[SCHEDULE 13G/A] Zai Lab Limited American SEC Filing

Rhea-AI Filing Summary

FMR LLC, together with Abigail P. Johnson, filed Amendment No. 2 to Schedule 13G for Workiva Inc. (WK) covering holdings as of 30 June 2025. The group now beneficially owns 1,778,048.9 Class A shares, equal to 3.4 % of the outstanding class. FMR reports sole voting power over 1,776,257.61 shares and sole dispositive power over the full position; there is no shared voting or dispositive authority. Because ownership is <5 %, Item 5 (“Ownership of 5 percent or less of a class”) is invoked, signalling that Fidelity’s stake has fallen beneath the reporting threshold for significant holders. The filing is on a passive Schedule 13G basis, with the certifying statement that the shares were acquired in the ordinary course of business and not to influence control. FMR is classified as a parent holding company/control person (HC); Johnson files as an individual (IN).

Positive

• Fidelity retains a meaningful 3.4 % stake, indicating continued institutional interest in Workiva.
• Passive 13G status suggests no adversarial intent toward company management, reducing governance friction.

Negative

• Ownership has fallen below the 5 % threshold, implying recent share sales and potentially reduced conviction.
• Loss of significant-holder status diminishes Fidelity’s influence in shareholder proposals.

Insights

Portfolio Manager

TL;DR: Fidelity now owns 3.4 % of WK, down below 5 %; neutral-to-slightly negative sentiment.

The filing shows that FMR LLC has reduced its exposure to Workiva to 1.78 million shares, or 3.4 % of the float. Falling under the 5 % threshold removes Fidelity from the list of “significant” holders, which can ease reporting burdens but may also reflect profit-taking or portfolio rebalancing. However, a 3 %+ position is still sizeable, so the firm remains an influential institutional owner. The passive 13G status signals no activist intent. Overall impact on the investment thesis is modest; trading volumes could see minor pressure if the reduction continues, but there is no immediate governance implication.

Corporate Governance Analyst

TL;DR: Drop below 5 % trims Fidelity’s disclosure duties; governance impact limited.

By certifying ordinary-course ownership and passive intent, FMR and Abigail P. Johnson confirm they do not seek board influence. Their diminished stake lessens any potential leverage they might have wielded in shareholder matters. Because voting power remains sole but modest relative to the total float, management’s control dynamics are essentially unchanged. Investors should monitor subsequent filings for further reductions, yet today’s amendment is not a material governance event.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

ZAI LAB LTD

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

G9887T116

(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. G9887T116

1

Names of Reporting Persons

FMR LLC

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 94,447,174.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 94,447,174.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

94,447,174.00

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)

8.5 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. G9887T116

1

Names of Reporting Persons

Abigail P. Johnson

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 94,447,174.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

94,447,174.00

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)

8.5 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ZAI LAB LTD
(b)	Address of issuer's principal executive offices: 4560 JINKE ROAD,BLDG. 1, 4F, PUDONG,SHANGHAI,F4,F4 201210
Item 2.
(a)	Name of person filing: FMR LLC
(b)	Address or principal business office or, if none, residence: 245 Summer Street, Boston, Massachusetts 02210
(c)	Citizenship: Not applicable
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: G9887T116
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: 94447174.00
(b)	Percent of class: 8.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page.
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 94447174.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of ZAI LAB LTD. No one other person's interest in the COMMON STOCK of ZAI LAB LTD is more than five percent of the total outstanding COMMON STOCK.
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. See attached Exhibit 99.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

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.

FMR LLC

Signature:	Richard Bourgelas
Name/Title:	Duly authorized under Power of Attorney effective as of May 23, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries*
Date:	08/05/2025

Abigail P. Johnson

Signature:	Richard Bourgelas
Name/Title:	Duly authorized under Power of Attorney effective as of May 23, 2023, by and on behalf of Abigail P. Johnson*
Date:	08/05/2025

Comments accompanying signature: *This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on August 8, 2023, accession number: 0000315066-23-002397.

Exhibit Information

Please see Exhibit 99 for 13d-1(k) (1) agreement.

FAQ

How many Workiva (WK) shares does FMR LLC currently own?

FMR LLC reports 1,778,048.9 Class A shares as of 30 June 2025.

What percentage of Workiva’s outstanding stock does this represent?

The position equals 3.4 % of the outstanding Class A shares.

Did Fidelity’s ownership fall below 5 %?

Yes. Item 5 confirms ownership of 5 percent or less, placing the stake at 3.4 %.

Does the filing signal activist intentions by FMR LLC?

No. The Schedule 13G filing is passive, and the certification states the shares are not held to influence control.

Who signed the Schedule 13G on behalf of Fidelity?

Richard Bourgelas signed under power of attorney for both FMR LLC and Abigail P. Johnson on 5 Aug 2025.