Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Yao Junhong 2. Issuer Name and Ticker or Trading Symbol DSC Holdings Ltd. [DSC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Executive Officer (Last) (First) (Middle) NO.175 WUCHANG AVENUE, YUHANG DISTRICT 3. Date of Earliest Transaction (Month/Day/Year) 06/26/2026 (Street) HANGZHOU 311100 4. If Amendment, Date Original Filed (Month/Day/Year) 6. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Ordinary shares 06/26/2026 J(1) 108,330,350 D $ 0 0 I Held by Binary Sky Limited Class B ordinary shares 06/26/2026 J(1) 108,330,350 A $ 0 108,330,350 I Held by Binary Sky Limited Class B ordinary shares 06/26/2026 C 1,139,559 A $ 0 109,469,909 I Held by Binary Sky Limited Class B ordinary shares 06/26/2026 C 108,466,752 A $ 0 108,466,752 I Held by Cheche Group Limited Class B ordinary shares 06/26/2026 C 96,088,171 A $ 0 204,554,923 I Held by Cheche Group Limited Class B ordinary shares 06/26/2026 C 17,267,771 A $ 0 221,822,694 I Held by Cheche Group Limited Ordinary shares 06/26/2026 J(2) 1,500,000 D $ 0 0 I Held by Crystal Gem Holdings Limited Class A ordinary shares 06/26/2026 J(2) 1,500,000 A $ 0 1,500,000 I Held by Crystal Gem Holdings Limited Class A ordinary shares 06/26/2026 C 44,094,200 A $ 0 45,594,200 I Held by Crystal Gem Holdings Limited Class A ordinary shares 06/26/2026 C 43,635,180 A $ 0 89,229,380 I Held by Crystal Gem Holdings Limited

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Underlying Securities (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series D-1 preferred shares	$ 0	06/26/2026		C			44,094,200	(3)	(3)	Class A ordinary shares	44,094,200	$ 0	0	I	Held by Crystal Gem Holdings Limited
Series E-1 preferred shares	$ 0	06/26/2026		C			108,466,752	(4)	(4)	Class B ordinary shares	108,466,752	$ 0	0	I	Held by Cheche Group Limited
Series E-2 preferred shares	$ 0	06/26/2026		C			96,088,171	(4)	(4)	Class B ordinary shares	96,088,171	$ 0	0	I	Held by Cheche Group Limited
Series E-2 preferred shares	$ 0	06/26/2026		C			43,635,180	(3)	(3)	Class A ordinary shares	43,635,180	$ 0	0	I	Held by Crystal Gem Holdings Limited
Series E-3 preferred shares	$ 0	06/26/2026		C			17,267,771	(4)	(4)	Class B ordinary shares	17,267,771	$ 0	0	I	Held by Cheche Group Limited
Series F preferred shares	$ 0	06/26/2026		C			1,139,559	(4)	(4)	Class B ordinary shares	1,139,559	$ 0	0	I	Held by Binary Sky Limited

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Yao Junhong NO.175 WUCHANG AVENUE, YUHANG DISTRICT HANGZHOU 311100	X	X	Chief Executive Officer

Signatures

/s/ Junhong Yao		06/29/2026
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Immediately prior to the completion of the Issuer's initial public offering, each ordinary share was redesignated as Class B ordinary shares on a one-for-one basis.
(2)	Immediately prior to the completion of the Issuer's initial public offering, each ordinary share was redesignated as Class A ordinary shares on a one-for-one basis.
(3)	Immediately prior to the completion of the Issuer's initial public offering, such Series D-1 and Series E-2 preferred shares were converted and redesignated as Class A ordinary shares.
(4)	Immediately prior to the completion of the Issuer's initial public offering, such Series E-1, Series E-2, Series E-3 and Series F preferred shares were converted and redesignated as Class B ordinary shares.

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