Yao Junhong 4
4 · DSC Holdings Ltd. · Filed Jun 29, 2026
Research Summary
AI-generated summary of this filing
DSC Holdings (DSC) CEO Yao Junhong Converts Derivatives into Shares
What Happened
Yao Junhong, CEO of DSC Holdings Ltd., was involved in a series of non‑cash corporate reclassifications on June 26, 2026. The filing shows multiple conversions of derivative securities (Form 4 code C) into ordinary shares — individual conversion amounts include 108,466,752; 96,088,171; 44,094,200; 43,635,180; 17,267,771; and 1,139,559 shares, totaling approximately 310,691,633 shares. Several matching “other acquisition or disposition” entries (code J) show redesignations of 108,330,350 and 1,500,000 shares. All transactions list a $0.00 price — no cash changed hands. These entries appear to reflect IPO-related conversions/redesignations of prior equity/derivative positions, not open‑market buys or sales.
Key Details
- Transaction date: June 26, 2026; Form 4 filed June 29, 2026 (filed timely).
- Price: $0.00 for all reported transactions; reported total cash value $0.
- Conversion line items (selected): 108,466,752; 96,088,171; 44,094,200; 43,635,180; 17,267,771; 1,139,559 (sum ≈ 310,691,633).
- Other reclassifications (code J): 108,330,350 and 1,500,000 shares (appear paired as redesignations).
- Shares owned after the transactions: not provided in the details you supplied.
- Footnotes: F1–F4 explain that, immediately prior to the IPO, various ordinary and preferred share series were converted or redesignated into Class A or Class B ordinary shares — consistent with the zero‑dollar conversions reported.
Context
- Code C (conversion of derivative security) typically means preferred shares, convertible securities, or similar instruments were converted into ordinary shares; code J denotes other non‑market acquisitions/dispositions such as redesignations.
- Zero‑dollar conversions and redesignations are common around IPOs and corporate restructurings; they are administrative/capital‑structure events rather than market purchases or sales.
- These entries don’t necessarily indicate CEO buying or selling for personal trading reasons — they document corporate conversion/redesignation activity tied to the company’s IPO.
Insider Transaction Report
- Other
Ordinary shares
[F1]2026-06-26−108,330,350→ 0 total(indirect: Held by Binary Sky Limited) - Other
Class B ordinary shares
[F1]2026-06-26+108,330,350→ 108,330,350 total(indirect: Held by Binary Sky Limited) - Conversion
Class B ordinary shares
2026-06-26+1,139,559→ 109,469,909 total(indirect: Held by Binary Sky Limited) - Conversion
Class B ordinary shares
2026-06-26+108,466,752→ 108,466,752 total(indirect: Held by Cheche Group Limited) - Conversion
Class B ordinary shares
2026-06-26+96,088,171→ 204,554,923 total(indirect: Held by Cheche Group Limited) - Conversion
Class B ordinary shares
2026-06-26+17,267,771→ 221,822,694 total(indirect: Held by Cheche Group Limited) - Other
Ordinary shares
[F2]2026-06-26−1,500,000→ 0 total(indirect: Held by Crystal Gem Holdings Limited) - Other
Class A ordinary shares
[F2]2026-06-26+1,500,000→ 1,500,000 total(indirect: Held by Crystal Gem Holdings Limited) - Conversion
Class A ordinary shares
2026-06-26+44,094,200→ 45,594,200 total(indirect: Held by Crystal Gem Holdings Limited) - Conversion
Class A ordinary shares
2026-06-26+43,635,180→ 89,229,380 total(indirect: Held by Crystal Gem Holdings Limited) - Conversion
Series D-1 preferred shares
[F3]2026-06-26−44,094,200→ 0 total(indirect: Held by Crystal Gem Holdings Limited)Exercise: $0.00→ Class A ordinary shares (44,094,200 underlying) - Conversion
Series E-1 preferred shares
[F4]2026-06-26−108,466,752→ 0 total(indirect: Held by Cheche Group Limited)Exercise: $0.00→ Class B ordinary shares (108,466,752 underlying) - Conversion
Series E-2 preferred shares
[F4]2026-06-26−96,088,171→ 0 total(indirect: Held by Cheche Group Limited)Exercise: $0.00→ Class B ordinary shares (96,088,171 underlying) - Conversion
Series E-2 preferred shares
[F3]2026-06-26−43,635,180→ 0 total(indirect: Held by Crystal Gem Holdings Limited)Exercise: $0.00→ Class A ordinary shares (43,635,180 underlying) - Conversion
Series E-3 preferred shares
[F4]2026-06-26−17,267,771→ 0 total(indirect: Held by Cheche Group Limited)Exercise: $0.00→ Class B ordinary shares (17,267,771 underlying) - Conversion
Series F preferred shares
[F4]2026-06-26−1,139,559→ 0 total(indirect: Held by Binary Sky Limited)Exercise: $0.00→ Class B ordinary shares (1,139,559 underlying)
Footnotes (4)
- [F1]Immediately prior to the completion of the Issuer's initial public offering, each ordinary share was redesignated as Class B ordinary shares on a one-for-one basis.
- [F2]Immediately prior to the completion of the Issuer's initial public offering, each ordinary share was redesignated as Class A ordinary shares on a one-for-one basis.
- [F3]Immediately prior to the completion of the Issuer's initial public offering, such Series D-1 and Series E-2 preferred shares were converted and redesignated as Class A ordinary shares.
- [F4]Immediately prior to the completion of the Issuer's initial public offering, such Series E-1, Series E-2, Series E-3 and Series F preferred shares were converted and redesignated as Class B ordinary shares.