Liu Zhixin 4
4 · Datasea Intelligent Technology Ltd. · Filed Jun 3, 2026
Research Summary
AI-generated summary of this filing
Datasea (DTSS) 10% Owner Liu Zhixin Receives Awards, Converts Shares
What Happened
Liu Zhixin, a 10% owner of Datasea Intelligent Technology Ltd. (DTSS), received multiple stock awards and experienced a conversion of prior Datasea shares into Issuer ordinary shares tied to a merger. Across grants from Oct 2025–Apr 2026 she was issued a total of 3,053,458 shares (aggregate reported value ≈ $3,451,231). On April 16, 2026 she recorded a disposition of 2,000,000 Datasea common shares for $1.07/share ($2,140,000) that was simultaneously reported as an acquisition of 2,000,000 Class B ordinary shares at $1.07/share — reflecting the merger conversion.
Key Details
- Main transactions (date / type / qty / price / value):
- 2025-10-17: Award — 45,000 shares @ $1.92 = $86,400 (F1: compensation in lieu of cash)
- 2025-10-17: Award — 15,522 shares @ $1.92 = $29,802 (F2: payment of accrued salary)
- 2025-11-25: Award — 842,936 shares @ $1.27 = $1,070,529 (F3: consideration for IP purchase)
- 2026-01-05: Award — 150,000 shares @ $0.83 = $124,500
- 2026-04-16: Disposition to issuer — 2,000,000 shares @ $1.07 = $2,140,000 (D)
- 2026-04-16: Acquisition (conversion) — 2,000,000 Class B ordinary shares @ $1.07 = $2,140,000 (A) (F4: Merger conversion)
- Total shares acquired (awards + conversion): 3,053,458 shares; total reported value of acquisitions ≈ $3,451,231.
- The April 16, 2026 disposition and acquisition reflect a merger: Datasea merged into the Issuer and certain Datasea common shares converted into Class B ordinary shares (F4).
- Shares owned after the transactions: not specified in the filing.
- Filing timeliness: marked as late (transactionTimeliness = 'L'); Form 4 was filed 2026-06-03 covering transactions beginning 2025-10-17 — investors should note the delayed public reporting.
Context
These entries are largely awards/consideration (compensation, salary payment, and payment for IP) and a structural conversion tied to a merger, not open-market purchases or sales. Awards and conversion due to corporate actions do not necessarily indicate the insider’s market sentiment. As a 10% owner, Liu is a significant shareholder (reporting-level insider) rather than a routine executive open-market trader.
Insider Transaction Report
- Award
Common Stock
[F1]2025-10-17$1.92/sh+45,000$86,400→ 2,274,816 total - Award
Common Stock
[F2]2025-10-17$1.92/sh+15,522$29,802→ 2,290,338 total - Award
Common Stock
[F3]2025-11-25$1.27/sh+842,936$1,070,529→ 3,133,274 total - Award
Common Stock
[F1]2026-01-05$0.83/sh+150,000$124,500→ 3,283,274 total - Disposition to Issuer
Common Stock/Class A Ordinary Share
[F4]2026-04-16$1.07/sh−2,000,000$2,140,000→ 1,283,274 total - Award
Class B Ordinary Share
[F4]2026-04-16$1.07/sh+2,000,000$2,140,000→ 2,000,000 total
Footnotes (4)
- [F1]The Reporting Person was issued shares of the common stock, par value $0.001 per share (the "Common Stock") of Datasea Inc. ("Datasea"), the predecessor of the Issuer, as compensation in lieu of cash.
- [F2]The Reporting Person was issued shares of the Common Stock of Datasea as payment of accrued and unpaid salary.
- [F3]On November 20, 2025, Datasea entered into an intellectual property purchase agreement with Ms. Zhixin Liu, pursuant to which Ms. Zhixin Liu transferred to the Company three intangible assets (software copyrights). Datasea decided to grant Ms. Zhixin Liu 842,936 shares of restricted Common Stock as consideration for such purchase.
- [F4]Effective on April 16, 2026, Datasea merged with and into the Issuer, with the Issuer as the surviving company. Upon the merger, 2,000,000 shares of the Common Stock held by the Reporting Person were converted into 2,000,000 class B ordinary shares, with no par value, of the Issuer (the "Class B Ordinary Shares"). The remaining Common Stock held by the Reporting Person were converted into an equal number of the class A ordinary shares, with no par value, of the Issuer (the "Class A Ordinary Shares").