Zhao's Expansion Group Now Commands 99.4% of AIFU Voting Power After Class B Issuance
AIFU is trading near its 52-week low of $8.171 (7.8% above the low) on elevated volume (3.3× avg).
Summary
Ileana Zhao's Expansion Group Ltd now controls 99.43% of AIFU's voting power after receiving 10 million Class B shares at par value, while also disclosing a US$2.9 million disposal of her Vanguard First stake in April 2026.
Key Events · Ownership and Investor Activity · AIFU
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Zhao Controls 99.4% Voting Power
Expansion Group Ltd and Ileana Zhao now hold 67.37% of ordinary shares and 99.43% of aggregate voting power, driven by the 10 million Class B shares (100 votes each) issued at par value.
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Class B Issuance Completed
The 10,000,000 Class B ordinary shares were issued to Expansion Group Ltd on September 24, 2026 at US$0.002 per share for total consideration of US$20,000, as previously announced on September 9.
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April 2026 Vanguard First Disposal
Ileana Zhao disposed of all equity interests in Vanguard First Limited on April 14, 2026 for US$2.9 million, which beneficially owned 155,000 Class A ordinary shares.
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Updated Share Structure
Total outstanding ordinary shares are 16,175,748 as of September 24, 2026, comprising 5,925,748 Class A shares and 10,250,000 Class B shares.
Analysis · AIFU · Finance
Following the September 24 completion of a 10 million Class B share issuance at par value, Ileana Zhao and her wholly-owned Expansion Group Ltd now hold 67.37% of AIFU's ordinary shares and 99.43% of aggregate voting power. The filing also reveals a previously undisclosed April 14, 2026 disposal of Zhao's entire stake in Vanguard First Limited for US$2.9 million. Because Class B shares carry 100 votes each versus 1 vote for Class A shares, Zhao has near-total control of the company. This concentration of voting power is the key governance fact for minority shareholders.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 30.2% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, AIFU was trading at $8.81 on NASDAQ in the Finance sector, with a market capitalization of approximately $142.5M. The 52-week trading range was $8.17 to $117.40. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.