Schedule 13G: Muchun Zhu Reports 5.16M Shares (19.36%) in Intercont NCT

Rhea-AI Filing Summary

Intercont (Cayman) Ltd Schedule 13G discloses that Muchun Zhu beneficially owns 5,164,951 ordinary shares, representing 19.36% of the outstanding share class. The holding is held through two BVI companies: Beverly Holding Limited (4,256,243 shares) and Eascor Holding Limited (908,708 shares), of which Mr. Zhu is sole director and 100% owner. The filing states Mr. Zhu has sole voting and dispositive power over all reported shares, with no shared voting or dispositive power. The percent is calculated based on 26,675,001 ordinary shares issued and outstanding as stated in the filing.

Positive

• Material stake disclosed: Beneficial ownership of 5,164,951 shares, equal to 19.36% of the class.
• Clear ownership structure: Shares held through two BVI entities (Beverly Holding Limited and Eascor Holding Limited) wholly owned and directed by Muchun Zhu.
• Exclusive control: Reporting person declares sole voting and dispositive power over all reported shares.

Negative

• None.

Insights

Financial Analyst

TL;DR: A single individual holds a material 19.36% stake via controlled BVI entities, concentrating ownership and influence.

The disclosed 5.16 million-share position equals a near-20% stake, which is material for equity holders and may affect liquidity and potential corporate decisions. The filing makes clear the shares are held through two wholly owned BVI subsidiaries, and Mr. Zhu retains sole voting and dispositive power, implying direct control of voting outcomes for this block. For analysts, this alters free float calculations and could influence takeover dynamics or shareholder negotiations.

Corporate Governance Expert

TL;DR: Ownership structure shows centralized control through two controlled entities, raising governance and minority-protection considerations.

The report documents ownership via Beverly Holding Limited and Eascor Holding Limited with Mr. Zhu as sole director and 100% owner of each, indicating clear attribution of control. Sole voting and dispositive power over 19.36% is significant for board voting power and governance outcomes. The filing contains no indication of agreements, shared voting arrangements, or group members, and does not report holdings on behalf of others.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Intercont (Cayman) Ltd

(Name of Issuer)

Ordinary Shares

(Title of Class of Securities)

G48049103

(CUSIP Number)

03/27/2025

(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)

SCHEDULE 13G

CUSIP No. G48049103

1

Names of Reporting Persons

Muchun Zhu

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

CHINA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,164,951.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,164,951.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,164,951.00

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)

19.36 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Intercont (Cayman) Ltd
(b)	Address of issuer's principal executive offices: Room 1102, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong, F4
Item 2.
(a)	Name of person filing: Muchun Zhu
(b)	Address or principal business office or, if none, residence: No.18-1, Tonghuai Street, Moling Subdistrict, Jiangning District, Nanjing City, Jiangsu Province, China
(c)	Citizenship: Peoples Republic of China
(d)	Title of class of securities: Ordinary Shares
(e)	CUSIP No.: G48049103
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: 5,164,951 ordinary shares, including 4,256,243 ordinary shares held by Beverly Holding Limited, a BVI Business Company, and 908,708 ordinary shares held by Eascor Holding Limited, a BVI Business Company. Muchun Zhu is the sole director of, and owns 100% of the shares of, each of Beverly Holding Limited and Eascor Holding Limited.
(b)	Percent of class: 19.36% (based upon 26,675,001 ordinary shares of Intercont (Cayman) Ltd issued and outstanding as of August 20, 2025)
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 5,164,951
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 5,164,951
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	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:
	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.

Muchun Zhu

Signature:	/s/ Muchun Zhu
Name/Title:	Muchun Zhu
Date:	08/26/2025

FAQ

How many Intercont (Cayman) Ltd (NCT) shares does Muchun Zhu beneficially own?

The filing reports 5,164,951 ordinary shares beneficially owned by Muchun Zhu.

What percentage of Intercont (Cayman) Ltd does Muchun Zhu own?

The reported stake represents 19.36% of the ordinary shares based on 26,675,001 shares outstanding as stated in the filing.

Through which entities are the shares held?

Shares are held through Beverly Holding Limited (4,256,243 shares) and Eascor Holding Limited (908,708 shares), both BVI companies wholly owned by Muchun Zhu.

Does Muchun Zhu share voting or dispositive power over the reported shares?

No. The filing states Mr. Zhu has sole voting power and sole dispositive power over all 5,164,951 reported shares.

Are there any group members or shares held on behalf of others noted in the filing?

No. The filing indicates not applicable for group members and states ownership is not on behalf of another person.