DSC executive reports 5M shares and options

DSC Holdings Ltd. director and Senior Vice President Zhang Liyu has filed an initial ownership report detailing equity interests in the company.

Rhea-AI Filing Summary

DSC Holdings Ltd. director and Senior Vice President Zhang Liyu has filed an initial ownership report detailing equity interests in the company. The filing shows indirect ownership of 5,000,000 ordinary shares held through Drean Car Limited.

In addition, Zhang holds several blocks of stock options over Class A ordinary shares with exercise prices ranging from $0.0001 to $0.4796 per share, each expiring on October 1, 2032. Footnotes state these options were granted under the company’s 2023 equity plan, with some becoming exercisable upon completion of the initial public offering and others vesting over four years, with 25% vesting each year.

Insider Trade Summary

8 transactions reported

Mixed 8 txns

Insider Zhang Liyu

Role Senior Vice President

Type	Security	Shares	Price	Value
holding	Options	--	--	--
holding	Options	--	--	--
holding	Options	--	--	--
holding	Options	--	--	--
holding	Options	--	--	--
holding	Options	--	--	--
holding	Options	--	--	--
holding	Ordinary shares	--	--	--

Holdings After Transaction: Options — 8,651,519 contracts (Direct); Ordinary shares — 5,000,000 shares (Indirect, Held by Drean Car Limited)

Footnotes (5)

1. F1. Immediately prior to the completion of the Issuer's initial public offering, each ordinary shares will be redesignated as Class A ordinary shares on a one-for-one basis.
2. F2. These options were granted to the reporting person pursuant to the Issuer's 2023 Plan on July 25, 2023. All such options will become exercisable upon the completion of the Issuer's initial public offering.
3. F3. These options were granted to the reporting person pursuant to the Issuer's 2023 Plan on July 25, 2023 and subject to 4-year service based vesting schedule, with 25% vesting each year.
4. F4. These options were granted to the reporting person pursuant to the Issuer's 2023 Plan on March 29, 2024 and subject to 4-year service based vesting schedule, with 25% vesting each year.
5. F5. These options were granted to the reporting person pursuant to the Issuer's 2023 Plan on May 26, 2026 and will become exercisable upon the completion of the Issuer's initial public offering.

Key Figures

Indirect ordinary shares: 5,000,000 shares Options at $0.0001: 2,000,000 underlying shares Options at $0.4796 (block 1): 1,162,000 underlying shares +5 more

8 metrics

Indirect ordinary shares 5,000,000 shares Ordinary shares held via Drean Car Limited

Options at $0.0001 2,000,000 underlying shares Options on Class A ordinary shares, exercise price $0.0001

Options at $0.4796 (block 1) 1,162,000 underlying shares Options on Class A ordinary shares, exercise price $0.4796

Options at $0.4796 (block 2) 800,000 underlying shares Options on Class A ordinary shares, exercise price $0.4796

Options at $0.4796 (block 3) 40,500 underlying shares Options on Class A ordinary shares, exercise price $0.4796

Options at $0.4796 (block 4) 871,500 underlying shares Options on Class A ordinary shares, exercise price $0.4796

Options at $0.2109 2,511,759 underlying shares Options on Class A ordinary shares, exercise price $0.2109

Options at $0.0083 1,265,760 underlying shares Options on Class A ordinary shares, exercise price $0.0083

Key Terms

initial public offering, service based vesting schedule, 2023 Plan, Class A ordinary shares, +1 more

5 terms

initial public offering financial

"will become exercisable upon the completion of the Issuer's initial public offering"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

service based vesting schedule financial

"subject to 4-year service based vesting schedule, with 25% vesting each year"

2023 Plan financial

"These options were granted to the reporting person pursuant to the Issuer's 2023 Plan"

Class A ordinary shares financial

"each ordinary shares will be redesignated as Class A ordinary shares on a one-for-one basis"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

exercise price financial

"Options with an exercise price ranging from 0.0001 to 0.4796 per share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/24/2026 - 06:58 PM EDT Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Zhang Liyu

(Last) (First) (Middle)

NO.175 WUCHANG AVENUE

YUHANG DISTRICT

(Street)

HANGZHOU ZHEJIANG 311100

(City) (State) (Zip)

CHINA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
06/24/2026

3. Issuer Name and Ticker or Trading Symbol
DSC Holdings Ltd. [ DSC ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Senior Vice President

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary shares(1)	5,000,000	I	Held by Drean Car Limited

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Options	(2)	10/01/2032	Class A ordinary shares	1,265,760	$0.0083	D
Options	(2)	10/01/2032	Class A ordinary shares	2,511,759	$0.2109	D
Options	(2)	10/01/2032	Class A ordinary shares	871,500	$0.4796	D
Options	07/01/2026	10/01/2032	Class A ordinary shares	40,500	$0.4796	D
Options	(3)	10/01/2032	Class A ordinary shares	800,000	$0.4796	D
Options	(4)	10/01/2032	Class A ordinary shares	1,162,000	$0.4796	D
Options	(5)	10/01/2032	Class A ordinary shares	2,000,000	$0.0001	D

Explanation of Responses:

1. Immediately prior to the completion of the Issuer's initial public offering, each ordinary shares will be redesignated as Class A ordinary shares on a one-for-one basis.

2. These options were granted to the reporting person pursuant to the Issuer's 2023 Plan on July 25, 2023. All such options will become exercisable upon the completion of the Issuer's initial public offering.

3. These options were granted to the reporting person pursuant to the Issuer's 2023 Plan on July 25, 2023 and subject to 4-year service based vesting schedule, with 25% vesting each year.

4. These options were granted to the reporting person pursuant to the Issuer's 2023 Plan on March 29, 2024 and subject to 4-year service based vesting schedule, with 25% vesting each year.

5. These options were granted to the reporting person pursuant to the Issuer's 2023 Plan on May 26, 2026 and will become exercisable upon the completion of the Issuer's initial public offering.

	/s/ Liyu Zhang	06/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)