[6-K] Hongli Group Inc. Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Sun Communities (NYSE: SUI) filed an 8-K announcing a leadership transition.

• Charles D. Young, former President of Invitation Homes, will become Chief Executive Officer and join the Board on 1 Oct 2025, enlarging the Board to ten members.
• Young’s 5-year employment agreement sets a $900k base salary and a target annual cash bonus equal to 200 % of salary (2025 bonus guaranteed at target, prorated).
• On the start date he will receive equity and cash inducements designed to replace forfeited Invitation Homes awards: $3.55 m performance-based RS, $1 m fully-vested stock, $4 m time-vested RS, a $750k cash bonus and $300k relocation benefits. A 2026 equity award worth $6 m is also committed.
• Severance for termination without cause or resignation for good reason equals 2× salary plus target bonus and accelerated vesting; change-in-control multiple is 2.99×.
• Gary A. Shiffman will retire as CEO when Young starts and remain Non-Executive Chairman through the 2026 AGM.

No disagreements or related-party transactions were reported. Exhibit 99.1 contains the related press release.

Insights

Corporate Governance Expert

TL;DR: Smooth CEO succession with strong retention incentives; governance risk limited by Shiffman remaining as Chair.

The Board executed an orderly succession, naming a seasoned public-company operator while preserving institutional knowledge via Shiffman’s transition to Non-Executive Chair. Equity-heavy inducements align Young with shareholders but carry dilution and optics concerns. Two-year non-compete and performance-based vesting mitigate downside. Overall governance impact is positive, with clear disclosure of severance and CIC terms.

Equity Research Analyst

TL;DR: Leadership change is strategically positive; cost of package modest versus SUI’s $18 bn market cap.

Young’s single-family rental pedigree (Invitation Homes) complements SUI’s manufactured-housing portfolio, potentially broadening operational best practices. The upfront ~$9.6 m inducement and rich bonus structure represent under 0.05 % of equity value, thus financially immaterial. Key watch-points are integration period and ability to sustain FFO growth. The guaranteed 2025 bonus slightly weakens pay-for-performance this year, but long-term alignment is preserved by performance RSUs.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2025

Hongli Group Inc.

(Exact name of registrant as specified in its charter)

No. 777, Daiyi Road,

Changle County, Weifang City,

Shandong Province, China, 262400.

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒        Form 40-F ☐

Incorporation by Reference

This report on Form 6-K is hereby incorporated by reference in the registration statement of Hongoli Group Inc. (the “Company”) on Form F-3 (File No. 333-284050).

Change of Directors 

Mr. Qian Xu has resigned as a member of the Company’s board of directors (the “Board”) and each of the Company’s (i) audit committee; (ii) compensation committee and (iii) nominating and corporate governance committee, effective on July 17, 2025. Mr. Xu’s resignation was due to personal reasons and was not the result of any dispute or disagreements with the Company on any matter relating to the Company’s operations, policies or practices.

Mr. Yizhao Zhang has also resigned as a member of the Board, and each of the Company’s (i) audit committee; (ii) compensation committee and (iii) nominating and corporate governance committee, effective on July 18, 2025. Mr. Zhang’s resignation was due to personal reasons and was not the result of any dispute or disagreements with the Company on any matter relating to the Company’s operations, policies or practices.

To fill the vacancies created by Mr. Xu’s and Mr. Zhang’s resignations, the Board will vote to approve the appointment of two directors to serve on the Board.

1

SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	HONGLI GROUP INC.
Date: July 23, 2025	By:	/s/ Jie Liu
		Jie Liu
		Chief Executive Officer

2