Maase Inc. Amended Major Shareholder Report

Accepted by SEC EDGAR 01/16/2026 - 04:01 PM EST

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Form Type

SCHEDULE 13D/A

Rhea-AI Filing Summary

Maase Inc. investor Arts Wing Limited and its owner Robert Liu have updated their ownership disclosure in an amended Schedule 13D. They report beneficial ownership of 92,122,044 Class A ordinary shares, representing 25.97% of Maase’s outstanding ordinary shares and 9.08% of its total voting power as of January 14, 2026. Each Class A share carries one vote, while each Class B share carries one hundred votes.

The shares are directly held by Arts Wing Limited, which is wholly owned by Robert Liu, giving him beneficial ownership under regulatory rules. The filing states there is no change in the number of Class A shares they hold; the lower ownership percentage results from Maase issuing additional Class A shares in a separate transaction on January 14, 2026, in which they did not participate.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

Maase Inc.

(Name of Issuer)

Class A Ordinary Share, par value $0.09 per share

(Title of Class of Securities)

G4453R115

(CUSIP Number)

Arts Wing Limited
c/o Robert Liu 1202, Tower A,, 14 Science Museum Road
Tsimshatsui East, Kowloon, K3, 999077
852-63121973

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

01/14/2026

(Date of Event Which Requires Filing of This Statement)

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).

SCHEDULE 13D

CUSIP No.

G4453R115

Name of reporting person

Arts Wing Limited

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Citizenship or place of organization

HONG KONG

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 92,122,044.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 92,122,044.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

92,122,044.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Percent of class represented by amount in Row (11)

25.97 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

Note to Row 7, 9, 11: Includes 92,122,044 Class A ordinary shares, par value $0.09 per share, of Maase Inc. (the "Issuer") held by Arts Wing Limited. Note to Row 13: The percentage calculation is based on 354,775,434 ordinary shares (excluding treasury shares), comprising of 348,108,766 Class A ordinary shares (excluding treasury shares) and 6,666,668 Class B ordinary shares, of the Issuer outstanding as of January 14, 2026 according to records of the Issuer.

SCHEDULE 13D

CUSIP No.

G4453R115

Name of reporting person

Robert Liu

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Citizenship or place of organization

GUINEA-BISSAU

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 92,122,044.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 92,122,044.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

92,122,044.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Percent of class represented by amount in Row (11)

25.97 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

Note to Row 7, 9, 11: Includes 92,122,044 Class A ordinary shares, par value $0.09 per share, of the Issuer held by Arts Wing Limited. Arts Wing Limited is wholly owned by Robert Liu. Note to Row 13: The percentage calculation is based on 354,775,434 ordinary shares (excluding treasury shares), comprising of 348,108,766 Class A ordinary shares (excluding treasury shares) and 6,666,668 Class B ordinary shares, of the Issuer outstanding as of January 14, 2026 according to records of the Issuer.

SCHEDULE 13D

Item 1.

Security and Issuer

(a)

Title of Class of Securities:

Class A Ordinary Share, par value $0.09 per share

(b)

Name of Issuer:

Maase Inc.

(c)

Address of Issuer's Principal Executive Offices:

Building 48, Zhixin Manufacturing Valley, No. 52 Yangzhou Rd, Economic Dev., Zone, Laixi, Qingdao, Shandong, CHINA , 266000.

Item 1 Comment:

This Amendment No. 1 to Schedule 13D (this "Amendment No. 1") amends and supplements the prior statement on Schedule 13D as filed on October 30, 2025 (the "Original 13D," the Original 13D as amended and supplemented, this "Schedule 13D"), and relates to the beneficial ownership of Class A ordinary shares, par value $0.09 per share (the "Class A Ordinary Shares") of Maase Inc., a Cayman Islands exempted company (the "Issuer") whose principal executive office is located at Building 48, Zhixin Manufacturing Valley Industrial Park, No. 52 Yangzhou Road, Economic Development Zone, Laixi, Qingdao, Shandong, F4, 266000.

Item 5.

Interest in Securities of the Issuer

(a)

Item 5 of this Schedule 13D is hereby amended and supplemented to add the following: The aggregate number of ordinary shares beneficially owned by the Reporting Persons is 92,122,044 Class A Ordinary Shares directly held by Arts Wing Limited which is 100% owed by Robert Liu. Pursuant to Section 13(d) of the Exchange Act and the rules promulgated thereunder, Mr. Liu may be deemed to beneficially own all of the ordinary shares of the Issuer held by Arts Wing Limited. The Reporting Persons' aggregate percentage of beneficial ownership is 25.97%, representing 9.08% of the voting power of the Issuer. Percentage of beneficial ownership of Reporting Persons is based on 354,775,434 ordinary shares (excluding treasury shares), comprising of 348,108,766 Class A Ordinary Shares (excluding treasury shares) and 6,666,668 Class B ordinary shares, par value $0.09 per share (the "Class B Ordinary Shares") of the Issuer outstanding as of January 14, 2026 according to records of the Issuer. Each Class A Ordinary Share is entitled to one (1) vote while each Class B Ordinary Share is entitled to one hundred (100) votes on any and all matters submitted for a vote. There is no change in the number of Class A Ordinary Shares held by the Reporting Persons. The decrease in the Reporting Persons' percentage of beneficial ownership reflects the Issuer's issuance of additional Class A Ordinary Shares in connection with a separate transaction on January 14, 2026 to which neither of the Reporting Persons was a party.

(b)

Each of the Reporting Persons has sole voting and dispositive power over the ordinary shares of reported in this Schedule 13D.

(c)

During the 60 days preceding the filing of this Schedule 13D, none of the Reporting Persons and, to their knowledge, none of the director and officer of the Reporting Persons has effected any transactions in the ordinary shares of the Issuer except as reported herein.

(d)

To the best knowledge of the Reporting Persons, except for the agreement described in this Schedule 13D, no one other than the Reporting Persons, or the holders of interests in the Reporting Persons, has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the ordinary shares of the Issuer that they beneficially own.

(e)

Not applicable.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Arts Wing Limited