Schedule 13G Amendment No. 1

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

(Amendment No. 1)

 

Under the Securities Exchange Act of 1934

 

 

 

 

Acorn International, Inc.

(Name of Issuer)

 

 

Ordinary Shares*

American Depositary Shares

(Title of Class of Securities)

 

 

004854105**

(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:

¨ Rule 13d-1(b)

¨ Rule 13d-1(c)

x 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 disclosures provided in a prior cover page.

 

* Not for trading, but only in connection with the registration of American Depositary Shares each representing 3 ordinary shares.

 

** This CUSIP applies to the American Depositary Shares.

The information required on 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. 004854105    SCHEDULE 13G    Page 2 of 7 Pages

 

  1  

NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

            Don Dongjie Yang

   
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ¨

(b)  x

   
  3  

SEC USE ONLY

 

   
  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            People’s Republic of China

   

 

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

 

  5    SOLE VOTING POWER

 

            8,582,3011

 

  6    SHARED VOTING POWER

 

            0

 

  7    SOLE DISPOSITIVE POWER

 

            8,582,3011

 

  8    SHARED DISPOSITIVE POWER

 

            0

 

  9  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            8,582,3011

   
10  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

 

 

¨

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

            9.5%2

   
12  

TYPE OF REPORTING PERSON*

 

            IN

   

 

1

Includes (i) 6,593,656 ordinary shares held by D.Y. Capital, Inc., a company solely owned by Mr. Don Dongjie Yang; and (ii) 1,988,645 ordinary shares issuable upon exercise of options and stock appreciation rights, or SARs, held by Mr. Yang, which includes options and SARS vesting within 60 days of December 31, 2008.

2

Based on 90,198,013 total shares, which includes (i) 88,209,368 outstanding ordinary shares as of December 31, 2008; and (ii) 1,988,645 ordinary shares issuable pursuant to options and SARs held by Mr. Yang.


CUSIP No. 004854105    SCHEDULE 13G    Page 3 of 7 Pages

 

  1  

NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

            D.Y. Capital, Inc.

   
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ¨

(b)  x

   
  3  

SEC USE ONLY

 

   
  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

        British Virgin Islands

   

 

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

 

  5    SOLE VOTING POWER

 

            6,593,6563

 

  6    SHARED VOTING POWER

 

            0

 

  7    SOLE DISPOSITIVE POWER

 

            6,593,6563

 

  8    SHARED DISPOSITIVE POWER

 

            0

 

  9  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            6,593,6563

   
10  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

 

 

¨

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

            7.5%4

   
12  

TYPE OF REPORTING PERSON*

 

            CO

   

 

3

Includes 6,593,656 ordinary shares held by D.Y. Capital, Inc., a company solely owned by Mr. Yang.

4

Based on 88,209,368 outstanding ordinary shares as of December 31, 2008.


CUSIP No. 004854105    SCHEDULE 13G    Page 4 of 7 Pages

 

Item 1  

(a)

   Name of Issuer:      
     Acorn International, Inc. (“Issuer”)      
Item 1  

(b)

   Address of Issuer’s Principal Executive Offices:      
     18F, 20 Baoshiyuan Building, 487 Tianlin Lu, Shanghai 200233, People’s Republic of China      
Item 2  

(a)

   Name of Person Filing:      
    

Don Dongjie Yang

D.Y. Capital, Inc.

     
Item 2  

(b)

   Address of Principal Business Office or, If None, Residence; Citizenship      
    

Don Dongjie Yang

c/o Acorn International Inc.

18F, 20 Baoshiyuan Building, 487 Tianlin Lu

Shanghai 200233

People’s Republic of China

 

D.Y. Capital, Inc.

P.O. Box 71

Road Town

Tortola, British Virgin Islands

     
Item 2  

(c)

   Citizenship      
    

Don Dongjie Yang - People’s Republic of China

D.Y. Capital, Inc. - British Virgin Islands

     
Item 2  

(d)

   Title of Class of Securities:      
    

Ordinary shares, par value US$0.01

American Depositary Shares

     
Item 2  

(e)

   CUSIP Number:      
     004854105      
Item 3.      Statement Filed Pursuant to Rule 13d-1(b) or 13d-2(b) or (c):      
     Not applicable.      


CUSIP No. 004854105    SCHEDULE 13G    Page 5 of 7 Pages

 

Item 4.    Ownership           
  

(a)    Amount Beneficially Owned:

          
     

Reporting Person

   Amount
beneficially
owned:
   Percent
of class:
  Sole power
to vote or
direct

the vote:
   Shared power
to vote or to
direct

the vote:
   Sole power to
dispose or to
direct the

disposition of:
   Shared power
to dispose or to
direct the
disposition of:
   Don Dongjie Yang    8,582,301

ordinary
shares

   9.5%5   8,582,301

ordinary

shares

   0    8,582,301

ordinary

shares

   0
   D.Y. Capital, Inc.    6,593,656

ordinary

shares

   7.5%6   6,593,656

ordinary

shares

   0    6,593,656

ordinary

shares

   0
   D.Y. Capital, Inc. is the record owner of 6,593,656 ordinary shares of the Issuer. Mr. Yang is the sole shareholder of D.Y. Capital, Inc. Accordingly, Mr. Yang may be deemed to beneficially own all of the shares held by D.Y. Capital, Inc.
Item 5.    Ownership of Five Percent or Less of a Class
   Not applicable.
Item 6.    Ownership of More Than Five Percent on Behalf of Another Person
   Not applicable.
Item 7.    Identification and Classification of 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.    Certifications
   Not applicable.

 

5

Based on 90,198,013 total shares, which includes (i) 88,209,368 outstanding ordinary shares as of December 31, 2008; and (ii) 1,988,645 ordinary shares issuable pursuant to options and SARs held by Mr. Yang, which includes options and SARS vesting within 60 days of December 31, 2008.

6

Based on 88,209,368 outstanding ordinary shares as of December 31, 2008.


CUSIP No. 004854105    SCHEDULE 13G    Page 6 of 7 Pages

 

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. In addition, by signing below, the undersigned agrees that this Schedule 13G may be filed jointly on behalf of each of the Reporting Persons.

Dated: January 22, 2009

 

  Don Dongjie Yang
 

/s/ Don Dongjie Yang

  D.Y. Capital, Inc.
By:  

/s/ Don Dongjie Yang

Name:   Don Dongjie Yang
Title:   Director


CUSIP No. 004854105    SCHEDULE 13G    Page 7 of 7 Pages

 

LIST OF EXHIBITS

 

Exhibit No.

  

Description

A    Joint Filing Agreement