Jyong Biotech holder reports 33.34% ownership stake

Rhea-AI Filing Summary

Jyong Biotech Ltd. received a major ownership disclosure showing that Perfect Minds Co., Ltd. and related entities beneficially own 25,349,500 ordinary shares, or 33.34% of the company’s ordinary shares, based on 76,027,667 shares outstanding as of April 24, 2026.

Perfect Minds, a Seychelles holding company, directly holds the shares. It is wholly owned by Innovation Global Group Limited, which in turn is owned by The Innovation Trust, for which Unity Trust Limited acts as trustee. Ms. Kuo Fu‑Feng, the issuer’s Chief Executive Officer and Chairwoman, is settlor of the trust and sole director of Perfect Minds and has sole voting and dispositive power over these shares.

The stake was acquired for approximately $5,760,075, funded by Ms. Kuo. The reporting persons state they hold the shares for investment purposes and, aside from what is described, do not currently have additional plans tied to corporate actions listed under Item 4.

Insights

Equity ownership & governance analyst

CEO-linked trust structure controls about one-third of Jyong Biotech.

The filing shows entities associated with Ms. Kuo Fu‑Feng beneficially own 25,349,500 ordinary shares, representing 33.34% of Jyong Biotech. The shares are held through Perfect Minds Co., Ltd., its BVI parent Innovation Global Group Limited, and The Innovation Trust.

Although IGGL, The Innovation Trust and Unity Trust Limited report no voting power, Ms. Kuo has sole voting and dispositive power via Perfect Minds. This consolidates significant influence in one executive-linked holder, aligning management and ownership.

The stake was acquired for about $5,760,075, funded by Ms. Kuo, and is described as held for investment purposes. Future company filings may clarify if this ownership level changes over time or if any strategic transactions emerge involving this block.

Key Figures

Beneficial ownership: 25,349,500 ordinary shares Ownership percentage: 33.34% Shares outstanding: 76,027,667 ordinary shares +3 more

6 metrics

Beneficial ownership 25,349,500 ordinary shares Shares beneficially owned by the reporting persons

Ownership percentage 33.34% Portion of Jyong Biotech ordinary shares represented by 25,349,500 shares

Shares outstanding 76,027,667 ordinary shares Issuer’s outstanding ordinary shares as of April 24, 2026

Acquisition funds $5,760,075 Aggregate amount used by Perfect Minds to acquire the reported shares

Par value $0.00001 per share Par value of Jyong Biotech ordinary shares

Event date 06/16/2025 Date of event requiring the Schedule 13D filing

Key Terms

beneficially own, sole dispositive power, pecuniary interest, family discretionary trust, +1 more

5 terms

beneficially own financial

"the Reporting Persons beneficially owns 25,349,500 ordinary shares of the Issuer"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

sole dispositive power financial

"Perfect Minds: sole voting power over 25,349,500 Ordinary Shares; sole dispositive power over 25,349,500 Ordinary Shares"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

pecuniary interest financial

"disclaims beneficial ownership of the securities reported herein except to the extent of its or her pecuniary interest therein"

family discretionary trust financial

"The Innovation Trust, a family discretionary trust established under the laws of Hong Kong"

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13G to report the acquisition"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

FAQ

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

How many Jyong Biotech (MENS) shares do the reporting persons beneficially own?

The reporting persons beneficially own 25,349,500 ordinary shares of Jyong Biotech. This position is held directly by Perfect Minds Co., Ltd., with indirect ownership through Innovation Global Group Limited and The Innovation Trust, forming a significant single-holder investment in the company.

What percentage of Jyong Biotech (MENS) is held by the reporting group?

The filing states that 25,349,500 ordinary shares represent 33.34% of Jyong Biotech’s ordinary shares. This percentage is calculated based on 76,027,667 outstanding ordinary shares of the company as of April 24, 2026, indicating a large minority stake.

Who ultimately controls the reported Jyong Biotech (MENS) shareholding?

Perfect Minds Co., Ltd. directly holds the shares, but Ms. Kuo Fu‑Feng has sole voting and dispositive power. She is settlor of The Innovation Trust, sole director of Perfect Minds, and serves as Jyong Biotech’s Chief Executive Officer and Chairwoman, concentrating decision authority over this stake.

How were the Jyong Biotech (MENS) shares acquired by Perfect Minds?

The securities reported were acquired by Perfect Minds using funds totaling approximately $5,760,075. These funds were provided to Perfect Minds by Ms. Kuo Fu‑Feng specifically for acquiring the ordinary shares, indicating direct financial support from the principal individual behind the trust structure.

What is the relationship between Perfect Minds and Innovation Global Group in the Jyong Biotech (MENS) filing?

Perfect Minds Co., Ltd. is a Seychelles holding company that directly owns the Jyong Biotech shares and is wholly owned by Innovation Global Group Limited. Innovation Global Group is itself wholly owned by The Innovation Trust, creating a layered holding structure above the direct share ownership.

Does the Jyong Biotech (MENS) Schedule 13D state any specific corporate plans?

The reporting persons state they hold Jyong Biotech ordinary shares for investment purposes. Aside from the information described, they indicate no present plans or intentions related to the range of corporate actions listed under Item 4, such as mergers, reclassifications, or significant asset transactions.

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

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Accepted by SEC EDGAR 04/24/2026 - 03:06 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Jyong Biotech Ltd.

(Name of Issuer)

Ordinary shares, par value $0.00001 per share

(Title of Class of Securities)

(CUSIP Number)

Fu-Feng Kuo
Perfect Minds Co., Ltd, No.4, Franky, Building, Providence Industrial Estate
Mahe, T2, 00000
886 933 490 754

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

06/16/2025

(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).

schemaVersion:

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

Perfect Minds Co., Ltd

2

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

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

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

6

Citizenship or place of organization

SEYCHELLES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 25,349,500.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 25,349,500.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

25,349,500.00

12

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

13

Percent of class represented by amount in Row (11)

33.34 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Includes 25,349,500 Ordinary Shares being held by Perfect Minds Co., Ltd. a Seychelles company ("Perfect Minds"). Perfect Minds is a wholly owned subsidiary of Innovation Global Group Limited, a BVI company ("IGGL"). IGGL is a wholly owned subsidiary of the Innovation Trust, a family discretionary trust for which Unity Trust Limited acts as professional trustee. Ms. Kuo Fu-Feng is the settlor of The Innovation Trust and serves as the sole director of Perfect Minds and as the Chief Executive Officer and Chairwoman of the Board of Directors of the issuer. For the avoidance of doubt, the Reporting Persons expressly disclaim that they constitute a "group" within the meaning of Section 13(d)(3) except to the extent expressly stated herein. The percentage set forth in row (13) is based on the Issuer's 76,027,667 Ordinary Shares outstanding on April 24, 2026.

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

Innovation Global Group Limited

2

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

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

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

6

Citizenship or place of organization

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

25,349,500.00

12

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

13

Percent of class represented by amount in Row (11)

33.34 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Includes 25,349,500 Ordinary Shares being held by Perfect Minds Co., Ltd. a Seychelles company ("Perfect Minds"). Perfect Minds is a wholly owned subsidiary of Innovation Global Group Limited, a BVI company ("IGGL"). IGGL is a wholly owned subsidiary of the Innovation Trust, a family discretionary trust for which Unity Trust Limited acts as professional trustee. Ms. Kuo Fu-Feng is the settlor of The Innovation Trust and serves as the sole director of Perfect Minds and as the Chief Executive Officer and Chairwoman of the Board of Directors of the issuer. For the avoidance of doubt, the Reporting Persons expressly disclaim that they constitute a "group" within the meaning of Section 13(d)(3) except to the extent expressly stated herein. The percentage set forth in row (13) is based on the Issuer's 76,027,667 Ordinary Shares outstanding on April 24, 2026.

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

Unity Trust Limited as trustee of The Innovation Trust

2

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

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

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

6

Citizenship or place of organization

HONG KONG

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

25,349,500.00

12

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

13

Percent of class represented by amount in Row (11)

33.34 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Includes 25,349,500 Ordinary Shares being held by Perfect Minds Co., Ltd. a Seychelles company ("Perfect Minds"). Perfect Minds is a wholly owned subsidiary of Innovation Global Group Limited, a BVI company ("IGGL"). IGGL is a wholly owned subsidiary of the Innovation Trust, a family discretionary trust for which Unity Trust Limited acts as professional trustee. Ms. Kuo Fu-Feng is the settlor of The Innovation Trust and serves as the sole director of Perfect Minds and as the Chief Executive Officer and Chairwoman of the Board of Directors of the issuer. For the avoidance of doubt, the Reporting Persons expressly disclaim that they constitute a "group" within the meaning of Section 13(d)(3) except to the extent expressly stated herein. The percentage set forth in row (13) is based on the Issuer's 76,027,667 Ordinary Shares outstanding on April 24, 2026.

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

Ms. Kuo Fu-Feng

2

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

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

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

6

Citizenship or place of organization

TAIWAN

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 25,349,500.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 25,349,500.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

25,349,500.00

12

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

13

Percent of class represented by amount in Row (11)

33.34 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Includes 25,349,500 Ordinary Shares being held by Perfect Minds Co., Ltd. a Seychelles company ("Perfect Minds"). Perfect Minds is a wholly owned subsidiary of Innovation Global Group Limited, a BVI company ("IGGL"). IGGL is a wholly owned subsidiary of he Innovation Trust, a family discretionary trust for which Unity Trust Limited acts as professional trustee. Ms. Kuo Fu-Feng is the settlor of The Innovation Trust and serves as the sole director of Perfect Minds and as the Chief Executive Officer and Chairwoman of the Board of Directors of the issuer. For the avoidance of doubt, the Reporting Persons expressly disclaim that they constitute a "group" within the meaning of Section 13(d)(3) except to the extent expressly stated herein. The percentage set forth in row (13) is based on the Issuer's 76,027,667 Ordinary Shares outstanding on April 24, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Ordinary shares, par value $0.00001 per share
(b)	Name of Issuer: Jyong Biotech Ltd.
(c)	Address of Issuer's Principal Executive Offices: 3F-3, No. 95, Section 1, Xintai 5th Road, Xizhi District, New Taipei City, TAIWAN , 221.
Item 2.	Identity and Background
(a)	This Schedule 13D is filed jointly by: Perfect Minds Co., Ltd., a company organized under the laws of Seychelles, with principal business address at No.4, Franky Building, Providence Industrial Estate, Mahe, Seychelles. Perfect Minds is a holding company and the direct holder of the securities reported herein.
(b)	Innovation Global Group Limited, a company organized under the laws of the British Virgin Islands, with principal business address at OMC Chambers, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands. IGGL is a holding company and the sole owner of Perfect Minds. Its sole director is Top Goal Management Limited (a corporate director service provided by the trustee).
(c)	The Innovation Trust, a family discretionary trust established under the laws of Hong Kong, with principal address at c/o Unity Trust Limited, 31/F., Tower Two, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong. Unity Trust Limited, solely in its capacity as professional trustee of The Innovation Trust, organized under the laws of Hong Kong, with principal business address at 31/F., Tower Two, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong. Ms. Kuo Fu-Feng, a natural person and the settlor of The Innovation Trust, the sole director of Perfect Minds and the Chief Executive Officer and Chairwoman of the Board of Directors of the issuer, with business address at D108, 3 F, No. 3, Ln. 166, Chongyang Rd, Taipei, Taiwan.
(d)	During the last five years, none of the Reporting Persons, nor, to the best of their knowledge, any executive officer, director, trustee, or controlling person of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	During the last five years, none of the Reporting Persons, nor, to the best of their knowledge, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction resulting in certain judgments, decrees, or final orders enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	Taiwan.
Item 3.	Source and Amount of Funds or Other Consideration
	The securities reported herein were acquired by Perfect Minds using funds in an aggregate amount of approximately $5,760,075, provided to Perfect Minds by Ms. Kuo Fu-Feng for such acquisition.
Item 4.	Purpose of Transaction
	The Reporting Persons hold the ordinary shares of the Issuer for investment purposes. Except as set forth above, the Reporting Person has no present plans or intentions which would result in or relate to any of the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	As of the date of this Schedule 13D, the Reporting Persons beneficially owns 25,349,500 ordinary shares of the Issuer, which represents 33.34% of the Issuer's ordinary shares, based on 76,027,667 outstanding ordinary shares as of April 21, 2026.
(b)	With respect to the securities reported herein, and subject to the footnotes below: Perfect Minds: sole voting power over 25,349,500 Ordinary Shares; sole dispositive power over 25,349,500 Ordinary Shares. IGGL: may be deemed to beneficially own 25,349,500 Ordinary Shares held by Perfect Minds by virtue of its ownership of Perfect Minds. IGGL has no voting power as to above shares. The Innovation Trust and Unity Trust Limited, as trustee: may be deemed to beneficially own 25,349,500 Ordinary Shares held by Perfect Minds through their ownership of IGGL and indirect ownership of Perfect Minds. The Innovation Trust and Unity Trust Limited, as trustee, have no voting power as to above shares. Ms. Kuo Fu-Feng: Ms. Kuo has sole voting and sole dispositive power over 25,349,500 Ordinary Shares by virtue of her authority to direct voting and investment decisions with respect to the securities held by Perfect Minds. Accordingly, Ms. Kuo may be deemed to beneficially own 25,349,500 shares under Rule 13d-3 of the Exchange Act. Each of IGGL, The Innovation Trust, Unity Trust Limited (solely in its trustee capacity) and Ms. Kuo disclaims beneficial ownership of the securities reported herein except to the extent of its or her pecuniary interest therein. The filing of this Schedule 13D shall not be construed as an admission that any such person is, for purposes of Section 13(d) or 13(g) of the Exchange Act, the beneficial owner of any securities covered by this Statement.
(c)	Not applicable.
(d)	Not applicable.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Except as set forth elsewhere in this Schedule 13D, there are no contracts, arrangements, understandings or relationships among the persons named in Item 2 and between such persons and any other person with respect to any securities of the Issuer.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1: Joint Filing Agreement by and among the Reporting Persons, dated as of April 24, 2026.

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.

Perfect Minds Co., Ltd

Signature:	/s/ Kuo Fu-Feng
Name/Title:	Kuo Fu-Feng, Director
Date:	04/24/2026

Innovation Global Group Limited

Signature:	/s/ Choa Kin Wai
Name/Title:	CHOA Kin Wai, Director of Top Goal Management Limited, the Sole Director of Innovation Global Group Limited
Date:	04/24/2026

Unity Trust Limited as trustee of The Innovation Trust

Signature:	/s/ Choa Kin Wai
Name/Title:	Choa Kin Wai, Director
Date:	04/24/2026

Ms. Kuo Fu-Feng

Signature:	/s/ Kuo Fu-Feng
Name/Title:	Kuo Fu-Feng, Self
Date:	04/24/2026