# EDGAR Filing Document

**Accession Number:** 0002061858
**File Stem:** 0001213900-25-110510
**Filing Date:** 2025-11
**Character Count:** 10203
**Document Hash:** 02d7246fe876863f3da767f591b00df8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-110510.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0001213900-25-110510

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

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**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:** 251483011

**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:** Wang Anquan
- **CENTRAL INDEX KEY:** 0002061858

**ORGANIZATION NAME:**

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

**MAIL ADDRESS:**
- **STREET 1:** 188 BINJIANG JINGGUAN ROAD, BLDG 4
- **STREET 2:** YUELU DISTRICT, CHANGSHA
- **CITY:** HUNAN
- **STATE:** F4
- **ZIP:** 410116

### 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

**CUSIP Number:** G9572D103

**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:**

- [ ] Rule 13d-1(b)

- [ ] Rule 13d-1(c)

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

---

| 1. | Names of Reporting Persons<br>Anquan Wang | Names of Reporting Persons<br>Anquan Wang |
|:---|:---|:---|:---|
| 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>103194966.00 |
| 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>94690301.00 |
| 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>103194966.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>103194966.00 |
| 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>20.8% | Percent of Class Represented by Amount in Row (9)<br>20.8% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** The reported amount includes (i) 10,831,292 Class A ordinary shares, (ii) 83,859,005 Class A ordinary shares issuable upon conversion of an equivalent number of Class B ordinary shares, and (iii) 8,504,665 Class A ordinary shares subject to the Proxy Agreement (as defined in Item 4 of this Schedule 13G).

The percent of class is based on 411,508,855 outstanding Class A ordinary shares, as reported in the issuer's final prospectus filed pursuant to Rule 424(b)(3) with the SEC on September 11, 2025 (the "Final Prospectus"), as increased by (i) 1,805,479 Class A ordinary shares issued in connection with the consummation of Webull Pay Transaction (as defined in the Final Prospectus), and (ii) the 83,859,005 Class A ordinary shares issuable upon conversion of 83,859,005 Class B ordinary shares beneficially owned by the Reporting Person.

---

**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:**
Anquan Wang

**Item 2(b). Address of Principal Business Office:**
Building 4, Fund Town, 188 Binjiang Road, Yuelu District, Changsha, Hunan, People's Republic of China

**Item 2(c). Citizenship:**
People's Republic of China

**Item 2(d). Title of Class of Securities:**
Class A ordinary shares

**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:**

The information required by this item with respect to the Reporting Person is set forth in Rows 5 through 9 and 11 of the cover page to this Schedule 13G.
The reported securities are directly held and beneficially owned as follows:
(i) 10,831,292 Class A ordinary shares are held of record by Webull Partners Limited, which is managed by a trust (the "Trust") for the benefit of certain employees, directors and officers of the issuer. The Reporting Person is the sole member of the advisory committee of the Trust.
(ii) 83,859,005 Class B ordinary shares are held of record by Water Castle Az Inc., whose voting power is fully retained by Pozijie Inc., which is wholly-owned by the Reporting Person.
(iii) The Reporting Person has voting control of 8,504,665 of the 33,550,438 Class A Ordinary Shares subject to a proxy agreement, dated August 15, 2025, by and between the Reporting Person and certain shareholders of the issuer (the "Proxy Agreement"), which agreement provides the Reporting Person with voting rights for a portion of the covered shares in an amount for which the acquisition of voting rights (and beneficial ownership) would not exceed the two percent limitation set forth in Section 13(d)(6)(B) of the Exchange Act of 1934, as amended during any twelve-month period (calculated together with any other acquisitions of Class A ordinary shares by the Reporting Person during such period).
The filing of this Statement shall not be deemed an admission by the Reporting Person of beneficial ownership of any of the reported securities for purposes of Section 13(d) or Section 13(g) or for any other purpose.

**(b) Percent of class:**

20.8%

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

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

Row 5 of the Reporting Person's cover page to this Schedule 13G sets forth the sole power to vote or to direct the vote of securities of the issuer beneficially owned by such Reporting Person as of the filing date of this Schedule 13G and is incorporated by reference.

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

Row 6 of the Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of securities of the issuer beneficially owned by such Reporting Person as of the filing date of this Schedule 13G and is incorporated by reference.

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

Row 7 of the Reporting Person's cover page to this Schedule 13G sets forth the sole power to dispose or to direct the disposition of securities of the issuer beneficially owned by such Reporting Person as of the filing date of this Schedule 13G and is incorporated by reference.

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

Row 8 of the Reporting Person's cover page to this Schedule 13G sets forth the shared power to dispose or to direct the disposition of securities of the issuer beneficially owned by such Reporting Person as of the filing date of this Schedule 13G and is incorporated by reference.

**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:**

—

### 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.

**Anquan Wang**

**Date:** 11/14/2025

**By:** /s/ Anquan Wang

**Name & Title:** Anquan Wang