SCHEDULE 13D/A 0001104659-19-074019 0001768213 XXXXXXXX LIVE 4 Each ADS represents six Class A ordinary shares, par value US$0.0001 per share Class A ordinary shares, par value US$0.0001 per share 09/04/2025 false 0001725033 98372W103 X Financial

7-8F,BLOCK A,AEROSPACE SCIENCE&TECH PLZ NO. 168 HAIDE THIRD AVENUE, NANSHAN DIST SHENZHEN F4 518067

Yue Tang 86-0755-86282977 7-8F,BLOCK A,AEROSPACE SCIENCE&TECH PLZ NO. 168 HAIDE THIRD AVENUE, NANSHAN DIST SHENZHEN F4 518067 0001768213 N Mangrove Coast Investment Limited OO N D8 97600000.00 0.00 97600000.00 0.00 97600000.00 N 39.79 CO (1) Represents 97,600,000 Class B ordinary shares held by Mangrove Coast Investment Limited, a British Virgin Islands company. Mangrove Coast Investment Limited is wholly owned by Mangrove Coast Trust, of which Mr. Yue Tang and his family members are the beneficiaries. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis. Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. 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 twenty votes per share on all matters submitted to them for vote. (2) Calculated based on 245,300,795 ordinary shares issued and outstanding as of June 30, 2025, being the sum of (i) 147,700,795 Class A ordinary shares and (ii) 97,600,000 Class B ordinary shares, assuming conversion of all Class B ordinary shares into Class A ordinary share on a one-for-one basis. Y Rhone Trustees (Bahamas) Ltd. as trustee of the Mangrove Coast Trust OO N C5 97600000.00 0.00 97600000.00 0.00 97600000.00 N 39.79 OO (1) Represents 97,600,000 Class B ordinary shares held by Mangrove Coast Investment Limited, a British Virgin Islands company. Mangrove Coast Investment Limited is wholly owned by Mangrove Coast Trust, of which Mr. Yue Tang and his family members are the beneficiaries. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis. Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. 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 twenty votes per share on all matters submitted to them for vote. (2) Calculated based on 245,300,795 ordinary shares issued and outstanding as of June 30, 2025, being the sum of (i) 147,700,795 Class A ordinary shares and (ii) 97,600,000 Class B ordinary shares, assuming conversion of all Class B ordinary shares into Class A ordinary share on a one-for-one basis. Y Purple Mountain Holding Ltd. AF N D8 4068241.00 0.00 4068241.00 0.00 4068241.00 N 1.66 CO (1) Represents 1,548,714 Class A ordinary shares in the form of 258,119 ADSs and 2,519,527 Class A ordinary shares held by Purple Mountain Holding Ltd., a British Virgin Islands company. Purple Mountain Holding Ltd. is wholly owned by Mr. Yue Tang. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis. Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. 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 twenty votes per share on all matters submitted to them for vote. (2) Calculated based on 245,300,795 ordinary shares issued and outstanding as of June 30, 2025, being the sum of (i) 147,700,795 Class A ordinary shares and (ii) 97,600,000 Class B ordinary shares, assuming conversion of all Class B ordinary shares into Class A ordinary share on a one-for-one basis. Y Yue Tang OO N O1 112219666.00 0.00 112219666.00 0.00 112219666.00 N 45.75 IN (1) Represents (i) 4,647,780 Class A ordinary shares in form of 774,630 ADS and 5,903,645 Class A ordinary shares held by Yue Tang, (ii) 1,548,714 Class A ordinary shares in the form of 258,119 ADSs and 2,519,527 Class A ordinary shares held by Purple Mountain Holding Ltd., a British Virgin Islands company, and (iii) 97,600,000 Class B ordinary shares held by Mangrove Coast Investment Limited, a British Virgin Islands company. Purple Mountain Holding Ltd. is wholly owned by Mr. Yue Tang. Mangrove Coast Investment Limited is wholly owned by Mangrove Coast Trust, of which Mr. Yue Tang and his family members are the beneficiaries. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis. Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. 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 twenty votes per share on all matters submitted to them for vote. (2) Calculated based on 245,300,795 ordinary shares issued and outstanding as of June 30, 2025, being the sum of (i) 147,700,795 Class A ordinary shares and (ii) 97,600,000 Class B ordinary shares, assuming conversion of all Class B ordinary shares into Class A ordinary share on a one-for-one basis. Each ADS represents six Class A ordinary shares, par value US$0.0001 per share Class A ordinary shares, par value US$0.0001 per share X Financial 7-8F,BLOCK A,AEROSPACE SCIENCE&TECH PLZ NO. 168 HAIDE THIRD AVENUE, NANSHAN DIST SHENZHEN F4 518067 During the window period in September 2025, Mr. Yue Tang acquired 2,100,000 Class A ordinary shares from another shareholder in a private transaction at a price of approximately $2.53 per share (equivalent to approximately US$15.15 per American Depositary Share, or "ADS"). The information furnished in Item 3 is hereby incorporated into this Item 4 by reference. The Reporting Persons acquired the Class A ordinary shares of the Issuer reported herein for investment purposes. Although the Reporting Persons have no present intention to acquire additional securities of the Issuer, the Reporting Persons intend to review the investment on a regular basis and, as a result thereof and subject to applicable laws and regulations, may at any time or from time to time determine, either alone or as part of a group, (i) to acquire additional securities of the Company, through open market purchases, privately negotiated transactions or otherwise, (ii) to dispose of all or a portion of the securities of the Company owned by the Reporting Persons in the open market, in privately negotiated transactions or otherwise, or (iii) to take any other available course of action, which could involve one or more of the types of transactions or have one or more of the results described in the next paragraph of this Item 4. Any such acquisition or disposition or other transaction would be made in compliance with all applicable laws and regulations. Notwithstanding anything contained herein, the Reporting Persons specifically reserve the right to change their intention with respect to any or all of such matters. In reaching any decision as to a course of action (as well as to the specific elements thereof), the Reporting Persons currently expect to take into consideration a variety of factors, including, but not limited to, the following: the Issuer's business and prospects; other developments concerning the Issuer and its businesses generally; other business opportunities available to the Reporting Persons; changes in law and government regulations; general economic conditions; and money and stock market conditions, including the market price of the securities of the Issuer. The responses in items (7) through (13) of the cover pages of this Schedule 13D are hereby incorporated into this Item 5 by reference. The responses in items (7) through (13) of the cover pages of this Schedule 13D are hereby incorporated into this Item 5 by reference. The Reporting Persons have not effected any transaction in the Class A ordinary shares of the Issuer during the past 60 days, except as otherwise disclosed in this Schedule 13D. Mangrove Coast Investment Limited /s/ Yue Tang 09/04/2025 Rhone Trustees (Bahamas) Ltd. as trustee of the Mangrove Coast Trust /s/ Keisha Cleare 09/04/2025 /s/ Camryn Bonamy 09/04/2025 Purple Mountain Holding Ltd. /s/ Yue Tang 09/04/2025 Yue Tang /s/ Yue Tang 09/04/2025