Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Checkbox not checked   Rule 13d-1(b)
Checkbox not checked   Rule 13d-1(c)
Checkbox checked   Rule 13d-1(d)






SCHEDULE 13G




Comment for Type of Reporting Person:   1. The 521,447,432 ordinay shares beneficially owned with sole voting power include (i) 3,013,200 Class A ordinary shares directly held by Mr. Li on record, (ii) 3,530,768 Class A ordinary shares in the form of ADSs held by Mr. Li in the brokerage account of the administrator of the Issuer's employee stock option program, (iii) 439,200,000 Class B ordinary shares held on record by Handsome Reward Limited, a British Virgin Islands company wholly owned by Mr. Li, (iv) 7,399,504 Class A ordinary shares in the form of ADSs held by Handsome Reward Limited in the brokerage account of the administrator of the Issuer's employee stock option program, (v) 1,404,960 Class A ordinary shares issuable to Handsome Reward Limited upon exercise of options within 60 days after June 30, 2025, (vi) 852,904 Class A ordinary shares issuable to Handsome Reward Limited upon vesting of restricted shares within 60 days after June 30, 2025, and (vii) 66,046,096 Class A ordinary shares in the form of ADSs held by certain employees who have granted Mr. Li irrevocable voting proxies with respect to these shares on their behalf. However, Mr. Li does not have any economic interest with respect to the 66,046,096 Class A ordinary shares in the form of ADSs held by certain employees that are subject to irrevocable voting proxies. 2. The voting power of the ordinary shares beneficially owned represent 60.2% of the total outstanding voting power of the Issuer. The percentage of voting power is calculated by dividing the voting power beneficially owned by the reporting person by the voting power beneficially owned by all of the Issuer's holders of Class A ordinary shares and Class B ordinary shares as a single class as of June 30, 2025 (taking into account the number of shares that the reporting person had the right to acquire based on the options and restricted shares that shall have become vested within 60 days after June 30, 2025). Each Class A ordinary share is entitled to one vote per share and each Class B ordinary share is entitled to ten votes per share on all matters submitted to the shareholders for a vote. 3. As of June 30, 2025, Melissa Ma, Robin Yanhong Li's wife, was the record holder of 3,732,240 Class A ordinary shares and 85,040,000 Class B ordinary shares, and also owned 46,719 ADSs in the brokerage account of the administrator of the Issuer's employee stock option program. Robin Yanhong Li may be deemed to share beneficial ownership of the shares owned by Melissa Ma. Mr. Li expressly disclaims such beneficial ownership of the shares beneficially owned by Ms. Ma.


SCHEDULE 13G




Comment for Type of Reporting Person:   1. The 448,857,368 ordinay shares beneficially owned with sole voting power include (i) 439,200,000 Class B ordinary shares held on record by Handsome Reward Limited, (ii) 7,399,504 Class A ordinary shares in the form of ADSs held by Handsome Reward Limited in the brokerage account of the administrator of the Issuer's employee stock option program, (iii) 1,404,960 Class A ordinary shares issuable upon exercise of options within 60 days after June 30, 2025, and (iv) 852,904 Class A ordinary shares issuable upon vesting of restricted shares within 60 days after June 30, 2025. 2. The voting power of the ordinary shares beneficially owned represent 59.3% of the total outstanding voting power of the Issuer. The percentage of voting power is calculated by dividing the voting power beneficially owned by the reporting person by the voting power beneficially owned by all of the Issuer's holders of Class A ordinary shares and Class B ordinary shares as a single class as of June 30, 2025 (taking into account the number of shares that the reporting person had the right to acquire based on the options and restricted shares that shall have become vested within 60 days after June 30, 2025). Each Class A ordinary share is entitled to one vote per share and each Class B ordinary share is entitled to ten votes per share on all matters submitted to the shareholders for a vote.


SCHEDULE 13G



 
Robin Yanhong Li
 
Signature:/s/ Robin Yanhong Li
Name/Title:Robin Yanhong Li
Date:08/14/2025
 
Handsome Reward Limited
 
Signature:/s/ Robin Yanhong Li
Name/Title:Director
Date:08/14/2025