[SCHEDULE 13G] Yuanbao Inc. American SEC Filing

Rhea-AI Filing Summary

Yuanbao Inc. disclosed three separate Schedule 13G holdings: HIKE Capital III L.P. holds 5,606,042 Class A ordinary shares (reported as 3.0% of the class), Lunar Link Limited holds 22,499,851 shares (11.9%), and Rocket Wise Limited holds 17,196,535 shares (9.1%). The percentages are calculated using an issuer-provided total of 188,348,706 Class A ordinary shares outstanding as of June 30, 2025. Each reporting person states sole voting and dispositive power for the shares they report. The filing notes a Joint Filing Agreement among the reporting persons.

Positive

• Lunar Link Limited disclosed a material passive position of 22,499,851 shares (11.9%)
• Rocket Wise Limited disclosed a material passive position of 17,196,535 shares (9.1%)
• All reporting persons state sole voting and dispositive power for the shares they report, providing clarity on control

Negative

• None.

Insights

Financial Analyst

TL;DR: Two reporting entities exceed 5% ownership, indicating notable passive stakes without disclosed group control.

Lunar Link Limited (11.9%) and Rocket Wise Limited (9.1%) each hold material passive positions in Yuanbao Inc.'s Class A ordinary shares, while HIKE Capital III L.P. holds a smaller 3.0% stake. All three report sole voting and dispositive power over their respective holdings. The statement is a routine disclosure under Schedule 13G and does not indicate coordinated group ownership or changes to corporate governance. For investors, these are identifiable, passive ownership positions but the filing does not report plans to influence management or transact further.

Corporate Governance Expert

TL;DR: Ownership is disclosed cleanly; no group designation or shared control is reported, so no immediate governance shifts shown.

The filing identifies each reporting person as holding sole voting and dispositive power over their shares and explicitly marks group-related items as not applicable. The inclusion of a Joint Filing Agreement documents the joint administrative filing but does not by itself imply coordinated control. Absent additional disclosures (e.g., intent to influence board composition or corporate actions), these holdings appear to be passive positions that do not trigger governance change notifications in this statement.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

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)

06/30/2025

(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 5,606,042.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,606,042.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,606,042.00

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)

3.0 %

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 188,348,706 Class A Ordinary Shares outstanding as of June 30, 2025, which is based on the information provided by the Issuer.

SCHEDULE 13G

CUSIP No. 987910106

1

Names of Reporting Persons

Lunar Link Limited

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 22,499,851.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 22,499,851.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

22,499,851.00

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)

11.9 %

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 188,348,706 Class A Ordinary Shares outstanding as of June 30, 2025, which is based on the information provided by the Issuer.

SCHEDULE 13G

CUSIP No. 987910106

1

Names of Reporting Persons

Rocket Wise Limited

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 17,196,535.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 17,196,535.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

17,196,535.00

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)

9.1 %

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 188,348,706 Class A Ordinary Shares outstanding as of June 30, 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: HIKE Capital III L.P. Lunar Link Limited Rocket Wise Limited
(b)	Address or principal business office or, if none, residence: The address of HIKE Capital III L.P. is Sertus Chambers, P.O. Box 2547, Cassia Court, Camana Bay, Grand Cayman, Cayman Islands. 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.
(c)	Citizenship: HIKE Capital III L.P. - Cayman Islands Lunar Link Limited - British Virgin Island Rocket Wise Limited - British Virgin Island
(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: HIKE Capital III L.P.: 5,606,042 Class A ordinary shares Lunar Link Limited: 22,499,851 Class A ordinary shares Rocket Wise Limited: 17,196,535 Class A ordinary shares
(b)	Percent of class: HIKE Capital III L.P.: 3.0% Lunar Link Limited: 11.9% Rocket Wise Limited: 9.1% Note: The percentage is calculated based upon an aggregate of 188,348,706 Class A Ordinary Shares outstanding as of June 30, 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: HIKE Capital III L.P. - 5,606,042 Lunar Link Limited - 22,499,851 Rocket Wise Limited - 17,196,535
	(ii) Shared power to vote or to direct the vote: N/A
	(iii) Sole power to dispose or to direct the disposition of: HIKE Capital III L.P. - 5,606,042 Lunar Link Limited - 22,499,851 Rocket Wise Limited - 17,196,535
	(iv) Shared power to dispose or to direct the disposition of: N/A
Item 5.	Ownership of 5 Percent or Less of a Class.
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:	Shi XU
Name/Title:	Authorized Signatory
Date:	09/03/2025

Lunar Link Limited

Signature:	Shi XU
Name/Title:	Authorized Signatory
Date:	09/03/2025

Rocket Wise Limited

Signature:	Shi XU
Name/Title:	Authorized Signatory
Date:	09/03/2025

Exhibit Information

Exhibit 99.1 - Joint Filing Agreement dated September 3, 2025, by and among the Reporting Persons

FAQ

What stake does Lunar Link Limited hold in Yuanbao Inc. (YB)?

Lunar Link Limited reports beneficial ownership of 22,499,851 Class A ordinary shares, representing 11.9% of the class based on 188,348,706 shares outstanding.

How many shares does Rocket Wise Limited report owning in YB?

Rocket Wise Limited reports beneficial ownership of 17,196,535 Class A ordinary shares, representing 9.1% of the class.

What percentage of YB does HIKE Capital III L.P. own?

HIKE Capital III L.P. reports ownership of 5,606,042 Class A ordinary shares, representing 3.0% of the class.

Do the reporting persons claim shared or group control over YB shares?

No. The filing indicates no shared voting or dispositive power and marks group-related items as not applicable, while attaching a Joint Filing Agreement for the administrative filing.

What outstanding share count does the filing use to calculate percentages?

The filing uses an issuer-provided total of 188,348,706 Class A ordinary shares outstanding to calculate the reported percentages.