Three Cayman Islands-based Qiming entities filed Amendment No. 4 to a beneficial ownership statement with the SEC on November 3, 2026, disclosing their combined holdings in Yuanbao Inc. (NASDAQ:YB) Class A ordinary shares as of September 30, 2026.

Key Highlights

  • Three reporting persons: Qiming GP VII, LLC; Qiming Venture Partners VII, L.P.; and Qiming VII Strategic Investors Fund, L.P. each filed separate ownership disclosures.
  • Largest stake: Qiming GP VII, LLC reported beneficial ownership of 11,052,158 Class A ordinary shares, representing 5.7% of the class.
  • Fund-level holdings: Qiming Venture Partners VII, L.P. reported 10,951,232 shares (5.6%), while Qiming VII Strategic Investors Fund, L.P. reported 100,926 shares (0.1%).
  • Share base used: All percentages are calculated against 194,348,706 Class A ordinary shares issued and outstanding as of September 30, 2026, as provided by the issuer.
  • ADS component: According to the filing, Qiming Venture Partners VII, L.P. holds 6,811,778 Class A ordinary shares and 689,909 ADSs; Qiming VII Strategic Investors Fund, L.P. holds 62,772 Class A ordinary shares and 6,359 ADSs, with each ADS representing six Class A ordinary shares.
  • Sole voting and dispositive power: All reported shares for each entity carry sole voting and sole dispositive power, with zero shared voting or dispositive power reported.

Qiming Entities Detail Their Stake in Yuanbao Inc.

Yuanbao Inc., whose principal executive offices are located at Building 2, No.8 Beichen West Road, Chaoyang District, Beijing, issues Class A ordinary shares with a par value of US$0.0001 per share under the CUSIP number 987910106. The three Qiming reporting persons, all organized under the laws of the Cayman Islands with a registered address at Ugland House, Grand Cayman, submitted this amendment to update their beneficial ownership positions triggered by an event dated September 30, 2026.

According to the filing, Qiming GP VII, LLC serves as the general partner of both Qiming Venture Partners VII, L.P. and Qiming VII Strategic Investors Fund, L.P. This general-partner relationship accounts for why Qiming GP VII, LLC reports a combined total of 11,052,158 shares, encompassing the holdings of both limited partnerships beneath it. The filing notes that each American depositary share represents six underlying Class A ordinary shares, which is factored into the total share counts reported for each entity.

All three reporting persons signed the amendment on November 3, 2026, with Holan Lam signing as authorized signatory on behalf of each entity. The joint filing arrangement among the three reporting persons was established under a Joint Filing Agreement dated August 12, 2025, which was originally filed as an exhibit to the reporting persons' prior Schedule 13G submission on that date and is incorporated by reference in this amendment.

What Was Disclosed

Three affiliated Qiming entities disclosed beneficial ownership positions in Yuanbao Inc. Class A ordinary shares as of September 30, 2026, with Qiming GP VII, LLC reporting the largest aggregate stake at 11,052,158 shares, or 5.7% of the outstanding class.