# EDGAR Filing Document

**Accession Number:** 0001995520
**File Stem:** 0001104659-25-109384
**Filing Date:** 2025-11
**Character Count:** 30433
**Document Hash:** d78807d146c39794361b36c7c1661177
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-109384.hdr.sgml**: 20251110

**ACCESSION NUMBER**: 0001104659-25-109384

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251110

**DATE AS OF CHANGE**: 20251110

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Yuanbao Inc.
- **CENTRAL INDEX KEY:** 0001995520
- **STANDARD INDUSTRIAL CLASSIFICATION:** INSURANCE AGENTS BROKERS & SERVICES [6411]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95165
- **FILM NUMBER:** 251467815

**BUSINESS ADDRESS:**
- **STREET 1:** BUILDING 2, NO.8 BEICHEN WEST ROAD
- **STREET 2:** CHAOYANG DISTRICT
- **CITY:** BEIJING
- **STATE:** F4
- **ZIP:** 100101
- **BUSINESS PHONE:** 86-10-6484-9901

**MAIL ADDRESS:**
- **STREET 1:** BUILDING 2, NO.8 BEICHEN WEST ROAD
- **STREET 2:** CHAOYANG DISTRICT
- **CITY:** BEIJING
- **STATE:** F4
- **ZIP:** 100101
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Northern Light Venture Fund V, L.P.
- **CENTRAL INDEX KEY:** 0001711985

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**BUSINESS ADDRESS:**
- **STREET 1:** SUITE 1720, 17/F HUTCHISON HOUSE
- **STREET 2:** 10 HARCOURT ROAD, CENTRAL
- **CITY:** HONG KONG
- **STATE:** K3
- **ZIP:** 00000
- **BUSINESS PHONE:** 852.2281.6200

**MAIL ADDRESS:**
- **STREET 1:** SUITE 1720, 17/F HUTCHISON HOUSE
- **CITY:** HONG KONG
- **STATE:** K3
- **ZIP:** 00000

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** Yuanbao Inc.

**Title of Class of Securities:** Class A ordinary shares

**CUSIP Number:** 987910106

**Date of Event Which Requires Filing of this Statement:** 04/30/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Northern Light Venture Fund V, L.P. | Names of Reporting Persons<br>Northern Light Venture Fund V, L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>26995478.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>26995478.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>26995478.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>26995478.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>13.9% | Percent of Class Represented by Amount in Row (9)<br>13.9% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** Note to Row 5: 26,995,478 shares, except that Northern Light Partners V, L.P. ("DGP"), the general partner of Northern Light Venture Fund V, L.P. (NLVF V), and Northern Light Venture Capital V, Ltd. ("UGP"), the general partner of the DGP, may be deemed to have sole power to vote these shares, and Feng Deng ("Deng"), Yan Ke ("Ke") and Jeffrey D. Lee ("Lee"), the directors of the UGP, may be deemed to have shared power to vote these shares.

Note to Row 6: See response to row 5.

Note to Row 7: 26,995,478 shares, except that the DGP, the general partner of NLVF V, and the UGP, the general partner of the DGP, may be deemed to have sole power to dispose of these shares, and Deng, Ke and Lee, the directors of the UGP, may be deemed to have shared power to dispose of these shares.

Note to Row 8: See response to row 7.

Note to Row 11: This percentage is calculated based upon 194,348,706 shares of Class A ordinary outstanding of Yuanbao Inc. (the "Issuer") as of October 20, 2025, as provided by the Issuer.

---

| 1. | Names of Reporting Persons<br>Northern Light Strategic Fund V, L.P. | Names of Reporting Persons<br>Northern Light Strategic Fund V, L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>2111460.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>2111460.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2111460.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2111460.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>1.1% | Percent of Class Represented by Amount in Row (9)<br>1.1% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** Note to Row 5: 2,111,460 shares, except that the DGP, the general partner of Northern Light Strategic Fund V, L.P. ("NLSF V"), and the UGP, the general partner of the DGP, may be deemed to have sole power to vote these shares, and Deng, Ke and Lee, the directors of the UGP, may be deemed to have shared power to vote these shares.

Note to Row 6: See response to row 5.

Note to Row 7: 2,111,460 shares, except that the DGP, the general partner of NLSF V, and the UGP, the general partner of the DGP, may be deemed to have sole power to dispose of these shares, and Deng, Ke and Lee, the directors of the UGP, may be deemed to have shared power to dispose of these shares.

Note to Row 8: See response to row 7.

Note to Row 11: This percentage is calculated based upon 194,348,706 shares of Class A ordinary outstanding of Yuanbao Inc. (the "Issuer") as of October 20, 2025, as provided by the Issuer.

---

| 1. | Names of Reporting Persons<br>Northern Light Partners Fund V, L.P. | Names of Reporting Persons<br>Northern Light Partners Fund V, L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>341603.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>341603.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>341603.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>341603.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.2% | Percent of Class Represented by Amount in Row (9)<br>0.2% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** Note to Row 5: 341,603 shares, except that the DGP, the general partner of Northern Light Partners Fund V, L.P. ("NLPF V"), and the UGP, the general partner of the DGP, may be deemed to have sole power to vote these shares, and Deng, Ke and Lee, the directors of the UGP, may be deemed to have shared power to vote these shares.

Note to Row 6: See response to row 5.

Note to Row 7: 341,603 shares, except that the DGP, the general partner of NLPF V, and the UGP, the general partner of the DGP, may be deemed to have sole power to dispose of these shares, and Deng, Ke and Lee, the directors of the UGP, may be deemed to have shared power to dispose of these shares.

Note to Row 8: See response to row 7.

Note to Row 11: This percentage is calculated based upon 194,348,706 shares of Class A ordinary outstanding of Yuanbao Inc. (the "Issuer") as of October 20, 2025, as provided by the Issuer.

---

| 1. | Names of Reporting Persons<br>Northern Light Partners V, L.P. | Names of Reporting Persons<br>Northern Light Partners V, L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>29448541.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>29448541.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29448541.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29448541.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>15.2% | Percent of Class Represented by Amount in Row (9)<br>15.2% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** Note to Row 5: 29,448,541 shares, of which 26,995,478 shares are beneficially owned by NLVF V, 2,111,460 shares are beneficially owned by NLSF V, and 341,603 shares are beneficially owned by NLPF V.  The DGP, the general partner of NLVF V, NLSF V and NLPF V, may be deemed to have sole power to vote these shares, except that the UGP, the general partner of the DGP, may be deemed to have sole power to vote these shares, and Deng, Ke and Lee, the directors of the UGP, may be deemed to have shared power to vote these shares.

Note to Row 6: See response to row 5.

Note to Row 7: 29,448,541 shares, of which 26,995,478 shares are beneficially owned by NLVF V, 2,111,460 shares are beneficially owned by NLSF V, and 341,603 shares are beneficially owned by NLPF V.  The DGP, the general partner of each of NLVF V, NLSF V and NLPF V, may be deemed to have sole power to dispose of these shares, except that the UGP, the general partner of the DGP, may be deemed to have sole power to dispose of these shares, and Deng, Ke and Lee, the directors of the UGP, may be deemed to have shared power to dispose of these shares.

Note to Row 8: See response to row 7.

Note to Row 11: This percentage is calculated based upon 194,348,706 shares of Class A ordinary outstanding of Yuanbao Inc. (the "Issuer") as of October 20, 2025, as provided by the Issuer.

---

| 1. | Names of Reporting Persons<br>Northern Light Venture Capital V, Ltd. | Names of Reporting Persons<br>Northern Light Venture Capital V, Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>29448541.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>29448541.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29448541.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29448541.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>15.2% | Percent of Class Represented by Amount in Row (9)<br>15.2% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** Note to Row 5: 29,448,541 shares, of which 26,995,478 shares are beneficially owned by NLVF V, 2,111,460 shares are beneficially owned by NLSF V, and 341,603 shares are beneficially owned by NLPF V.  The UGP is the general partner of the DGP, the general partner of each of NLVF V, NLSF V and NLPF V, and may be deemed to have sole power to vote these shares, except the DGP, the general partner of each of NLVF V, NLSF V and NLPF V, may be deemed to have sole power to vote these shares, and Deng, Ke and Lee, the directors of the UGP, may be deemed to have shared power to vote these shares.

Note to Row 6: See response to row 5.

Note to Row 7: 29,448,541 shares, of which 26,995,478 shares are beneficially owned by NLVF V, 2,111,460 shares are beneficially owned by NLSF V, and 341,603 shares are beneficially owned by NLPF V.  The UGP is the general partner of the DGP, the general partner of each of NLVF V, NLSF V and NLPF V, and may be deemed to have sole power to dispose of such shares, except the DGP, the general partner of each of NLVF V, NLSF V and NLPF V, may be deemed to have sole power to dispose of these shares, and Deng, Ke and Lee, the directors of the UGP, may be deemed to have shared power to dispose of these shares.

Note to Row 8: See response to row 7.

Note to Row 11: This percentage is calculated based upon 194,348,706 shares of Class A ordinary outstanding of Yuanbao Inc. (the "Issuer") as of October 20, 2025, as provided by the Issuer.

---

| 1. | Names of Reporting Persons<br>Feng Deng | Names of Reporting Persons<br>Feng Deng |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>29448541.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>29448541.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29448541.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29448541.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>15.2% | Percent of Class Represented by Amount in Row (9)<br>15.2% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** Note to Row 5: 29,448,541 shares, of which 26,995,478 shares are beneficially owned by NLVF V, 2,111,460 shares are beneficially owned by NLSF V, and 341,603 shares are beneficially owned by NLPF V.  Deng is a director of the UGP, the general partner of the DGP, which is the general partner of each of NLVF V, NLSF V and NLPF V, and may be deemed to have shared power to vote these shares.

Note to Row 6: See response to row 5.

Note to Row 7: 29,448,541 shares, of which 26,995,478 shares are beneficially owned by NLVF V, 2,111,460 shares are beneficially owned by NLSF V, and 341,603 shares are beneficially owned by NLPF V.  Deng is a director of the UGP, the general partner of the DGP, which is the general partner of each of NLVF V, NLSF V and NLPF V, and may be deemed to have shared power to dispose of these shares.

Note to Row 8: See response to row 7.

Note to Row 11: This percentage is calculated based upon 194,348,706 shares of Class A ordinary outstanding of Yuanbao Inc. (the "Issuer") as of October 20, 2025, as provided by the Issuer.

---

| 1. | Names of Reporting Persons<br>Yan Ke | Names of Reporting Persons<br>Yan Ke |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>29448541.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>29448541.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29448541.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29448541.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>15.2% | Percent of Class Represented by Amount in Row (9)<br>15.2% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** Note to Row 5: 29,448,541 shares, of which 26,995,478 shares are beneficially owned by NLVF V, 2,111,460 shares are beneficially owned by NLSF V, and 341,603 shares are beneficially owned by NLPF V.  Ke is a director of the UGP, the general partner of the DGP, which is the general partner of each of NLVF V, NLSF V and NLPF V, and may be deemed to have shared power to vote these shares.

Note to Row 6: See response to row 5.

Note to Row 7: 29,448,541 shares, of which 26,995,478 shares are beneficially owned by NLVF V, 2,111,460 shares are beneficially owned by NLSF V, and 341,603 shares are beneficially owned by NLPF V.  Ke is a director of the UGP, the general partner of the DGP, which is the general partner of each of NLVF V, NLSF V and NLPF V, and may be deemed to have shared power to dispose of these shares.

Note to Row 8: See response to row 7.

Note to Row 11: This percentage is calculated based upon 194,348,706 shares of Class A ordinary outstanding of Yuanbao Inc. (the "Issuer") as of October 20, 2025, as provided by the Issuer.

---

| 1. | Names of Reporting Persons<br>Jeffrey D. Lee | Names of Reporting Persons<br>Jeffrey D. Lee |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>29448541.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>29448541.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29448541.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>29448541.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>15.2% | Percent of Class Represented by Amount in Row (9)<br>15.2% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** Note to Row 5: 29,448,541 shares, of which 26,995,478 shares are beneficially owned by NLVF V, 2,111,460 shares are beneficially owned by NLSF V, and 341,603 shares are beneficially owned by NLPF V.  Lee is a director of the UGP, the general partner of the DGP, which is the general partner of each of NLVF V, NLSF V and NLPF V, and may be deemed to have shared power to vote these shares.

Note to Row 6: See response to row 5.

Note to Row 7: 29,448,541 shares, of which 26,995,478 shares are beneficially owned by NLVF V, 2,111,460 shares are beneficially owned by NLSF V, and 341,603 shares are beneficially owned by NLPF V.  Lee is a director of the UGP, the general partner of the DGP, which is the general partner of each of NLVF V, NLSF V and NLPF V, and may be deemed to have shared power to dispose of these shares.

Note to Row 8: See response to row 7.

Note to Row 11: This percentage is calculated based upon 194,348,706 shares of Class A ordinary outstanding of Yuanbao Inc. (the "Issuer") as of October 20, 2025, as provided by the Issuer.

---

**Item 1(a). Name of Issuer:**
Yuanbao Inc.

**Item 1(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:**
This Schedule 13G is being filed by (i) Northern Light Venture Fund V, L.P., a Cayman Islands exempted limited partnership ("NLVF V"); (ii) Northern Light Strategic Fund V, L.P., a Cayman Islands exempted limited partnership ("NLSF V"); (iii) Northern Light Partners Fund V, L.P., a Cayman Islands exempted limited partnership ("NLPF V");  (iv) Northern Light Partners V, L.P., a Cayman Islands exempted limited partnership (the "DGP"); (v) Northern Light Venture Capital V, Ltd., a Cayman Islands exempted company (the "UGP"); (vi) Feng Deng ("Deng"), a citizen of the United States, (vii) Yan Ke ("Ke"), a citizen of the United States, and (viii) Jeffrey D. Lee ("Lee"), a citizen of the United States.  The foregoing entities and individuals are collectively referred to as the "Reporting Persons."

**Item 2(b). Address of Principal Business Office:**
c/o Northern Light Venture Capital
2744 Sand Hill Road, Suite 100
Menlo Park, CA 94025

**Item 2(c). Citizenship:**
NLVF V, NLSF V, NLPF V and the DGP are Cayman Islands exempted limited partnerships.  The UGP is a Cayman Islands exempted company.  Lee, Deng and Ke are United States citizens.

**Item 2(d). Title of Class of Securities:**
Class A ordinary shares

**Item 2(e). CUSIP Number:**
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:**

See Row 9 of cover page for each Reporting Person.

**(b) Percent of class:**

See Row 11 of cover page for each Reporting Person.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

See Row 5 of cover page for each Reporting Person.

**(ii) Shared power to vote or to direct the vote:**

See Row 6 of cover page for each Reporting Person.

**(iii) Sole power to dispose or to direct the disposition of:**

See Row 7 of cover page for each Reporting Person.

**(iv) Shared power to dispose or to direct the disposition of:**

See Row 8 of cover page for each Reporting Person.

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Under certain circumstances set forth in the limited partnership agreements of each of NLVF V, NLSF V, NLPF V and the DGP, and the memorandum and articles of association of the UGP, the general partner and limited partners or directors, as the case may be, of each of such entities may be deemed to have the right to receive dividends from, or the proceeds from, the sale of shares of the issuer owned by each such entity of which they are a general partner, limited partner or director.

**Item 7. Identification and Classification of the Subsidiary**

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. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### 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.

**Northern Light Venture Fund V, L.P.**

**Date:** 11/10/2025

**By:** /s/ Jeffrey D. Lee

**Name & Title:** Jeffrey D. Lee, Director of the General Partner of the General Partner

**Northern Light Strategic Fund V, L.P.**

**Date:** 11/10/2025

**By:** /s/ Jeffrey D. Lee

**Name & Title:** Jeffrey D. Lee, Director of the General Partner of the General Partner

**Northern Light Partners Fund V, L.P.**

**Date:** 11/10/2025

**By:** /s/ Jeffrey D. Lee

**Name & Title:** Jeffrey D. Lee, Director of the General Partner of the General Partner

**Northern Light Partners V, L.P.**

**Date:** 11/10/2025

**By:** /s/ Jeffrey D. Lee

**Name & Title:** Jeffrey D. Lee, Director of the General Partner

**Northern Light Venture Capital V, Ltd.**

**Date:** 11/10/2025

**By:** /s/ Jeffrey D. Lee

**Name & Title:** Jeffrey D. Lee, Director

**Feng Deng**

**Date:** 11/10/2025

**By:** /s/ Feng Deng

**Name & Title:** Feng Deng

**Yan Ke**

**Date:** 11/10/2025

**By:** /s/ Yan Ke

**Name & Title:** Yan Ke

**Jeffrey D. Lee**

**Date:** 11/10/2025

**By:** /s/ Jeffrey D. Lee

**Name & Title:** Jeffrey D. Lee