| Schedule of parent company balance sheet |
| | | | | | | As of December 31, | | As of December 31, | | | 2024 | | 2025 | | | RMB | | RMB | ASSETS | | | | | Current assets: | | | | | Cash and cash equivalents | | 274,478 | | 175,993 | Prepayments and other current assets, net | | 11,556 | | 451 | Amounts due from subsidiaries | | 18,101 | | 310,097 | Total current assets | | 304,135 | | 486,541 | Non-current assets: | | | | | Investment in subsidiaries and the VIE | | 1,571,061 | | 2,971,039 | Total non-current assets | | 1,571,061 | | 2,971,039 | TOTAL ASSETS | | 1,875,196 | | 3,457,580 | LIABILITIES | | | | | Current liabilities: | | | | | Accrued expenses and other current liabilities | | 16,227 | | 5,780 | Amounts due to subsidiaries | | 71,884 | | 105,505 | Total current liabilities | | 88,111 | | 111,285 | TOTAL LIABILITIES | | 88,111 | | 111,285 | | | | | | MEZZANINE EQUITY: | | | | | Series Seed convertible redeemable preferred shares (US$0.0001 par value; 30,769,231 and nil shares authorized, issued and outstanding as of December 31, 2024 and 2025, respectively) | | 692,051 | | — | Series Angel convertible redeemable preferred shares (US$0.0001 par value; 21,978,022 and nil shares authorized, issued and outstanding as of December 31, 2024 and 2025, respectively) | | 495,921 | | — | Series B convertible redeemable preferred shares (US$0.0001 par value; 45,315,510 and nil shares authorized, issued and outstanding as of December 31, 2024 and 2025, respectively) | | 1,028,888 | | — | Series C-1 convertible redeemable preferred shares (US$0.0001 par value; 37,373,616 and nil shares authorized, issued and outstanding as of December 31, 2024 and 2025, respectively) | | 851,362 | | — | Series C-2 convertible redeemable preferred shares (US$0.0001 par value; 15,650,202 and nil shares authorized, issued and outstanding as of December 31, 2024 and 2025, respectively) | | 352,660 | | — | TOTAL MEZZANINE EQUITY: | | 3,420,882 | | — | | | | | | Ordinary shares (US$0.0001 par value, 348,913,419 shares authorized, 106,994,625 shares issued and outstanding as of December 31, 2024) | | 71 | | — | Class A ordinary shares (US$0.0001 par value, nil and 300,000,000 shares authorized, nil and 194,348,706 shares issued and outstanding as of December 31, 2024 and 2025, respectively) | | — | | 135 | Class B ordinary shares (US$0.0001 par value, nil and 100,000,000 shares authorized, nil and 82,132,500 shares issued and outstanding as of December 31, 2024 and 2025, respectively) | | — | | 55 | Additional paid in capital | | 198,664 | | 3,179,602 | Accumulated deficit | | (1,932,128) | | (72,851) | Statutory reserves | | 80,975 | | 230,033 | Accumulated other comprehensive income | | 18,621 | | 9,321 | Total shareholders’ (deficit)/equity | | (1,633,797) | | 3,346,295 | Total liabilities, mezzanine equity and shareholders’ (deficit)/equity | | 1,875,196 | | 3,457,580 |
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| Schedule of parent company comprehensive income |
| | | | | | | | | For the year ended December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | General and administrative expenses | | (16,875) | | (15,820) | | (13,096) | Total operating expenses | | (16,875) | | (15,820) | | (13,096) | | | | | | | | Other income: | | | | | | | Others, net | | 8,792 | | 9,868 | | 3,525 | Equity in income of subsidiaries, the VIE and subsidiaries of the VIE | | 213,269 | | 871,798 | | 1,317,111 | Net income | | 205,186 | | 865,846 | | 1,307,540 | Accretion to preferred shares redemption value | | (536,059) | | (429,931) | | 700,795 | Net (loss)/income attributable to Yuanbao Inc.’s ordinary shareholders | | (330,873) | | 435,915 | | 2,008,335 | | | | | | | | Net income | | 205,186 | | 865,846 | | 1,307,540 | Other comprehensive income/(loss): | | | | | | | Foreign currency translation adjustments | | 3,495 | | 3,326 | | (9,300) | Total comprehensive income | | 208,681 | | 869,172 | | 1,298,240 | Accretion to preferred shares redemption value | | (536,059) | | (429,931) | | 700,795 | Comprehensive (loss)/income attributable to Yuanbao Inc.’s ordinary shareholders | | (327,378) | | 439,241 | | 1,999,035 |
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| Schedule of parent company cash flows |
| | | | | | | | | For the year ended December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | Net cash (used in)/provided by operating activities | | (1,703) | | 926 | | (15,683) | Cash flows from investing activities: | | | | | | | Cash paid for investments in subsidiaries | | (73) | | — | | (9,287) | Loans to subsidiaries | | — | | — | | (261,457) | Purchase of time deposits | | (858,554) | | (1,039,231) | | — | Cash received from maturity of time deposits | | 861,102 | | 1,241,203 | | — | Net cash provided by/(used in) investing activities | | 2,475 | | 201,972 | | (270,744) | Cash flows from financing activities: | | | | | | | Cash paid for initial public offering costs | | — | | (9,113) | | (8,062) | Cash received from subsidiaries (i) | | — | | 70,074 | | — | Proceeds from exercise of options | | — | | — | | 26 | Proceeds from issuance of ordinary shares upon IPO, net of commissions | | — | | — | | 204,880 | Net cash provided by financing activities | | — | | 60,961 | | 196,844 | Effect of foreign exchange rate changes on cash and cash equivalents and restricted cash | | 3,512 | | 4,588 | | (8,902) | Net increase/(decrease) in cash and cash equivalents and restricted cash | | 4,284 | | 268,447 | | (98,485) | Cash and cash equivalents and restricted cash at beginning of the year | | 1,747 | | 6,031 | | 274,478 | Cash and cash equivalents and restricted cash at end of the year | | 6,031 | | 274,478 | | 175,993 |
(i) | In 2024, the cash received from subsidiaries is interest free and due within one year. |
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