Major Yuanbao Inc. (YB) holders disclose 11.2%, 7.9% and 2.8% stakes

Rhea-AI Filing Summary

Lunar Link Limited, Rocket Wise Limited and HIKE Capital III L.P. have updated their beneficial ownership in Yuanbao Inc. through an Amendment No. 1 to a Schedule 13G. The filing covers the company’s Class A ordinary shares.

Lunar Link reports beneficial ownership of 21,693,913 Class A shares, representing 11.2% of the class, with sole voting and dispositive power. Rocket Wise reports 15,287,443 shares, or 7.9%, also with sole voting and dispositive power. HIKE Capital III L.P. reports 5,409,944 shares, or 2.8%, with sole voting and dispositive power.

The ownership percentages are based on 194,348,706 Class A ordinary shares outstanding as of October 20, 2025, as reported by Yuanbao Inc. All three reporting persons certify the information as true, complete and correct and have entered into a joint filing agreement.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Yuanbao Inc.

(Name of Issuer)

Class A Ordinary Shares, par value of US$0.0001 per share

(Title of Class of Securities)

987910106

(CUSIP Number)

12/31/2025

(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)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 987910106

1

Names of Reporting Persons

HIKE Capital III L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,409,944.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,409,944.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,409,944.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.8 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: Note to Row (11): The percentage is calculated based upon an aggregate of 194,348,706 Class A Ordinary Shares outstanding as of October 20, 2025, which is based on the information provided by the Issuer.

SCHEDULE 13G

CUSIP No. 987910106

1

Names of Reporting Persons

Lunar Link Ltd

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 21,693,913.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 21,693,913.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

21,693,913.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.2 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: Note to Row (11): The percentage is calculated based upon an aggregate of 194,348,706 Class A Ordinary Shares outstanding as of October 20, 2025, which is based on the information provided by the Issuer.

SCHEDULE 13G

CUSIP No. 987910106

1

Names of Reporting Persons

Rocket Wise Ltd

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 15,287,443.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 15,287,443.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,287,443.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.9 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: Note to Row (11): The percentage is calculated based upon an aggregate of 194,348,706 Class A Ordinary Shares outstanding as of October 20, 2025, which is based on the information provided by the Issuer.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Yuanbao Inc.
(b)	Address of issuer's principal executive offices: BUILDING 2, NO.8 BEICHEN WEST ROAD, CHAOYANG DISTRICT, BEIJING, CHINA, 100101.
Item 2.
(a)	Name of person filing: Lunar Link Limited Rocket Wise Limited HIKE Capital III L.P.
(b)	Address or principal business office or, if none, residence: The address of Lunar Link Limited is Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands. The address of Rocket Wise Limited is Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands. The address of HIKE Capital III L.P. is POBox 309, Ugland House, Grand Cayman, KY1-1104, Cayman lslands.
(c)	Citizenship: Lunar Link Limited - British Virgin Island Rocket Wise Limited - British Virgin Island HIKE Capital III L.P. - Cayman Islands
(d)	Title of class of securities: Class A Ordinary Shares, par value of US$0.0001 per share
(e)	CUSIP No.: 987910106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Lunar Link Limited: 21,693,913 Class A ordinary shares Rocket Wise Limited: 15,287,443 Class A ordinary shares HIKE Capital III L.P.: 5,409,944 Class A ordinary shares
(b)	Percent of class: Lunar Link Limited: 11.2% Rocket Wise Limited: 7.9% HIKE Capital III L.P.: 2.8% Note: The percentage is calculated based upon an aggregate of 194,348,706 Class A Ordinary Shares outstanding as of October 20, 2025, which is based on the information provided by the Issuer.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Lunar Link Limited - 21,693,913 Rocket Wise Limited - 15,287,443 HIKE Capital III L.P. - 5,409,944
	(ii) Shared power to vote or to direct the vote: N/A
	(iii) Sole power to dispose or to direct the disposition of: Lunar Link Limited - 21,693,913 Rocket Wise Limited - 15,287,443 HIKE Capital III L.P. - 5,409,944
	(iv) Shared power to dispose or to direct the disposition of: N/A
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the 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

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.

HIKE Capital III L.P.

Signature:	/s/ Shi XU
Name/Title:	Authorized Signatory
Date:	02/12/2026

Lunar Link Ltd

Signature:	/s/ Shi XU
Name/Title:	Authorized Signatory
Date:	02/12/2026

Rocket Wise Ltd

Signature:	/s/ Shi XU
Name/Title:	Authorized Signatory
Date:	02/12/2026

Exhibit Information

Exhibit 99.1 - Joint Filing Agreement dated February 12, 2026, by and among the Reporting Persons

FAQ

What does the latest Schedule 13G/A disclose for Yuanbao Inc. (YB)?

The filing updates significant shareholder positions in Yuanbao Inc.’s Class A ordinary shares. It shows three entities – Lunar Link, Rocket Wise and HIKE Capital III – reporting sizeable stakes with sole voting and dispositive power, based on the issuer’s stated outstanding share count.

How much of Yuanbao Inc. (YB) does Lunar Link Limited own?

Lunar Link Limited reports beneficial ownership of 21,693,913 Class A ordinary shares of Yuanbao Inc., representing 11.2% of that class. It has sole power to vote and dispose of all these shares, indicating direct control over this block.

What is Rocket Wise Limited’s stake in Yuanbao Inc. (YB)?

Rocket Wise Limited reports beneficial ownership of 15,287,443 Class A ordinary shares of Yuanbao Inc., equal to 7.9% of the class. It holds sole voting and dispositive power over these shares, meaning it alone controls voting and sale decisions for this position.

How many Yuanbao Inc. (YB) shares does HIKE Capital III L.P. hold?

HIKE Capital III L.P. reports beneficial ownership of 5,409,944 Class A ordinary shares of Yuanbao Inc., representing 2.8% of the class. It has sole voting and dispositive power for this stake, giving it individual authority over related voting and disposition.

What share count is used to calculate ownership percentages for Yuanbao Inc. (YB)?

The ownership percentages are calculated using an aggregate of 194,348,706 Class A ordinary shares of Yuanbao Inc. outstanding as of October 20, 2025. This total outstanding figure is based on information provided by the issuer to the reporting persons.

Are the reporting persons in the Yuanbao Inc. (YB) 13G/A filing acting jointly?

The filing lists Lunar Link Limited, Rocket Wise Limited and HIKE Capital III L.P. as reporting persons and includes a joint filing agreement as an exhibit. This confirms they submitted a combined beneficial ownership report while still detailing each entity’s separate holdings and percentages.