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Zhibao Technology Inc. disclosure: Ningbo Pangu Chuangfu Hefu Equity Investment Partnership (Limited Partnership) reports beneficial ownership of 1,813,954 Class A ordinary shares, representing 10.5% of Class A shares issued and outstanding as of April 20, 2026. The filing states the shares are held of record by Pangu and that Kai Liu is a director of Pangu and may be deemed to have or share voting and dispositive power; Mr. Liu disclaims beneficial ownership except for any pecuniary interest. The filing excludes Class B ordinary shares from the Class A percentage calculation.
Key Figures
Reported Class A shares owned:1,813,954 sharesPercent of Class A outstanding:10.5%Class A shares outstanding:17,245,000 shares+1 more
4 metrics
Reported Class A shares owned1,813,954 sharesAmount beneficially owned reported by Pangu
Percent of Class A outstanding10.5%Based on 17,245,000 Class A shares issued and outstanding as of April 20, 2026
Class A shares outstanding17,245,000 sharesUsed as denominator for the 10.5% calculation as of April 20, 2026
Class B shares excluded16,816,692 sharesClass B ordinary shares excluded from the Class A percentage calculation as of April 20, 2026
Key Terms
Schedule 13G, Beneficial ownership, Sole voting power / Sole dispositive power
3 terms
Schedule 13Gregulatory
"the cover pages of this are incorporated herein by reference"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
Beneficial ownershipfinancial
"Amount beneficially owned: 1,813,954"
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.
Sole voting power / Sole dispositive powercorporate
"Sole Voting Power 1,813,954.00 ... Sole Dispositive Power 1,813,954.00"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What stake does Ningbo Pangu report in Zhibao Technology (ZBAO)?
The filing states 1,813,954 Class A shares, equal to 10.5% of Class A shares based on 17,245,000 Class A shares issued and outstanding as of April 20, 2026. The figure excludes Class B shares.
Who is listed as having influence over the reported shares in ZBAO?
The report names Ningbo Pangu Chuangfu Hefu Equity Investment Partnership as the record holder and notes Kai Liu is a director of Pangu and may be deemed to share voting and dispositive power; he disclaims beneficial ownership except for any pecuniary interest.
Does the Schedule 13G filing include Class B shares in the percentage calculation?
No. The filing expressly excludes 16,816,692 Class B ordinary shares from the Class A percentage calculation; the reported 10.5% is computed solely on 17,245,000 Class A shares outstanding as of April 20, 2026.
What voting and disposition powers are reported for the 1,813,954 shares?
The cover reports sole voting power of 1,813,954 shares and sole dispositive power of 1,813,954 shares, with no shared voting or dispositive power reported in the filing.
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
1,813,954.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,813,954.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,813,954.00
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)
10.5 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
G989MC106
1
Names of Reporting Persons
Kai Liu
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
1,813,954.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,813,954.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,813,954.00
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)
10.5 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: (1) Based on 17,245,000 Class A ordinary shares issued and outstanding and excludes 16,816,692 Class B ordinary shares issued and outstanding as of April 20, 2026.
(2) Ningbo Pangu Chuangfu Hefu Equity Investment Partnership (Limited Partnership) ("Pangu") is the record holder of the shares reported herein. Mr. Kai Liu is the director of Ningbo Pangu Chuangfu Hefu Equity Investment Partnership (Limited Partnership). As such, he may be deemed to have or share voting and dispositive power of the Class A ordinary shares held directly by Pangu. Mr. Liu disclaims any beneficial ownership of the reported ordinary shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Zhibao Technology Inc.
(b)
Address of issuer's principal executive offices:
Floor 3, Building 6, Wuxing Road, Lane 727, Pudong New Area, Shanghai, China 201204
Address or principal business office or, if none, residence:
No.1 Xinqyeyi Road, Room 3531-2, Building 2, Ningbo, Zhejiang, China
(c)
Citizenship:
Ningbo Pangu Chuangfu Hefu Equity Investment Partnership (Limited Partnership) is a limited partnership incorporated under the laws of the People's Republic of China. Mr. Kai Liu is a citizen of the People's Republic of China.
(d)
Title of class of securities:
CLASS A ORDINARY SHARES, PAR VALUE $0.0001
(e)
CUSIP Number(s):
G989MC106
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:
1,813,954
(b)
Percent of class:
The responses to Items 5-11 of the cover pages of this Schedule 13G are incorporated herein by reference. As of April 20, 2026, the Reporting Persons may be deemed to beneficially own 1,813,954 shares of the Issuer's Class A ordinary shares, representing 10.5% of the total Class A ordinary shares issued and outstanding. The percentage of Class A ordinary shares held by the Reporting Persons is based on 17,245,000 Class A ordinary shares issued and outstanding and excludes 16,816,692 Class B ordinary shares issued and outstanding as of April 20, 2026.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
1,813,954
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
1,813,954
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
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.
