Beijing 1898 Reports 6.8% of Zhibao Class A Shares

Rhea-AI Filing Summary

Zhibao Technology Inc. Schedule 13G shows that Beijing 1898 Youchuang Investment Center (Limited Partnership) and director Hong Li report beneficial ownership of 1,109,430 Class A ordinary shares, representing 6.8% of the issued and outstanding Class A shares. The filing states the figure is based on 16,298,174 Class A shares outstanding and excludes 16,816,692 Class B shares as of October 9, 2025. The reporting partnership is the record holder; Ms. Li is identified as its director and disclaims beneficial ownership beyond any pecuniary interest. Voting and dispositive power for these shares are reported as sole, with no shared power.

Positive

• Clear disclosure of beneficial ownership of 1,109,430 Class A shares
• Voting and dispositive power are explicitly stated as sole, reducing ambiguity about control
• Dual-class share counts are provided, giving context for the reported percentage

Negative

• Potential governance concentration as a single holder controls a >5% stake
• Percentage excludes Class B shares, which may understate broader control dynamics across classes

Insights

Corporate Governance Analyst

A >5% holder with sole voting control is disclosed, which can influence governance.

The filing discloses a 6.8% stake held by a limited partnership with sole voting and dispositive power over 1,109,430 Class A shares. That ownership level exceeds common 5% disclosure thresholds and may affect shareholder votes or board-related outcomes depending on vote concentrations across classes.

The position hinges on the reported share counts as of October 9, 2025. Watch for any future amendments or related Schedule 13D filings that would indicate changes in intent or plans within the next reporting cycle.

Investor Relations Specialist

Disclosure clarifies voting power and class distinctions relevant to investor dilution and control.

The statement explains the Class A share base of 16,298,174 and separately notes 16,816,692 Class B shares excluded from the percentage calculation, highlighting dual-class structure effects on economic versus voting influence. The reporter claims sole voting and dispositive power over the reported Class A position.

Investors should note the dual-class split when assessing control dynamics and the effective influence of this 6.8% stake over upcoming corporate actions within typical quarterly reporting horizons.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Zhibao Technology Inc.

(Name of Issuer)

CLASS A ORDINARY SHARES, PAR VALUE $0.0001

(Title of Class of Securities)

G989MC106

(CUSIP Number)

12/31/2024

(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. G989MC106

1

Names of Reporting Persons

Beijing 1898 Youchuang Investment Center (Limited Partnership)

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

CHINA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,109,430.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,109,430.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,109,430.00

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)

6.8 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. G989MC106

1

Names of Reporting Persons

Hong Li

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

CHINA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,109,430.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,109,430.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,109,430.00

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)

6.8 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: (1) Based on 16,298,174 Class A ordinary shares issued and outstanding and excludes 16,816,692 Class B ordinary shares issued and outstanding as of October 9, 2025. (2) Beijing 1898 Youchuang Investment Center (Limited Partnership) ("Beijing 1898") is the record holder of the shares reported herein. Ms. Hong Li is the director of Beijing 1898. As such, she may be deemed to have or share voting and dispositive power of the Class A ordinary shares held directly by Beijing 1898. Ms. Li disclaims any beneficial ownership of the reported ordinary shares other than to the extent of any pecuniary interest she may have therein, directly or indirectly.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Zhibao Technology Inc.
(b)	Address of issuer's principal executive offices: Floor 3, Building 6, Wuxing Road, Lane 727, Pudong New Area, Shanghai, China 201204
Item 2.
(a)	Name of person filing: Beijing 1898 Youchuang Investment Center (Limited Partnership)
(b)	Address or principal business office or, if none, residence: No. 105, Yaojiyuan Road, Chaoyang District, Beijing, China
(c)	Citizenship: Beijing 1898 Youchuang Investment Center (Limited Partnership) is a limited partnership incorporated under the laws of the People's Republic of China. Ms. Hong Li is a citizen of the People's Republic of China.
(d)	Title of class of securities: CLASS A ORDINARY SHARES, PAR VALUE $0.0001
(e)	CUSIP No.: G989MC106
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: 1,109,430
(b)	Percent of class: The responses to Items 5-11 of the cover pages of this Schedule 13G are incorporated herein by reference. As of October 9, 2025, the Reporting Persons may be deemed to beneficially own 1,109,430 shares of the Issuer's Class A ordinary shares, representing 6.8% of the total Class A ordinary shares issued and outstanding. The percentage of Class A ordinary shares held by the Reporting Persons is based on 16,298,174 Class A ordinary shares issued and outstanding and excludes 16,816,692 Class B ordinary shares issued and outstanding as of October 9, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,109,430
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,109,430
	(iv) Shared power to dispose or to direct the disposition of: 0
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.

Beijing 1898 Youchuang Investment Center (Limited Partnership)

Signature:	/s/ Hong Li
Name/Title:	Hong Li, Director
Date:	10/10/2025

Hong Li

Signature:	/s/ Hong Li
Name/Title:	Hong Li / N.A.
Date:	10/10/2025

Exhibit Information

99.1 Joint Filing Agreement (filed herewith).

FAQ

Who filed the Schedule 13G for Zhibao Technology Inc. (ZBAO)?

The filing was made by Beijing 1898 Youchuang Investment Center (Limited Partnership), with Hong Li identified as director.

How many Class A shares does the reporting person beneficially own for ZBAO?

The reporting persons beneficially own 1,109,430 Class A ordinary shares.

What percentage of Zhibao's Class A shares does the reported stake represent?

The shares represent 6.8% of the issued and outstanding Class A shares based on 16,298,174 Class A shares outstanding as of October 9, 2025.

Does Hong Li claim beneficial ownership beyond the partnership's holdings?

Ms. Hong Li disclaims any beneficial ownership other than any pecuniary interest she may have and the director relationship to the partnership.

Are Class B shares included in the percentage calculation?

No. The filing explicitly excludes 16,816,692 Class B ordinary shares from the Class A percentage calculation.