DSC Holdings insider restructures 10M share stake

DSC Holdings Ltd. reported an internal share restructuring involving 10,000,000 shares held indirectly through Dream Car Limited.

Accepted by SEC EDGAR 06/29/2026 - 09:12 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

DSC Holdings Ltd. reported an internal share restructuring involving 10,000,000 shares held indirectly through Dream Car Limited. On 2026-06-26, 5,000,000 ordinary shares held by Dream Car Limited were redesignated into 5,000,000 Class A ordinary shares on a one-for-one basis immediately prior to completion of the company’s initial public offering. The Form 4 attributes these holdings to director and Senior Vice President Zhang Liyu as indirect ownership, with no cash consideration and no open-market buying or selling disclosed. Following the transaction, Dream Car Limited holds 5,000,000 Class A ordinary shares and no ordinary shares.

Insider Trade Summary

Other: 10,000,000 shares

Other 2 txns

Insider Zhang Liyu

Role Senior Vice President

Type	Security	Shares	Price	Value
Other	Ordinary shares	5,000,000	$0.00	$0.00
Other	Class A ordinary shares	5,000,000	$0.00	$0.00

Holdings After Transaction: Ordinary shares — 0 shares (Indirect, Held by Dream Car Limited); Class A ordinary shares — 5,000,000 shares (Indirect, Held by Dream Car Limited)

Holdings Before and After: Ordinary shares, 5,000,000 to 0 shares (Indirect, Held by Dream Car Limited); Class A ordinary shares, 0 to 5,000,000 shares (Indirect, Held by Dream Car Limited)

Footnotes (1)

1. F1. Immediately prior to the completion of the Issuer's initial public offering, each ordinary share was redesignated as Class A ordinary shares on a one-for-one basis.

Key Figures

Restructured shares: 10,000,000 shares Ordinary shares before redesignation: 5,000,000 shares Class A shares after redesignation: 5,000,000 shares +1 more

4 metrics

Restructured shares 10,000,000 shares Total shares affected by J-code restructuring on 2026-06-26

Ordinary shares before redesignation 5,000,000 shares Indirectly held by Dream Car Limited prior to IPO-related change

Class A shares after redesignation 5,000,000 shares Indirectly held by Dream Car Limited following recapitalization

Reported transaction price $0.00 per share Price for J-code restructuring entries on 2026-06-26

Key Terms

Class A ordinary shares, Ordinary shares, initial public offering, indirect ownership, +1 more

5 terms

Class A ordinary shares financial

"Security title listed as Class A ordinary shares following redesignation."

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.

Ordinary shares financial

"Security title listed as Ordinary shares prior to redesignation."

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

initial public offering financial

"Footnote states shares were redesignated immediately prior to completion of the 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.

indirect ownership financial

"Ownership type described as indirect with nature of ownership held by Dream Car Limited."

Other acquisition or disposition financial

"Transaction code J is described as Other acquisition or disposition."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did DSC (DSC) disclose for Zhang Liyu?

DSC disclosed an internal restructuring for director and Senior Vice President Zhang Liyu. Through Dream Car Limited, 5,000,000 ordinary shares were redesignated into 5,000,000 Class A ordinary shares on a one-for-one basis, with no market purchase or sale reported.

How many DSC shares were affected in this Form 4 filing?

The filing shows 10,000,000 shares affected in total. Dream Car Limited’s 5,000,000 ordinary shares were redesignated into 5,000,000 Class A ordinary shares, leaving 5,000,000 Class A shares indirectly held and zero ordinary shares after the restructuring.

Did Zhang Liyu buy or sell DSC shares in this transaction?

The Form 4 does not report a buy or sell. It uses transaction code J for “Other acquisition or disposition,” reflecting a redesignation of 5,000,000 ordinary shares into 5,000,000 Class A ordinary shares with a reported price of $0.00 per share.

Who actually holds the DSC shares reported for Zhang Liyu?

The shares are held indirectly through Dream Car Limited. The Form 4 lists ownership as indirect, with the nature of ownership noted as “Held by Dream Car Limited,” and attributes 5,000,000 Class A ordinary shares to Zhang Liyu through this entity.

How is this DSC share change related to the company’s IPO?

The footnote states that immediately before completion of DSC’s initial public offering, each ordinary share was redesignated as Class A ordinary shares one-for-one. The reported 5,000,000-share change reflects that recapitalization step tied to the IPO structure.

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

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SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Zhang Liyu

(Last) (First) (Middle)

NO.175 WUCHANG AVENUE, YUHANG DISTRICT

(Street)

HANGZHOU ZHEJIANG, CHINA 311100

(City) (State) (Zip)

CHINA

(Country)

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

5. 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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Ordinary shares	06/26/2026		J(1)		5,000,000	D	$0	0	I	Held by Dream Car Limited
Class A ordinary shares	06/26/2026		J(1)		5,000,000	A	$0	5,000,000	I	Held by Dream Car Limited

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

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

	/s/ Liyu Zhang	06/29/2026
	** 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 4 (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 4: SEC 1474 (03-26)