Large dual-class stake reported by Nano Labs (NA) CEO via offshore trusts
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Nano Labs Ltd CEO and director Kong Jianping has filed an initial Form 3 reporting indirect holdings of the company’s dual-class shares. Through JIANPING KONG LTD, he is reported as indirectly holding 1,699,892 shares of Class B Common Stock and 2,558,841 shares of Class A Common Stock. Through Wlyl Ltd, he is indirectly associated with an additional 749,812 Class A shares. The reported amounts reflect a prior 2‑to‑1 share consolidation on January 31, 2024 and a 10‑to‑1 share consolidation on November 3, 2024. Each Class B share can be converted into one Class A share, and carries 50 votes versus one vote for each Class A share, giving these holdings substantial voting power.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Kong Jianping
Role
CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Common Stock, par value $0.002 per share | -- | -- | -- |
| holding | Class A Common Stock, par value $0.002 per share | -- | -- | -- |
| holding | Class A Common Stock, par value $0.002 per share | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock, par value $0.002 per share — 1,699,892 shares (Indirect, By JIANPING KONG LTD);
Class A Common Stock, par value $0.002 per share — 2,558,841 shares (Indirect, By JIANPING KONG LTD)
Footnotes (1)
- The amount of shares is calculated based on a 2-to-1 share consolidation on January 31, 2024, and 10-to-1 share consolidation on November 3, 2024 JIANPING KONG LTD, a company incorporated in the British Virgin Islands, which is wholly owned by NlabsDAO Trust, a trust established under the laws of the British Virgin Islands and managed by Tricor Equity Trustee Limited. Wlyl Ltd, a company incorporated in the British Virgin Islands, which is wholly owned by Lunyu Trust, a trust established under the laws of the Singapore and managed by Teeroy Limited. Each Class B Ordinary Share is convertible at the option of the holder into one Class A Ordinary Share. Class A Ordinary Shares are not convertible into Class B Ordinary Shares under any circumstances. Upon any sale, transfer, assignment or disposition of Class B ordinary shares by a holder thereof to any person or entity that is not Mr. Jianping Kong, Mr. Qifeng Sun or their affiliate (as defined in the currently effective memorandum and articles of association), or upon a change of ultimate beneficial ownership of any Class B ordinary share to any person who is not Mr. Jianping Kong, Mr. Qifeng Sun or their affiliate, such Class B ordinary shares will be automatically and immediately converted into an equal number of Class A ordinary shares. The rights of the holders of Class A and Class B Ordinary Shares are identical, except with respect to conversion rights (noted above) and voting rights. Each Class B Ordinary Share is entitled to 50 votes on all matters subject to vote at general meetings of the Issuer, Class A Ordinary Share is entitled to one vote.
FAQ
What does Nano Labs (NA) CEO Kong Jianping report on this Form 3?
The filing reports Kong Jianping’s indirect ownership of Nano Labs shares through offshore entities. It lists substantial holdings of both Class A and Class B shares following past share consolidations, establishing his starting beneficial ownership and voting influence as an insider of the company.