Maase Inc. Schedule 13G/A reports that YF Management Company Limited and its owner LIU YIF beneficially own 4,700,000 Class A Ordinary Shares, representing 1.06% of the company's ordinary shares. The ownership calculation is based on 442,175,578 ordinary shares outstanding as of March 30, 2026.
The filing states sole voting and dispositive power over the 4,700,000 Class A shares and clarifies that YF Management is wholly owned by LIU YIF. Aggregate voting power is reported as 0.43% for each reporting person when Class A and Class B shares are treated as a single class.
Positive
None.
Negative
None.
Insights
Holders report a minor passive stake with voting math disclosed.
The filing shows a 1.06% beneficial holding (4,700,000 Class A shares) by YF Management/LIU YIF, calculated on 442,175,578 ordinary shares outstanding as of March 30, 2026. The report lists sole voting and dispositive power for the stated shares.
Impact is routine: this is a passive ownership disclosure under Schedule 13G/A rather than an active acquisition statement; voting influence is limited given the 0.43% aggregate voting power figure when Class A and Class B are combined.
Ownership structure and vote-weighting are clearly disclosed; Class B votes carry outsized weight.
The filing explicitly explains the vote calculation methodology: Class A = 1 vote, Class B = 100 votes, and reports percent of aggregate voting power as 0.43%. This clarifies that economic stake (1.06%) differs from board/vote influence.
Watch filings for any change in beneficial ownership or conversions that could alter voting percentages; timing for such changes is not provided in this excerpt.
Key Figures
Beneficial ownership:4,700,000 sharesPercent of class:1.06%Shares outstanding:442,175,578 shares+1 more
4 metrics
Beneficial ownership4,700,000 sharesClass A Ordinary Shares held by YF Management/LIU YIF
Percent of class1.06%Percentage of ordinary shares outstanding as of March 30, 2026
Shares outstanding442,175,578 sharesOrdinary shares outstanding as of March 30, 2026
Aggregate voting power0.43%Voting power for each reporting person when Class A and B treated as single class
Key Terms
Schedule 13G/A, Class B votes, Beneficial ownership
3 terms
Schedule 13G/Aregulatory
"This Statement is filed on behalf of the following persons (collectively, the "Reporting Persons")"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
Class B votescorporate
"Each Class B Ordinary Share is entitled to one hundred (100) votes"
Beneficial ownershipfinancial
"Amount beneficially owned: YF Management: 4,700,000 Class A Ordinary Shares"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Maase Inc.
(Name of Issuer)
Class A Ordinary Shares, Par Value US$0.09 Per Share
(Title of Class of Securities)
G4453R115
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
G4453R115
1
Names of Reporting Persons
YF Management Company Limited
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
HONG KONG
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
4,700,000.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
4,700,000.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,700,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.06 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: Note to Row 5, 7, 9: Includes 4,700,000 Class A ordinary shares, par value $0.09 per share (the "Class A Ordinary Shares"), of Maase Inc. (the "Issuer") held by YF Management Company Limited. YF Management Company Limited is wholly owned by LIU YIF. Note to Row 11: Percentage of beneficial ownership of Reporting Persons is based on 442,175,578 ordinary shares (excluding treasury shares), comprising of 435,508,910 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 March 30, 2026 according to records of the Issuer.
SCHEDULE 13G
CUSIP Number(s):
G4453R115
1
Names of Reporting Persons
LIU YIF
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
GUINEA-BISSAU
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
4,700,000.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
4,700,000.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,700,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.06 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: Note to Row 5, 7, 9: Includes 4,700,000 Class A Ordinary Shares of the Issuer held by YF Management Company Limited, which is wholly owned by LIU YIF. Note to Row 11: Percentage of beneficial ownership of Reporting Persons is based on 442,175,578 ordinary shares (excluding treasury shares), comprising of 435,508,910 Class A Ordinary Shares (excluding treasury shares) and 6,666,668 Class B Ordinary Shares of the Issuer, outstanding as of March 30, 2026 according to records of the Issuer.
This Statement is filed on behalf of the following persons (collectively, the "Reporting Persons"):
i) YF Management Company Limited ("YF Management"); and
ii) LIU YIF.
(b)
Address or principal business office or, if none, residence:
The address of LIU YIF is 28 Lower Kent Ridge Road, Singapore 11837.
The principal business office of YF Management is RM 1604, 16/F, OFFICEPLUS@SHEUNG WAN 93-103, WING LOK ST SHEUNG WAN, HONG KONG.
(c)
Citizenship:
YF Management is a Hong Kong company.
LIU YIF is a citizen of the Republic of Guinea-Bissau.
(d)
Title of class of securities:
Class A Ordinary Shares, Par Value US$0.09 Per Share
(e)
CUSIP No.:
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
YF Management: 4,700,000 Class A Ordinary Shares
LIU YIF: 4,700,000 Class A Ordinary Shares
The beneficial ownership represents 4,700,000 Class A Ordinary Shares held by YF Management, a company incorporated in Hong Kong, which is wholly owned by LIU YIF, a citizen of the Republic of Guinea-Bissau.
(b)
Percent of class:
YF Management : 1.06%
LIU YIF: 1.06%
Percentage of beneficial ownership of Reporting Persons is based on 442,175,578 ordinary shares (excluding treasury shares), comprising of 435,508,910 Class A Ordinary Shares (excluding treasury shares) and 6,666,668 Class B Ordinary Shares of the Issuer, outstanding as of March 30, 2026 according to records of the Issuer. The Class B Ordinary Shares are treated as converted into Class A ordinary shares only for the purpose of calculating the percentage ownership.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
YF Management: 4,700,000 Class A Ordinary Shares
LIU YIF: 4,700,000 Class A Ordinary Shares
Percent of Aggregate Voting Power:
YF Management: 0.43%
LIU YIF: 0.43%
For each Reporting Person, percentage of aggregate voting power is calculated by dividing the voting power beneficially owned by such Reporting Person by the voting power of all of the Issuer's Class A Ordinary Shares and Class B Ordinary Shares as a single class. 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.
(ii) Shared power to vote or to direct the vote:
0.00
(iii) Sole power to dispose or to direct the disposition of:
YF Management: 4,700,000 Class A Ordinary Shares
LIU YIF: 4,700,000 Class A Ordinary Shares
(iv) Shared power to dispose or to direct the disposition of:
0.00
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
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.
How many Maase Inc. (MAAS) Class A shares does YF Management own?
YF Management beneficially owns 4,700,000 Class A Ordinary Shares. The figure is stated directly and represents the shares held by YF Management, a company wholly owned by LIU YIF.
What percentage of Maase Inc. does 4,700,000 shares represent (MAAS)?
The 4,700,000 Class A shares equal 1.06% of Maase's ordinary shares. The percentage is calculated using 442,175,578 ordinary shares outstanding as of March 30, 2026 per the filing.
Who has voting and dispositive power over the reported Maase (MAAS) shares?
The filing states that both YF Management and LIU YIF have sole voting and sole dispositive power over 4,700,000 Class A shares. Shared voting or dispositive power is reported as 0.00.
How is aggregate voting power calculated for Maase (MAAS) in this filing?
Aggregate voting power is computed treating Class A and Class B shares as one class. Each Class A has 1 vote and each Class B has 100 votes; the reporting persons show 0.43% aggregate voting power.
