Form SC 13D/A CLPS Inc Filed by: QINHUI LTD.
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Amendment No. 6)
Under the Securities Exchange Act of 1934
(Name of Issuer)
(Title of Class of Securities)
Raymond Ming Hui Lin
c/o Unit 1000, 10th Floor, Millennium City III
370 Kwun Tong Road
Kwun Tong, Kowloon
Hong Kong SAR
Tel: +852 37073600
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
August 16, 2023
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box ☐.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
|CUSIP No. G31642||13D||Page 2 of 5 Pages|
NAME OF REPORTING PERSON
Raymond Ming Hui Lin
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
SEC USE ONLY
SOURCE OF FUNDS*
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
CITIZENSHIP OR PLACE OF ORGANIZATION
Hong Kong Special Administrative Region of the People’s Republic of China
SOLE VOTING POWER
7,605,873 common shares
SHARED VOTING POWER
SOLE DISPOSITIVE POWER
7,605,873 common shares
SHARED DISPOSITIVE POWER
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,605,873 common shares
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: Not Applicable*
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.7% of the Company’s outstanding common shares
TYPE OF REPORTING PERSON*
|CUSIP No. G31642||13D||Page 3 of 5 Pages|
This Amendment No. 6 to Schedule 13D amends the Amendment No. 4 to Schedule 13D filed on February 14, 2022 (the “Original 13D”). This Amendment and the Original 13D are hereby referred to as the “Schedule 13D”.
Except as specifically amended below, all other provisions of the Schedule 13D remain in effect. Capitalized terms used and not defined in this Amendment are used as defined in the Original 13D. This Amendment is being filed to reflect the disposition by Mr. Raymond Ming Hui Lin, a Reporting Person, of 211 common shares of the Company in May 2022, the acquisitions of 300,000 shares and 325,000 shares by the vesting of award shares under the 2020 Equity Incentive Plan on May 23, 2022 and November 14, 2022, respectively, and the acquisition of 530,000 shares by the vesting of award shares under the 2023 Equity Incentive Plan on August, 16, 2023. This Amendment is being filed voluntarily and is not being filed as required by Rule 13d-1 of the Securities Exchange Act of 1934, as amended.
Item 1. Security and Issuer.
The title and class of equity securities to which this Schedule 13D relates is the common shares, par value $0.0001 per share (“Common Shares”), of CLPS Incorporation, a Cayman Islands corporation (the “Company”). The Company’s principal executive office is located at Unit 1000, 10th Floor, Millennium City III, 370 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong SAR.
Item 2. Identity and Background.
(a)-(c) This report is being filed by Raymond Ming Hui Lin (the “Reporting Person”). Raymond Ming Hui Lin is the Chief Executive Officer and a director of the Company. This business address is Unit 1000, 10th Floor, Millennium City III, 370 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong SAR.
Qinhui Ltd. is a holding company formed under the laws of the British Virgin Islands. The principal business of Qinhui Ltd. is managing Raymond Ming Hui Lin’s personal assets and investments. Qinhui Ltd.’s mailing address is c/o Ogier Global (BVI) Ltd., Ritter House, Wickham’s Cay II, Road Town, Tortola, VG 1110, British Virgin Islands. Raymond Ming Hui Lin has the sole control of Qinhui Ltd.
(d)-(e) Neither Raymond Ming Hui Lin nor Qinhui Ltd. has, during the last five years, (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting activities subject to, federal or state securities laws or finding any violation of such laws.
(f) Raymond Ming Hui Lin is a citizen of Hong Kong Special Administrative Region of the People’s Republic of China. Qinhui Ltd. is a British Virgin Islands corporation.
Item 3. Source and Amount of Funds and Other Consideration.
On August 23, 2021, the Board of Directors of the Company authorized the award of 300,000 shares of restricted stock (the “Shares”) to Mr. Lin under the Company’s 2020 Equity Incentive Plan, which vested on May 23, 2022. On November 14, 2022, the Board of Directors of the Company authorized the award of 300,000 Shares to Mr. Lin under the Company’s 2020 Equity Incentive Plan, which vested on the same day. On August 16, 2023, the Board of Directors of the Company authorized the award of 530,000 Shares to Mr. Lin under the Company’s 2023 Equity Incentive Plan, which vested on the same day. Mr. Lin did not pay any additional consideration for the Shares.
|CUSIP No. G31642||13D||Page 4 of 5 Pages|
Item 4. Purpose of Transaction.
Mr. Lin was awarded the Shares under the Company’s 2020 Equity Incentive Plan and 2023 Equity Incentive Plan stated above. Mr. Lin is currently the Chief Executive Officer and a director of the Company and therefore will continue to participate in and receive awards under the Company’s incentive programs for as long as he is an employee of the Company. These share awards did not result in a material change in Mr. Lin’s ownership of the Company’s common shares as defined by Rule 13d-1 of the Securities Exchange Act of 1934, as amended. Mr. Lin files this Schedule 13D voluntarily.
Item 5. Interest in Securities of the Issuer.
(a)-(d) The calculations in this Item are based upon 25,584,122 common shares issued and outstanding as of August 16, 2023. The foregoing calculation is made pursuant to Rule 13d-3 promulgated under the Securities Act of 1933, as amended to date.
|Reporting Person||Amount of|
|Percentage of |
|Sole Power to |
Vote or Direct
|Shared Power |
to Vote or
Direct the Vote
|Sole Power to |
Dispose or to
to Dispose or to
|Raymond Ming Hui Lin||7,605,873 common shares*||29.7||%||7,605,873 common shares||-||7,605,873 common shares||-|
|Qinhui Ltd.||4,999,996 common shares||19.5||%||-||4,999,996 common shares||-||4,999,996 common shares|
|*||Includes the vested portion of the restricted stock granted dated as of August 16, 2023.|
Because Mr. Lin controls all of the voting and disposition interests of Qinhui Ltd. with respect to the securities, he may be deemed to have indirect beneficial ownership of the common shares directly beneficially owned by Qinhui Ltd. Neither Raymond Ming Hui Lin nor Qinhui Ltd. has effected any transactions in the securities of the Company in the past sixty days. The Reporting Persons affirm that no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the common shares beneficially owned by the Reporting Persons reported herein.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
Other than as described above, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Persons and any other person with respect to any securities of the Company, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power over the securities of the Company.
Item 7. Materials to be Filed as Exhibits.
|CUSIP No. G31642||13D||Page 5 of 5 Pages|
After reasonable inquiry and to the best of my knowledge and belief, the undersigned certify that the information set forth in this Schedule 13D is true, complete and correct.
Dated: September 22, 2023
|/s/ Raymond Ming Hui Lin|
|Raymond Ming Hui Lin|
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