Magnus Management Limited and Zack Zhang jointly filed a Schedule 13D with the SEC on November 6, 2026, disclosing beneficial ownership of 34,333,332 Class A ordinary shares of AIFU Inc., representing approximately 56.12% of the issuer's total outstanding ordinary shares as of October 12, 2026.

Key Highlights

  • Beneficial ownership reported: Magnus Management Limited directly holds 34,333,332 Class A ordinary shares of AIFU Inc., par value $0.002 per share.
  • Ownership percentage: The 34,333,332 shares represent approximately 56.12% of AIFU's total issued and outstanding ordinary shares, based on 61,175,748 total shares outstanding as of October 12, 2026.
  • Voting power: Despite the large share count, the filing states the position represents approximately 3.19% of total voting power, as Class B ordinary shares carry 100 votes each versus one vote per Class A share.
  • Control structure: Magnus Management Limited is 100% owned by Zack Zhang, who funded the transaction through personal funds.
  • Triggering event: The date of event requiring this filing is listed as October 12, 2026.
  • Source of acquisition: According to the filing, on September 24, 2026, AIFU entered into a securities purchase agreement with Magnus Management Limited and several other investors.
  • Sole voting and dispositive power: Both Magnus Management Limited and Zack Zhang report sole voting power and sole dispositive power over all 34,333,332 shares, with no shared voting or dispositive power.

AIFU Inc. Schedule 13D: Magnus Management and Zack Zhang Disclose Majority Share Position

Magnus Management Limited, a Hong Kong-incorporated limited liability company wholly owned by Zack Zhang, and Zack Zhang individually filed a joint Schedule 13D with the SEC disclosing beneficial ownership of 34,333,332 Class A ordinary shares of AIFU Inc. The filing identifies the CUSIP number as G3314G128 and states the triggering event date as October 12, 2026. The shares are described as Class A ordinary shares with a par value of $0.002 per share.

According to the filing, the percentage calculation is based on 61,175,748 total ordinary shares outstanding, comprising 50,925,748 Class A ordinary shares and 10,250,000 Class B ordinary shares, as of October 12, 2026, per the issuer's records. The filing notes that Class B ordinary shares were treated as converted into Class A ordinary shares solely for the purpose of calculating percentage ownership. Each Class A ordinary share carries one vote, while each Class B ordinary share carries 100 votes on all matters submitted to shareholders. As a result, the filing states the reported position equates to approximately 3.19% of aggregate voting power.

The filing states that consideration for the transaction was funded by personal funds provided by Zack Zhang. The stated purpose is investment. The reporting persons disclosed they may engage in communications with shareholders, management, or board members of AIFU, and may make suggestions concerning operations, strategy, and other matters. The filing states the reporting persons may also purchase additional shares, hold, or dispose of their position depending on various factors including market and business conditions. Zack Zhang is identified as a citizen of the Republic of Guinea-Bissau and serves as a Director of Magnus Management Limited, which the filing describes as "a limited liability company without any substantive operations."

What Was Disclosed

Magnus Management Limited and Zack Zhang disclosed joint beneficial ownership of 34,333,332 AIFU Class A ordinary shares, representing approximately 56.12% of outstanding shares but approximately 3.19% of voting power, funded by personal funds, with the stated purpose of investment.