Filing Details

Accession Number:
0001193125-22-039197
Form Type:
13G Filing
Publication Date:
2022-02-13 19:00:00
Filed By:
Shunwei China Internet Fund, L.p.
Company:
China Online Education Group (NYSE:COE)
Filing Date:
2022-02-14
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Shunwei Technology Limited 6,577,823 0 6,577,823 0 6,577,823 2.0%
Shunwei China Internet Fund 6,577,823 0 6,577,823 0 6,577,823 2.0%
Shunwei Capital Partners GP 6,577,823 0 6,577,823 0 6,577,823 2.0%
Shunwei Capital Partners GP Limited 6,577,823 0 6,577,823 0 6,577,823 2.0%
Tuck Lye Koh 6,577,823 0 6,577,823 0 6,577,823 2.0%
Filing

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO § 240.13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED

PURSUANT TO § 240.13d-2

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(AMENDMENT NO. 2)*

 

 

China Online Education Group

(Name of Issuer)

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

(Title of Class of Securities)

16954L 105

(CUSIP Number)

December 31, 2021

(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 persons 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    

  Names of Reporting Persons

 

  Shunwei Technology Limited

  2  

  Check the Appropriate Box if a Member of a Group

  (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

 

  6,577,823(1) See Item 4.

   6  

  Shared Voting Power

 

  0

   7  

  Sole Dispositive Power

 

  6,577,823(1) See Item 4.

   8  

  Shared Dispositive Power

 

  0

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  6,577,823(1) See Item 4.

10  

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

 

  ☐

11  

  Percent of Class Represented by Amount in Row (9)

 

  2.0%. The voting power of the shares beneficially owned represents 0.4%(2) of the total outstanding voting power. See Item 4.

12  

  Type of Reporting Person

 

  CO

 

(1)

Represents (i) 6,577,815 Class A ordinary shares (represented by 438,521 ADSs) and (ii) eight Class B ordinary shares held by Shunwei Technology Limited, a company incorporated under the laws of British Virgin Islands.

(2)

The percentage of voting power is calculated by dividing the voting power beneficially owned by the Reporting Person by the voting power of all of the Issuers Class A ordinary shares and Class B ordinary shares as a single class. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to ten votes per share on all matters submitted to them for a vote. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis. The beneficial ownership percentage is calculated based on 322,564,674 ordinary shares outstanding as of February 28, 2021, comprising (i) 192,877,508 Class A ordinary shares, and (ii) 129,687,166 Class B ordinary shares, as reported on the Issuers Form 20-F filed with the Securities and Exchange Commission on April 7, 2021.

 

1


  1    

  Names of Reporting Persons

 

  Shunwei China Internet Fund, L.P.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Cayman Islands

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  6,577,823 (3) See Item 4.

   6  

  Shared Voting Power

 

  0

   7  

  Sole Dispositive Power

 

  6,577,823 (3) See Item 4.

   8  

  Shared Dispositive Power

 

  0

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  6,577,823 (3) See Item 4.

10  

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

 

  ☐

11  

  Percent of Class Represented by Amount in Row (9)

 

  2.0%. The voting power of the shares beneficially owned represents 0.4%(4) of the total outstanding voting power. See Item 4.

12  

  Type of Reporting Person

 

  PN

 

(3)

Represents (i) 6,577,815 Class A ordinary shares (represented by 438,521 ADSs) and (ii) eight Class B ordinary shares held by Shunwei Technology Limited, a company incorporated under the laws of British Virgin Islands. Shunwei Technology Limited is wholly owned by Shunwei China Internet Fund, L.P.

(4)

The percentage of voting power is calculated by dividing the voting power beneficially owned by the Reporting Person by the voting power of all of the Issuers Class A ordinary shares and Class B ordinary shares as a single class. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to ten votes per share on all matters submitted to them for a vote. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis. The beneficial ownership percentage is calculated based on 322,564,674 ordinary shares outstanding as of February 28, 2021, comprising (i) 192,877,508 Class A ordinary shares, and (ii) 129,687,166 Class B ordinary shares, as reported on the Issuers Form 20-F filed with the Securities and Exchange Commission on April 7, 2021.

 

2


  1    

  Names of Reporting Persons

 

  Shunwei Capital Partners GP, L.P.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Cayman Islands

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  6,577,823 (5) See Item 4.

   6  

  Shared Voting Power

 

  0

   7  

  Sole Dispositive Power

 

  6,577,823 (5) See Item 4.

   8  

  Shared Dispositive Power

 

  0

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  6,577,823 (5) See Item 4.

10  

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

 

  ☐

11  

  Percent of Class Represented by Amount in Row (9)

 

  2.0%. The voting power of the shares beneficially owned represents 0.4%(6) of the total outstanding voting power. See Item 4.

12  

  Type of Reporting Person

 

  PN

 

(5)

Represents (i) 6,577,815 Class A ordinary shares (represented by 438,521 ADSs) and (ii) eight Class B ordinary shares held by Shunwei Technology Limited, a company incorporated under the laws of British Virgin Islands. Shunwei Technology Limited is wholly owned by Shunwei China Internet Fund, L.P., whose general partner is Shunwei Capital Partners GP, L.P.

(6)

The percentage of voting power is calculated by dividing the voting power beneficially owned by the Reporting Person by the voting power of all of the Issuers Class A ordinary shares and Class B ordinary shares as a single class. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to ten votes per share on all matters submitted to them for a vote. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis. The beneficial ownership percentage is calculated based on 322,564,674 ordinary shares outstanding as of February 28, 2021, comprising (i) 192,877,508 Class A ordinary shares, and (ii) 129,687,166 Class B ordinary shares, as reported on the Issuers Form 20-F filed with the Securities and Exchange Commission on April 7, 2021.

 

3


  1    

  Names of Reporting Persons

 

  Shunwei Capital Partners GP Limited

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Cayman Islands

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  6,577,823 (7) See Item 4.

   6  

  Shared Voting Power

 

  0

   7  

  Sole Dispositive Power

 

  6,577,823 (7) See Item 4.

   8  

  Shared Dispositive Power

 

  0

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  6,577,823 (7) See Item 4.

10  

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

 

  ☐

11  

  Percent of Class Represented by Amount in Row (9)

 

  2.0%. The voting power of the shares beneficially owned represents 0.4%(8) of the total outstanding voting power. See Item 4.

12  

  Type of Reporting Person

 

  CO

 

(7)

Represents (i) 6,577,815 Class A ordinary shares (represented by 438,521 ADSs) and (ii) eight Class B ordinary shares held by Shunwei Technology Limited, a company incorporated under the laws of British Virgin Islands. Shunwei Technology Limited is wholly owned by Shunwei China Internet Fund, L.P., whose general partner is Shunwei Capital Partners GP, L.P., whose general partner in turn, is Shunwei Capital Partners GP Limited.

(8)

The percentage of voting power is calculated by dividing the voting power beneficially owned by the Reporting Person by the voting power of all of the Issuers Class A ordinary shares and Class B ordinary shares as a single class. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to ten votes per share on all matters submitted to them for a vote. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis. The beneficial ownership percentage is calculated based on 322,564,674 ordinary shares outstanding as of February 28, 2021, comprising (i) 192,877,508 Class A ordinary shares, and (ii) 129,687,166 Class B ordinary shares, as reported on the Issuers Form 20-F filed with the Securities and Exchange Commission on April 7, 2021.

 

4


  1    

  Names of Reporting Persons

 

  Tuck Lye Koh

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Singapore

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  6,577,823 (9) See Item 4.

   6  

  Shared Voting Power

 

  0

   7  

  Sole Dispositive Power

 

  6,577,823 (9) See Item 4.

   8  

  Shared Dispositive Power

 

  0

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  6,577,823 (9) See Item 4.

10  

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

 

  ☐

11  

  Percent of Class Represented by Amount in Row (9)

 

  2.0%. The voting power of the shares beneficially owned represents 0.4%(10) of the total outstanding voting power. See Item 4.

12  

  Type of Reporting Person

 

  IN

 

(9)

Represents (i) (i) 6,577,815 Class A ordinary shares (represented by 438,521 ADSs) and (ii) eight Class B ordinary shares held by Shunwei Technology Limited, a company incorporated under the laws of British Virgin Islands. Shunwei Technology Limited is wholly owned by Shunwei China Internet Fund, L.P., whose general partner is Shunwei Capital Partners GP, L.P., whose general partner in turn, is Shunwei Capital Partners GP Limited. Shunwei Capital Partners GP Limited is controlled by Mr. Tuck Lye Koh.

(10)

The percentage of voting power is calculated by dividing the voting power beneficially owned by the Reporting Person by the voting power of all of the Issuers Class A ordinary shares and Class B ordinary shares as a single class. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to ten votes per share on all matters submitted to them for a vote. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis. The beneficial ownership percentage is calculated based on 322,564,674 ordinary shares outstanding as of February 28, 2021, comprising (i) 192,877,508 Class A ordinary shares, and (ii) 129,687,166 Class B ordinary shares, as reported on the Issuers Form 20-F filed with the Securities and Exchange Commission on April 7, 2021.

 

5


Item 1(a).

Name of Issuer:

China Online Education Group (the Issuer)

 

Item 1(b).

Address of Issuers Principal Executive Offices:

6th Floor Deshi Building North,

Shangdi Street, Haidian District

Beijing 100085, Peoples Republic of China

 

Item 2(a).

Name of Person Filing:

i. Shunwei Technology Limited;

ii. Shunwei China Internet Fund, L.P.;

iii. Shunwei Capital Partners GP, L.P.;

iv. Shunwei Capital Partners GP Limited; and

v. Tuck Lye Koh (collectively, the Reporting Persons).

 

Item 2(b).

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

For Shunwei Technology Limited

Vistra Corporate Services Center,

Wickhams Cay II, Road Town, Tortola, VG 1110,

British Virgin Islands

For Shunwei China Internet Fund, L.P.

Walker House

87 Mary Street

George Town, Grand Cayman KY1-9005

Cayman Islands

For Shunwei Capital Partners GP, L.P.

Walker House

87 Mary Street

George Town, Grand Cayman KY1-9005

Cayman Islands

For Shunwei Capital Partners GP Limited

Walker House

87 Mary Street

George Town, Grand Cayman KY1-9005

Cayman Islands

For Mr. Tuck Lye Koh

32D Watten Rise, Singapore 286651

 

Item 2(c)

Citizenship:

Shunwei Technology Limited British Virgin Islands

Shunwei China Internet Fund, L.P. Cayman Islands

Shunwei Capital Partners GP, L.P. Cayman Islands

Shunwei Capital Partners GP Limited Cayman Islands

Tuck Lye Koh Singapore

 

6


Item 2(d).

Title of Class of Securities:

Class A ordinary shares, par value of $0.0001 per share. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis.

 

Item 2(e).

CUSIP Number:

16954L 105

 

Item 3.

If this statement is filed pursuant to §§ 240.13d-1(b), or 240.13d-2(b) or (c), check whether the persons filing is a:

Not applicable

 

Item 4.

Ownership:

The following information with respect to the ownership of the ordinary shares, par value of $0.0001 per share, of the Issuer by each of the Reporting Persons is provided as of December 31, 2021:

 

Reporting Person

   Amount
beneficially
owned:
     Percent
of
class:
    Sole power
to vote or
direct the
vote:
     Shared
power
to vote
or to
direct
the
vote:
     Sole power
to dispose
or to direct
the
disposition
of:
     Shared
power to
dispose or
to direct
the
disposition
of:
     Percentage
of
aggregate
voting
power
 

Shunwei Technology Limited

     6,577,823        2.0     6,577,823                  6,577,823                  0.4

Shunwei China Internet Fund, L.P.

     6,577,823        2.0     6,577,823                  6,577,823                  0.4

Shunwei Capital Partners GP, L.P.

     6,577,823        2.0     6,577,823                  6,577,823                  0.4

Shunwei Capital Partners GP Limited

     6,577,823        2.0     6,577,823                  6,577,823                  0.4

Tuck Lye Koh

     6,577,823        2.0     6,577,823                  6,577,823                  0.4

As of December 31, 2021, 6,577,815 Class A ordinary shares and eight Class B ordinary shares were directly held by Shunwei Technology Limited, a company incorporated under the laws of British Virgin Islands. Shunwei Technology Limited is wholly owned by Shunwei China Internet Fund, L.P., whose general partner is Shunwei Capital Partners GP, L.P., whose general partner in turn, is Shunwei Capital Partners GP Limited. Shunwei Capital Partners GP Limited is controlled by Mr. Tuck Lye Koh.

The beneficial ownership percentage sets forth above is calculated based on 322,564,674 ordinary shares outstanding as of February 28, 2021, comprising (i) 192,877,508 Class A ordinary shares, and (ii) 129,687,166 Class B ordinary shares, as reported on the Issuers Form 20-F filed with the Securities and Exchange Commission on April 7, 2021.

The percentage of voting power is calculated by dividing the voting power beneficially owned by the Reporting Person by the voting power of all of the Issuers Class A ordinary shares and Class B ordinary shares as a single class. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of Class B ordinary shares is entitled to ten votes per share on all matters submitted to them for a vote. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis.

 

Item 5.

Ownership of Five Percent or Less of a Class:

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following ☒.

 

7


This filing constitutes an exit filing as each of the Reporting Persons has ceased to be the beneficial owner of more than 5 percent of the referenced class of securities.

 

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 Controlling 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

 

8


LIST OF EXHIBITS

 

Exhibit
No.

  

Description

99.1*    Joint Filing Agreement by and among the Reporting Persons as Exhibit 99.1 to the Schedule 13G filed with the U.S. Securities and Exchange Commission on February 1, 2019.

 

*

Previously filed

 

9


SIGNATURE

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

[Signature Page to Schedule 13G]

 

Dated: February 14, 2022      
Shunwei Technology Limited     By:  

/s/ Tuck Lye Koh

    Name:   Tuck Lye Koh
    Title:   Director
Shunwei China Internet Fund, L.P.     By:  

/s/ Tuck Lye Koh

    Name:   Tuck Lye Koh
    Title:   Authorized Representative
Shunwei Capital Partners GP, L.P.     By:  

/s/ Tuck Lye Koh

    Name:   Tuck Lye Koh
    Title:   Authorized Representative
Shunwei Capital Partners GP Limited     By:  

/s/ Tuck Lye Koh

    Name:   Tuck Lye Koh
    Title:   Director
Tuck Lye Koh      

/s/ Tuck Lye Koh

 

10