Class A Ordinary Share, par value $0.09 per share

Maase Inc.

Building 48, Zhixin Manufacturing Valley, Laixi, Qingdao, Shandong, F4, 266000

Item 5(a) of this Schedule 13D is hereby amended and supplemented to add the following: The aggregate number of ordinary shares beneficially owned by the Reporting Persons is 78,564,455 Class A Ordinary Shares directly held by Arts Wing Limited which is 100% owed by Robert Liu. Pursuant to Section 13(d) of the Exchange Act and the rules promulgated thereunder, Mr. Liu may be deemed to beneficially own all of the ordinary shares of the Issuer held by Arts Wing Limited. The Reporting Persons' aggregate percentage of beneficial ownership is 17.77%, representing 7.13% of the voting power of the Issuer. Percentage of beneficial ownership of Reporting Persons is based on 442,175,578 ordinary shares (excluding treasury shares), comprising of 435,508,910 Class A Ordinary Shares (excluding treasury shares) and 6,666,668 Class B ordinary shares, par value $0.09 per share (the "Class B Ordinary Shares") of the Issuer outstanding as of April 7, 2026 according to records of the Issuer. Each Class A Ordinary Share is entitled to one (1) vote while each Class B Ordinary Share is entitled to one hundred (100) votes on any and all matters submitted for a vote. The change in the Reporting Persons' beneficial ownership reflects (i) the disposals by the Reporting Persons of 4,020,000 Class A Ordinary Shares on January 21, 2026 and 9,537,589 Class A Ordinary Shares on April 7, 2026, in each case, in a privately negotiated transaction, and (ii) the Issuer's issuance of additional Class A Ordinary Shares on March 30, 2026 in connection with separate transactions to which neither of the Reporting Persons was a party.

Each of the Reporting Persons has sole voting and dispositive power over the Class A Ordinary Shares of reported in this Schedule 13D.

Item 5 of this Schedule 13D is hereby amended and supplemented to add the following: On January 21, 2026, the Reporting Persons disposed of 4,020,000 Class A Ordinary Shares of the Issuer in a privately negotiated transaction for aggregate consideration of approximately $6.0 million. On April 7, 2026, the Reporting Persons disposed of 9,537,589 Class A Ordinary Shares of the Issuer in privately negotiated transactions for aggregate consideration of approximately $32.0 million.

To the best knowledge of the Reporting Persons, except for the agreement described in this Schedule 13D, no one other than the Reporting Persons, or the holders of interests in the Reporting Persons, has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the ordinary shares of the Issuer that they beneficially own.

Not applicable.