SCHEDULE: Wang Anquan Boosts Webull Corp Stake to 18.1%

Wang Anquan has increased beneficial ownership of Webull Corp's Class A ordinary shares to 18.1%, consolidating significant voting and disposal power.

Summary

• Wang Anquan has reported an increase in beneficial ownership of Webull Corp's Class A ordinary shares, now holding 18.1% of the class.
• This ownership includes directly held shares, shares held by related entities, shares issuable upon conversion of Class B shares, and shares subject to a proxy agreement.
• The total number of shares beneficially owned is 97,916,398.00.
• The filing details the breakdown of these holdings, including shares held by Water Castle Az Inc. and Webull Partners Limited, and restricted share units.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this filing as moderately positive, indicating significant beneficial ownership and control by a key individual, which can signal stability and strategic alignment, though it also highlights concentrated ownership.

Positives

• Significant increase in beneficial ownership by Wang Anquan to 18.1%, indicating strong conviction and control.
• Consolidation of voting power through direct holdings, Class B share conversions, and proxy agreements.
• Detailed disclosure of share breakdown, providing transparency on the nature of beneficial ownership.

Negatives

• Concentrated ownership by a single individual could potentially limit liquidity or introduce governance risks if not managed appropriately.
• Reliance on Class B share conversions and restricted share units for a substantial portion of the reported ownership.

Risks

• The proxy agreement for 10,060,843 Class A ordinary shares introduces a layer of complexity and potential future disputes.
• Concentration of voting power could lead to potential conflicts of interest or entrenchment issues.

Future Outlook

The filing does not contain specific forward-looking statements or guidance. However, the increase in beneficial ownership by Wang Anquan suggests a continued commitment and strategic interest in Webull Corp.

Management Comments

• The reported amount includes (i) 25,200,000 Class A ordinary shares, (ii) 2,136,394 Class A ordinary shares held of record by Webull Partners Limited, (iii) 58,859,005 Class A ordinary shares issuable upon conversion of an equivalent number of Class B ordinary shares, (iv) 1,660,156 Class A ordinary shares issuable upon conversion of an equivalent number of Class B ordinary shares, which are issuable upon the settlement of 1,660,156 restricted share units that have vested and are scheduled to vest within 60 days of September 30, 2026, and (v) 10,060,843 Class A ordinary shares subject to the Proxy Agreement.
• The filing of this Statement shall not be deemed an admission by the Reporting Person of beneficial ownership of any of the reported securities for purposes of Section 13(d) or Section 13(g) or for any other purpose.

Industry Context

StockSavvy.ai notes that significant increases in beneficial ownership by key individuals, as reported in Schedule 13G filings, are common in the technology and financial services sectors. This often signals strong confidence from insiders and can influence market perception regarding the company's stability and strategic direction.

Related Party Transactions

• The proxy agreement dated August 15, 2025, by and between Wang Anquan and certain shareholders of the issuer, grants Wang Anquan voting control over 10,060,843 Class A ordinary shares.

Stakeholder Impact

• Shareholders: Increased concentration of voting power may affect shareholder influence and decision-making dynamics.
• Management: Signals strong internal confidence and potentially a more unified strategic direction led by Wang Anquan.

Next Steps

• Continued monitoring of Wang Anquan's beneficial ownership and voting power.
• Observation of any further disclosures related to the proxy agreement or share conversions.

Key Dates

Keywords

Webull Corp, Wang Anquan, Schedule 13G, Beneficial Ownership, Class A Ordinary Shares, Class B Ordinary Shares, Voting Power, Proxy Agreement