FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF 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 * Hugreat Ltd (Last) (First) (Middle) C/O ALPEX ACQUISITION CORPORATION 300 DELAWARE AVE. SUITE 210 #494 (Street) WILMINGTON DE 19801 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 06/24/2026	3. Issuer Name and Ticker or Trading Symbol Alpex Acquisition Corp [ ALPX ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Ordinary Shares	180,000 (1) (2)	D
Class B Ordinary Shares	2,475,000 (3)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Private Rights	(5)	(5)	Class A Ordinary Shares	45,000 (1) (4)	0	D

Explanation of Responses:

1. Hugreat Ltd., a British Virgin Island company (the "Sponsor"), is the record holder of the securities reported herein. Ms. Ningdi Shi is the sole member and director of the Sponsor, which entitles her to voting, dispositive or investment power over the Sponsor. As such, Ms. Ningdi Shi is deemed to have voting and dispositive rights over the securities of Alpex Acquisition Corporation (the "Issuer") held by the Sponsor.

2. Including 180,000 Class A ordinary shares underlying the private units (the "Private Units") of the Issuer to be acquired by the Sponsor in a private placement (the "Private Placement") simultaneously with the consummation of the initial public offering of the Issuer. Each Private Unit consists of one Class A ordinary share, one redeemable warrant, and one right to receive one-fourth (1/4) of one Class A ordinary share.

3. Represents 2,475,000 Class B ordinary shares (or insider shares) of the Issuer acquired by the Sponsor prior to the IPO, including up to 375,000 shares subject to forfeiture to the extent that the over-allotment option by the underwriters is not exercised full or in part.

4. Represents 45,000 Class A ordinary shares of the Issuer to be converted from 180,000 private rights of the Issuer, each private right of the Issuer entitling the holder to receive one-fourth (1/4) of one Class A ordinary share of the Issuer, underlying the Private Units to be acquired by the Sponsor in the Private Placement.

5. As described in the Rights Agreement between the Issuer and VStock Transfer, LLC, which is filed as Exhibit 4.4 of the Registration Statement, each private right of the Issuer will automatically convert into one-fourth (1/4) of one Class A ordinary share of the Issuer upon the completion of the Issuer's initial business combination.

	/s/ Ningdi Shi as Director of Hugreat Ltd.	06/24/2026
	** Signature of Reporting Person	Date
	/s/ Ningdi Shi	06/24/2026
	** Signature of Reporting Person	Date
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