Arts Wing Limited and Robert Liu Reduce Stake in Maase Inc. via Private Sales

This Amendment No. 2 to Schedule 13D, filed on April 9, 2026, reports a reduction in beneficial ownership of Maase Inc. (MAAS) by Arts Wing Limited and its sole owner, Robert Liu. The reporting persons executed two significant disposals of Class A Ordinary Shares through privately negotiated transactions. Specifically, they sold 4,020,000 shares on January 21, 2026, for approximately $6.0 million, and an additional 9,537,589 shares on April 7, 2026, for approximately $32.0 million. Following these transactions, Arts Wing Limited holds 78,564,455 Class A Ordinary Shares, representing a 17.77% ownership stake in the company and 7.13% of the total voting power. The reduction in percentage ownership was also influenced by the issuer's issuance of additional Class A Ordinary Shares on March 30, 2026, in separate transactions. Robert Liu maintains sole voting and dispositive power over the remaining shares held by Arts Wing Limited.