SEC FORM 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person ^*

Luo Cheng

(Last)

(First)

(Middle)

16/F, TOWER A, FAIRMONT TOWER,

33 GUANGSHUN NORTH MAIN ST, CHAOYANG

(Street)

BEIJING

100102

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Cloopen Group Holding Ltd [ RAASY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/28/2026

4. If Amendment, Date of 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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A ordinary shares	10/28/2026		D		120,000	D	⁽¹⁾ ⁽²⁾	0	I	See Footnote ⁽³⁾
Class A ordinary shares	10/28/2026		D		280,000	D	⁽¹⁾ ⁽⁴⁾	0	I	See Footnote ⁽⁵⁾

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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Share Units	$ 0	10/28/2026		D			450,000	⁽⁶⁾	⁽⁶⁾	Class A ordinary share	450,000	⁽⁷⁾	0	D
Restricted Share Units	$ 0	10/28/2026		D			1,050,000	⁽⁶⁾	⁽⁶⁾	Class A ordinary share	1,050,000	⁽⁸⁾	0	D

Explanation of Responses:

1. This Form 4 reports securities disposed of under the Agreement and Plan of Merger, dated May 12, 2026 (the "Merger Agreement"), by and among the Issuer, SpringX Holdings Limited ("Parent"), AutumnX Holdings Limited ("Holdco"), a wholly-owned subsidiary of Parent and SummerX Holdings Limited ("Merger Sub"), a wholly-owned subsidiary of Holdco. Pursuant to be Merger Agreement, Merger Sub was merged with and into the Issuer (the "Merger"), with the Issuer being the surviving company of the Merger as a wholly-owned subsidiary of Holdco. Upon completion of the Merger, the Issuer became a privately-held company.

2. Pursuant to the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each Class A ordinary share, par value US$0.0001 per share, of the Issuer (each, a "Class A Ordinary Share") issued and outstanding immediately prior to the Effective Time, was canceled and ceased to exist in exchange for the right to receive US$0.4940 in cash per Class A Ordinary Share, without interest, and each American depositary share, each representing six Class A Ordinary Shares (each, an "ADS"), together with the Class A Ordinary Shares represented by such ADS, was canceled in exchange for the right to receive US$2.9641 in cash per ADS, without interest, in each case subject to the terms and conditions of the Merger Agreement. The Class A Ordinary Shares reported in this row were held in the form of ADSs. See Footnote (3).

3. As previously reported on the Reporting Person's Form 3, the Reporting Person beneficially owned 400,000 Class A Ordinary Shares, held of record by Flawless Success Limited, which acts as a nominee for an employee trust holding shares for the benefit of grantees under the Issuer's share incentive plans. 120,000 of such Class A Ordinary Shares were subsequently deposited with The Bank of New York Mellon in exchange for ADSs, which are held by Flawless Success Limited. Such deposit effected only a change in the form of beneficial ownership without changing the Reporting Person's pecuniary interest. Accordingly, the amounts reported herein are stated in terms of the underlying Class A Ordinary Shares rather than ADSs.

4. In connection with the Merger, Flawless Success Limited entered into a support agreement, dated as of May 12, 2026, pursuant to which, among other things, at the Effective Time, each Class A Ordinary Share reported in this row and beneficially owned by Mr. Luo Cheng was cancelled in exchange for one ordinary share newly issued by HoldCo.

5. These Class A Ordinary Shares are held by Flawless Success Limited, which acts as a nominee for an employee trust holding shares for the benefit of grantees under the Issuer's share incentive plans.

6. Each of these restricted stock units of the Issuer ("RSU") represented a contingent right to receive one share of Class A Ordinary Share. On April 1, 2024, Mr. Luo Cheng was granted 1,500,000 RSUs. The RSUs have all vested.

7. Pursuant to the Merger Agreement, at the Effective Time, each of these RSUs that was vested as of April 30, 2026 was canceled and converted into the right to receive an amount in cash equal to US$0.4940 per RSU, subject to the terms and conditions of the Merger Agreement.

8. Pursuant to the Merger Agreement, at the Effective Time, each of these RSUs that was vested as of April 30, 2026, was canceled and, in exchange therefor, Mr. Luo Cheng was issued a vested award comprised of other rights or property to the extent permitted by applicable laws, which shall be subject to terms and conditions substantially equivalent to those of such vested RSUs, as reasonably determined by both HoldCo and the Issuer.

	/s/ Cheng Luo	10/29/2026
	** Signature of Reporting Person	Date
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