STOCK TITAN

Hong Zhifang discloses 27.08% super-voting stake in DarkIris (DKI)

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D

Rhea-AI Filing Summary

DarkIris Inc. insider Hong Zhifang, through RongStar Holdings Ltd, reports beneficial ownership of 5,449,600 Class B Ordinary Shares, representing 27.08% of DarkIris’s total ordinary shares. These Class B shares are convertible one-for-one into Class A shares and carry twenty votes per share versus one vote for each Class A share.

All 5,449,600 Class B shares are held by RongStar Holdings Ltd, which is wholly owned by Hong Zhifang, giving him sole voting and dispositive power. The filer states no current specific plans for corporate actions but may review and change this position over time. The shares are subject to a lock-up agreement restricting transfers for six months after the initial public offering’s closing.

Positive

  • None.

Negative

  • None.

Insights

Founder-level 27.08% stake with super-voting shares concentrates control but is routine for founder-led issuers.

Hong Zhifang, via RongStar Holdings Ltd, holds 5,449,600 Class B Ordinary Shares, or 27.08% of DarkIris’s ordinary shares. Each Class B share has twenty votes, versus one vote for Class A, giving this block substantial influence over shareholder decisions and corporate direction.

The filing notes no concrete plans for mergers, restructurings, or similar actions, only that the holder may reconsider intentions over time. A six-month lock-up on 5,449,600 Class B shares after the IPO closing limits near-term secondary sales. Overall, this looks like a standard founder control and lock-up structure rather than a new, thesis-changing event.

Beneficial ownership 5,449,600 Class B Ordinary Shares Beneficially owned by Hong Zhifang via RongStar Holdings Ltd
Percent of class 27.08% Portion of 20,125,000 DarkIris ordinary shares outstanding
Total ordinary shares outstanding 20,125,000 shares 14,675,400 Class A and 5,449,600 Class B as of January 30, 2026
Class A ordinary shares 14,675,400 shares Part of total ordinary shares outstanding as of January 30, 2026
Class B ordinary shares 5,449,600 shares All held by RongStar Holdings Ltd, beneficially owned by Hong Zhifang
Voting rights per share class 20 votes (Class B) vs 1 vote (Class A) Voting power attached to each DarkIris ordinary share class
Lock-up period Six months No transfers of 5,449,600 Class B shares after IPO closing
beneficial owner financial
"The Reporting Person became the beneficial owner of 17,030 Class B Ordinary Shares"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
Class B Ordinary Shares financial
"Class B Ordinary Shares are convertible at any time by the holder thereof into Class A Ordinary Shares"
Class B ordinary shares are a type of ownership stake in a company that typically come with different voting rights or privileges compared to other share classes. For investors, they represent a way to hold part of the company’s value and influence its decisions, often with fewer voting rights than Class A shares. Understanding these shares helps investors assess their level of control and potential returns within a company.
lock-up agreement financial
"the Reporting Persons entered into a lock-up agreement (the "Lock-up Agreement")"
A lock-up agreement is a contract that prevents company insiders and early investors from selling their shares for a fixed period after a stock sale, often after an initial public offering. It matters to investors because it temporarily limits the number of shares that can hit the market, which can keep the share price steadier; when the lock-up ends, a sudden increase in available shares can create extra volatility, revealing insiders’ confidence or lack thereof.
dispositive power financial
"Hong Zhifang has the voting and dispositive control over the shares held by RongStar Holdings Ltd"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
Schedule 13D regulatory
"If the filing person has previously filed a statement on Schedule 13G to report the acquisition"
A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.





If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




schemaVersion:


SCHEDULE 13D




Comment for Type of Reporting Person:
(1) Comprised of 0 Class A Ordinary Shares and 5,449,600 Class B Ordinary Shares owned by RongStar Holdings Ltd, an entity wholly owned by Hong Zhifang. Therefore, Hong Zhifang has the voting and dispositive control over the shares held by RongStar Holdings Ltd. Class B Ordinary Shares are convertible at any time by the holder thereof into Class A Ordinary Shares on a one-for-one basis. Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to twenty votes per share on all matters submitted to them for vote. (2) Percentage of class is calculated based on 20,125,000 Ordinary Shares, consisting of 14,675,400 Class A Ordinary Shares and 5,449,600 Class B Ordinary Shares outstanding as of January 30, 2026, which information was provided by the Issuer to the Reporting Persons on January 30, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
1) RongStar Holdings Ltd is 100% owned by Hong Zhifang. Accordingly, Hong Zhifang has the sole voting and dispositive power over these shares. Class B Ordinary Shares are convertible at any time by the holder thereof into Class A Ordinary Shares on a one-for-one basis. Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to twenty votes per share on all matters submitted to them for vote. (2) Percentage of class is calculated based on 20,125,000 Ordinary Shares, consisting of 14,675,400 Class A Ordinary Shares and 5,449,600 Class B Ordinary Shares outstanding as of January 30, 2026, which information was provided by the Issuer to the Reporting Persons on January 30, 2026.


SCHEDULE 13D


Hong Zhifang
Signature:/s/ Hong Zhifang
Name/Title:Hong Zhifang
Date:04/03/2026
RongStar Holdings Ltd
Signature:/s/ Hong Zhifang
Name/Title:Hong Zhifang/ Director
Date:04/03/2026

FAQ

How much of DarkIris (DKI) does Hong Zhifang beneficially own?

Hong Zhifang, through RongStar Holdings Ltd, beneficially owns 5,449,600 Class B Ordinary Shares of DarkIris, representing 27.08% of the company’s 20,125,000 ordinary shares. This stake gives him significant influence, especially because each Class B share carries twenty votes.

What is the difference between DarkIris Class A and Class B Ordinary Shares?

DarkIris Class B Ordinary Shares are convertible into Class A on a one-for-one basis and carry twenty votes per share. Class A shares carry only one vote and are not convertible into Class B under any circumstances, creating a dual-class, super-voting structure.

Who holds the 5,449,600 Class B shares reported for DarkIris (DKI)?

All 5,449,600 Class B Ordinary Shares are held by RongStar Holdings Ltd, a British Virgin Islands company wholly owned by Hong Zhifang. Because he owns RongStar, Hong Zhifang has sole voting and dispositive power over these DarkIris shares.

Does Hong Zhifang have specific plans to change control at DarkIris (DKI)?

The filing states the reporting persons have no present plans or proposals for actions like mergers, asset sales, or control changes. However, they may review and change their position over time and could seek to influence management or the board in the future.

What lock-up restrictions apply to Hong Zhifang’s DarkIris holdings?

In connection with DarkIris’s initial public offering, the reporting persons agreed in a lock-up agreement not to transfer an aggregate 5,449,600 Class B Ordinary Shares for six months after the IPO closing. This temporarily limits their ability to sell or otherwise transfer these shares.

How was the 27.08% ownership figure for DarkIris (DKI) calculated?

The 27.08% figure is based on 20,125,000 Ordinary Shares outstanding as of January 30, 2026, consisting of 14,675,400 Class A and 5,449,600 Class B shares. The reporting persons beneficially own all 5,449,600 Class B shares, leading to the 27.08% percentage.