Zhibao Tech Stock Price, News & Analysis

Zhibao Technology (NASDAQ: ZBAO) announced a strategic partnership with PICC Property and Casualty Company and Munich Re Beijing to launch new medical insurance products in China. The collaboration aims to develop private medical insurance products providing access to premium medical resources unavailable under public insurance, targeting China's growing middle class.

Under the partnership, Zhibao will handle customer service, policy management, and claims processing, while offering access to its medical network for direct billing. PICC will issue and distribute policies through its 3,000 branch offices, and Munich Re will provide reinsurance capacity and technical expertise.

The company expects the first product to launch in the coming months, generating millions of RMB in premiums in its first year with projected double-digit year-on-year revenue growth over the next three years.

Zhibao Technology Inc (NASDAQ: ZBAO) announced its financial results for fiscal year ended June 30, 2024. The company reported significant growth with revenues increasing 29% to RMB 183.7 million (US$25.3 million). Notable achievements include:

- Net income of RMB 13.3 million, compared to a net loss of RMB 43.1 million in 2023
- Growth in B channels from 1,550 to nearly 1,800
- Reached over 15 million end customer users
- Successful IPO raising $6 million through 1.5 million Class A ordinary shares at $4.00 per share

The company increased investments in R&D (56%) and selling expenses (40%), while expanding its digital insurance brokerage platform into new business areas. Management expects continued strong growth through organic expansion and strategic investments.

Zhibao Technology (NASDAQ: ZBAO) reported financial results for fiscal year ended June 30, 2024. Revenue increased 29% to RMB 183.7M (US$25.3M), with gross profit up 28% to RMB 74.8M (US$10.3M). The company achieved income from operations of RMB 10.1M ($1.4M), compared to a loss of RMB 44.5M in 2023. Insurance brokerage revenue grew 45% to RMB 174.1M, while MGU service fees decreased 55% to RMB 10.2M. The company expanded B channels from 1,550 to 1,800 and served over 15M end customers. Investments in R&D and sales increased by 56% and 40% respectively.

Zhibao Technology Inc. (NASDAQ: ZBAO) successfully hosted the first Insurance Brokerage High Quality Development Summit in Suzhou, China on September 24th, 2024. The event brought together over 150 guests from the insurance industry, including companies, brokers, agents, and Insurtech innovators. Key speakers included Mr. Wen Hui Chen, former deputy chairman of the CBIRC, who emphasized innovation and digitalization in the industry.

Mr. Chao Li from China Pacific Insurance Company discussed potential collaborations between insurers and brokers. Zhibao Technology's founder, Mr. Botao Ma, highlighted the role of insurance brokerage companies and digital innovation. The summit aimed to promote the development of China's insurance brokerage industry, with Zhibao positioning itself as a potential leader in this growing sector.

Zhibao Technology Inc. (NASDAQ: ZBAO), a leading InsurTech company in China, has announced a convertible note financing agreement with an institutional investor. The deal includes:

• Sale of senior secured 10% original issue discount convertible promissory notes
• Principal amount of up to $8 million
• 40% warrant coverage
• To be drawn in tranches
• Gross proceeds of up to $7.2 million

Additionally, Zhibao issued $750,000 of pre-funded warrants, exercisable upon events of default as outlined in the Notes. The company plans to use the net proceeds for working capital purposes. EF Hutton acted as the exclusive placement agent for this offering.

Zhibao Technology Inc. (NASDAQ: ZBAO) announced that its subsidiary, Sunshine Insurance Brokers, has secured a contract to provide the 'Hui Jia Bao' inclusive homeowners' insurance product in Nanjing, China. Marketed as 'Ning Jia Bao', this implementation is insured by six leading insurers, led by PICC's Nanjing branch. Hui Jia Bao, starting at CNY 99 per year, aims to fill a critical coverage gap in China's insurance market. The company projects this solution to generate up to CNY 230 million in premium and CNY 46 million in revenue over the next three years. Zhibao is in discussions to launch Hui Jia Bao and Hui Min Bao products in additional Chinese cities, furthering its mission to provide affordable and inclusive insurance products.

Zhibao Technology Inc. (NASDAQ: ZBAO) has won a tender to provide high-end medical third party administration (TPA) services to the People's Insurance Company of China (PICC Group). Zhibao is one of four exclusive vendors selected to offer TPA services to all PICC Group subsidiaries, including PICC Property & Casualty, PICC Health, and PICC Life. The contract is valued at CNY 28 million over a 3-year period from 2024 to 2027.

This partnership grants Zhibao access to PICC's extensive network of over 3,000 branch offices, including 36 provincial-level branches nationwide. The collaboration is expected to benefit Zhibao's Managing General Underwriting (MGU) business division and enhance its main Business-to-Consumer (2B2C) embedded digital insurance brokerage business. PICC Group is ranked as the ninth-largest insurance group globally by premiums written in 2021.

Zhibao Technology Inc. (NASDAQ: ZBAO), a leading InsurTech company in China, has announced its participation in the upcoming Skyline Signature Series™ on August 15, 2024. The event will feature a live, interactive online presentation by CEO and Chairman Botao Ma and Investor Relations Manager Daniel Tao.

Investors, advisors, and analysts are invited to attend this real-time session, where they can engage directly with the company representatives and ask questions. The presentation is scheduled for 12:00 PM ET on Thursday, August 15, 2024. Interested participants must pre-register for the event through the provided registration link.

Zhibao Technology Inc. (NASDAQ: ZBAO) has announced a strategic investment cooperation with Sport Covers to create a new business model combining digital sports and insurance brokerage. This partnership leverages Zhibao's expertise in insurance and technology with Sport Covers' position in the sports market. Key points:

1. Sport Covers becomes the first sports insurance technology platform under a listed insurance brokerage in China.
2. Zhibao gains access to sports-related B-channels, including facilities, marathons, and events.
3. Revenue projections: CNY 20M in 2024, CNY 50M in 2025, and CNY 80M in 2026.
4. Global Sports Insurance market expected to reach $4.8 million by 2028 (CAGR 6.0%).
5. Zhibao aims for 10% market share by 2024, 15% by 2025, and over 20% by 2026.