Director George Kai Chu Acquires 7.1% Stake in ZW Data Action Technologies Inc. via Stock Award

On May 5, 2026, George Kai Chu filed a Schedule 13D disclosing a 7.1% ownership stake in ZW Data Action Technologies Inc. (CNET). Chu, who serves as a director of the company, reported beneficial ownership of 260,833 shares of common stock. This position was established following a compensation award on April 22, 2026, in which the Board of Directors granted Chu 165,000 shares of common stock for his services, for which no cash consideration was paid. The total holdings consist of 171,227 shares held directly by Chu and 89,606 shares held by Marvel Investment Limited. As a shareholder of Marvel Investment Limited, Chu may be deemed to share voting and dispositive power over those additional shares. Prior to this filing, Chu's reported ownership was 0.0%, marking a significant increase in his stake in the issuer. The filing confirms that Chu has not engaged in any other transactions involving CNET common stock within the past 60 days.