SC 13G/A 1 c79378sc13gza.htm SCHEDULE 13G/AMENDMENT NO. 1 Filed by Bowne Pure Compliance
     
 
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

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

CNinsure Inc.
(Name of Issuer)
Ordinary Shares
(Title of Class of Securities)
G2352K 108
(CUSIP Number)
December 31, 2008
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     o Rule 13d-1(b)

     o Rule 13d-1(c)

     þ 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).

 
 

 

                     
CUSIP No.
  
G2352K 108 
   Page  
2 
   of   
12 

 

           
1   NAMES OF REPORTING PERSONS
 
Yinan Hu
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  People’s Republic of China
       
  5   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   237,129,009 ordinary shares
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    237,129,009 ordinary shares
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  237,129,009 ordinary shares
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  26.0%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN

 

                     
CUSIP No.
  
G2352K 108 
   Page  
3 
   of   
12 

 

           
1   NAMES OF REPORTING PERSONS
 
China United Financial Services Holdings Limited
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  British Virgin Islands
       
  5   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  0
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  0%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  CO

 

                     
CUSIP No.
  
G2352K 108 
   Page  
4 
   of   
12 

 

           
1   NAMES OF REPORTING PERSONS
 
CAA Holdings Company Limited
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  British Virgin Islands
       
  5   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  0
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  0%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  CO

 

                     
CUSIP No.
  
G2352K 108 
   Page  
5 
   of   
12 

 

           
1   NAMES OF REPORTING PERSONS
 
Kingsford Resources Limited
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  British Virgin Islands
       
  5   SOLE VOTING POWER
     
NUMBER OF   237,129,009 ordinary shares
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   237,129,009 ordinary shares
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  237,129,009 ordinary shares
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  26.0%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  CO

 

                     
CUSIP No.
  
G2352K 108 
   Page  
6 
   of   
12 

 

           
1   NAMES OF REPORTING PERSONS
 
High Rank Investments Limited
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  British Virgin Islands
       
  5   SOLE VOTING POWER
     
NUMBER OF   237,129,009 ordinary shares
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   237,129,009 ordinary shares
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  237,129,009 ordinary shares
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  26.0%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  CO

 

                     
CUSIP No.
  
G2352K 108 
   Page  
7 
   of   
12 

 

           
1   NAMES OF REPORTING PERSONS
 
Qiuping Lai
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  People’s Republic of China
       
  5   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   237,129,009 ordinary shares
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    237,129,009 ordinary shares
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  237,129,009 ordinary shares
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  26.0%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN

 

                     
CUSIP No.
  
G2352K 108 
   Page  
8 
   of   
12 
Item 1(a).  
Name of Issuer:
CNinsure Inc.
Item 1(b).  
Address of Issuer’s Principal Executive Offices:
21/F, Yinhai Building
No. 299 Yanjiang Zhong Road
Guangzhou, Guangdong 510110
People’s Republic of China
Item 2(a).  
Name of Person Filing:
Yinan Hu
China United Financial Services Holdings Limited
CAA Holdings Company Limited
Kingsford Resources Limited
High Rank Investments Limited
Qiuping Lai
Item 2(b).  
Address of Principal Business Office or, if None, Residence:
Yinan Hu
China United Financial Services Holdings Limited
CAA Holdings Company Limited
Kingsford Resources Limited
High Rank Investments Limited
c/o Yinan Hu
CNinsure Inc.
21/F, Yinhai Building
No. 299 Yanjiang Zhong Road
Guangzhou, Guangdong 510110
People’s Republic of China
Qiuping Lai
CNinsure Inc.
21/F, Yinhai Building
No. 299 Yanjiang Zhong Road
Guangzhou, Guangdong 510110
People’s Republic of China
Item 2(c)  
Citizenship:
Yinan Hu — People’s Republic of China
China United Financial Services Holdings Limited — British Virgin Islands
CAA Holdings Company Limited — British Virgin Islands
Kingsford Resources Limited — British Virgin Islands
High Rank Investments Limited — British Virgin Islands
Qiuping Lai — People’s Republic of China

 

 

 

                     
CUSIP No.
  
G2352K 108 
   Page  
9 
   of   
12 
Item 2(d).  
Title of Class of Securities:
Ordinary Shares
Item 2(e).  
CUSIP Number:
G2352K 108
Item 3.  
Not Applicable
Item 4.  
Ownership:
The following information with respect to the ownership of the ordinary shares of CNinsure Inc. (the “Issuer”) by each of the reporting persons is provided as of December 31, 2008:
                                                 
                    Sole     Shared     Sole     Shared  
                    power to     power to     power to     power to  
    Amount             vote or     vote or to     dispose or to     dispose or to  
    beneficially     Percent     direct the     direct the     direct the     direct the  
Reporting Person   owned:     of class:     vote:     vote:     disposition of:     disposition of:  
Yinan Hu (1)
     237,129,009       26.0 %     0       237,129,009       0       237,129,009  
China United Financial Services Holdings Limited (2)
     0       0 %     0       0       0       0  
CAA Holdings Company Limited (3)
     0       0 %     0       0       0       0  
Kingsford Resources Limited (4)
     237,129,009       26.0 %     237,129,009       0       237,129,009       0  
High Rank Investments Limited (5)
     237,129,009       26.0 %     237,129,009       0       237,129,009       0  
Qiuping Lai (6)
     237,129,009       26.0 %     0       237,129,009       0       237,129,009  
     
(1)  
The 237,129,009 ordinary shares of the Issuer beneficially owned by Yinan Hu consist of 237,129,009 ordinary shares directly held by Kingsford Resources Limited (“Kingsford”). Approximately 93.9% of the total outstanding shares of Kingsford are held by High Rank Investments Limited (“High Rank”). Mr. Hu holds approximately 87.6% of the total outstanding shares of High Rank. Pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules promulgated thereunder, Mr. Hu may be deemed to beneficially own all of the ordinary shares of the Issuer held by Kingsford. Mr. Hu disclaims beneficial ownership of all of the ordinary shares of the Issuer held by Kingsford except to the extent of his pecuniary interest therein.

 

 

 

                     
CUSIP No.
  
G2352K 108 
   Page  
10 
   of   
12 
     
(2)  
In September 2008, China United Financial Services Holdings Limited (“CUFS”) distributed all of the 208,199,680 ordinary shares of the Issuer it then held to its shareholders, including CAA Holdings Company Limited (“CAA”), on a pro rata basis. After such distribution, CUFS no longer owned any ordinary shares of the Issuer.
 
(3)  
In connection with the distribution described in Note (2) above, CAA designated its shareholders as the recipients, on a pro rata basis, of the ordinary shares of the Issuer distributed to it by CUFS. After such distribution, CAA no longer owned any ordinary shares of the Issuer.
 
(4)  
In October 2008, for purpose of consolidating their shareholdings in the Issuer under one holding company, Mr. Hu and four other employees of the Issuer transferred to Kingsford all of the ordinary shares of the Issuer they received as shareholders of CAA in the distribution described in Notes (2) and (3) above. In exchange for these transfers, the five transferees received newly issued Kingsford shares. Mr. Hu then transferred the new Kingsford shares he received to High Rank, an existing shareholder of Kingsford, in exchange for newly issued shares of High Rank. Meanwhile, the four other employees transferred their new Kingsford shares to Better Rise Investments Limited (“Better Rise”), another existing shareholder of Kingsford, in exchange for newly issued shares of Better Rise. As a result of these transfers, the number of ordinary shares of the Issuer directly held by Kingsford increased from 167,778,395 to 237,129,009.
 
(5)  
High Rank owns approximately 93.9% of the total outstanding shares of Kingsford. Pursuant to Section 13(d) of the Exchange Act and the rules promulgated thereunder, High Rank may be deemed to beneficially own all of the ordinary shares of the Issuer held by Kingsford. High Rank disclaims beneficial ownership of the ordinary shares of the Issuer held by Kingsford except to the extent of its pecuniary interest therein.
 
(6)  
Qiuping Lai owns approximately 12.4% of the total outstanding shares of High Rank. Pursuant to Section 13(d) of the Exchange Act and the rules promulgated thereunder, Mr. Lai may be deemed to beneficially own all of the ordinary shares of the Issuer held by Kingsford. Mr. Lai disclaims beneficial ownership of the ordinary shares of the Issuer held by Kingsford except to the extent of his pecuniary interest therein.

 

 

 

                     
CUSIP No.
  
G2352K 108 
   Page  
11 
   of   
12 
Item 5.  
Ownership of Five Percent or less of a Class:
As of December 31, 2008, CUFS and CAA ceased to be beneficial owners of more than five percent of ordinary shares of the Issuer. Please see notes (2) and (3) under Item 4 for a description of the distributions made by the two companies in September 2008.
Item 6.  
Ownership of More than Five Percent on Behalf of Another Person:
Better Rise owns approximately 6.1% of the total outstanding shares of Kingsford, which holds approximately 26.0% of the total outstanding ordinary shares of the Issuer. As such, the shareholders of Better Rise, through Better Rise and Kingsford, have the right to receive dividends from, and proceeds from the sale of, approximately 1.6% of the total outstanding ordinary shares of the Issuer. The shareholders of Better Rise consist of three officers of the Issuer, one former officer of the Issuer, and Mr. Hu’s wife, who is also an employee of the Issuer.
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.  
Certification:
Not applicable

 

 

 

                     
CUSIP No.
  
G2352K 108 
   Page  
12 
   of   
12 
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.
Dated: January 13, 2009
         
     
Yinan Hu  /s/ Yinan Hu    
  Yinan Hu   
 
     
China United Financial Services Holdings Limited  By:   /s/ Yinan Hu    
    Name:   Yinan Hu   
    Title:   Director   
 
     
CAA Holdings Company Limited  By:   /s/ Yinan Hu    
    Name:   Yinan Hu   
    Title:   Director   
 
     
Kingsford Resources Limited  By:   /s/ Yinan Hu    
    Name:   Yinan Hu   
    Title:   Director   
 
     
High Rank Investments Limited  By:   /s/ Qiuping Lai    
    Name:   Qiuping Lai   
    Title:   Director   
 
     
Qiuping Lai  /s/ Qiuping Lai    
  Qiuping Lai   
     
 

 

 

 

LIST OF EXHIBITS
         
Exhibit No.   Description
       
 
  99.1    
Joint Filing Agreement