UNITED STATES

 

 

SECURITIES AND EXCHANGE COMMISSION

 

 

Washington, D.C. 20549

 

 

 

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934
(Amendment No. 1)*

 

Qutoutiao Inc.

(Name of Issuer)

Class A Ordinary Shares, par value US$0.0001 per share

(Title of Class of Securities)

74915J 107 (1)

(CUSIP Number)

December 31, 2019

(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)

 

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

(1) This CUSIP number applies to the Issuer’s American Depositary Shares, every four of which represents one Class A ordinary share.

 



 

SCHEDULE 13G

 

CUSIP No. 74915J 107

 

 

1

Names of Reporting Persons
Lei Li

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
People’s Republic of China

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:

5

Sole Voting Power
5,813,751 (2)

6

Shared Voting Power
0

7

Sole Dispositive Power
5,813,751 (2)

8

Shared Dispositive Power
0

9

Aggregate Amount Beneficially Owned by Each Reporting Person
5,813,751 (2)

10

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 

11

Percent of Class Represented by Amount in Row (9)
8.0%* (assuming conversion of all outstanding Class B ordinary shares into the same number of Class A ordinary shares)

12

Type of Reporting Person (See Instructions)
IN

 

(2)

Represents 5,813,751 Class B ordinary shares. Each Class B ordinary share is convertible into one Class A ordinary share at any time at the option of the holder thereof. Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. Upon any transfer of Class B ordinary shares by a holder to any person or entity which is not an affiliate of such holder, such Class B ordinary shares shall be automatically and immediately converted into the equivalent number of Class A ordinary shares.

*                 The percentages used in this Schedule 13G are calculated based on a total of 39,645,820 Class A ordinary shares and 32,937,193 Class B ordinary shares of the Issuer issued and outstanding as of December 31, 2019, based on information provided by the Issuer. Beneficial ownership information is presented as of December 31, 2019.

 



 

1

Names of Reporting Persons
News List Ltd.

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
British Virgin Islands

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:

5

Sole Voting Power
5,813,751 (3)

6

Shared Voting Power
0

7

Sole Dispositive Power
5,813,751 (3)

8

Shared Dispositive Power
0

9

Aggregate Amount Beneficially Owned by Each Reporting Person
5,813,751 (3)

10

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 

11

Percent of Class Represented by Amount in Row (9)
8.0%* (assuming conversion of all outstanding Class B ordinary shares into the same number of Class A ordinary shares)

12

Type of Reporting Person (See Instructions)
CO

 

(3)

Represents 5,813,751 Class B ordinary shares. Each Class B ordinary share is convertible into one Class A ordinary share at any time at the option of the holder thereof. Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. Upon any transfer of Class B ordinary shares by a holder to any person or entity which is not an affiliate of such holder, such Class B ordinary shares shall be automatically and immediately converted into the equivalent number of Class A ordinary shares.

*                 The percentages used in this Schedule 13G are calculated based on a total of 39,645,820 Class A ordinary shares and 32,937,193 Class B ordinary shares of the Issuer issued and outstanding as of December 31, 2019, based on information provided by the Issuer. Beneficial ownership information is presented as of December 31, 2019.

 



Item 1.

 

(a)

Name of Issuer:
Qutoutiao Inc.

 

(b)

Address of Issuer’s Principal Executive Offices:
11/F, Block 3, XingChuang Technology Center

Shen Jiang Road 5005,

Pudong New Area, Shanghai, 200120

People’s Republic of China

 

Item 2.

 

(a)

Name of Person Filing:

 

(i)            Lei Li; and

 

(ii)           News List Ltd., a limited liability company established in the British Virgin Islands.

 

(b)

Address of Principal Business Office or, if none, Residence:

 

(i)           The address of the principal business office of Lei Li is 11/F, Block 3, XingChuang Technology Center, Shen Jiang Road 5005, Pudong New Area, Shanghai 200120, People’s Republic of China.

 

(ii)           The registered address of News List Ltd. is Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands.

 

(c)

Citizenship:

 

(i)            Lei Li – People’s Republic of China

 

(ii)         News List Ltd. – British Virgin Islands

 

(d)

Title and Class of Securities:

 

Class A ordinary shares, par value US$0.0001 per share

 

(e)

CUSIP No.:

 

74915J 107

 

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:

 

Not applicable.

 



 

Item 4.

Ownership

 

Reporting
Person(1)

 

Amount
beneficially
owned

 

Percent of
class(2)

 

Sole power
to vote or
direct to
vote(2)

 

Shared
power to
vote or to
direct the
vote

 

Sole power
to
dispose or
to
direct the
disposition
of(1)

 

Shared
power
to dispose
or
to direct the
disposition
of

 

Lei Li

 

5,813,751

 

8.0

%

5,813,751

 

0

 

5,813,751

 

0

 

News List Ltd.

 

5,813,751

 

8.0

%

5,813,751

 

0

 

5,813,751

 

0

 

 

(1)         As of December 31, 2019, News List Ltd. directly held 5,813,751 of the Issuer’s Class B ordinary shares. News List Ltd. is ultimately wholly-owned by a trust of which Mr. Lei Li and his family are beneficiaries. Accordingly, each of Mr. Li and News List Ltd. may thereby be deemed to beneficially own the 5,813,751 Class B ordinary shares held by News List Ltd. Each Class B ordinary share is convertible into one Class A ordinary share at any time at the option of the holder thereof. Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. Upon any transfer of Class B ordinary shares by a holder to any person or entity which is not an affiliate of such holder, such Class B ordinary shares shall be automatically and immediately converted into the equivalent number of Class A ordinary shares. Accordingly, each of Mr. Li and News List Ltd. may thereby be deemed to beneficially own 5,813,751 of the Issuer’s Class A ordinary shares.

 

Each Class A ordinary share is entitled to one vote, and each Class B ordinary share is entitled to ten votes. The Class B ordinary shares beneficially owned by each of Mr. Li and News List Ltd. represent 16.1% of the aggregate voting power of the Issuer’s issued and outstanding share capital.

 

(2)         Represent 8.0% of Class A ordinary shares (assuming conversion of all outstanding Class B ordinary shares into the same number of Class A ordinary shares). Calculated based on a total of 39,645,820 Class A ordinary shares and 32,937,193 Class B ordinary shares of the Issuer issued and outstanding as of December 31, 2019, based on information provided by the Issuer. Beneficial ownership information is presented as of December 31, 2019.

 

Item 5.

Ownership of Five Percent or Less of a Class.

 

Not applicable.

 

Item 6.

Ownership of More than Five Percent on Behalf of Another Person.

 

Not applicable.

 

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.

 

Not applicable.

 

Item 8.

Identification and Classification of Members of the Group.

 

Not applicable.

 

Item 9.

Notice of Dissolution of Group.


 

Not applicable.

 

Item 10.

Certifications.

 

Not applicable.

 



 

SIGNATURES

 

After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

 

Dated: February 7, 2020

 

 

LEI LI

 

 

 

 

 

 

 

By:

/s/ Lei Li

 

Name:

Lei Li

 

 

 

 

 

 

 

 

 

 

NEWS LIST LTD.

 

 

 

 

 

 

By:

/s/ Lei Li

 

Name:

Lei Li

 

Title:

Director

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

EXHIBIT INDEX

 

Exhibit No.

 

Description

99.1

 

Joint Filing Agreement

 

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