SCHEDULE: Northern Light Funds Disclose 15.2% Stake in Yuanbao Inc.

Northern Light Venture Capital entities and their directors have reported a combined beneficial ownership of 15.2% in Yuanbao Inc.'s Class A ordinary shares.

Summary

• Northern Light Venture Fund V, L.P. beneficially owns 26,995,478 Class A ordinary shares of Yuanbao Inc., representing 13.9% of the class.
• Northern Light Strategic Fund V, L.P. beneficially owns 2,111,460 Class A ordinary shares, representing 1.1% of the class.
• Northern Light Partners Fund V, L.P. beneficially owns 341,603 Class A ordinary shares, representing 0.2% of the class.
• Northern Light Partners V, L.P. (DGP), as the general partner of the three aforementioned funds, beneficially owns an aggregate of 29,448,541 shares, or 15.2% of the class.
• Northern Light Venture Capital V, Ltd. (UGP), as the general partner of the DGP, also beneficially owns 29,448,541 shares, or 15.2% of the class.
• Feng Deng, Yan Ke, and Jeffrey D. Lee, as directors of the UGP, are deemed to have shared voting and dispositive power over the 29,448,541 shares, representing 15.2% of the class.
• The percentage ownership is calculated based on 194,348,706 Class A ordinary shares outstanding of Yuanbao Inc. as of October 20, 2025.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate a positive or negative sentiment regarding the company's operational performance or future prospects.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• The filing details the interconnected beneficial ownership structure where Northern Light Partners V, L.P. (DGP) is the general partner for Northern Light Venture Fund V, L.P., Northern Light Strategic Fund V, L.P., and Northern Light Partners Fund V, L.P. Northern Light Venture Capital V, Ltd. (UGP) is the general partner of the DGP. Feng Deng, Yan Ke, and Jeffrey D. Lee are directors of the UGP, establishing a chain of control and shared power over the reported shares.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake, which can influence market perception and potentially signal confidence in the company's long-term value.

Key Dates

Keywords

Yuanbao Inc., Class A ordinary shares, beneficial ownership, Schedule 13G, Northern Light Venture Fund, institutional investor, equity stake