Hong Zhifang 4

What Happened
Hong Zhifang, a reported 10% owner of DarkIris Inc. (DKI), purchased 1,428,571 Class B ordinary shares in a private placement that closed on April 24, 2026. The shares were acquired at $0.35 per share for a total cash outlay of $500,000. This was a purchase (not a sale), which is generally more informative about an insider adding to holdings than routine sales.

Key Details

• Transaction date: 2026-04-24 (private placement)
• Price: $0.35 per share; total value $500,000
• Shares acquired: 1,428,571 Class B ordinary shares
• Shares owned after transaction: not specified in the provided filing summary
• Footnote: Each Class B ordinary share is convertible into one Class A ordinary share at the election of the holder (per filing footnote F1)
• Filing timing: Form 4 was filed on 2026-04-28; this appears to be timely (filed within the required reporting window)

Context
This was a private placement purchase by a 10% owner (institutional/large holder status, not necessarily an executive). Class B shares are convertible into Class A shares at the holder's election, which may affect future voting/transferability if converted. Purchases in private placements can reflect an insider choosing to increase exposure but do not, by themselves, indicate the insider's motives.