[SCHEDULE 13G/A] Webull Corporation Incentive Warrant SEC Filing
Schedule 13G/A summary: This filing discloses beneficial ownership positions in Webull Corp Class A ordinary shares by several Bojiang-related entities and an individual. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. and Tian Luo are each reported with shared voting and dispositive power over 29,151,428 Class A ordinary shares, representing 7.3% of the class.
The filing breaks the holdings down as 11,011,948 shares held by Lishui Bojiang Chuangfu 2nd Equity Investment Partnership, 11,011,948 by Anji Boye Investment Partnership and 7,127,532 by Changxing Boyi Equity Investment Fund Management Centre. It states Shanghai Bojiang serves as general partner of those funds and that Tian Luo beneficially owns 49.76% of Bojiang Group, and that these entities "possess power to direct the voting and disposition" of the shares and "may be deemed" to have indirect beneficial ownership. Percentages are calculated using 401,758,855 Class A shares outstanding as of July 22, 2025. The Reporting Persons expressly disclaim status as a group.
Riepilogo Schedule 13G/A: Questo deposito rende note posizioni di proprietà beneficiaria in azioni ordinarie di Classe A di Webull Corp detenute da varie entità collegate a Bojiang e da una persona fisica. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. e Tian Luo risultano ciascuno avere potere congiunto di voto e di disposizione su 29,151,428 azioni ordinarie di Classe A, pari al 7.3% della classe.
La comunicazione dettaglia le partecipazioni come 11,011,948 azioni detenute da Lishui Bojiang Chuangfu 2nd Equity Investment Partnership, 11,011,948 da Anji Boye Investment Partnership e 7,127,532 da Changxing Boyi Equity Investment Fund Management Centre. Vi si afferma che Shanghai Bojiang agisce come general partner di tali fondi e che Tian Luo detiene beneficiariamente il 49.76% di Bojiang Group, e che queste entità "possiedono il potere di dirigere il voto e la disposizione" delle azioni e "potrebbero essere considerate" titolari benefici indiretti. Le percentuali sono calcolate usando 401,758,855 azioni di Classe A in circolazione alla data del 22 luglio 2025. Le persone che presentano la relazione escludono espressamente lo status di gruppo.
Resumen Schedule 13G/A: Esta presentación revela posiciones de propiedad beneficiaria en acciones ordinarias Clase A de Webull Corp por parte de varias entidades relacionadas con Bojiang y de una persona física. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. y Tian Luo aparecen cada uno con poder compartido de voto y disposición sobre 29,151,428 acciones ordinarias Clase A, que representan el 7.3% de la clase.
La presentación desglosa las tenencias como 11,011,948 acciones en manos de Lishui Bojiang Chuangfu 2nd Equity Investment Partnership, 11,011,948 por Anji Boye Investment Partnership y 7,127,532 por Changxing Boyi Equity Investment Fund Management Centre. Indica que Shanghai Bojiang actúa como socio general de esos fondos y que Tian Luo posee beneficiariamente el 49.76% de Bojiang Group, y que estas entidades "poseen el poder de dirigir el voto y la disposición" de las acciones y "pueden considerarse" poseedoras beneficiarias indirectas. Los porcentajes se calculan usando 401,758,855 acciones Clase A en circulación al 22 de julio de 2025. Las personas informantes declaran expresamente que no actúan como un grupo.
Schedule 13G/A 요약: 이 제출서류는 여러 보장(Bojiang) 관련 법인들과 한 개인이 보유한 Webull Corp의 클래스 A 보통주에 대한 수익적 소유 지분을 공개합니다. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. 및 Tian Luo는 각자 공동 의결권 및 처분권을 통해 29,151,428주의 클래스 A 보통주를 보유하고 있으며, 이는 클래스의 7.3%에 해당합니다.
제출서류는 보유 내역을 11,011,948주가 Lishui Bojiang Chuangfu 2nd Equity Investment Partnership 보유, 11,011,948주가 Anji Boye Investment Partnership 보유, 7,127,532주가 Changxing Boyi Equity Investment Fund Management Centre 보유로 분류합니다. Shanghai Bojiang가 해당 펀드들의 일반 파트너(general partner)로서 역할을 한다고 밝히며, Tian Luo가 Bojiang Group의 49.76%를 수익적으로 보유하고 있고, 이들 기관이 주식의 "의결 및 처분을 지시할 권한"을 보유하며 "간접적 수익적 소유자"로 간주될 수 있다고 명시합니다. 비율은 2025년 7월 22일 기준 유통 중인 401,758,855주 클래스 A를 기준으로 계산되었습니다. 보고인들은 단체(group) 지위를 명시적으로 부인합니다.
Résumé Schedule 13G/A : Ce dépôt révèle des positions de propriété bénéficiaire sur des actions ordinaires de Classe A de Webull Corp détenues par plusieurs entités liées à Bojiang et par une personne physique. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. et Tian Luo sont chacun déclarés détenir un pouvoir conjoint de vote et de disposition sur 29,151,428 actions ordinaires de Classe A, représentant 7.3% de la classe.
Le dépôt détaille les participations comme suit : 11,011,948 actions détenues par Lishui Bojiang Chuangfu 2nd Equity Investment Partnership, 11,011,948 par Anji Boye Investment Partnership et 7,127,532 par Changxing Boyi Equity Investment Fund Management Centre. Il indique que Shanghai Bojiang agit en tant que associé commandité (general partner) de ces fonds et que Tian Luo détient bénéficiairement 49.76% de Bojiang Group, et que ces entités "possèdent le pouvoir d'orienter le vote et la disposition" des actions et "peuvent être considérées" comme ayant une propriété bénéficiaire indirecte. Les pourcentages sont calculés en utilisant 401,758,855 actions de Classe A en circulation au 22 juillet 2025. Les personnes déclarante/signalantes déclinent expressément le statut de groupe.
Zusammenfassung Schedule 13G/A: Diese Einreichung legt Angaben zu wirtschaftlich berechtigten Anteilen an Webull Corp Class A Stammaktien offen, die von mehreren Bojiang-nahe stehenden Einheiten und einer natürlichen Person gehalten werden. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. und Tian Luo werden jeweils mit gemeinsamem Stimm- und Verfügungsrecht über 29,151,428 Class A Stammaktien ausgewiesen, was 7.3% der Aktienklasse entspricht.
Die Einreichung gliedert die Beteiligungen wie folgt: 11,011,948 Aktien gehalten von Lishui Bojiang Chuangfu 2nd Equity Investment Partnership, 11,011,948 von Anji Boye Investment Partnership und 7,127,532 von Changxing Boyi Equity Investment Fund Management Centre. Es wird angegeben, dass Shanghai Bojiang als General Partner dieser Fonds fungiert und dass Tian Luo wirtschaftlich 49.76% an Bojiang Group hält, und dass diese Einheiten die "Befugnis besitzen, die Stimmabgabe und Verfügung über die Aktien zu leiten" und "als indirekte wirtschaftlich Berechtigte angesehen werden könnten." Die Prozentsätze wurden unter Verwendung von 401,758,855 umlaufenden Class A Aktien zum 22. Juli 2025 berechnet. Die meldenden Personen lehnen ausdrücklich den Status als Gruppe ab.
- Identifies a material holder: Shanghai Bojiang/Bojiang Group/Tian Luo reported with 29,151,428 Class A shares (7.3% of the class).
- Clear calculation basis provided: ownership percentages calculated using 401,758,855 Class A shares outstanding as of July 22, 2025.
- No sole voting or dispositive power reported for the Reporting Persons (sole power = 0), only shared power is indicated.
- Reporting Persons expressly disclaim group status, which reduces clarity about any coordinated control or collective intent.
Insights
TL;DR: Bojiang-related entities report a material disclosure: 29.15M Class A shares (7.3%), clarifying ownership concentration and control lines.
The filing provides clear quantities and percentages that are material to holders: aggregate and per-entity positions are specified and a share-outstanding figure is provided for calculation. The presence of a 7.3% indirect stake (29,151,428 shares) is large enough to be noticed by investors and analysts tracking ownership concentration. The Reporting Persons' disclaimer of group status and the lack of sole voting/dispositive power are important qualifiers that limit conclusions about coordinated control.
TL;DR: Ownership structure shows indirect control mechanisms via general-partner relationships and a 49.76% equity stake in Bojiang Group.
The document explains that Shanghai Bojiang acts as general partner of the three funds holding the shares and that Tian Luo owns 49.76% of Bojiang Group, and it states these parties "possess power to direct the voting and disposition" of the reported shares. That language signals potential indirect influence over governance matters, although the Reporting Persons expressly disclaim being a group and report no sole voting or dispositive power, which constrains definitive governance conclusions from this filing alone.
Riepilogo Schedule 13G/A: Questo deposito rende note posizioni di proprietà beneficiaria in azioni ordinarie di Classe A di Webull Corp detenute da varie entità collegate a Bojiang e da una persona fisica. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. e Tian Luo risultano ciascuno avere potere congiunto di voto e di disposizione su 29,151,428 azioni ordinarie di Classe A, pari al 7.3% della classe.
La comunicazione dettaglia le partecipazioni come 11,011,948 azioni detenute da Lishui Bojiang Chuangfu 2nd Equity Investment Partnership, 11,011,948 da Anji Boye Investment Partnership e 7,127,532 da Changxing Boyi Equity Investment Fund Management Centre. Vi si afferma che Shanghai Bojiang agisce come general partner di tali fondi e che Tian Luo detiene beneficiariamente il 49.76% di Bojiang Group, e che queste entità "possiedono il potere di dirigere il voto e la disposizione" delle azioni e "potrebbero essere considerate" titolari benefici indiretti. Le percentuali sono calcolate usando 401,758,855 azioni di Classe A in circolazione alla data del 22 luglio 2025. Le persone che presentano la relazione escludono espressamente lo status di gruppo.
Resumen Schedule 13G/A: Esta presentación revela posiciones de propiedad beneficiaria en acciones ordinarias Clase A de Webull Corp por parte de varias entidades relacionadas con Bojiang y de una persona física. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. y Tian Luo aparecen cada uno con poder compartido de voto y disposición sobre 29,151,428 acciones ordinarias Clase A, que representan el 7.3% de la clase.
La presentación desglosa las tenencias como 11,011,948 acciones en manos de Lishui Bojiang Chuangfu 2nd Equity Investment Partnership, 11,011,948 por Anji Boye Investment Partnership y 7,127,532 por Changxing Boyi Equity Investment Fund Management Centre. Indica que Shanghai Bojiang actúa como socio general de esos fondos y que Tian Luo posee beneficiariamente el 49.76% de Bojiang Group, y que estas entidades "poseen el poder de dirigir el voto y la disposición" de las acciones y "pueden considerarse" poseedoras beneficiarias indirectas. Los porcentajes se calculan usando 401,758,855 acciones Clase A en circulación al 22 de julio de 2025. Las personas informantes declaran expresamente que no actúan como un grupo.
Schedule 13G/A 요약: 이 제출서류는 여러 보장(Bojiang) 관련 법인들과 한 개인이 보유한 Webull Corp의 클래스 A 보통주에 대한 수익적 소유 지분을 공개합니다. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. 및 Tian Luo는 각자 공동 의결권 및 처분권을 통해 29,151,428주의 클래스 A 보통주를 보유하고 있으며, 이는 클래스의 7.3%에 해당합니다.
제출서류는 보유 내역을 11,011,948주가 Lishui Bojiang Chuangfu 2nd Equity Investment Partnership 보유, 11,011,948주가 Anji Boye Investment Partnership 보유, 7,127,532주가 Changxing Boyi Equity Investment Fund Management Centre 보유로 분류합니다. Shanghai Bojiang가 해당 펀드들의 일반 파트너(general partner)로서 역할을 한다고 밝히며, Tian Luo가 Bojiang Group의 49.76%를 수익적으로 보유하고 있고, 이들 기관이 주식의 "의결 및 처분을 지시할 권한"을 보유하며 "간접적 수익적 소유자"로 간주될 수 있다고 명시합니다. 비율은 2025년 7월 22일 기준 유통 중인 401,758,855주 클래스 A를 기준으로 계산되었습니다. 보고인들은 단체(group) 지위를 명시적으로 부인합니다.
Résumé Schedule 13G/A : Ce dépôt révèle des positions de propriété bénéficiaire sur des actions ordinaires de Classe A de Webull Corp détenues par plusieurs entités liées à Bojiang et par une personne physique. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. et Tian Luo sont chacun déclarés détenir un pouvoir conjoint de vote et de disposition sur 29,151,428 actions ordinaires de Classe A, représentant 7.3% de la classe.
Le dépôt détaille les participations comme suit : 11,011,948 actions détenues par Lishui Bojiang Chuangfu 2nd Equity Investment Partnership, 11,011,948 par Anji Boye Investment Partnership et 7,127,532 par Changxing Boyi Equity Investment Fund Management Centre. Il indique que Shanghai Bojiang agit en tant que associé commandité (general partner) de ces fonds et que Tian Luo détient bénéficiairement 49.76% de Bojiang Group, et que ces entités "possèdent le pouvoir d'orienter le vote et la disposition" des actions et "peuvent être considérées" comme ayant une propriété bénéficiaire indirecte. Les pourcentages sont calculés en utilisant 401,758,855 actions de Classe A en circulation au 22 juillet 2025. Les personnes déclarante/signalantes déclinent expressément le statut de groupe.
Zusammenfassung Schedule 13G/A: Diese Einreichung legt Angaben zu wirtschaftlich berechtigten Anteilen an Webull Corp Class A Stammaktien offen, die von mehreren Bojiang-nahe stehenden Einheiten und einer natürlichen Person gehalten werden. Shanghai Bojiang Investment Management Co., Ltd., Bojiang Group Co., Ltd. und Tian Luo werden jeweils mit gemeinsamem Stimm- und Verfügungsrecht über 29,151,428 Class A Stammaktien ausgewiesen, was 7.3% der Aktienklasse entspricht.
Die Einreichung gliedert die Beteiligungen wie folgt: 11,011,948 Aktien gehalten von Lishui Bojiang Chuangfu 2nd Equity Investment Partnership, 11,011,948 von Anji Boye Investment Partnership und 7,127,532 von Changxing Boyi Equity Investment Fund Management Centre. Es wird angegeben, dass Shanghai Bojiang als General Partner dieser Fonds fungiert und dass Tian Luo wirtschaftlich 49.76% an Bojiang Group hält, und dass diese Einheiten die "Befugnis besitzen, die Stimmabgabe und Verfügung über die Aktien zu leiten" und "als indirekte wirtschaftlich Berechtigte angesehen werden könnten." Die Prozentsätze wurden unter Verwendung von 401,758,855 umlaufenden Class A Aktien zum 22. Juli 2025 berechnet. Die meldenden Personen lehnen ausdrücklich den Status als Gruppe ab.
FAQ
How many Class A shares of Webull (BULLZ) do Bojiang-related entities beneficially own?
What percentage of Webull (BULLZ) do those holdings represent?
What share count was used to calculate the percentages?
Do the Reporting Persons claim to act as a group?
Do any Reporting Persons have sole voting or dispositive power over the reported shares?
