# EDGAR Filing Document

**Accession Number:** 0001738126
**File Stem:** 0001738126-25-000007
**Filing Date:** 2025-11
**Character Count:** 14298
**Document Hash:** 228eb1529013884f4b6438a54bc95333
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001738126-25-000007.hdr.sgml**: 20251113

**ACCESSION NUMBER**: 0001738126-25-000007

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251113

**DATE AS OF CHANGE**: 20251113

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Atour Lifestyle Holdings Ltd
- **CENTRAL INDEX KEY:** 0001853717
- **STANDARD INDUSTRIAL CLASSIFICATION:** HOTELS & MOTELS [7011]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93949
- **FILM NUMBER:** 251479564

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 1ST FLOOR, WUZHONG BUILDING
- **STREET 2:** 618 WUZHONG ROAD, MINHANG DISTRICT
- **CITY:** SHANGHAI
- **PROVINCE COUNTRY:** F4
- **BUSINESS PHONE:** (86) 021-64059928

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 1ST FLOOR, WUZHONG BUILDING
- **STREET 2:** 618 WUZHONG ROAD, MINHANG DISTRICT
- **CITY:** SHANGHAI
- **PROVINCE COUNTRY:** F4
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OLP CAPITAL MANAGEMENT Ltd
- **CENTRAL INDEX KEY:** 0001738126

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** K3
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** UNIT 2430, 24/F, LEE GARDEN ONE
- **STREET 2:** 33 HYSAN AVENUE
- **CITY:** CAUSEWAY BAY
- **STATE:** K3
- **ZIP:** 00000
- **BUSINESS PHONE:** 852 39598920

**MAIL ADDRESS:**
- **STREET 1:** UNIT 2430, 24/F, LEE GARDEN ONE
- **STREET 2:** 33 HYSAN AVENUE
- **CITY:** CAUSEWAY BAY
- **STATE:** K3
- **ZIP:** 00000

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OCEANLINK MANAGEMENT LTD.
- **DATE OF NAME CHANGE:** 20180420

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

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** Atour Lifestyle Holdings Ltd

**Title of Class of Securities:** Class A ordinary shares, par value $0.0001 per share

**CUSIP Number:** 04965M106

**Date of Event Which Requires Filing of this Statement:** 09/30/2025

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

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

- [ ] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>OLP CAPITAL MANAGEMENT Ltd | Names of Reporting Persons<br>OLP CAPITAL MANAGEMENT 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>K3 | Citizenship or Place of Organization<br>K3 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>25573824 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>25573824 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>25573824 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>25573824 |
| 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>7.5% | Percent of Class Represented by Amount in Row (9)<br>7.5% |
| 12. | Type of Reporting Person (See Instructions)<br>FI | Type of Reporting Person (See Instructions)<br>FI |

**Comment for Type of Reporting Person:** (1) The values in rows 5,7, and 9 - 25,573,824 Class A ordinary shares of Atour Lifestyle Holdings Limited (the Issuer) are represented by  8,524,608 American Depositary Shares (ADSs), each ADS representing three (3) Ordinary Shares.

(2) The percentage in row 11 -  The total number of outstanding Class A ordinary shares used to calculate the percentage of class ownership consists of 340,876,937 Class A ordinary shares (excluding the 6,602,585 Class A ordinary shares issued to the Issuer's depositary bank for bulk issuance of ADSs reserved for future share issuances upon the exercise or vesting of equity awards under the Issuer's Public Company Share Incentive Plan) as disclosed in the annual report on Form 20-F for the fiscal year ended December 31, 2024 filed by the Issuer with the SEC on April 25, 2025.

---

| 1. | Names of Reporting Persons<br>Di Fan Shen | Names of Reporting Persons<br>Di Fan Shen |
|:---|:---|:---|:---|
| 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>A6 | Citizenship or Place of Organization<br>A6 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>25573824 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>25573824 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>25573824 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>25573824 |
| 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>7.5% | Percent of Class Represented by Amount in Row (9)<br>7.5% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

**Comment for Type of Reporting Person:** (1) The values in rows 5,7, and 9 - 25,573,824 Class A ordinary shares of Atour Lifestyle Holdings Limited (the Issuer) are represented by  8,524,608 American Depositary Shares (ADSs), each ADS representing three (3) Ordinary Shares.

(2) The percentage in row 11 -  The total number of outstanding Class A ordinary shares used to calculate the percentage of class ownership consists of 340,876,937 Class A ordinary shares (excluding the 6,602,585 Class A ordinary shares issued to the Issuer's depositary bank for bulk issuance of ADSs reserved for future share issuances upon the exercise or vesting of equity awards under the Issuer's Public Company Share Incentive Plan) as disclosed in the annual report on Form 20-F for the fiscal year ended December 31, 2024 filed by the Issuer with the SEC on April 25, 2025.

---

| 1. | Names of Reporting Persons<br>Richard Li | Names of Reporting Persons<br>Richard Li |
|:---|:---|:---|:---|
| 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>A6 | Citizenship or Place of Organization<br>A6 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>25573824 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>25573824 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>25573824 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>25573824 |
| 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>7.5% | Percent of Class Represented by Amount in Row (9)<br>7.5% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

**Comment for Type of Reporting Person:** (1) The values in rows 5,7, and 9 - 25,573,824 Class A ordinary shares of Atour Lifestyle Holdings Limited (the Issuer) are represented by  8,524,608 American Depositary Shares (ADSs), each ADS representing three (3) Ordinary Shares.

(2) The percentage in row 11 -  The total number of outstanding Class A ordinary shares used to calculate the percentage of class ownership consists of 340,876,937 Class A ordinary shares (excluding the 6,602,585 Class A ordinary shares issued to the Issuer's depositary bank for bulk issuance of ADSs reserved for future share issuances upon the exercise or vesting of equity awards under the Issuer's Public Company Share Incentive Plan) as disclosed in the annual report on Form 20-F for the fiscal year ended December 31, 2024 filed by the Issuer with the SEC on April 25, 2025.

---

**Item 1(a). Name of Issuer:**
Atour Lifestyle Holdings Ltd

**Item 1(b). Address of Issuer's Principal Executive Offices:**
1ST FLOOR, WUZHONG BUILDING, 618 WUZHONG ROAD, MINHANG DISTRICT, SHANGHAI, CHINA
00000

**Item 2(a). Name of Person Filing:**
This joint statement on SCHEDULE 13G/A is being filed by Richard Li, Di Fan Shen and OLP Capital Management Limited, a Hong Kong private company (OLP and, together with Mr. Li and Mr. Shen, the Reporting Persons).

**Item 2(b). Address of Principal Business Office:**
The business address of each of the Reporting Persons is Unit 2430, 24/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong.

**Item 2(c). Citizenship:**
OLP is a private company organized under the laws of Hong Kong, and each of Mr. Li and Mr. Shen is a citizen of Canada.

**Item 2(d). Title of Class of Securities:**
Class A ordinary shares, par value $0.0001 per share

**Item 2(e). CUSIP Number:**
04965M106

**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) [x] 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:**

25,573,824

**(b) Percent of class:**

7.50

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

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

OLP CAPITAL MANAGEMENT Ltd - 25,573,824
Di Fan Shen - 25,573,824
Richard Li - 25,573,824

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

OLP CAPITAL MANAGEMENT Ltd - 0
Di Fan Shen - 0
Richard Li - 0

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

OLP CAPITAL MANAGEMENT Ltd - 25,573,824
Di Fan Shen - 25,573,824
Richard Li - 25,573,824

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

OLP CAPITAL MANAGEMENT Ltd - 0
Di Fan Shen - 0
Richard Li - 0

**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 acquired and are held in the ordinary course of business and 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.

**OLP CAPITAL MANAGEMENT Ltd**

**Date:** 11/13/2025

**By:** Richard Li

**Name & Title:** Director

**Di Fan Shen**

**Date:** 11/13/2025

**By:** Di Fan Shen

**Name & Title:** Director

**Richard Li**

**Date:** 11/13/2025

**By:** Richard Li

**Name & Title:** Director