0001193125-19-025510.txt : 20190201 0001193125-19-025510.hdr.sgml : 20190201 20190201130234 ACCESSION NUMBER: 0001193125-19-025510 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20190201 DATE AS OF CHANGE: 20190201 GROUP MEMBERS: SHUNWEI CAPITAL PARTNERS GP LTD GROUP MEMBERS: SHUNWEI CAPITAL PARTNERS GP, L.P. GROUP MEMBERS: SHUNWEI TECHNOLOGY LTD GROUP MEMBERS: TUCK LYE KOH SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: China Online Education Group CENTRAL INDEX KEY: 0001659494 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-89546 FILM NUMBER: 19558829 BUSINESS ADDRESS: STREET 1: 6TH FLOOR DESHI BUILDING SOUTH STREET 2: SHANGDI STREET, HAIDIAN DISTRICT CITY: BEIJING STATE: F4 ZIP: 100085 BUSINESS PHONE: 8610-56928909 MAIL ADDRESS: STREET 1: 6TH FLOOR DESHI BUILDING SOUTH STREET 2: SHANGDI STREET, HAIDIAN DISTRICT CITY: BEIJING STATE: F4 ZIP: 100085 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Shunwei China Internet Fund, L.P. CENTRAL INDEX KEY: 0001528227 IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: WALKER HOUSE, 87 MARY STREET STREET 2: GEORGE TOWN CITY: GRAND CAYMAN STATE: E9 ZIP: KY1-9005 BUSINESS PHONE: 861085221230 MAIL ADDRESS: STREET 1: WALKER HOUSE, 87 MARY STREET STREET 2: GEORGE TOWN CITY: GRAND CAYMAN STATE: E9 ZIP: KY1-9005 SC 13G 1 d671018dsc13g.htm SCHEDULE 13G SCHEDULE 13G

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

(Rule 13d-102)

Information to Be Included in Statements Filed Pursuant to Rules 13d-1 (b), (c) and (d) and

Amendments Thereto Filed Pursuant To 13d-2

Under the Securities Exchange Act of 1934

 

 

China Online Education Group

(Name of Issuer)

Class A ordinary shares, par value of $0.0001 per share

(Title of Class of Securities)

16954L 105

(CUSIP Number)

December 31, 2018

(Date of Event Which Requires Filing of this Statement)

 

 

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

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

☒ Rule 13d-1(d)

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


  1   

Names of Reporting Persons

 

Shunwei Technology Limited

  2    

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☐

 

  3    

SEC Use Only

 

  4    

Citizenship or Place of Organization

 

British Virgin Islands

Number of 

Shares

Beneficially 

Owned by 

Each

Reporting 

Person

With:

    5    

Sole Voting Power

 

37,329,473(1) See Item 4.

    6    

Shared Voting Power

 

0

    7    

Sole Dispositive Power

 

37,329,473(1) See Item 4.

    8    

Shared Dispositive Power

 

0

  9    

Aggregate Amount Beneficially Owned by Each Reporting Person

 

37,329,473(1) See Item 4.

10    

Check if the Aggregate Amount in Row (9) Excludes Certain Shares  ☐

 

11    

Percent of Class Represented by Amount in Row (9)

 

12.3%. The voting power of the shares beneficially owned represents 16.0%(2) of the total outstanding voting power. See Item 4.

12    

Type of Reporting Person

 

CO

 

(1)

Represents 37,329,473 Class B ordinary shares held by Shunwei Technology Limited, a company incorporated under the laws of British Virgin Islands.

(2)

The percentage of voting power is calculated by dividing the voting power beneficially owned by the Reporting Person by the voting power of all of the Issuer’s Class A ordinary shares and Class B ordinary shares as a single class. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to ten votes per share on all matters submitted to them for a vote. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis.

 

2


  1   

Names of Reporting Persons

 

Shunwei China Internet Fund, L.P.

  2    

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☐

 

  3    

SEC Use Only

 

  4    

Citizenship or Place of Organization

 

Cayman Islands

Number of 

Shares

Beneficially 

Owned by 

Each

Reporting 

Person

With:

    5    

Sole Voting Power

 

37,329,473(3) See Item 4.

    6    

Shared Voting Power

 

0

    7    

Sole Dispositive Power

 

37,329,473(3) See Item 4.

    8    

Shared Dispositive Power

 

0

  9    

Aggregate Amount Beneficially Owned by Each Reporting Person

 

37,329,473(3) See Item 4.

  10    

Check if the Aggregate Amount in Row (9) Excludes Certain Shares  ☐

 

  11    

Percent of Class Represented by Amount in Row (9)

 

12.3%. The voting power of the shares beneficially owned represents 16.0%(4) of the total outstanding voting power. See Item 4.

  12    

Type of Reporting Person

 

PN

 

(3)

Represents 37,329,473 Class B ordinary shares held by Shunwei Technology Limited, a company incorporated under the laws of British Virgin Islands. Shunwei Technology Limited is wholly owned by Shunwei China Internet Fund, L.P.

(4)

The percentage of voting power is calculated by dividing the voting power beneficially owned by the Reporting Person by the voting power of all of the Issuer’s Class A ordinary shares and Class B ordinary shares as a single class. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to ten votes per share on all matters submitted to them for a vote. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis.

 

3


  1   

Names of Reporting Persons

 

Shunwei Capital Partners GP, L.P.

  2    

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☐

 

  3    

SEC Use Only

 

  4    

Citizenship or Place of Organization

 

Cayman Islands

Number of 

Shares

Beneficially 

Owned by 

Each

Reporting 

Person

With:

    5    

Sole Voting Power

 

37,329,473(5) See Item 4.

    6    

Shared Voting Power

 

0

    7    

Sole Dispositive Power

 

37,329,473(5) See Item 4.

    8    

Shared Dispositive Power

 

0

  9    

Aggregate Amount Beneficially Owned by Each Reporting Person

 

37,329,473(5) See Item 4.

10    

Check if the Aggregate Amount in Row (9) Excludes Certain Shares  ☐

 

11    

Percent of Class Represented by Amount in Row (9)

 

12.3%. The voting power of the shares beneficially owned represents 16.0%(6) of the total outstanding voting power. See Item 4.

12    

Type of Reporting Person

 

PN

 

(5)

Represents 37,329,473 Class B ordinary shares held by Shunwei Technology Limited, a company incorporated under the laws of British Virgin Islands. Shunwei Technology Limited is wholly owned by Shunwei China Internet Fund, L.P., whose general partner is Shunwei Capital Partners GP, L.P.

(6)

The percentage of voting power is calculated by dividing the voting power beneficially owned by the Reporting Person by the voting power of all of the Issuer’s Class A ordinary shares and Class B ordinary shares as a single class. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to ten votes per share on all matters submitted to them for a vote. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis.

 

4


  1   

Names of Reporting Persons

 

Shunwei Capital Partners GP Limited

  2    

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☐

 

  3    

SEC Use Only

 

  4    

Citizenship or Place of Organization

 

Cayman Islands

Number of 

Shares

Beneficially 

Owned by 

Each

Reporting 

Person With:

    5    

Sole Voting Power

 

37,329,473(7) See Item 4.

    6    

Shared Voting Power

 

0

    7    

Sole Dispositive Power

 

37,329,473(7) See Item 4.

    8    

Shared Dispositive Power

 

0

  9    

Aggregate Amount Beneficially Owned by Each Reporting Person

 

37,329,473(7) See Item 4.

10    

Check if the Aggregate Amount in Row (9) Excludes Certain Shares  ☐

 

11    

Percent of Class Represented by Amount in Row (9)

 

12.3%. The voting power of the shares beneficially owned represents 16.0%(8) of the total outstanding voting power. See Item 4.

12    

Type of Reporting Person

 

CO

 

(7)

Represents 37,329,473 Class B ordinary shares held by Shunwei Technology Limited, a company incorporated under the laws of British Virgin Islands. Shunwei Technology Limited is wholly owned by Shunwei China Internet Fund, L.P., whose general partner is Shunwei Capital Partners GP, L.P., whose general partner in turn, is Shunwei Capital Partners GP Limited.

(8)

The percentage of voting power is calculated by dividing the voting power beneficially owned by the Reporting Person by the voting power of all of the Issuer’s Class A ordinary shares and Class B ordinary shares as a single class. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to ten votes per share on all matters submitted to them for a vote. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis

 

5


  1   

Names of Reporting Persons

 

Tuck Lye Koh

  2    

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☐

 

  3    

SEC Use Only

 

  4    

Citizenship or Place of Organization

 

Singapore

Number of 

Shares

Beneficially 

Owned by 

Each

Reporting 

Person

With:

    5    

Sole Voting Power

 

37,329,473(9) See Item 4.

    6    

Shared Voting Power

 

0

    7    

Sole Dispositive Power

 

37,329,473(9) See Item 4.

    8    

Shared Dispositive Power

 

0

  9    

Aggregate Amount Beneficially Owned by Each Reporting Person

 

37,329,473(9) See Item 4.

10    

Check if the Aggregate Amount in Row (9) Excludes Certain Shares  ☐

 

11    

Percent of Class Represented by Amount in Row (9)

 

12.3%. The voting power of the shares beneficially owned represents 16.0%(10) of the total outstanding voting power. See Item 4.

12    

Type of Reporting Person

 

IN

 

(9)

Represents 37,329,473 Class B ordinary shares held by Shunwei Technology Limited, a company incorporated under the laws of British Virgin Islands. Shunwei Technology Limited is wholly owned by Shunwei China Internet Fund, L.P., whose general partner is Shunwei Capital Partners GP, L.P., whose general partner in turn, is Shunwei Capital Partners GP Limited. Shunwei Capital Partners GP Limited is controlled by Mr. Tuck Lye Koh.

(10)

The percentage of voting power is calculated by dividing the voting power beneficially owned by the Reporting Person by the voting power of all of the Issuer’s Class A ordinary shares and Class B ordinary shares as a single class. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to ten votes per share on all matters submitted to them for a vote. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis.

 

6


Item 1(a).   

Name of Issuer:

 

China Online Education Group (the “Issuer”)

Item 1(b).   

Address of Issuer’s Principal Executive Offices:

 

6th Floor Deshi Building North,

Shangdi Street, Haidian District

Beijing 100085, People’s Republic of China

Item 2(a).   

Name of Person Filing:

 

i.   Shunwei Technology Limited;

ii.  Shunwei China Internet Fund, L.P.;

iii.   Shunwei Capital Partners GP, L.P.;

iv.   Shunwei Capital Partners GP Limited; and

v.  Tuck Lye Koh (collectively, the “Reporting Persons”).

Item 2(b).   

Address of Principal Business Office, or, if none, Residence:

 

For Shunwei Technology Limited
Vistra Corporate Services Center,

Wickhams Cay II, Road Town, Tortola, VG 1110,
British Virgin Islands

 

For Shunwei China Internet Fund, L.P.
Walker House

87 Mary Street

George Town, Grand Cayman KY1-9005

Cayman Islands

 

Shunwei Capital Partners GP, L.P.

Walker House

87 Mary Street

George Town, Grand Cayman KY1-9005

Cayman Islands

 

For Shunwei Capital Partners GP Limited

Walker House

87 Mary Street

George Town, Grand Cayman KY1-9005

Cayman Islands

 

For Mr. Tuck Lye Koh

32D Watten Rise, Singapore 286651

Item 2(c).   

Citizenship:

 

Shunwei Technology Limited – British Virgin Islands

Shunwei China Internet Fund, L.P. – Cayman Islands

Shunwei Capital Partners GP Limited – Cayman Islands

Tuck Lye Koh – Singapore

Item 2(d).   

Title of Class of Securities:

 

Class A ordinary shares, par value of $0.0001 per share. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis.

Item 2(e).   

CUSIP No.:

 

16954L 105

Item 3.   

If this statement is filed pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), check whether the persons filing is a:

 

   Not applicable

 

7


Item 4.    Ownership
The following information with respect to the ownership of the ordinary shares, par value of $0.0001 per share, of the Issuer by each of the Reporting Persons is provided as of December 31, 2018:

 

Reporting Person

   Amount
beneficially
owned:
     Percent of
class:
    Sole power to
vote or direct
the vote:
     Shared
power to
vote or to
direct the
vote:
     Sole power to
dispose or to
direct the
disposition
of:
     Shared power to
dispose or to
direct the
disposition of:
     Percentage
of aggregate
voting
power
 

Shunwei Technology Limited

     37,329,473        12.3     37,329,473        —          37,329,473        —          16.0

Shunwei China Internet Fund, L.P.

     37,329,473        12.3     37,329,473        —          37,329,473        —          16.0

Shunwei Capital Partners GP, L.P.

     37,329,473        12.3     37,329,473        —          37,329,473        —          16.0

Shunwei Capital Partners GP Limited

     37,329,473        12.3     37,329,473        —          37,329,473        —          16.0

Tuck Lye Koh

     37,329,473        12.3     37,329,473        —          37,329,473        —          16.0

As of December 31, 2018, 37,329,473 Class B ordinary shares were directly held by Shunwei Technology Limited, a company incorporated under the laws of British Virgin Islands. Shunwei Technology Limited is wholly owned by Shunwei China Internet Fund, L.P., whose general partner is Shunwei Capital Partners GP, L.P., whose general partner in turn, is Shunwei Capital Partners GP Limited. Shunwei Capital Partners GP Limited is controlled by Mr. Tuck Lye Koh.

The percentage of the class of securities beneficially owned by each Reporting Person is based on 302,843,634 ordinary shares outstanding as of February 28, 2018, comprising of 77,250,233 Class A ordinary shares (excluding 4,292,010 Class A ordinary reserved for future issuances upon the exercising or vesting of awards granted under the Issuer’s share incentive plan) and 225,593,401 Class B ordinary shares.

The percentage of voting power is calculated by dividing the voting power beneficially owned by the Reporting Person by the voting power of all of the Issuer’s Class A ordinary shares and Class B ordinary shares as a single class. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to ten votes per share on all matters submitted to them for a vote. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis.

 

Item 5.    Ownership of Five Percent or Less of a Class

Not applicable

Item 6.    Ownership of More than Five Percent on Behalf of Another Person

Not applicable

Item 7.    Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person

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.    Certifications

Not applicable

 

8


LIST OF EXHIBITS

Exhibit 99.1 — Joint Filing Agreement

 

9


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.

[Signature Page to Schedule 13G]

 

Dated: February 1, 2019      
Shunwei Technology Limited     By:  

/s/ Tuck Lye Koh

    Name:   Tuck Lye Koh
    Title:   Director
Shunwei China Internet Fund, L.P.     By:  

/s/ Tuck Lye Koh

    Name:   Tuck Lye Koh
    Title:   Director
Shunwei Capital Partners GP, L.P.     By:  

/s/ Tuck Lye Koh

    Name:   Tuck Lye Koh
    Title:   Director
Shunwei Capital Partners GP Limited     By:  

/s/ Tuck Lye Koh

    Name:   Tuck Lye Koh
    Title:   Director
Tuck Lye Koh      

/s/ Tuck Lye Koh

 

10

EX-99.1 2 d671018dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13G referred to below) on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to the shares of Class A ordinary shares, par value of $0.0001 per share, of China Online Education Group, a Cayman Islands company, and that this Agreement may be included as an Exhibit to such joint filing. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of February 1, 2019.

[Signature Page to Joint Filing Agreement]

 

Dated: February 1, 2019      
Shunwei Technology Limited     By:  

/s/ Tuck Lye Koh

    Name:   Tuck Lye Koh
    Title:   Director
Shunwei China Internet Fund, L.P.     By:  

/s/ Tuck Lye Koh

    Name:   Tuck Lye Koh
    Title:   Director
Shunwei Capital Partners GP, L.P.     By:  

/s/ Tuck Lye Koh

    Name:   Tuck Lye Koh
    Title:   Director
Shunwei Capital Partners GP Limited     By:  

/s/ Tuck Lye Koh

    Name:   Tuck Lye Koh
    Title:   Director
Tuck Lye Koh      

/s/ Tuck Lye Koh

 

11