Chu Kai 4

What Happened

• Chu Kai, a director of ZW Data Action Technologies, acquired a total of 254,606 shares in two transactions: a purchase of 89,606 shares at $3.00 per share (aggregate $268,818) and a board award of 165,000 shares granted as compensation with no cash paid. The purchase was made through Marvel Investment Limited, a BVI entity owned and controlled by Chu Kai.

Key Details

• Transaction dates and terms:
  • 2025-06-10: Acquisition of 89,606 shares via Securities Purchase Agreement at $3.00/share (total $268,818). (Footnote: SPA dated Sept 25, 2024; consummated in P.R. China on 2025-06-10.)
  • 2026-04-22: Award of 165,000 shares as compensation by the Board; no consideration paid.
• Shares owned after the transactions: Not specified in the Form 4 filing.
• Filing: Form 4 was filed on 2026-05-05, well after both transaction dates (Form 4s are normally due within 2 business days), so these reports were submitted late.
• Reporting codes: Both entries are reported as "A" (award/grant/other acquisition) on the form; the 89,606-share entry reflects a purchase via the reporting person's affiliated entity.

Context

• The 165,000-share item is a compensation award from the Board and does not by itself indicate buying or selling sentiment in the market.
• The 89,606-share acquisition was a purchase executed through an entity owned and controlled by Chu Kai, which is effectively a buy by someone closely affiliated with the insider.
• Late reporting can reduce the timeliness value of insider signals; however, the transaction specifics (price and award size) are disclosed for investors to evaluate.