Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Checkbox not checked   Rule 13d-1(b)
Checkbox not checked   Rule 13d-1(c)
Checkbox checked   Rule 13d-1(d)






SCHEDULE 13G




Comment for Type of Reporting Person:   This statement on Schedule 13G is filed by MPC HK III, MPC III, MPC III-A, MPC Management III, MPC III GP (each as defined in Item 2(a) below) and David Su ("Su," collectively, with MPC HK III, MPC III, MPC III-A, MPC Management III and MPC III GP, the "Reporting Persons"). The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G. Consists of 1 Class A ordinary share and 11,039,843 ADSs held indirectly by MPC III (through MPC HK III). MPC Management III and MPC III GP are the direct and indirect general partners, respectively, of MPC III and MPC III-A, and as such, may exercise voting and dispositive power over these shares. Su, a director of MPC III GP, may be deemed to share voting and dispositive power over these shares. This percentage is based on a total of 90,626,150 Class A ordinary shares outstanding as of June 30, 2025, as disclosed to the Reporting Persons by the Issuer.


SCHEDULE 13G




Comment for Type of Reporting Person:   The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G. Consists of 6 Class A ordinary shares and 1,226,640 ADSs held indirectly by MPC III-A (through MPC HK III). MPC Management III and MPC III GP are the direct and indirect general partners, respectively, of MPC III and MPC III-A, and as such, may exercise voting and dispositive power over these shares. Su, a director of MPC III GP, may be deemed to share voting and dispositive power over these shares. This percentage is based on a total of 90,626,150 Class A ordinary shares outstanding as of June 30, 2025, as disclosed to the Reporting Persons by the Issuer.


SCHEDULE 13G




Comment for Type of Reporting Person:   The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G. Consists of (i) 1 Class A ordinary share and 11,039,843 ADSs held indirectly by MPC III and (ii) 6 Class A ordinary shares and 1,226,640 ADSs held indirectly by MPC III-A (in each case through MPC HK III). MPC Management III and MPC III GP are the direct and indirect general partners, respectively, of MPC III and MPC III-A, and as such, may exercise voting and dispositive power over these shares. Su, a director of MPC III GP, may be deemed to share voting and dispositive power over these shares. This percentage is based on a total of 90,626,150 Class A ordinary shares outstanding as of June 30, 2025, as disclosed to the Reporting Persons by the Issuer.


SCHEDULE 13G




Comment for Type of Reporting Person:   The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G. Consists of (i) 1 Class A ordinary share and 11,039,843 ADSs held indirectly by MPC III and (ii) 6 Class A ordinary shares and 1,226,640 ADSs held indirectly by MPC III-A (in each case through MPC HK III). MPC Management III and MPC III GP are the direct and indirect general partners, respectively, of MPC III and MPC III-A, and as such, may exercise voting and dispositive power over these shares. Su, a director of MPC III GP, may be deemed to share voting and dispositive power over these shares. This percentage is based on a total of 90,626,150 Class A ordinary shares outstanding as of June 30, 2025, as disclosed to the Reporting Persons by the Issuer.


SCHEDULE 13G




Comment for Type of Reporting Person:   The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G. Consists of (i) 1 Class A ordinary share and 11,039,843 ADSs held indirectly by MPC III and (ii) 6 Class A ordinary shares and 1,226,640 ADSs held indirectly by MPC III-A (in each case through MPC HK III). MPC Management III and MPC III GP are the direct and indirect general partners, respectively, of MPC III and MPC III-A, and as such, may exercise voting and dispositive power over these shares. Su, a director of MPC III GP, may be deemed to share voting and dispositive power over these shares. This percentage is based on a total of 90,626,150 Class A ordinary shares outstanding as of June 30, 2025, as disclosed to the Reporting Persons by the Issuer.


SCHEDULE 13G




Comment for Type of Reporting Person:   The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G. Consists of (i) 1 Class A ordinary share and 11,039,843 ADSs held indirectly by MPC III and (ii) 6 Class A ordinary shares and 1,226,640 ADSs held indirectly by MPC III-A (in each case through MPC HK III). MPC Management III and MPC III GP are the direct and indirect general partners, respectively, of MPC III and MPC III-A, and as such, may exercise voting and dispositive power over these shares. Su, a director of MPC III GP, may be deemed to share voting and dispositive power over these shares. This percentage is based on a total of 90,626,150 Class A ordinary shares outstanding as of June 30, 2025, as disclosed to the Reporting Persons by the Issuer.


SCHEDULE 13G



 
MPC III L.P. (f/k/a Matrix Partners China III, L.P.)
 
Signature:/s/ David Su
Name/Title:David Su, Director of the general partner of the Reporting Person's general partner
Date:08/14/2025
 
MPC III-A L.P. (f/k/a Matrix Partners China III-A, L.P.)
 
Signature:/s/ David Su
Name/Title:David Su, Director of the general partner of the Reporting Person's general partner
Date:08/14/2025
 
MPC Management III L.P. (f/k/a Matrix China Management III, L.P.)
 
Signature:/s/ David Su
Name/Title:David Su, Director of the Reporting Person's general partner
Date:08/14/2025
 
MPC GPGP III Ltd. (f/k/a Matrix China III GP GP Ltd.)
 
Signature:/s/ David Su
Name/Title:David Su, Director
Date:08/14/2025
 
MPC III HK Limited (f/k/a Matrix Partners China III Hong Kong Limited)
 
Signature:/s/ David Su
Name/Title:David Su, Director
Date:08/14/2025
 
David Su Tuong Sing
 
Signature:/s/ David Su
Name/Title:David Su
Date:08/14/2025