Welcome to our dedicated page for AIFU SEC filings (Ticker: AIFU), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
AIFU Inc. filings document the regulatory reporting of a foreign private issuer whose ADSs represent interests in a China-based financial services and insurance agency business. Form 20-F materials cover audited financial statements, business description, risk factors and governance, while Form 6-K reports provide interim results and material-event disclosures.
The filing record includes shareholder meeting notices and results for capital reduction, share consolidation and authorized-share changes involving Class A and Class B ordinary shares. Other 6-K disclosures address material agreements, capital-structure updates, board changes and the disposition and discontinued-operation reporting of the claims adjusting business.
AIFU Inc. disclosed that YS Management Company Limited and its owner, Yif Liu, have filed a Schedule 13D reporting a large ownership position in the company’s Class A ordinary shares. YS Management beneficially owns 96,526,648 Class A shares, representing 78.15% of AIFU’s 123,514,110 ordinary shares outstanding as of January 9, 2026, but only 11.15% of the total voting power due to the company’s high‑vote Class B shares.
These shares were issued to YS Management on January 9, 2026 as consideration for selling its 77% equity interest in Nova Lumina Limited to AIFU as part of a 100% acquisition of Nova. The consideration shares are subject to a five‑year lock‑up from the closing date. Because YS Management is wholly owned by Yif Liu, he may be deemed to share beneficial ownership of the same 96,526,648 Class A shares.
AIFU Inc. shareholders are informed that a major share issuance has significantly diluted one existing holder’s stake. The company issued 102,578,839 Class A ordinary shares to YS Management Company Limited and Ethereal Group Ltd in connection with acquiring 100% of Nova Lumina Limited. Good Silver Limited and its owner, Jamie Zhou, still beneficially own 3,900,000 Class A ordinary shares, but their stake fell from about 18.63% to about 3.16% of AIFU’s ordinary shares as of January 9, 2026. Their aggregate voting power declined from about 0.51% to about 0.45%. They did not buy or sell shares; the change results entirely from the new shares issued. Because of this dilution, they no longer hold more than five percent of the class.
AIFU Inc. received an updated Schedule 13D/A from Expansion Group Ltd, Vanguard First Limited and their owner, Ileana Zhao, explaining how a large new share issuance changed their stake. On January 9, 2026, AIFU issued 102,578,839 Class A ordinary shares to YS Management Company Limited and Ethereal Group Ltd as consideration for acquiring 100% of Nova Lumina Limited. The reporting persons did not buy or sell any shares; their percentage ownership fell because the total shares outstanding increased to 123,514,110 ordinary shares, including 116,014,110 Class A and 7,500,000 Class B shares.
After this dilution, Expansion Group Ltd beneficially owns 5,000,250 shares (250 Class A and 5,000,000 Class B) representing 4.05% of ordinary shares, Vanguard First Limited owns 3,100,000 Class A shares representing 2.51%, and Ileana Zhao is deemed to beneficially own 8,100,250 shares in total, or 6.56% of ordinary shares. Because each Class B share carries 100 votes, Zhao and her entities still control about 58.09% of AIFU’s aggregate voting power, down from 65.90% before the transaction.
Maase Inc. filed Amendment No. 6 to its Schedule 13D on AIFU Inc. to report that its ownership was diluted by a large share issuance by the company. AIFU issued 102,578,839 Class A ordinary shares to YS Management Company Limited and Ethereal Group Ltd in connection with acquiring Nova Lumina Limited. Maase Inc. continues to beneficially own 1,642,774 ordinary shares, consisting of 367,774 Class A shares and 1,275,000 Class B shares. Because the total shares outstanding increased to 123,514,110 ordinary shares as of January 9, 2026, Maase’s ownership fell from about 7.85% to 1.33%, and its voting power decreased from about 16.75% to about 14.77%. As a result, Maase Inc. is no longer a beneficial owner of more than five percent of this class.
Infinew Limited and Katherine Wang filed Amendment No. 3 to a Schedule 13D to report dilution of their ownership in AIFU Inc. after a large share issuance. They continue to beneficially own 1,225,250 ordinary shares in total, made up of 250 Class A ordinary shares and 1,225,000 Class B ordinary shares. As a result of AIFU Inc. issuing 102,578,839 Class A ordinary shares to YS Management Company Limited and Ethereal Group Ltd. in connection with acquiring Nova Lumina Limited, their stake fell from about 5.85% to about 0.99% of the company’s ordinary shares as of January 9, 2026. Their aggregate voting power decreased from about 16.05% to about 14.15%, reflecting the dual‑class structure in which each Class A share carries one vote and each Class B share carries one hundred votes. The reporting persons did not buy or sell any shares; the change is entirely due to the company’s new issuance.
AIFU Inc. has completed its acquisition of Nova Lumina Limited by issuing 102,578,839 Class A ordinary shares at US$1 per share and agreeing to pay US$22.0 million in cash. As of the January 9, 2026 closing, 96,526,648 shares went to YS Management Company Limited and 6,052,191 shares to Ethereal Group Ltd, with the cash portion payable to Ethereal. The shares issued to YS Management are locked up for five years.
After this transaction, AIFU has 123,514,110 ordinary shares outstanding, including 116,014,110 Class A and 7,500,000 Class B shares. YS Management now holds about 78.2% of outstanding shares but only 11.2% of voting power, while Ethereal holds about 4.9% of shares and 0.7% of voting power. The deal adds roughly 4,000 metric tons of premium dark tea inventory, combining 2,130 metric tons of raw materials and 1,870 metric tons of finished products, positioning AIFU to pair its AI-driven financial services with health and wellness related assets.
AIFU Inc. filed an amended current report to correct a clerical error and restate the description of its agreement to acquire 100% of Nova Lumina Limited. The restated disclosure confirms consideration of 102,578,839 Class A ordinary shares and a cash payment of US$22.0 million, based on a purchase price of US$1.0 per share.
Of these shares, 96,526,648 will be issued to YS Management Company Limited and 6,052,191 to Ethereal Group Ltd, with YS Management’s shares subject to a five-year lock-up. After a planned issuance of 5,000,000 Class B ordinary shares and the closing expected in January 2026, YS Management is expected to hold about 78.2% of total shares and 11.2% of voting power, while Ethereal would hold 4.9% of shares and 0.7% of voting power. Nova owns roughly 4,000 metric tons of dark tea inventory, which AIFU states is intended to position it in the health and wellness consumer sector.
AIFU Inc. entered into a transaction agreement to acquire 100% of Nova Lumina Limited from its shareholders YS Management Company Limited and Ethereal Group Ltd. The purchase price will be paid through 102,578,839 new Class A ordinary shares and a cash payment of US$22.0 million, based on a share price of US$1.0 per AIFU share. YSM will receive 96,526,648 Class A shares subject to a five-year lock-up, while Ethereal will receive 6,052,191 Class A shares plus the cash payment.
The transaction has been approved by AIFU’s board and is expected to close in January 2026, subject to customary closing conditions. AIFU also expects to complete a new issuance of 5,000,000 Class B ordinary shares on or around December 22, 2025. After both the Class B issuance and the closing, YSM is expected to hold about 78.2% of AIFU’s total issued and outstanding shares, representing about 11.2% of total voting power, and Ethereal about 4.9% of shares with 0.7% of voting power.
Nova’s main assets are a premium tea inventory of roughly 4,000 metric tons, including 2,130 metric tons of dark tea raw materials and 1,870 metric tons of finished dark brick tea. The acquisition is described as positioning AIFU in the high-growth health and wellness consumer sector by adding a tangible asset base with long-term value potential.
AIFU Inc. entered a share subscription agreement to issue 5,000,000 Class B ordinary shares at US$0.4 per share, for total gross proceeds of US$2,000,000. The company plans to use the proceeds for general working capital. Issuance is expected by the end of December 2025, subject to customary closing conditions.
After the issuance, Expansion Group Ltd. will hold 250 Class A and 5,000,000 Class B shares, representing 23.96% of total issued and outstanding ordinary shares and 65.50% of the company’s aggregate voting power.
Class B shares carry 100 votes per share, are convertible into Class A on a one-for-one basis at the holder’s option with approval by two-thirds of the Board, and automatically convert upon specified events (e.g., employment termination or director resignation). Class B shares have no dividend or liquidation rights and are non-transferable, including no pledging as collateral.
AIFU Inc. reported steep year-over-year declines in insurance revenues for the first half of 2025 driven by weaker consumer demand and channel changes. Life insurance net revenues fell to RMB267.9 million (down 67.7% from RMB828.6 million) while total life gross written premium was RMB8,104.1 million with first-year premium of RMB447.3 million (down 62.9%) and renewal premiums rising 3.0% to RMB7,656.8 million. Non-life net revenues were RMB29.6 million (down 59.1%), partly because the December 2024 divestiture of Baowang removed prior revenue contributions. Life gross profit was RMB141.4 million (down 56.3%) with gross margin improving to 52.8% from 39.1%. Non-life gross profit was RMB13.4 million (down 48.7%) with margin rising to 45.5% from 36.0%.