HSG Holding Ltd - 03 Dec 2025 SCHEDULE 13D/A Report for 51Talk Online Education Group Class A Ordinary Shares, $0.0001 par value per share (COE)

Filing Manager: HSG Holding Ltd
Reporting Manager: HongShan Capital Venture Fund V, L.P. ("HSGCVF V")
Security: 51Talk Online Education Group Class A Ordinary Shares, $0.0001 par value per share
Symbol: COE
Shares outstanding: 248M shares
Disclosed Ownership: 28.5M shares
Ownership: 11.5%
Form type: SCHEDULE 13D/A
Filing time: 05 Dec 2025, 20:46:00 UTC
Date of event: 03 Dec 2025
SEC: View on sec.gov

Reporting Managers (9)

Name	Ownership	Shares Owned	shared voting power	Signature	Title	CIK
HSG Venture V Holdco I, Ltd. ("HSG V HOLDCO I")	11.5%	28.5M	28.5M	/s/ Neil Nanpeng Shen	By: Neil Nanpeng Shen, Authorized Signatory
HongShan Capital Venture Fund V, L.P. ("HSGCVF V")	11.5%	28.5M	28.5M	/s/ Neil Nanpeng Shen	Neil Nanpeng Shen, Authorized Signatory	0001618279
HSG Venture V Management, L.P. ("HSGCVF MGMT V")	11.5%	28.5M	28.5M	/s/ Neil Nanpeng Shen	Neil Nanpeng Shen, Authorized Signatory	0001742982
HSG Growth I Holdco A, Ltd. ("HSG I Holdco A")	0%	0	0	/s/ Neil Nanpeng Shen	Neil Nanpeng Shen, Authorized Signatory
HongShan Capital Growth Fund I, L.P. ("HSGCGF I")	0%	0	0	/s/ Neil Nanpeng Shen	Neil Nanpeng Shen, Authorized Signatory	0001402494
HongShan Capital Growth Fund Management I, L.P. ("HSGCF MGMT I")	0%	0	0	/s/ Neil Nanpeng Shen	Neil Nanpeng Shen, Authorized Signatory	0001470765
HSG Holding Ltd ("HSG Holding")	11.5%	28.5M	28.5M	/s/ Neil Nanpeng Shen	Neil Nanpeng Shen, Authorized Signatory	0001470766
SNP China Enterprises Limited ("SNP")	11.5%	28.5M	28.5M	/s/ Neil Nanpeng Shen	Neil Nanpeng Shen, Authorized Signatory	0001537592
Neil Nanpeng Shen ("NS")	11.5%	28.5M	28.5M	/s/ Neil Nanpeng Shen	Neil Nanpeng Shen	0001279329