Yalla (YALA) 19.2% Stake Reported in Schedule 13G/A — 25.8M Shares

Schedule 13G/A (Amendment No. 5) filed for Yalla Group Ltd (Class A Ordinary Shares, CUSIP 98459U103) discloses joint beneficial ownership by AREO Holdings Ltd, Jolly Unique Limited, Orchid Asia entities and Ms. Lam Lai Ming.

Rhea-AI Filing Summary

Schedule 13G/A (Amendment No. 5) filed for Yalla Group Ltd (Class A Ordinary Shares, CUSIP 98459U103) discloses joint beneficial ownership by AREO Holdings Ltd, Jolly Unique Limited, Orchid Asia entities and Ms. Lam Lai Ming.

The filing reports 25,775,661 shares beneficially owned by the reporting group representing 19.2% of the Class A shares. Orchid Asia-related entities (multiple funds and management companies) are reported as beneficial owners of 23,971,365 shares, representing 17.8%. Orchid Asia VII Co-Investment holds 1,804,296 shares (1.3%). The disclosure shows 0 shares held with sole voting or dispositive power and all reported amounts are in shared voting/dispositive power.

Effective date of the event requiring filing: 06/30/2025. Signatures on the amendment are dated 08/06/2025. Issuer principal executive office listed as #226, Building 16, Dubai, UAE, 501913.

Positive

• Clear disclosure of aggregate beneficial ownership: 25,775,661 shares representing 19.2% of Class A
• Detailed breakdown by reporting entities: Orchid Asia entities 23,971,365 shares (17.8%), Orchid Asia VII Co-Investment 1,804,296 shares (1.3%)
• Filing identifies ownership chain and addresses, and includes signed certifications dated 08/06/2025

Negative

• None.

Insights

Securities Analyst

TL;DR: The filing discloses a near-20% shared stake by AREO/Jolly Unique/Orchid Asia and Ms. Lam Lai Ming; ownership is disclosed as shared, not sole.

The Schedule 13G/A (Amendment No. 5) documents aggregate beneficial ownership of 25,775,661 Class A shares (19.2%) by the reporting group, with Orchid Asia entities accounting for 23,971,365 shares (17.8%). The filing indicates shared voting and dispositive power for the reported shares and no sole voting or dispositive power for any reporting person. This is a factual ownership disclosure without any financial results or operational changes reported. Investors should note the large passive/affiliate stake reported and the filing/timing details for tracking investor concentration.

Corporate Governance Expert

TL;DR: Material ownership concentration disclosed, structured through Orchid Asia and AREO entities, with signatures dated 08/06/2025.

The amendment clarifies the ownership chain: Orchid Asia VII, OAVII and related entities are intermediate holders and Jolly Unique/AREO are part of the ownership complex ultimately linked to Ms. Lam Lai Ming. The filing expressly states parent/subsidiary relationships and that reported holdings are part of a group filing. All material identification, addresses and percentages are provided in the statement. No governance actions, agreements, or changes to voting control are described beyond the shared-power disclosure.

FAQ

What stake do AREO, Jolly Unique and affiliates report in Yalla (YALA)?

The joint filing reports 25,775,661 Class A shares beneficially owned, equal to 19.2% of the class.

How many shares do Orchid Asia entities report owning in Yalla (YALA)?

Orchid Asia-related reporting persons are shown as beneficial owners of 23,971,365 shares, representing 17.8% of the Class A shares.

Does any reporting person claim sole voting or dispositive power over the reported shares?

No. The cover pages state 0 shares with sole voting power and sole dispositive power; all reported shares are under shared voting and dispositive power.

What is the relevant event date and when was the amendment signed?

The event date requiring the filing is 06/30/2025. Signatures on the amendment are dated 08/06/2025.

Where is Yalla Group Ltd's principal executive office listed in the filing?

The filing lists the principal executive office as #226, Building 16, Dubai, United Arab Emirates, 501913.

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Accepted by SEC EDGAR 08/06/2025 - 06:55 AM Learn about SEC filing dates

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