[SCHEDULE 13G/A] Yalla Group Limited American SEC Filing

Rhea-AI Filing Summary

Schedule 13G/A (Amendment No. 5) for Yalla Group Ltd (NASDAQ: YALA) discloses that a group of Orchid Asia–affiliated entities and their ultimate controller, Ms. Lam Lai Ming, continue to hold a large minority position in the company’s Class A ordinary shares as of 30 Jun 2025.

• Aggregate beneficial ownership: 25,775,661 Class A shares, equal to 19.2 % of the outstanding class, reported jointly by nine related reporting persons.
• Key holders within the group include Orchid Asia VII, L.P. and its affiliates with 23,971,365 shares (17.8 %), and Jolly Unique Ltd. & AREO Holdings Ltd. each reflecting the full 25.8 million-share position through shared voting/dispositive power.
• The organizational chain shows control cascading from the Orchid Asia funds up to AREO Holdings Ltd., which is wholly owned by Ms. Lam Lai Ming.
• All reporting persons indicate 0 sole voting/dispositive power; voting and disposal rights are held on a shared basis within the group.
• No certifications under Rule 13d-1(b) were required; the filing is made pursuant to Rule 13d-1(d), indicating passive ownership.

The amendment does not state any share purchases or sales since the prior filing; it solely updates ownership percentages relative to current shares outstanding.

Positive

• High insider-style alignment: Orchid Asia funds and Ms. Lam continue to own 19.2 % of YALA, signalling ongoing commitment.

Negative

• Potential share-sale overhang: Large private-equity block could pressure the stock if the group decides to exit.
• Concentrated control risk: Nearly one-fifth ownership gives the group outsized governance influence with limited transparency.

Insights

Equity Research Analyst

TL;DR – 19.2 % stake by Orchid Asia funds remains intact; no transaction, limited near-term impact.

The filing confirms that Orchid Asia’s investment complex, ultimately controlled by Ms. Lam Lai Ming, still holds nearly one-fifth of YALA’s Class A float. Because the group reports shared rather than sole voting power, the shares appear pooled across multiple fund vehicles, suggesting coordinated governance influence but limiting unilateral action by any single entity. No new acquisitions or dispositions are disclosed, so the amendment mainly refreshes ownership percentages post share-count changes. For investors, continued significant inside-style ownership can be viewed as alignment of interests, yet it also represents an overhang should the funds choose to exit. Overall impact on near-term valuation or liquidity is neutral.

Corporate Governance Specialist

TL;DR – Concentrated 19 % block implies material governance sway, but structure disperses accountability.

With 25.8 million shares held through nine inter-related offshore vehicles, Orchid Asia can materially influence shareholder votes, particularly given Yala’s dual-class structure. The absence of sole voting rights signals collective decision-making across entities, which may complicate activism or board negotiations. Ms. Lam’s ultimate control underscores a single-person influence channel despite the layered entities. No change triggers were cited, so governance dynamics remain status quo. Impact: moderate but not new.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Yalla Group Ltd

(Name of Issuer)

Class A Ordinary Shares, par value US$0.0001 per share

(Title of Class of Securities)

98459U103

(CUSIP Number)

06/30/2025

(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. 98459U103

1

Names of Reporting Persons

AREO HOLDINGS LTD

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

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 25,775,661.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 25,775,661.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

25,775,661.00

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)

19.2 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 98459U103

1

Names of Reporting Persons

JOLLY UNIQUE 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

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 25,775,661.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 25,775,661.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

25,775,661.00

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)

19.2 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 98459U103

1

Names of Reporting Persons

ORCHID ASIA VII, L.P.

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 23,971,365.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 23,971,365.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

23,971,365.00

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)

17.8 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 98459U103

1

Names of Reporting Persons

ORCHID ASIA VII CO-INVESTMENT, 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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,804,296.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,804,296.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,804,296.00

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)

1.3 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 98459U103

1

Names of Reporting Persons

OAVII HOLDINGS, L.P.

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 23,971,365.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 23,971,365.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

23,971,365.00

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)

17.8 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 98459U103

1

Names of Reporting Persons

ORCHID ASIA VII GP, 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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 23,971,365.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 23,971,365.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

23,971,365.00

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)

17.8 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 98459U103

1

Names of Reporting Persons

ORCHID ASIA V GROUP MANAGEMENT, 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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 23,971,365.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 23,971,365.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

23,971,365.00

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)

17.8 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 98459U103

1

Names of Reporting Persons

ORCHID ASIA V GROUP, 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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 23,971,365.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 23,971,365.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

23,971,365.00

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)

17.8 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 98459U103

1

Names of Reporting Persons

LAM LAI MING

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 0.00
6	Shared Voting Power 25,775,661.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 25,775,661.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

25,775,661.00

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)

19.2 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Yalla Group Ltd
(b)	Address of issuer's principal executive offices: #226, BUILDING 16, #226, BUILDING 16, DUBAI, UNITED ARAB EMIRATES, 501913.
Item 2.
(a)	Name of person filing: This Schedule 13G (the "Schedule 13G") is being jointly filed by the following persons (collectively, the "Reporting Persons" and each a "Reporting Person"): (i) Jolly Unique Limited; (ii) Orchid Asia VII, L.P.; (iii) Orchid Asia VII Co-Investment, Limited; (iv) OAVII Holdings, L.P.; (v) Orchid Asia VII GP, Limited; (vi) Orchid Asia V Group Management, Limited; (vii) Orchid Asia V Group, Limited; (viii) AREO Holdings Limited; and (ix) Ms. Lam Lai Ming
(b)	Address or principal business office or, if none, residence: The address of principal business office of Jolly Unique Limited and AREO Holdings Limited is: c/o Vistra Corporate Services Centre Wickhams Cay II, Road Town Tortola, VG 1110, British Virgin Islands The address of principal business office of Orchid Asia VII, L.P., OAVII Holdings, L.P., Orchid Asia VII GP, Limited, Orchid Asia V Group Management, Limited, Orchid Asia V Group, Limited is: c/o Maples Corporate Services Limited PO Box 309, Ugland House Grand Cayman, KY1-1104 Cayman Islands The address of principal business office of Orchid Asia VII Co-Investment, Limited is: c/o Vistra (Cayman) Limited, P. O. Box 31119, Grand Pavilion, Hibiscus Way, 802 West Bay Road, Grand Cayman, KY1-1205 Cayman Islands The address of principal business office of Ms. Lam Lai Ming is: c/o Suite 5612, 56th Floor, The Center, 99 Queen's Road Central, Central, Hong Kong.
(c)	Citizenship: The citizenship or place of organization of each of the Reporting Persons is set forth on such Reporting Person's cover page.
(d)	Title of class of securities: Class A Ordinary Shares, par value US$0.0001 per share
(e)	CUSIP No.: 98459U103
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: The information set forth in Rows 5 through 11 of the cover pages to this Schedule 13G is incorporated herein by reference for each Reporting Person.
(b)	Percent of class: The information set forth in Rows 5 through 11 of the cover pages to this Schedule 13G is incorporated herein by reference for each Reporting Person.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information set forth in Rows 5 through 11 of the cover pages to this Schedule 13G is incorporated herein by reference for each Reporting Person.
	(ii) Shared power to vote or to direct the vote: The information set forth in Rows 5 through 11 of the cover pages to this Schedule 13G is incorporated herein by reference for each Reporting Person.
	(iii) Sole power to dispose or to direct the disposition of: The information set forth in Rows 5 through 11 of the cover pages to this Schedule 13G is incorporated herein by reference for each Reporting Person.
	(iv) Shared power to dispose or to direct the disposition of: The information set forth in Rows 5 through 11 of the cover pages to this Schedule 13G is incorporated herein by reference for each Reporting Person.
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.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Jolly Unique Limited, Orchid Asia VII, L.P. and Orchid Asia VII Co-Investment, Limited are part of Orchid Asia V Group, Limited, an investment complex that focuses on companies in Asia and China in particular. Orchid Asia VII, L.P. and Orchid Asia VII-Co Investment, Limited are the immediate shareholders of Jolly Unique Limited. OAVII Holdings, L.P. is the general partner of Orchid Asia VII, L.P. Orchid Asia VII GP, Limited is the general partner of OAVII Holdings, L.P. which is in turned a wholly owned subsidiary of Orchid Asia V Group Management, Limited. Orchid Asia V Group Management Ltd. is a wholly-owned subsidiary of Orchid Asia V Group, Limited and is also the investment manager of Orchid Asia VII, L.P. Orchid Asia V Group, Limited is a wholly-owned subsidiary of AREO Holdings Limited. AREO Holdings Limited is wholly-owned by Ms. Lam Lai Ming. AREO Holdings Limited is also the controlling shareholder of Orchid Asia VII Co-Investment, Limited.
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.

AREO HOLDINGS LTD

Signature:	Gabriel Li
Name/Title:	Authorized Representative
Date:	08/06/2025

JOLLY UNIQUE LIMITED

Signature:	Gabriel Li
Name/Title:	Authorized Representative
Date:	08/06/2025

ORCHID ASIA VII, L.P.

Signature:	Gabriel Li
Name/Title:	Authorized Representative
Date:	08/06/2025

ORCHID ASIA VII CO-INVESTMENT, LIMITED

Signature:	Gabriel Li
Name/Title:	Authorized Representative
Date:	08/06/2025

OAVII HOLDINGS, L.P.

Signature:	Gabriel Li
Name/Title:	Authorized Representative
Date:	08/06/2025

ORCHID ASIA VII GP, LIMITED

Signature:	Gabriel Li
Name/Title:	Authorized Representative
Date:	08/06/2025

ORCHID ASIA V GROUP MANAGEMENT, LIMITED

Signature:	Gabriel Li
Name/Title:	Authorized Representative
Date:	08/06/2025

ORCHID ASIA V GROUP, LIMITED

Signature:	Gabriel Li
Name/Title:	Authorized Representative
Date:	08/06/2025

LAM LAI MING

Signature:	Lam Lai Ming
Name/Title:	Lam Lai Ming
Date:	08/06/2025

Exhibit Information

Exhibit A - Joint Filing Agreement

FAQ

How many Yalla Group (YALA) shares does Orchid Asia currently own?

The filing reports 25,775,661 Class A ordinary shares, representing 19.2 % of the class.

Which entity within Orchid Asia holds the largest portion of YALA shares?

Orchid Asia VII, L.P. owns 23,971,365 shares, or 17.8 % of the class.

Who ultimately controls the Orchid Asia entities holding YALA stock?

Ultimate control rests with Ms. Lam Lai Ming through her 100 % ownership of AREO Holdings Ltd.

Did the Schedule 13G/A disclose any recent purchases or sales of YALA shares?

No. The amendment only updates ownership percentages; it lists no new transactions.

What is the filing date and event date for this Schedule 13G/A?

Event date: 30 Jun 2025; filing signed and dated 06 Aug 2025.