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SCHEDULE Filed 2025-11-12 Event 2025-11-11 SEC 0002062327-25-000002 →

CARMEL HOLDINGS LTD Santech Holdings Ltd BVC

Stake: 67.80% Shares: 113,862,620 CUSIP: 44951X104 Class: Ordinary share, par value US$ 0.0001 per share

Item 4 — Purpose of Transaction

Mr. Lawrence Wai Lok acquired the additional shares pursuant to the ESOP awards described above for incentive compensation purposes. The acquisition did not involve any change in control of the Issuer, and Mr. Lawrence Wai Lok currently has no plans or proposals that would result in any of the actions enumerated in paragraphs (a) through (j) of Item 4 of Schedule 13D.

Cross-References

Insider Activity (last 365d)
0 transactions
0 buys · 0 sales · 0 awards/exercises
Issuer Cluster
1 13D/G filings on this issuer
0 other filings besides this one
Filer Track Record
1 filings by this filer
0 other filings in the data moat
Short Interest · settle 2026-07-15
DTC 1.00
4,825 shares short · -22.6% vs prior

Post-Filing Returns · since 2025-11-11 on BVC

+1 day
+2.3%
+5 days
-13.5%
+30 days
+3.7%
+60 days
+1180.2%
+90 days
+839.5%
+180 days
+998.8%

Anchor price 0.86 on closest trading day on/after 2025-11-11. Source: Yahoo Finance daily adj_close (split + dividend adjusted).

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