CITY:** KITCHENER
- **STATE:** A6
- **ZIP:** N2P 2E9
- **BUSINESS PHONE:** 519-837-1881

**MAIL ADDRESS:**
- **STREET 1:** 66 WELLINGTON STREET WEST
- **STREET 2:** SUITE 4100
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5K 1B7
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pacific Alliance Group Ltd
- **CENTRAL INDEX KEY:** 0001684210

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 472, 2ND FLOOR, HARBOUR PLACE
- **STREET 2:** 103 SOUTH CHURCH STREET
- **CITY:** GEORGE TOWN, GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-1106
- **BUSINESS PHONE:** 1 (345) 949-0699

**MAIL ADDRESS:**
- **STREET 1:** 33/F THREE PACIFIC PLACE
- **STREET 2:** 1 QUEEN'S ROAD EAST
- **CITY:** HONG KONG
- **STATE:** K3
- **ZIP:** 00000

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

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 1)**

**Issuer:** Canadian Solar Inc.

**Title of Class of Securities:** Common shares, no par value

**CUSIP Number:** 136635109

**Date of Event Which Requires Filing of this Statement:** 07/03/2025

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

- [ ] Rule 13d-1(b)

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

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>PAG Castle Holdings Pte. Ltd. | Names of Reporting Persons<br>PAG Castle Holdings Pte. 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>U0 | Citizenship or Place of Organization<br>U0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 |
| 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>14.1% | Percent of Class Represented by Amount in Row (9)<br>14.1% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** The beneficial ownership reported herein represents 10,989,020 common shares issuable upon conversion of the convertible notes that PAG Castle Holdings Pte. Ltd. ("PAG Castle") has acquired or is entitled to acquire at any time within the next 60 days (all of which are or shall be immediately convertible).

The percentage is calculated based on the sum of (i) 66,972,246 common shares issued and outstanding as of April 29, 2025, as reported in the Issuer's report on Form 6-K filed on May 21, 2025 and (ii) 10,989,020 common shares issuable upon conversion of the convertible notes that PAG Castle may be deemed to beneficially own.

---

| 1. | Names of Reporting Persons<br>PAGGC II-1 (Cayman) Limited | Names of Reporting Persons<br>PAGGC II-1 (Cayman) 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>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 |
| 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>14.1% | Percent of Class Represented by Amount in Row (9)<br>14.1% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** The beneficial ownership reported herein represents 10,989,020 common shares issuable upon conversion of the convertible notes that PAG Castle has acquired or is entitled to acquire at any time within the next 60 days (all of which are or shall be immediately convertible). PAGGC II-1 (Cayman) Limited may be deemed to beneficially own the common shares beneficially owned by PAG Castle.

The percentage is calculated based on the sum of (i) 66,972,246 common shares issued and outstanding as of April 29, 2025, as reported in the Issuer's report on Form 6-K filed on May 21, 2025 and (ii) 10,989,020 common shares issuable upon conversion of the convertible notes that PAGGC II-1 (Cayman) Limited may be deemed to beneficially own.

---

| 1. | Names of Reporting Persons<br>PAG Growth II LP | Names of Reporting Persons<br>PAG Growth II LP |
|:---|:---|:---|:---|
| 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>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 |
| 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>14.1% | Percent of Class Represented by Amount in Row (9)<br>14.1% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** The beneficial ownership reported herein represents 10,989,020 common shares issuable upon conversion of the convertible notes that PAG Castle has acquired or is entitled to acquire at any time within the next 60 days (all of which are or shall be immediately convertible). PAG Growth II LP may be deemed to beneficially own the common shares beneficially owned by PAG Castle.

The percentage is calculated based on the sum of (i) 66,972,246 common shares issued and outstanding as of April 29, 2025, as reported in the Issuer's report on Form 6-K filed on May 21, 2025 and (ii) 10,989,020 common shares issuable upon conversion of the convertible notes that PAG Growth II LP may be deemed to beneficially own.

---

| 1. | Names of Reporting Persons<br>PAG Growth Capital GP II Limited | Names of Reporting Persons<br>PAG Growth Capital GP II 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>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 |
| 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>14.1% | Percent of Class Represented by Amount in Row (9)<br>14.1% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** The beneficial ownership reported herein represents 10,989,020 common shares issuable upon conversion of the convertible notes that PAG Castle has acquired or is entitled to acquire at any time within the next 60 days (all of which are or shall be immediately convertible). PAG Growth Capital GP II Limited may be deemed to beneficially own the common shares beneficially owned by PAG Castle.

The percentage is calculated based on the sum of (i) 66,972,246 common shares issued and outstanding as of April 29, 2025, as reported in the Issuer's report on Form 6-K filed on May 21, 2025 and (ii) 10,989,020 common shares issuable upon conversion of the convertible notes that PAG Growth Capital GP II Limited may be deemed to beneficially own.

---

| 1. | Names of Reporting Persons<br>PAG Growth Limited | Names of Reporting Persons<br>PAG Growth 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>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 |
| 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>14.1% | Percent of Class Represented by Amount in Row (9)<br>14.1% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** The beneficial ownership reported herein represents 10,989,020 common shares issuable upon conversion of the convertible notes that PAG Castle has acquired or is entitled to acquire at any time within the next 60 days (all of which are or shall be immediately convertible). PAG Growth Limited may be deemed to beneficially own the common shares beneficially owned by PAG Castle.

The percentage is calculated based on the sum of (i) 66,972,246 common shares issued and outstanding as of April 29, 2025, as reported in the Issuer's report on Form 6-K filed on May 21, 2025 and (ii) 10,989,020 common shares issuable upon conversion of the convertible notes that PAG Growth Limited may be deemed to beneficially own.

---

| 1. | Names of Reporting Persons<br>Pacific Alliance Group Limited | Names of Reporting Persons<br>Pacific Alliance 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>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>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 |
| 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>14.1% | Percent of Class Represented by Amount in Row (9)<br>14.1% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** The beneficial ownership reported herein represents 10,989,020 common shares issuable upon conversion of the convertible notes that PAG Castle has acquired or is entitled to acquire at any time within the next 60 days (all of which are or shall be immediately convertible). Pacific Alliance Group Limited may be deemed to beneficially own the common shares beneficially owned by PAG Castle.

The percentage is calculated based on the sum of (i) 66,972,246 common shares issued and outstanding as of April 29, 2025, as reported in the Issuer's report on Form 6-K filed on May 21, 2025 and (ii) 10,989,020 common shares issuable upon conversion of the convertible notes that Pacific Alliance Group Limited may be deemed to beneficially own.

---

| 1. | Names of Reporting Persons<br>PAG | Names of Reporting Persons<br>PAG |
|:---|:---|:---|:---|
| 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>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>10989020.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>10989020.00 |
| 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>14.1% | Percent of Class Represented by Amount in Row (9)<br>14.1% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** The beneficial ownership reported herein represents 10,989,020 common shares issuable upon conversion of the convertible notes that PAG Castle has acquired or is entitled to acquire at any time within the next 60 days (all of which are or shall be immediately convertible). PAG may be deemed to beneficially own the common shares beneficially owned by PAG Castle.

The percentage is calculated based on the sum of (i) 66,972,246 common shares issued and outstanding as of April 29, 2025, as reported in the Issuer's report on Form 6-K filed on May 21, 2025 and (ii) 10,989,020 common shares issuable upon conversion of the convertible notes that PAG may be deemed to beneficially own.

---

**Item 1(a). Name of Issuer:**
Canadian Solar Inc.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
545 Speedvale Avenue West Guelph, A6, N1K 1E6

**Item 2(a). Name of Person Filing:**
This statement is filed by the entities listed below, all of whom together are referred to herein as the "Reporting Persons":

(i) PAG, a Cayman Islands company;

(ii) Pacific Alliance Group Limited ("PAG Limited"), a Cayman Islands company, beneficially held as to 100.0% by PAG;

(iii) PAG Growth Limited, a Cayman Islands company, beneficially held as to 100.0% by PAG Limited;

(iv) PAG Growth Capital GP II Limited ("PAG Growth Capital"), a Cayman Islands company, beneficially held as to 100.0% by PAG Growth Limited;

(v) PAG Growth II LP ("PAG Growth II"), a Cayman Islands limited partnership, of which PAG Growth Capital is the general partner;

(vi) PAGGC II-1 (Cayman) Limited ("PAGGC II-1 Limited"), a Cayman Islands company, beneficially held as to 100.0% by PAG Growth II; and

(vii) PAG Castle Holdings Pte. Ltd. ("PAG Castle"), a Singapore company, beneficially held as to 100.0% by PAGGC II-1 Limited.

The securities reported herein are held directly by PAG Castle.

**Item 2(b). Address of Principal Business Office:**
(i) PAG and PAG Limited

The address of the principal business office of each of PAG and PAG Limited is located at:

PO Box 472, 2nd Floor, Harbour Place, 103 South Church Street, George Town, Grand Cayman KY1-1106, Cayman Islands

(ii) PAG Growth Limited

The address of the principal business office of PAG Growth Limited is located at:

PO Box 472, 2nd Floor, Harbour Place, 103 South Church Street, George Town, Grand Cayman KY1-1106, Cayman Islands

(iii) PAG Growth Capital

The address of the principal business office of PAG Growth Capital is located at:

PO Box 472, 2nd Floor, Harbour Place, 103 South Church Street, George Town, Grand Cayman KY1-1106, Cayman Islands

(iv) PAG Growth II

The address of the principal business office of PAG Growth II is located at:

PO Box 472, 2nd Floor, Harbour Place, 103 South Church Street, George Town, Grand Cayman KY1-1106, Cayman Islands

(v) PAGGC II-1 Limited

The address of the principal business office of PAGGC II-1 Limited is located at:

PO Box 472, 2nd Floor, Harbour Place, 103 South Church Street, George Town, Grand Cayman KY1-1106, Cayman Islands

(vi) PAG Castle

The address of the principal business office of PAG Castle is located at:

9 Temasek Boulevard, #12-01/02, Suntec Tower Two, 038989, Singapore

**Item 2(c). Citizenship:**
See Item 2(a) above.

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

**Item 2(e). CUSIP Number:**
136635109

**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:**

See Row 9 of the cover page for each Reporting Person.

**(b) Percent of class:**

See Row 11 of the cover page for each Reporting Person.
Percent of class is calculated based on the sum of (i) 66,972,246 common shares issued and outstanding as of April 29, 2025, as reported in the Issuer's report on Form 6-K filed on May 21, 2025 and (ii) 10,989,020 common shares issuable upon conversion of the convertible notes that may be deemed to be beneficially owned by the Reporting Persons.

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

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

See Row 5 of the cover page for each Reporting Person.

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

See Row 6 of the cover page for each Reporting Person.

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

See Row 7 of the cover page for each Reporting Person.

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

See Row 8 of the cover page for each Reporting Person.

**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:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### 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.

**PAG Castle Holdings Pte. Ltd.**

**Date:** 07/03/2025

**By:** /s/ Lincoln Lin Feng Pan

**Name & Title:** Lincoln Lin Feng Pan / Authorised Signatory

**PAGGC II-1 (Cayman) Limited**

**Date:** 07/03/2025

**By:** /s/ Lincoln Lin Feng Pan

**Name & Title:** Lincoln Lin Feng Pan / Director of PA-Growth 2 Secretaries Limited, acting as the Corporate Director of PAGGC II-1 (Cayman) Limited

**PAG Growth II LP**

**Date:** 07/03/2025

**By:** /s/ Jon Robert Lewis

**Name & Title:** Jon Robert Lewis / Director of PAG Growth Capital GP II Limited, acting as the general partner of PAG Growth II LP

**PAG Growth Capital GP II Limited**

**Date:** 07/03/2025

**By:** /s/ Jon Robert Lewis

**Name & Title:** Jon Robert Lewis / Director

**PAG Growth Limited**

**Date:** 07/03/2025

**By:** /s/ Jon Robert Lewis

**Name & Title:** Jon Robert Lewis / Director

**Pacific Alliance Group Limited**

**Date:** 07/03/2025

**By:** /s/ Jon Robert Lewis

**Name & Title:** Jon Robert Lewis / Director

**PAG**

**Date:** 07/03/2025

**By:** /s/ Jon-Paul Toppino

**Name & Title:** Jon-Paul Toppino / Director