Summary by Futu AI
West Lake Club Inc., along with Jia Zhang, collectively known as the Reporting Persons, have filed a Schedule 13D with the SEC, indicating a significant acquisition of shares in INNO Holdings Inc., a Texas-based corporation. As of August 5, 2024, the Reporting Persons beneficially own 6,400,000 shares of INNO Holdings, representing 30.84% of the company's issued and outstanding common stock. This stake was acquired as a charitable donation from Dekui Liu, the former CEO of INNO Holdings, on May 31, 2024. The Reporting Persons have stated that the acquisition is for investment purposes and they may engage in discussions or actions that could influence the company's business and affairs. Additionally, on September 6, 2024, West Lake Club entered into a Securities Purchase Agreement to sell 640,000 shares of their INNO Holdings stock to various investors, pending the completion of certain conditions.