Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Filing Details

Accession Number:
0000902664-18-001174
Form Type:
13G Filing
Publication Date:
2018-02-14 17:00:01
Filed By:
SRS Investment Management
Company:
Ehi Car Services Ltd
Filing Date:
2018-02-14
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
SRS Investment Management 0 4,192,864 0 4,192,864 4,192,864 5.6 12 TYPE OF REPORTING PERSON IA, OO Held in the form of 2,096,432 American Depositary Shares ( ADS ), each of which represents two Class A Shares. CUSIP No. 26853A100 SCHEDULE 13G A Page 3 of 7 Pages 1 NAME OF REPORTING PERSON Karthik R. Sarma 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States of America NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER 0 6 SHARED VOTING POWER 4,192,864 7 SOLE DISPOSITIVE POWER 0 8 SHARED DISPOSITIVE POWER 4,192,864 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,192,864 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.6%
Karthik R. Sarma 0 4,192,864 0 4,192,864 4,192,864
Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13G/A
 
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
 

eHi Car Services Limited

(Name of Issuer)
 

Class A Common Shares, par value $0.001 per share

(Title of Class of Securities)
 

26853A100

(CUSIP Number)
 

December 31, 2017

(Date of Event Which Requires Filing of This Statement)
 
 
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
x Rule 13d-1(b)
¨ Rule 13d-1(c)
¨ Rule 13d-1(d)
 
(Page 1 of 9 Pages)

 

______________________________

*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 the disclosures provided in a prior cover page.

The information required in 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).

 

 

 

 

1

NAME OF REPORTING PERSON

SRS Investment Management, LLC

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) ¨

3 SEC USE ONLY
4

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:
5

SOLE VOTING POWER

0

6

SHARED VOTING POWER

4,192,864*

7

SOLE DISPOSITIVE POWER

0

8

SHARED DISPOSITIVE POWER

4,192,864*

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

4,192,864*

10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ¨
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

5.6*

12

TYPE OF REPORTING PERSON

IA, OO

         

 

 

*Held in the form of 2,096,432 American Depositary Shares ("ADS"), each of which represents two Class A Shares.

 

 

 

1

NAME OF REPORTING PERSON

Karthik R. Sarma

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) ¨

3 SEC USE ONLY
4

CITIZENSHIP OR PLACE OF ORGANIZATION

United States of America

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:
5

SOLE VOTING POWER

0

6

SHARED VOTING POWER

4,192,864*

7

SOLE DISPOSITIVE POWER

0

8

SHARED DISPOSITIVE POWER

4,192,864*

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

4,192,864*

10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ¨
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

5.6%*

12

TYPE OF REPORTING PERSON

IN, HC

         

 

*Held in the form of 2,096,432 American Depositary Shares ("ADS"), each of which represents two Class A Shares.

 

 

 

 

Item 1(a). NAME OF ISSUER
   
  eHi Car Services Limited (the "Issuer")

 

Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
   
  Unit 12/F, Building No. 5, Guosheng Center, 388 Daduhe Road, Shanghai, 200062, People's Republic of China.
   
Item 2(a). NAME OF PERSON FILING
   
  This Statement is being filed by SRS Investment Management, LLC, a Delaware limited liability company (the "Investment Manager"), and Karthik R. Sarma, the Managing Member of the Investment Manager ("Mr. Sarma" and, together with the Investment Manager, the "Reporting Persons").
   
  This Statement relates to the Class A Shares (as defined herein) held for the accounts of SRS Partners I Mauritius Limited (the "Mauritius I") and SRS Partners II Mauritius Limited ("Mauritius II" and, together with Mauritius I, the "Funds"). The Investment Manager serves as investment manager to the Funds. Mr. Sarma is the managing member and sole control person over the Investment Manager. In such capacities, Mr. Sarma and the Investment Manager may be deemed to have voting and dispositive power with respect to the Class A Shares held for the Funds.

 

Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
  The principal business office of each of the Reporting Persons is 1 Bryant Park, 39th Floor, New York, NY 10036.
   

 

Item 2(c). CITIZENSHIP
  The Investment Manager is a Delaware limited liability company. Mr. Sarma is a resident of the United States and a citizen of the Republic of India.
   

 

Item 2(d). TITLE OF CLASS OF SECURITIES
  Class A Common Shares, par value $0.001 per share (the "Class A Shares")
   

 

Item 2(e). CUSIP NUMBER
  26853A100
   

 

 

 

 

Item 3. IF THIS STATEMENT IS FILED PURSUANT TO Rules 13d-1(b), OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:

 

  (a) ¨ Broker or dealer registered under Section 15 of the Act;
  (b) ¨ Bank as defined in Section 3(a)(6) of the Act;
  (c) ¨ Insurance company as defined in Section 3(a)(19) of the Act;
  (d) ¨ Investment company registered under Section 8 of the Investment Company Act of 1940;
  (e) x An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
  (f) ¨ An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);
  (g) x A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);
  (h) ¨ A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act;
  (i) ¨ A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act;
  (j) ¨ A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J);
  (k) ¨ Group, in accordance with Rule 13d-1(b)(1)(ii)(K).

 

  If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: Not applicable.                             

 

Item 4. OWNERSHIP
   
Item 4(a) Amount Beneficially Owned
  As of December 31, 2017, each of the Reporting Persons may be deemed the beneficial owner of 4,192,864 Class A Shares. This amount consists of 1,974,528 Class A Shares held for the account of the Mauritius I (held in the form of 987,264 ADSs (as defined in Item 4(c))) and 2,218,336 Class A Shares held for the account of the Mauritius II (held in the form of 1,109,168 ADSs).
   

 

 

Item 4(b) Percent of Class:
   
  As of December 31, 2017, each of the Reporting Persons may be deemed the beneficial owner of approximately 5.6% of the total number of Class A Shares outstanding. The percentages used herein and in the rest of this Schedule 13G/A are calculated based 74,279,018 Class A Shares outstanding as of October 31, 2017 as reported in Exhibit 99.2 attached to the Issuer's Report of Foreign Private Issuer on Form 6-K filed with the Securities and Exchange Commission on November 30, 2017.
   
Item 4(c) Number of Shares of which such person has:
   
  Investment Manager and Mr. Sarma:

 

  (i) Sole power to vote or direct the vote: 0
  (ii) Shared power to vote or direct the vote: 4,192,864*
  (iii) Sole power to dispose or direct the disposition of: 0
  (iv) Shared power to dispose or direct the disposition of: 4,192,864*

 

  *Held in the form of 2,096,432 American Depositary Shares ("ADS"), each of which represents two Class A Shares.

 

Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
  This Item 5 is not applicable.
   
Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
  See disclosure in Items 2 and 4 hereof. Each of the funds listed in Item 2(a) has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5% of the Class A Shares.
   
Item 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON  
  See disclosure in Item 2 hereof.  

 

Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
  This Item 8 is not applicable.

 

Item 9. NOTICE OF DISSOLUTION OF GROUP
  This Item 9 is not applicable.

 

Item 10. CERTIFICATION  
   
  By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §240.14a-11.

 

 

SIGNATURES

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.

 

 

SRS INVESTMENT

MANAGEMENT, LLC

   
  /s/ David B. Zales
  Name:  David B. Zales
  Title: General Counsel
   
   
  KARTHIK R. SARMA
   
  /s/ Karthik R. Sarma
   

 

February 14, 2018