BGIN Blockchain Limited reported a significant shareholder position by founder Qingfeng Wu and related entities in a Schedule 13G. Wu beneficially owns 22,803,875 Class A ordinary shares, including 249,500 shares held directly and 22,554,375 Class A shares issuable upon conversion of an equal number of Class B shares held through Decho Investment Limited.
This gives Wu a 20.16% beneficial stake in BGIN’s Class A ordinary shares, based on 90,581,566 Class A shares outstanding as of December 31, 2025 plus the convertible Class B shares. Decho Investment Limited, its parent Mister NK Limited, and The Xiantaipai Trust each report beneficial ownership of 22,554,375 Class A shares, or 19.94% of the class, reflecting their role in the same trust and holding structure controlled for voting purposes by Wu.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
BGIN BLOCKCHAIN LIMITED
(Name of Issuer)
Class A ordinary shares
(Title of Class of Securities)
G17429104
(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.
G17429104
1
Names of Reporting Persons
Qingfeng Wu
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
CHINA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
249,500.00
6
Shared Voting Power
22,554,375.00
7
Sole Dispositive Power
249,500.00
8
Shared Dispositive Power
22,554,375.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
22,803,875.00
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)
20.16 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: The amount in rows 5 and 7 represents 249,500 Class A ordinary shares directly held by Mr. Qingfeng Wu.
The amount in rows 6 and 8 represents 22,554,375 Class A ordinary shares issuable upon the conversion of 22,554,375 Class B ordinary shares beneficially owned by Mr. Qingfeng Wu through Decho Investment Limited, a British Virgin Islands company, an entity wholly owned by Mister NK Limited, a British Virgin Islands company. Mister NK Limited is controlled by The Xiantaipai Trust, a trust managed by Dedao Trust Limited as trustee. Mr. Qingfeng Wu is the settlor of The Xiantaipai Trust. Under the terms of this trust, Mr. Qingfeng Wu has the power to direct the trustee with respect to the exercise of any voting and other rights attached to the shares held by Decho Investment Limited in the Company.
The amount in row 9 represents 249,500 Class A ordinary shares directly held by Mr. Qingfeng Wu and 22,554,375 Class A ordinary shares issuable upon the conversion of 22,554,375 Class B ordinary shares beneficially owned by Mr. Qingfeng Wu.
Percentage of class is calculated based on 90,581,566 Class A ordinary shares outstanding as of December 31, 2025, plus the 22,554,375 Class A ordinary shares issuable upon the conversion of 22,554,375 Class B ordinary shares beneficially owned by Mr. Qingfeng Wu.
SCHEDULE 13G
CUSIP No.
G17429104
1
Names of Reporting Persons
Decho Investment 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
0.00
6
Shared Voting Power
22,554,375.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
22,554,375.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
22,554,375.00
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)
19.94 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: The amount in rows 6, 8 and 9 represents 22,554,375 Class A ordinary shares issuable upon the conversion of 22,554,375 Class B ordinary shares beneficially owned by Mr. Qingfeng Wu through Decho Investment Limited, a British Virgin Islands company, an entity wholly owned by Mister NK Limited, a British Virgin Islands company. Mister NK Limited is controlled by The Xiantaipai Trust, a trust managed by Dedao Trust Limited as trustee. Mr. Qingfeng Wu is the settlor of The Xiantaipai Trust. Under the terms of this trust, Mr. Qingfeng Wu has the power to direct the trustee with respect to the exercise of any voting and other rights attached to the shares held by Decho Investment Limited in the Company.
Percentage of class is calculated based on 90,581,566 Class A ordinary shares outstanding as of December 31, 2025, plus the 22,554,375 Class A ordinary shares issuable upon the conversion of 22,554,375 Class B ordinary shares beneficially owned by Mr. Qingfeng Wu.
SCHEDULE 13G
CUSIP No.
G17429104
1
Names of Reporting Persons
Mister NK 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
0.00
6
Shared Voting Power
22,554,375.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
22,554,375.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
22,554,375.00
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)
19.94 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: The amount in rows 6, 8 and 9 represents 22,554,375 Class A ordinary shares issuable upon the conversion of 22,554,375 Class B ordinary shares beneficially owned by Mr. Qingfeng Wu through Decho Investment Limited, a British Virgin Islands company, an entity wholly owned by Mister NK Limited, a British Virgin Islands company. Mister NK Limited is controlled by The Xiantaipai Trust, a trust managed by Dedao Trust Limited as trustee. Mr. Qingfeng Wu is the settlor of The Xiantaipai Trust. Under the terms of this trust, Mr. Qingfeng Wu has the power to direct the trustee with respect to the exercise of any voting and other rights attached to the shares held by Decho Investment Limited in the Company.
Percentage of class is calculated based on 90,581,566 Class A ordinary shares outstanding as of December 31, 2025, plus the 22,554,375 Class A ordinary shares issuable upon the conversion of 22,554,375 Class B ordinary shares beneficially owned by Mr. Qingfeng Wu.
SCHEDULE 13G
CUSIP No.
G17429104
1
Names of Reporting Persons
The Xiantaipai Trust
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
22,554,375.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
22,554,375.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
22,554,375.00
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)
19.94 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The amount in rows 6, 8 and 9 represents 22,554,375 Class A ordinary shares issuable upon the conversion of 22,554,375 Class B ordinary shares beneficially owned by Mr. Qingfeng Wu through Decho Investment Limited, a British Virgin Islands company, an entity wholly owned by Mister NK Limited, a British Virgin Islands company. Mister NK Limited is controlled by The Xiantaipai Trust, a trust managed by Dedao Trust Limited as trustee. Mr. Qingfeng Wu is the settlor of The Xiantaipai Trust. Under the terms of this trust, Mr. Qingfeng Wu has the power to direct the trustee with respect to the exercise of any voting and other rights attached to the shares held by Decho Investment Limited in the Company.
Percentage of class is calculated based on 90,581,566 Class A ordinary shares outstanding as of December 31, 2025, plus the 22,554,375 Class A ordinary shares issuable upon the conversion of 22,554,375 Class B ordinary shares beneficially owned by Mr. Qingfeng Wu.
Qingfeng Wu
Decho Investment Limited
Mister NK Limited
The Xiantaipai Trust
(b)
Address or principal business office or, if none, residence:
Qingfeng Wu: #09 12 Paya Lebar Square, 60 Paya Lebar Road, Singapore 409051
Decho Investment Limited: Tricor Services (BVI) Limited, 2/F, Palm Grove House, P.O. Box 3340, Road Town, Tortola, British Virgin Islands
Mister NK Limited: 2/F, Palm Grove House, P.O. Box 3340, Road Town, Tortola, British Virgin Islands
The Xiantaipai Trust: c/o Dedao: Room 1002, 10/F, Tower 1, China Hong Kong City, 33 Canton Road, Tsim Shaa Tsui, Kowloon, Hong Kong
(c)
Citizenship:
Qingfeng Wu: People's Republic of China
Decho Investment Limited: British Virgin Islands
Mister NK Limited: British Virgin Islands
The Xiantaipai Trust: Cayman Islands
(d)
Title of class of securities:
Class A ordinary shares
(e)
CUSIP No.:
G17429104
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:
Qingfeng Wu: 22,803,875
Decho Investment Limited: 22,554,375
Mister NK Limited: 22,554,375
The Xiantaipai Trust: 22,554,375
(b)
Percent of class:
Qingfeng Wu: 20.16%
Decho Investment Limited: 19.94%
Mister NK Limited: 19.94%
The Xiantaipai Trust: 19.94%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See Row 5 of the cover page for each Reporting Person.
(ii) Shared power to vote or to direct the vote:
See Row 6 of the cover page for each Reporting Person.
(iii) Sole power to dispose or to direct the disposition of:
See Row 7 of the cover page for each Reporting Person.
(iv) Shared power to dispose or to direct the disposition of:
See Row 8 of the cover page for each Reporting Person.
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.
Qingfeng Wu
Signature:
/s/ Qingfeng Wu
Name/Title:
Qingfeng Wu
Date:
02/17/2026
Decho Investment Limited
Signature:
/s/ Qingfeng Wu
Name/Title:
Qingfeng Wu/Director
Date:
02/17/2026
Mister NK Limited
Signature:
/s/ Zhuoran Li
Name/Title:
Zhuoran Li/Director - Dedao Trust Limited, as Director
Date:
02/17/2026
The Xiantaipai Trust
Signature:
/s/ Zhuoran Li
Name/Title:
Zhuoran Li/Director - Dedao Trust Limited, as Trustee
Who is the major shareholder of BGIN (BGIN) in this Schedule 13G?
The major shareholder is Qingfeng Wu, who reports beneficial ownership of 22,803,875 Class A ordinary shares of BGIN Blockchain Limited, giving him a 20.16% stake when including shares issuable upon conversion of Class B ordinary shares.
How many BGIN (BGIN) shares does Qingfeng Wu beneficially own and what is his percentage?
Qingfeng Wu beneficially owns 22,803,875 Class A ordinary shares, representing 20.16% of that class. This includes 249,500 Class A shares held directly plus 22,554,375 Class A shares issuable upon conversion of an equal number of Class B shares.
How is Qingfeng Wu’s ownership in BGIN (BGIN) structured through Decho Investment Limited?
Wu’s indirect stake runs through Decho Investment Limited, which holds 22,554,375 Class B shares convertible into the same number of Class A shares. Decho is wholly owned by Mister NK Limited, which is controlled by The Xiantaipai Trust, for which Wu is the settlor with voting direction powers.
What percentage of BGIN (BGIN) does Decho Investment Limited and related entities own?
Decho Investment Limited, Mister NK Limited, and The Xiantaipai Trust each report beneficial ownership of 22,554,375 Class A shares issuable from Class B shares, representing 19.94% of BGIN’s Class A ordinary shares, based on the share count methodology disclosed.
What share count was used to calculate ownership percentages in the BGIN (BGIN) filing?
Percentages are calculated based on 90,581,566 Class A ordinary shares outstanding as of December 31, 2025, plus 22,554,375 Class A shares issuable upon conversion of 22,554,375 Class B shares beneficially owned by Qingfeng Wu through the described holding structure.
Which jurisdictions are involved in the ownership structure of BGIN (BGIN)?
The structure spans several jurisdictions: Qingfeng Wu is a citizen of the People’s Republic of China; Decho Investment Limited and Mister NK Limited are in the British Virgin Islands; and The Xiantaipai Trust is organized in the Cayman Islands, with Hong Kong listed for trustee contact.
