[S-8] Yuanbao Inc. American Employee Benefit Plan Registration

Rhea-AI Filing Summary

On 11 July 2025, Yuanbao Inc. (symbol YB) filed a Form S-8 with the SEC to register Class A ordinary shares issuable under two employee equity plans: the 2020 Share Option Plan and the 2024 Equity Incentive Plan. The Cayman-incorporated, Beijing-based company self-identifies as a non-accelerated filer and an emerging growth company. No new financial statements or transaction details are included; the document primarily incorporates the company’s April 2025 IPO prospectus and related Exchange Act filings by reference.

Key procedural elements include: (1) standard undertakings to update the registration through post-effective amendments; (2) Cayman-law provisions and separate agreements that indemnify directors and officers, subject to public-policy limits; and (3) an exhibit list covering legal opinions, auditor consent, and the full text of both incentive plans. The filing enables Yuanbao to issue shares for employee and director compensation, a routine post-IPO compliance step that does not, by itself, alter the company’s financial outlook.

Insights

Securities Analyst

TL;DR: Routine Form S-8 registering shares for two equity plans; no financial metrics disclosed; neutral valuation impact.

This filing simply green-lights share issuance under existing 2020 and 2024 compensation plans. Such post-IPO S-8s are common and normally modestly dilutive, but the document does not specify the number of shares or aggregate value, limiting any quantitative assessment. All material information is incorporated by reference, and no new operational or earnings data are revealed. As a result, the disclosure is procedural rather than market-moving.

As filed with the Securities and Exchange Commission on July 11, 2025

 

Registration No. 333-

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM S-8

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

 

Yuanbao Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Cayman Islands	Not Applicable
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification Number)

 

Building 2, No.8 Beichen West Road 

Chaoyang District, Beijing, 100101 

The People’s Republic of China 

(Address of Principal Executive Offices and Zip Code)

 

 

 

2020 Share Option Plan 

2024 Equity Incentive Plan 

(Full title of the plan)

 

 

 

Cogency Global Inc. 

122 East 42nd Street, 18th Floor 

New York, NY 10168 

(212) 947-7200 

(Name, address, including zip code, and telephone number, including area code, of agent for service)

 

 

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	x	Smaller reporting company	¨
 		Emerging growth company	x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ¨

 

Copies to:

 

Huirui Wan 

Chief Financial Officer 

Yuanbao Inc. 

Building 2, No.8 Beichen West Road 

Chaoyang District, Beijing, 100101 

The People’s Republic of China 

+86 10 64849901

 

 

 

 

 

 

PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS

 

Item 1. Plan Information*

 

Item 2. Registrant Information and Employee Plan Annual Information*

 

* Information required by Part I to be contained in the Section 10(a) prospectus is omitted from this registration statement in accordance with Rule 428 under the Securities Act and the Note to Part I of Form S-8. The documents containing information specified in this Part I will be separately provided to the participants covered by the 2020 Share Option Plan (the “2020 Plan”) and 2024 Equity Incentive Plan (the “2024 Plan”), as specified by Rule 428(b)(1) under the Securities Act.

 

PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

 

Item 3. Incorporation of Documents by Reference

 

The following documents previously filed by Yuanbao Inc. (the “Registrant”) with the Securities and Exchange Commission (the “Commission”) are incorporated by reference herein:

 

(a) The Registrant’s prospectus dated April 29, 2025 filed with the Commission on April 30, 2025 pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (the “Securities Act”) (File No. 333-282164); and

 

(b) The description of the Registrant’s Class A ordinary shares contained in the Registrant’s registration statement on Form 8-A under the Exchange Act of 1934, as amended (the “Exchange Act”) filed on April 24, 2025, as modified by any amendment or report filed for the purpose of updating such description (File No. 001-42616).

 

All documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), after the date of this registration statement and prior to the filing of a post-effective amendment to this registration statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this registration statement and to be part hereof from the date of filing of such documents. Any statement in a document incorporated or deemed to be incorporated by reference in this registration statement will be deemed to be modified or superseded to the extent that a statement contained in this registration statement or in any other later filed document that also is or is deemed to be incorporated by reference modifies or supersedes such statement. Any such statement so modified or superseded will not be deemed, except as so modified or superseded, to be a part of this registration statement.

 

Item 4. Description of Securities

 

Not applicable.

 

Item 5. Interests of Named Experts and Counsel

 

Not applicable.

 

Item 6. Indemnification of Directors and Officers

 

Cayman Islands law does not limit the extent to which a company’s articles of association may provide for indemnification of directors and officers, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. The Registrant’s sixth amended and restated memorandum and articles of association provides that the Registrant shall indemnify its directors and officers against all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or sustained by such persons other than by reason of their own dishonesty, willful default or fraud, in or about the conduct of the Registrant’s business or affairs (including as a result of any mistake of judgment) or in the execution or discharge of their duties, powers, authorities or discretions, including without prejudice to the generality of the foregoing, any costs, expenses, losses or liabilities incurred by such persons in defending (whether successfully or otherwise) any civil proceedings concerning the Registrant or its affairs in any court whether in the Cayman Islands or elsewhere.

 

Pursuant to the indemnification agreement, the form of which was filed as Exhibit 10.3 to the Registrant’s registration statement on Form F-1, as amended (File No. 333-282164), the Registrant has agreed to indemnify its directors and executive officers against certain liabilities and expenses incurred by such persons in connection with claims made by reason of their being directors or officers of the Registrant.

 

The Registrant also maintains a directors and officers liability insurance policy for its directors and officers.

 

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Item 7. Exemption from Registration Claimed

 

Not applicable.

 

Item 8. Exhibits

 

See the Index to Exhibits attached hereto.

 

Item 9. Undertakings

 

(a) The undersigned Registrant hereby undertakes:

 

(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

 

(i) to include any prospectus required by Section 10(a)(3) of the Securities Act;

 

(ii) to reflect in the prospectus any facts or events arising after the effective date of this registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this registration statement; and

 

(iii) to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to that information in the registration statement;

 

provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this registration statement;

 

(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

 

(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

 

(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant’s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

 

(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

 

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EXHIBIT INDEX

 

Exhibit Number	 	Description
 	 	 
4.1	 	Sixth Amended and Restated Memorandum and Articles of Association of the Registrant (incorporated herein by reference to Exhibit 3.2 to the registration statement on Form F-1, as amended (File No. 333-282164))
 	 	 
4.2	 	Registrant’s Specimen Certificate for Class A ordinary shares (incorporated herein by reference to Exhibit 4.2 to the registration statement on Form F-1, as amended (File No. 333-282164))
 	 	 
4.3	 	Form of Deposit Agreement between the Registrant, the depositary and holders of the American Depositary Shares (incorporated herein by reference to Exhibit 4.3 to the registration statement on Form F-1, as amended) (File No. 333-282164)
 	 	 
5.1*	 	Opinion of Maples and Calder (Hong Kong) LLP, Cayman Islands counsel to the Registrant, regarding the legality of the Class A ordinary shares being registered
 	 	 
10.1	 	2020 Share Option Plan (incorporated herein by reference to Exhibit 10.1 to the registration statement on Form F-1, as amended (File No. 333-282164))
 	 	 
10.2	 	2024 Equity Incentive Plan (incorporated herein by reference to Exhibit 10.2 to the registration statement on Form F-1, as amended (File No. 333-282164))
 	 	 
23.1*	 	Consent of PricewaterhouseCoopers Zhong Tian LLP
 	 	 
23.2*	 	Consent of Maples and Calder (Hong Kong) LLP (included in Exhibit 5.1)
 	 	 
24.1*	 	Power of Attorney (included on signature page hereto)
 	 	 
107*	 	Filing Fee Table

 

* Filed herewith.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Beijing, China, on July 11, 2025.

 

Yuanbao Inc.		 
 	 	 
By:	/s/ Rui Fang	 
Name:	Rui Fang	 
Title:	Chairman of the Board and Chief Executive Officer	 

 

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POWER OF ATTORNEY

 

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints, severally and not jointly, each of Rui Fang and Huirui Wan, with full power to act alone, as his or her true and lawful attorney-in-fact, with the power of substitution, for and in such person’s name, place, and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact full power and authority to do and perform each and every act and thing requisite and necessary to be done as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that each said attorney-in-fact may lawfully do or cause to be done by virtue hereof.

 

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities on July 11, 2025.

 

Signature	 	Title
 	 	 
/s/ Rui Fang	 	Chairman of the Board and Chief Executive Officer
Rui Fang	 	(Principal Executive Officer)
 	 	 
/s/ Ying Li	 	Director and Chief Operating Officer
Ying Li	 	 
 	 	 
/s/ Shuli Sun	 	Director and Chief Product Officer
Shuli Sun	 	 
 	 	 
/s/ Dong Li	 	Independent Director
Dong Li	 	 
 	 	 
/s/ Xu Han	 	Independent Director
Xu Han	 	 
 	 	 
/s/ Huirui Wan	 	Chief Financial Officer
Huirui Wan	 	(Principal Financial and Accounting Officer)

 

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SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES

 

Pursuant to the Securities Act of 1933, the undersigned, the duly authorized representative in the United States of Yuanbao Inc., has signed this registration statement or amendment thereto in New York, New York on July 11, 2025.

 

Authorized U.S. Representative		 
 		 
Cogency Global Inc.		 
 	 	 
By:	/s/ Collen A. De Vries	 
Name:	Collen A. De Vries	 
Title:	Senior Vice President	 

 

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FAQ

What did Yuanbao Inc. (YB) file on 11 July 2025?

The company filed a Form S-8 registration statement to register Class A ordinary shares for employee equity plans.

Which equity compensation plans are covered by the Form S-8?

The filing covers the 2020 Share Option Plan and the 2024 Equity Incentive Plan.

Is Yuanbao Inc. classified as an emerging growth company in this filing?

Yes. The registrant checked the box designating itself as an emerging growth company.

Does the Form S-8 disclose how many shares are being registered?

No. The excerpt provided does not specify the number of shares; only plan titles and standard undertakings are shown.

What indemnification provisions are mentioned?

Under Cayman law and company articles, directors and officers are indemnified against liabilities not arising from dishonesty, willful default, or fraud.