Qiming funds report 10% stake in Yuanbao Inc.

Yuanbao Inc. (YB) received an amended Schedule 13G showing updated ownership positions from Qiming-affiliated investment entities in its Class A ordinary shares.

Rhea-AI Filing Summary

Yuanbao Inc. (YB) received an amended Schedule 13G showing updated ownership positions from Qiming-affiliated investment entities in its Class A ordinary shares.

Qiming Venture Partners VII, L.P. reports beneficial ownership of 19,250,849 Class A ordinary shares, representing 9.9% of the class, based on 194,348,706 shares outstanding as of December 31, 2025. Qiming VII Strategic Investors Fund, L.P. reports 177,411 shares, or 0.1% of the class.

Qiming GP VII, LLC, as general partner of both funds, reports beneficial ownership of 19,428,260 Class A ordinary shares, or 10.0% of the outstanding Class A shares. These holdings include Class A ordinary shares and American depositary shares, with each ADS representing six Class A ordinary shares.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What ownership in Yuanbao Inc. (YB) does Qiming Venture Partners VII, L.P. report?

Qiming Venture Partners VII, L.P. reports beneficial ownership of 19,250,849 Yuanbao Inc. Class A ordinary shares, representing 9.9% of the class. This percentage is based on 194,348,706 Class A shares outstanding as of December 31, 2025.

How many Yuanbao Inc. (YB) shares does Qiming VII Strategic Investors Fund, L.P. hold?

Qiming VII Strategic Investors Fund, L.P. reports beneficial ownership of 177,411 Class A ordinary shares of Yuanbao Inc., equal to 0.1% of the outstanding class. The percentage uses 194,348,706 Class A shares outstanding as of December 31, 2025.

What is the total Yuanbao Inc. (YB) stake reported by Qiming GP VII, LLC?

Qiming GP VII, LLC reports beneficial ownership of 19,428,260 Yuanbao Inc. Class A ordinary shares, representing 10.0% of the Class A shares outstanding. This reflects its role as general partner of the two Qiming funds holding these securities.

How are American depositary shares (ADSs) for Yuanbao Inc. (YB) treated in this filing?

The filing explains that each Yuanbao Inc. ADS represents six Class A ordinary shares. Qiming funds’ positions include both Class A shares and ADSs, and the reported beneficial ownership totals convert ADSs into underlying Class A ordinary shares using this ratio.

What share count did Yuanbao Inc. (YB) use to calculate ownership percentages?

Ownership percentages are calculated using 194,348,706 Yuanbao Inc. Class A ordinary shares issued and outstanding as of December 31, 2025. This outstanding share figure is based on information provided by the issuer and underpins all reported percentage calculations.

Which entities jointly filed the amended Schedule 13G for Yuanbao Inc. (YB)?

The amended Schedule 13G is filed on behalf of Qiming GP VII, LLC, Qiming Venture Partners VII, L.P., and Qiming VII Strategic Investors Fund, L.P.. All three entities are organized in the Cayman Islands and report beneficial ownership in Yuanbao’s Class A ordinary shares.

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Accepted by SEC EDGAR 02/13/2026 - 07:44 PM Learn about SEC filing dates

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 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

Qiming Venture Partners VII, 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 19,250,849.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 19,250,849.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,250,849.00

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)

9.9 %

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 that were issued and outstanding as of December 31, 2025, which is based on the information provided by the Issuer.

SCHEDULE 13G

CUSIP No. 987910106

1

Names of Reporting Persons

Qiming VII Strategic Investors Fund, 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 177,411.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 177,411.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

177,411.00

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)

0.1 %

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 that were issued and outstanding as of December 31, 2025, which is based on the information provided by the Issuer.

SCHEDULE 13G

CUSIP No. 987910106

1

Names of Reporting Persons

Qiming GP VII, LLC

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 19,428,260.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 19,428,260.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,428,260.00

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)

10.0 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Note to Row (5) (7) and (9): As of the date of this Schedule 13G filing, Qiming GP VII, LLC is the general partner of Qiming Venture Partners VII, L.P., which hold 14,029,175 Class A ordinary shares and 870,279 American depository shares ("ADSs"), and Qiming VII Strategic Investors Fund, L.P., which hold 129,279 Class A ordinary shares and 8,022 ADSs. Each ADS represent six Class A ordinary shares. Note to Row (11): The percentage is calculated based upon an aggregate of 194,348,706 Class A ordinary shares that were issued and outstanding as of December 31, 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, F4, 100101.
Item 2.
(a)	Name of person filing: Qiming GP VII, LLC, Qiming Venture Partners VII, L.P., Qiming VII Strategic Investors Fund, L.P.
(b)	Address or principal business office or, if none, residence: PO Box 309GT, Ugland House, South Church Street, George Town, Grand Cayman, KY1-1104, Cayman Islands
(c)	Citizenship: Cayman Islands
(d)	Title of class of securities: Class A ordinary shares, par value US$0.0001 per share
(e)	CUSIP No.: 987910106
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.

Qiming Venture Partners VII, L.P.

Signature:	/s/ Holan Lam
Name/Title:	Holan Lam/Authorized Signatory
Date:	02/13/2026

Qiming VII Strategic Investors Fund, L.P.

Signature:	/s/ Holan Lam
Name/Title:	Holan Lam/Authorized Signatory
Date:	02/13/2026

Qiming GP VII, LLC

Signature:	/s/ Holan Lam
Name/Title:	Holan Lam/Authorized Signatory
Date:	02/13/2026

Exhibit Information

Exhibit 99.1 Joint Filing Agreement, dated as of August 12, 2025 (incorporated by reference to Exhibit A to the Reporting Persons' Schedule 13G filed with the SEC on Augusts 12, 2025). https://www.sec.gov/Archives/edgar/data/1807384/000095010325010168/dp232908_sc13g-exa.htm