Yuanbao Inc. principal holders filed an Amendment No. 2 to a Schedule 13G/A reporting beneficial ownership stakes in the Company. The filing lists Lunar Link Ltd with 20,766,793 shares (10.7%), Rocket Wise Ltd with 13,429,855 shares (6.9%), and HIKE Capital III L.P. with 5,409,944 shares (2.8%), each measured against 194,348,706 Class A Ordinary Shares outstanding as of December 31, 2025.
The filing includes a Joint Filing Agreement dated May 12, 2026 and provides voting and dispositive power figures for each reporting person; ownership percentages are calculated from the reported outstanding share figure in the issuer's 20-F filed April 30, 2026.
Positive
None.
Negative
None.
Insights
Three related holders report measurable stakes, clarifying ownership structure.
Lunar Link Ltd, Rocket Wise Ltd, and HIKE Capital III L.P. are listed with sole voting and dispositive power over their reported shares, which the filing ties to an outstanding base of December 31, 2025. The filing formalizes combined disclosures via a Joint Filing Agreement dated May 12, 2026.
These positions are governance-relevant: each holder's percentage is explicit (10.7%, 6.9%, 2.8%) and derived from the stated share count. Subsequent filings may disclose changes in holdings; timing and cash-flow treatment are not included in the excerpt.
Key Figures
Lunar Link holdings:20,766,793 sharesRocket Wise holdings:13,429,855 sharesHIKE Capital III holdings:5,409,944 shares+2 more
5 metrics
Lunar Link holdings20,766,793 shares10.7% of Class A as of 12/31/2025
Rocket Wise holdings13,429,855 shares6.9% of Class A as of 12/31/2025
HIKE Capital III holdings5,409,944 shares2.8% of Class A as of 12/31/2025
Shares outstanding used194,348,706 sharesClass A Ordinary Shares outstanding as of 12/31/2025
Joint Filing Agreement dateMay 12, 2026Exhibit 99.1 to the amendment
"Amendment No. 2 to a Schedule 13G/A reporting beneficial ownership"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
Beneficially ownedfinancial
"Amount beneficially owned: The information set forth in Row (9) of the cover page"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Joint Filing Agreementregulatory
"Exhibit 99.1 - Joint Filing Agreement dated May 12, 2026"
What ownership stakes does Yuanbao Inc. (YB) disclose in this Schedule 13G/A amendment?
The filing lists Lunar Link Ltd with 20,766,793 shares (10.7%), Rocket Wise Ltd with 13,429,855 shares (6.9%), and HIKE Capital III L.P. with 5,409,944 shares (2.8%), measured against 194,348,706 shares outstanding as of December 31, 2025.
What date and document establish the outstanding share base used for the percentages?
Percentages are calculated using an outstanding share figure of 194,348,706 Class A Ordinary Shares as of December 31, 2025, as reported in the issuer's 20-F filed April 30, 2026, cited in the Schedule 13G/A amendment.
Do the reporting persons claim voting or dispositive power over the reported shares?
Yes; the filing shows each reporting person with sole voting power and sole dispositive power for their respective reported share amounts, with shared powers listed as 0.00 in the cover-page rows incorporated by reference.
Is there an agreement among the reporting persons disclosed in the filing?
The filing includes a Joint Filing Agreement dated May 12, 2026 among the reporting persons, filed as Exhibit 99.1 to the amendment; the agreement governs joint reporting but does not itself describe trading terms or cash flows.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
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)
03/31/2026
(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)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
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 December 31, 2025, as reported on the 20-F filed by the Issuer with the Securities and Exchange Commission on April 30, 2026.
SCHEDULE 13G
CUSIP Number(s):
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
20,766,793.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
20,766,793.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
20,766,793.00
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)
10.7 %
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 December 31, 2025, as reported on the 20-F filed by the Issuer with the Securities and Exchange Commission on April 30, 2026.
SCHEDULE 13G
CUSIP Number(s):
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
13,429,855.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
13,429,855.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,429,855.00
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)
6.9 %
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 December 31, 2025, as reported on the 20-F filed by the Issuer with the Securities and Exchange Commission on April 30, 2026.
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:
The information set forth in Row (9) of the cover page for each of the Reporting Person is incorporated herein by reference.
(b)
Percent of class:
The information set forth in Row (11) of the cover page for each of the Reporting Person is incorporated herein by reference.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information set forth in Row (5) of the cover page for each of the Reporting Person is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information set forth in Row (6) of the cover page for each of the Reporting Person is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information set forth in Row (7) of the cover page for each of the Reporting Person is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information set forth in Row (8) of the cover page for each of the Reporting Person is incorporated herein by reference.
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:
05/12/2026
Lunar Link Ltd
Signature:
/s/ Shi XU
Name/Title:
Authorized Signatory
Date:
05/12/2026
Rocket Wise Ltd
Signature:
/s/ Shi XU
Name/Title:
Authorized Signatory
Date:
05/12/2026
Exhibit Information
Exhibit 99.1 - Joint Filing Agreement dated May 12, 2026, by and among the Reporting Persons
