Sun Weilin (NAAS) discloses multi-class share stakes and options
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
NaaS Technology Inc. director Sun Weilin filed an initial ownership report showing existing equity interests rather than new trades. He holds stock options directly over 713,600 and 8,905,600 underlying Class A ordinary shares at very low exercise prices, with expirations in 2033 and 2032.
Indirectly, entities linked to him hold 11,915,840,000 Class A ordinary shares, 195,969,844 Class B shares, 1,111,577,928 Class C shares, and 16,000,000 Class D shares. Footnotes state he disclaims beneficial ownership of many of these holdings except for his stated pecuniary interests, and some share classes are convertible into Class A ordinary shares subject to conditions.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
Sun Weilin
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock options | -- | -- | -- |
| holding | Stock options | -- | -- | -- |
| holding | Class A ordinary shares | -- | -- | -- |
| holding | Class B ordinary shares | -- | -- | -- |
| holding | Class C ordinary shares | -- | -- | -- |
| holding | Class D ordinary shares | -- | -- | -- |
Holdings After Transaction:
Stock options — 713,600 shares (Direct);
Class A ordinary shares — 11,915,840,000 shares (Indirect, By Newlink Envision Limited and Newlink Linkage Limited);
Class B ordinary shares — 195,969,844 shares (Indirect, By Newlink Envision Limited and Newlinks Technology Limited);
Class C ordinary shares — 1,111,577,928 shares (Indirect, By Newlink Envision Limited and Newlinks Technology Limited);
Class D ordinary shares — 16,000,000 shares (Indirect, By Newlink Envision Limited)
Footnotes (1)
- Consists of (i) 6,520,000,000 Class A ordinary shares of NaaS Technology Inc. (the "Issuer") held by Newlink Envision Limited ("Envision"), a wholly-owned subsidiary of Newlinks Technology Limited ("Newlinks") and (ii) 5,395,840,000 Class A ordinary shares of Issuer held by Newlink Linkage Limited ("Linkage"), representing the portion of the 6,400,000,000 Class A ordinary shares of the Issuer held by Linkage that corresponds to Newlinks' 84.31% equity interest in Linkage. Newlinks is 1.92% owned by Phoenix Sun Luck Tech Limited, which is fully controlled and beneficially owned by the reporting person. The reporting person serves as a director of Newlinks.The reporting person disclaims beneficial ownership of the shares held by Newlinks, except to the extent of his pecuniary interest therein. Each Class B ordinary share of the Issuer is convertible into one Class A ordinary share of the Issuer at any time by the holder thereof, subject to certain conditions. Consists of (i) 37,848,450 Class B ordinary shares of the Issuer held by Newlinks and (ii) 158,121,394 Class B ordinary shares of the Issuer held by Envision. Based on shareholders' resolutions of Newlinks, the reporting person does not control any of the Class B ordinary shares of the Issuer held by Newlinks. Therefore, the reporting person disclaims beneficial ownership of the shares held by Newlinks, except to the extent of his pecuniary interest therein, if any. Each Class C ordinary share of the Issuer is convertible into one Class A ordinary share of the Issuer at any time by the holder thereof, subject to certain conditions. Consists of (i) 212,694,390 Class C ordinary shares of the Issuer held by Newlinks and (ii) 898,883,538 Class C ordinary shares of the Issuer held by Envision. Based on shareholders' resolutions of Newlinks, the reporting person controls 2.31% of the Class C ordinary shares of the Issuer held by Newlinks.Therefore, the reporting person disclaims beneficial ownership of the shares held by Newlinks, except to the extent of his pecuniary interest therein, if any. Class D ordinary shares of the Issuer are not convertible into any Class A ordinary shares of the issuer or any other class of share issued by the Company. Represents Class D ordinary shares of the Issuer held by Envision, which is wholly owned by Newlinks. The reporting person disclaims beneficial ownership of the shares held by Newlinks, except to the extent of his 1.92% proportionate pecuniary interest therein. The stock options became exercisable in monthly installments of 44,800 shares for each month from November 15, 2023 through December 15, 2024, and a final installment of 86,400 shares on January 15, 2025. The stock options became exercisable as to 2,966,400 Class A ordinary shares of Issuer on Dec 12, 2017, 2,966,400 Class A ordinary shares of Issuer on Dec 12, 2018, and 2,972,800 Class A ordinary shares of Issuer on Dec 12, 2019. The exercise price of the stock option is US$0.00005 per share. The exercise price of the stock option is US$0.00000305 per share.
Key Figures
Stock options underlying shares: 713,600 Class A ordinary shares
Stock options underlying shares: 8,905,600 Class A ordinary shares
Indirect Class A holdings: 11,915,840,000 Class A ordinary shares
+5 more
8 metrics
Stock options underlying shares
713,600 Class A ordinary shares
Underlying stock options expiring on 2033-09-30
Stock options underlying shares
8,905,600 Class A ordinary shares
Underlying stock options expiring on 2032-01-31
Indirect Class A holdings
11,915,840,000 Class A ordinary shares
Held by Newlink Envision Limited and Newlink Linkage Limited
Indirect Class B holdings
195,969,844 Class B ordinary shares
Held by Newlinks and Envision
Indirect Class C holdings
1,111,577,928 Class C ordinary shares
Held by Newlinks and Envision
Indirect Class D holdings
16,000,000 Class D ordinary shares
Held by Envision, wholly owned by Newlinks
Option exercise price
<money>US$0.00005</money> per share
Exercise price of one stock option grant
Option exercise price
<money>US$0.00000305</money> per share
Exercise price of another stock option grant
Key Terms
beneficial ownership, pecuniary interest, Class B ordinary shares, Class C ordinary shares, +2 more
6 terms
beneficial ownership financial
"The reporting person disclaims beneficial ownership of the shares held by Newlinks, except to the extent of his pecuniary interest therein"
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.
pecuniary interest financial
"disclaims beneficial ownership of the shares held by Newlinks, except to the extent of his 1.92% proportionate pecuniary interest therein"
stock options financial
"The stock options became exercisable in monthly installments of 44,800 shares"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
convertible financial
"Each Class B ordinary share of the Issuer is convertible into one Class A ordinary share"
A convertible is a type of investment that starts as a loan or preferred stake (like a bond or preferred share) but can be exchanged for common shares of the company at a set price or under certain conditions. It matters to investors because it offers a mix of steady income and downside protection like a loan, plus the upside of stock ownership if the company does well—similar to holding a coupon that you can trade for a full ticket if the event becomes valuable.
FAQ
What does Sun Weilin’s Form 3 filing for NaaS (NAAS) show?
The filing reports Sun Weilin’s existing ownership in NaaS, including direct stock options and large indirect holdings through entities like Newlink Envision and Newlinks. It is an initial ownership statement and does not report new buy or sell transactions.
How many NaaS stock options does Sun Weilin report on this Form 3?
He reports stock options over 713,600 and 8,905,600 underlying Class A ordinary shares. These options carry very low exercise prices and long expirations, reflecting previously granted equity incentives rather than recent market purchases.
Does this NaaS Form 3 indicate insider buying or selling activity?
No buy or sell transactions are reported. All entries are marked as holdings with unknown transaction codes, and the transaction summary shows zero buys, zero sells, and only holding entries, indicating disclosure of existing positions rather than new market activity.
NaaS Technology ADR