ANL Talent discloses 7.75% Adlai Nortye stake (ANL) in filing details

Rhea-AI Filing Summary

ANL Talent Limited reported beneficial ownership of 9,300,000 ordinary shares of Adlai Nortye Ltd., representing 7.75% of the company’s ordinary shares outstanding as of December 31, 2025. These shares have sole voting and dispositive power attributed to ANL Talent.

The shares are held through a trust structure for the benefit of certain Adlai Nortye employees under the company’s share incentive plan. ANL Talent is ultimately owned by Trident Trust Company (HK) Limited, which acts as trustee and must follow directions or prior written consent from an advisory committee currently comprising an authorized representative of the issuer, namely Xiao Zhang.

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Accepted by SEC EDGAR 01/16/2026 - 07:04 AM Learn about SEC filing dates

FAQ

What stake in Adlai Nortye Ltd. does ANL Talent Limited report holding (ANL)?

ANL Talent Limited reports beneficial ownership of 9,300,000 ordinary shares of Adlai Nortye Ltd., representing 7.75% of the company’s ordinary shares outstanding as of December 31, 2025.

What class of Adlai Nortye (ANL) securities is covered in this Schedule 13G filing?

The filing covers ordinary shares of Adlai Nortye Ltd. with a par value of US$0.0001 per share, identified by CUSIP 00704R109.

Who ultimately controls the Adlai Nortye shares held by ANL Talent Limited?

ANL Talent Limited is ultimately owned by Trident Trust Company (HK) Limited, which serves as trustee. The trustee exercises voting power in accordance with directions and/or prior written consent of an advisory committee that currently includes an authorized representative of Adlai Nortye, Xiao Zhang.

For whose benefit are the Adlai Nortye shares held by ANL Talent Limited?

The 9,300,000 ordinary shares are held in a trust established for the benefit of certain employees of Adlai Nortye Ltd. under the issuer’s share incentive plan.

What voting and dispositive powers does ANL Talent Limited report over Adlai Nortye (ANL) shares?

ANL Talent Limited reports sole voting power over 9,300,000 ordinary shares and sole dispositive power over the same 9,300,000 shares, with no shared voting or dispositive power.

On what share count is the 7.75% ownership of Adlai Nortye based?

The 7.75% ownership figure is calculated based on 120,000,803 ordinary shares of Adlai Nortye Ltd. outstanding as of December 31, 2025, as informed by the issuer.

Who signed the Schedule 13G related to Adlai Nortye Ltd. (ANL)?

The Schedule 13G was signed by Xiao Zhang, acting as Authorized Signatory on behalf of T Proteus Limited as Director, certifying that the information in the statement is true, complete, and correct.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Adlai Nortye Ltd.

(Name of Issuer)

Ordinary shares, par value US$0.0001 per share

(Title of Class of Securities)

00704R109

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 00704R109

1

Names of Reporting Persons

ANL Talent Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 9,300,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 9,300,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,300,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.75 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: (1) Representing 9,300,000 Class A ordinary shares of the Issuer held by ANL Talent Limited, a company incorporated in the British Virgin Islands. ANL Talent Limited is ultimately owned by Trident Trust Company (HK) Limited. Trident Trust Company (HK) Limited acts as the trustee for the benefit of certain employees of the Issuer in the trust, which was founded for the Issuer's share incentive plan. The trust deed between the Issuer and Trident Trust Company (HK) Limited, by which the trust was established, provides that the trustee shall exercise the voting power attached to the ordinary shares held by ANL Talent Limited in the Issuer with the directions and/or prior written consent of the advisory committee established under the trust deed and which currently comprises an authorized representative of the Issuer, namely Mr. Xiao Zhang. (2) This percentage is calculated based on a total of 120,000,803 ordinary shares outstanding of the Issuer as of December 31, 2025 as informed by the Issuer.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Adlai Nortye Ltd.
(b)	Address of issuer's principal executive offices: c/o PO Box 309, Ugland House, Grand Cayman KY1-1104, Cayman Islands
Item 2.
(a)	Name of person filing: ANL Talent Limited
(b)	Address or principal business office or, if none, residence: 19/F, Golden Centre, 188 Des Voeux Road Central, Hong Kong
(c)	Citizenship: British Virgin Islands
(d)	Title of class of securities: Ordinary shares, par value US$0.0001 per share
(e)	CUSIP No.: 00704R109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 of the cover page.
(b)	Percent of class: See Item 11 of the cover page. The calculation is based on a total of 120,000,803 ordinary shares of the Issuer outstanding as of December 31, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 of the cover page.
	(ii) Shared power to vote or to direct the vote: See Item 6 of the cover page.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 of the cover page.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 of the cover page.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

ANL Talent Limited

Signature:	/s/ Xiao Zhang
Name/Title:	Xiao Zhang / Authorized Signatory on behalf of T Proteus Limited as Director
Date:	01/16/2026