Near-total control: Sharing Services Global (SHRG) holders report 99.8% stake

Rhea-AI Filing Summary

Sharing Services Global Corp received an updated ownership report showing that a group led by Heng Fai Ambrose Chan now beneficially owns about 99.8% of the common stock, or 110,934,290 shares, calculated under SEC rules against 309,652 shares outstanding as of January 20, 2026. This total includes shares and significant amounts issuable from debt and warrants held through entities Mr. Chan controls, such as Alset Inc. and HWH International Inc.

Recently, the issuer issued three convertible promissory notes to HWH International Inc. for $150,000, $40,000 and $120,000, each convertible into common stock at $0.006 per share for three years. The reporting persons indicate they may discuss strategy, governance, capitalization and potential further share acquisitions with the company’s board, management and other stockholders.

Insights

Corporate governance and control analyst

Chan-led group discloses near-total economic control via shares and convertibles.

The report shows a group led by Heng Fai Ambrose Chan beneficially owning about 99.8% of Sharing Services Global Corp common stock under SEC Rule 13d-3, tied to 110,934,290 shares against 309,652 shares outstanding as of January 20, 2026. This stake is held directly and through entities such as Alset Inc., HWH International Inc., Alset International Limited and others that Mr. Chan controls.

A key element is the use of convertible instruments. HWH International Inc. holds debt and warrants convertible into 108,303,573 shares, and the issuer recently issued three additional convertible notes for $150,000, $40,000 and $120,000 at a conversion price of $0.006 per share, each maturing three years from issuance. The group states it may discuss business strategy, governance and capitalization with the board and could acquire more securities, so future company disclosures will show how this concentrated control is exercised over time.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 6)

SHARING SERVICES GLOBAL Corp

(Name of Issuer)

COMMON STOCK, $0.0001 PAR VALUE

(Title of Class of Securities)

819536103

(CUSIP Number)

Chan Heng Fai
9 Temasek Boulevard #16-04, Suntec Tower Two
Singapore, U0, 038989
011 65 6333 9181

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

12/10/2025

(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).

SCHEDULE 13D

CUSIP No. 819536103

1

Name of reporting person

Heng Fai Ambrose Chan

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

SINGAPORE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 40,984.00
8	Shared Voting Power 110,934,290.00
9	Sole Dispositive Power 40,984.00
10	Shared Dispositive Power 110,934,290.00

11

Aggregate amount beneficially owned by each reporting person

110,934,290.00

12

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

13

Percent of class represented by amount in Row (11)

99.8 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Mr. Heng Fai Ambrose Chan; Heng Fai Holdings Limited; Alset Inc.; HWH International Inc.; Alset International Limited; and Global Biomedical Pte. Ltd. are members of a group for the purpose of this Schedule 13D. The figure set forth above includes (i) 86 shares held by Heng Fai Holdings Limited; (ii) 2,550,305 shares held by Alset Inc. (including debt of the Issuer which may be converted into 2,500,000 shares of the Issuer's common stock); (iii) debt and warrants of the Issuer held by HWH International Inc., which may be converted into 108,303,573 shares of the Issuer; (iv) 30,524 shares held by Alset International Limited; (v) 8,904 shares held by Global Biomedical Pte. Ltd.; and (vi) 40,274 shares held by Mr. Chan personally. Mr. Heng Fai Ambrose Chan is: (i) the sole director and sole shareholder of Heng Fai Holdings Limited; (ii) the Chief Executive Officer and Chairman of the Board of Directors of Alset Inc.; (iii) the Chief Executive Officer and Chairman of the Board of Directors of HWH International Inc.; (iv) the group Chief Executive Officer of Alset International Limited; and (v) Director of Global Biomedical Pte. Ltd. Accordingly, due to his interest in, and control over these entities, Mr. Chan indirectly holds beneficial interest in shares of the Issuer owned by such entities, and can exercise common control over the voting powers of these shares of the Issuer. This percentage is calculated based upon 309,652 outstanding shares of the Issuer as of January 20, 2026.

SCHEDULE 13D

CUSIP No. 819536103

1

Name of reporting person

Heng Fai Holdings 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

HONG KONG

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 86.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 86.00

11

Aggregate amount beneficially owned by each reporting person

86.00

12

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

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Mr. Heng Fai Ambrose Chan; Heng Fai Holdings Limited; Alset Inc.; HWH International Inc.; Alset International Limited; and Global Biomedical Pte. Ltd. are members of a group for the purpose of this Schedule 13D. Mr. Heng Fai Ambrose Chan is the sole director and sole shareholder of Heng Fai Holdings Limited, accordingly, due to his interest in, and control over Heng Fai Holdings Limited, Mr. Chan indirectly holds beneficial interest in shares of the Issuer owned by Heng Fai Holdings Limited, and can exercise common control over the voting powers of these shares of the Issuer. This percentage is calculated based upon 309,652 outstanding shares of the Issuer as of January 20, 2026.

SCHEDULE 13D

CUSIP No. 819536103

1

Name of reporting person

Alset Inc.

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

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 110,893,306.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 110,893,306.00

11

Aggregate amount beneficially owned by each reporting person

110,893,306.00

12

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

13

Percent of class represented by amount in Row (11)

99.8 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Mr. Heng Fai Ambrose Chan; Heng Fai Holdings Limited; Alset Inc.; HWH International Inc.; Alset International Limited; and Global Biomedical Pte. Ltd. are members of a group for the purpose of this Schedule 13D. Comprises (i) 2,550,305 shares held by Alset Inc. (including debt of the Issuer which may be converted into 2,500,000 shares of the Issuer's common stock); (ii) debt and warrants of the Issuer held by HWH International Inc., which may be converted into 108,303,573 shares of the Issuer; (iii) 30,524 shares held by Alset International Limited; and (iv) 8,904 shares held by Global Biomedical Pte. Ltd. Alset Inc. has voting and dispositive control over HWH International Inc., Alset International Limited and Global Biomedical Pte. Ltd. This percentage is calculated based upon 309,652 outstanding shares of the Issuer as of January 16, 2025.

SCHEDULE 13D

CUSIP No. 819536103

1

Name of reporting person

HWH International Inc.

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 108,303,573.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 108,303,573.00

11

Aggregate amount beneficially owned by each reporting person

108,303,573.00

12

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

13

Percent of class represented by amount in Row (11)

99.7 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Mr. Heng Fai Ambrose Chan; Heng Fai Holdings Limited; Alset Inc.; HWH International Inc.; Alset International Limited; and Global Biomedical Pte. Ltd. are members of a group for the purpose of this Schedule 13D. Comprises debt and warrants of the Issuer held by HWH International Inc. convertible into 108,303,573 shares of the Issuer's common stock. This percentage is calculated based upon 309,652 outstanding shares of the Issuer as of January 20, 2026.

SCHEDULE 13D

CUSIP No. 819536103

1

Name of reporting person

Alset International 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

SINGAPORE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 39,428.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 39,428.00

11

Aggregate amount beneficially owned by each reporting person

39,428.00

12

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

13

Percent of class represented by amount in Row (11)

12.7 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Mr. Heng Fai Ambrose Chan; Heng Fai Holdings Limited; Alset Inc.; HWH International Inc.; Alset International Limited; and Global Biomedical Pte. Ltd. are members of a group for the purpose of this Schedule 13D. Comprises (i) 30,524 shares held by Alset International Limited, and (ii) 8,904 shares held by Global Biomedical Pte. Ltd. Alset International Limited has voting and dispositive control over Global Biomedical Pte. Ltd. This percentage is calculated based upon 309,652 outstanding shares of the Issuer as of January 20, 2026.

SCHEDULE 13D

CUSIP No. 819536103

1

Name of reporting person

Global Biomedical Pte. 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

SINGAPORE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 8,904.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 8,904.00

11

Aggregate amount beneficially owned by each reporting person

8,904.00

12

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

13

Percent of class represented by amount in Row (11)

2.8 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Mr. Heng Fai Ambrose Chan; Heng Fai Holdings Limited; Alset Inc.; HWH International Inc.; Alset International Limited; and Global Biomedical Pte. Ltd. are members of a group for the purpose of this Schedule 13D. This percentage is calculated based upon 309,652 outstanding shares of the Issuer as of January 20, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: COMMON STOCK, $0.0001 PAR VALUE
(b)	Name of Issuer: SHARING SERVICES GLOBAL Corp
(c)	Address of Issuer's Principal Executive Offices: 5200 TENNYSON PKWY #400, Plano, TEXAS , 75024.
Item 2.	Identity and Background
(a)	Heng Fai Ambrose Chan
(b)	9 Temasek Boulevard #16-04, Suntec Tower Two, Singapore 038989
(c)	Chief Executive Officer - Alset International Limited
(d)	None.
(e)	None.
(f)	Singapore
Item 3.	Source and Amount of Funds or Other Consideration
	The information set forth in Item 4 hereof is incorporated by reference in its entirety into this Item 3.
Item 4.	Purpose of Transaction
	On December 10, 2025, the Issuer issued a convertible promissory note to HWH International Inc. ("HWH") in the amount of $150,000. This note is convertible into the Issuer's common stock at $0.006 per share at HWH's option until the maturity of the convertible note three (3) years from the date thereof. On January 2, 2026, the Issuer issued a convertible promissory note to HWH in the amount of $40,000. This note is convertible into the Issuer's common stock at $0.006 per share at HWH's option until the maturity of the convertible note three (3) years from the date thereof. On January 8, 2026, the Issuer issued a convertible promissory note to HWH in the amount of $120,000. This note is convertible into the Issuer's common stock at $0.006 per share at HWH's option until the maturity of the convertible note three (3) years from the date thereof. Mr. Heng Fai Ambrose Chan ("Mr. Chan") is: (i) the sole Director and sole Shareholder of Heng Fai Holdings Limited; (ii) the Chief Executive Officer and Chairman of the Board of Directors of Alset Inc.; (iii) the Chairman of the Board of Directors and Chief Executive Officer of HWH International Inc.; (iv) the Group Chief Executive Officer of Alset International Limited; and (v) the Director of Global Biomedical Pte. Ltd. Accordingly, due to his interest in, and control over these entities, Mr. Chan indirectly holds beneficial interest in shares of the Issuer's common stock owned by such entities, and can exercise common control over the voting powers of these shares. The Reporting Persons, either directly or indirectly through Mr. Chan, may engage in discussions from time to time with the Issuer's Board of Directors, the Issuer's management or the Issuer's other stockholders. These discussions may be with respect to (i) acquiring or disposing of the shares of Common Stock or other securities of the Issuer; (ii) maintaining or changing the Issuer's business, operations, governance, management, strategy or capitalization; or (iii) implementing transactions that may relate to or may result in any matter set forth in paragraphs (a) through (j) of Item 4 of Schedule 13D. Additionally, the Reporting Persons may acquire additional securities of the Issuer through open market transactions, privately negotiated transactions or other methods. Except as described in Item 6 and this Item 4 and any plans or proposals that may from time to time be discussed or considered by the directors of the Issuer, including Mr. Chan in his fiduciary capacity as a director of the Issuer, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in in paragraphs (a) through (j) of Item 4 of Schedule 13D. The Reporting Persons intend to review their investment in the Issuer from time to time on the basis of various factors, including the Issuer's business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for the Issuer's stock in particular, as well as other developments.
Item 5.	Interest in Securities of the Issuer
(a)	The information set forth in rows 7 through 13 of the cover pages to this Schedule 13D is incorporated by reference. The percentage set forth in row 13 is based on 309,652 shares of Common Stock outstanding as of January 20, 2026, as reported by the Issuer to the Reporting Persons. The percentages of beneficial ownership were determined in accordance with Rule 13d-3 of the Securities Exchange Act of 1934, as amended. Information with respect to all transactions in the Shares beneficially owned by the Reporting Persons that were effected during the past sixty days is set forth in Item 4 and incorporated herein by reference.
(b)	The information set forth in rows 7 through 13 of the cover pages to this Schedule 13D is incorporated by reference. The percentage set forth in row 13 is based on 309,652 shares of Common Stock outstanding as of January 20, 2026, as reported by the Issuer to the Reporting Persons. The percentages of beneficial ownership were determined in accordance with Rule 13d-3 of the Securities Exchange Act of 1934, as amended. Information with respect to all transactions in the Shares beneficially owned by the Reporting Persons that were effected during the past sixty days is set forth in Item 4 and incorporated herein by reference.
(c)	There were no other transactions effected in the last 60 days by the Reporting Person except for the transactions which are the subject of this Schedule 13D.
(d)	Not applicable.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	The information set forth in Item 4 hereof is incorporated by reference in its entirety into this Item 6. Other than the relationship as set out in Item 4 hereof, there are no other contracts, arrangements, understandings or relationships with respect to the Issuer's securities, among the Reporting Persons.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1 - Joint Filing Agreement dated January 28, 2025

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.

Heng Fai Ambrose Chan

Signature:	/s/ Heng Fai Ambrose Chan
Name/Title:	Heng Fai Ambrose Chan/An individual
Date:	01/20/2026

Heng Fai Holdings Limited

Signature:	/s/ Heng Fai Ambrose Chan
Name/Title:	Heng Fai Ambrose Chan, Director
Date:	01/20/2026

Alset Inc.

Signature:	/s/ Heng Fai Ambrose Chan
Name/Title:	Heng Fai Ambrose Chan/Chief Executive Officer
Date:	01/20/2026

HWH International Inc.

Signature:	/s/ Rongguo Wei
Name/Title:	Rongguo Wei/Chief Financial Officer
Date:	01/20/2026

Alset International Limited

Signature:	/s/ Heng Fai Ambrose Chan
Name/Title:	Heng Fai Ambrose Chan/Chief Executive Officer
Date:	01/20/2026

Global Biomedical Pte. Ltd.

Signature:	/s/ Heng Fai Ambrose Chan
Name/Title:	Heng Fai Ambrose Chan/Director
Date:	01/20/2026

FAQ

What percentage of Sharing Services Global (SHRG) does the Chan group report owning?

The reporting group led by Heng Fai Ambrose Chan reports beneficial ownership of about 99.8% of Sharing Services Global Corp common stock, representing 110,934,290 shares based on 309,652 shares outstanding as of January 20, 2026.

How many Sharing Services Global (SHRG) shares are tied to HWH International Inc. debt and warrants?

The filing states that debt and warrants of the issuer held by HWH International Inc. are convertible into 108,303,573 shares of Sharing Services Global Corp common stock, which are included in the group’s reported beneficial ownership.

What new convertible notes did Sharing Services Global issue to HWH International Inc.?

Sharing Services Global Corp issued three convertible promissory notes to HWH International Inc.: $150,000 on December 10, 2025, $40,000 on January 2, 2026, and $120,000 on January 8, 2026, each convertible at $0.006 per share for three years from the date of issuance.

How does Heng Fai Ambrose Chan control the various entities holding SHRG securities?

The filing explains that Heng Fai Ambrose Chan is the sole director and shareholder of Heng Fai Holdings Limited, Chief Executive Officer and Chairman of Alset Inc. and HWH International Inc., Group CEO of Alset International Limited, and a director of Global Biomedical Pte. Ltd., giving him indirect beneficial interest and common voting power over their Sharing Services Global holdings.

How many shares of Sharing Services Global (SHRG) are outstanding in this Schedule 13D/A?

The report states that the ownership percentages are calculated based on 309,652 shares of Sharing Services Global Corp common stock outstanding as of January 20, 2026, as reported to the filing parties.

Can the Chan-led group change its position in Sharing Services Global (SHRG)?

Yes. The filing notes that the reporting persons, directly or indirectly through Mr. Chan, may acquire additional securities or dispose of shares and may discuss potential changes to the issuer’s business, operations, governance, strategy or capitalization with the board, management or other stockholders.