Zhibao Technology Inc. Enters into Non-Binding Letter of Intent to Acquire On-Chain Trading Platform MeVX
Zhibao plans a MeVX acquisition under a non-binding LOI, contingent on regulatory clearances and internal restructuring before any definitive deal.
Rhea-AI Summary
Zhibao Technology (ZBAO) signed a non-binding LOI to acquire on-chain trading platform MeVX on September 23, 2026.
MeVX is a non-custodial, multi-chain trading terminal focused on on-chain assets and meme-asset trading, supporting trading across major blockchains and connecting to third-party decentralized trading infrastructure. It offers a consumer-facing tool suite with advanced options for users. MeVX has approximately 2 million users, about $8 million in sticky deposits, and localized operations in Vietnam that serve as a base for broader Southeast Asia expansion. The LOI records a preliminary understanding between the parties and the proposed transaction remains subject to due diligence, audit and other customary procedures, compliance with applicable PRC and U.S. SEC legal and regulatory requirements, and completion of Zhibao’s De-Classification Restructuring related to CSRC Filing Measures. A definitive purchase agreement is currently expected to be executed within the next 12 months, subject to these conditions being satisfied.
Positive
- Target platform MeVX has about 2 million users
- MeVX reports approximately $8 million in sticky deposits
- MeVX provides localized operations in Vietnam as a base for Southeast Asia expansion
Negative
- LOI is non-binding and subject to due diligence and audits
- Closing requires compliance with PRC and U.S. SEC regulatory requirements
- Transaction depends on completion of Zhibao’s De-Classification Restructuring
- Definitive purchase agreement is only expected within 12 months, adding timing uncertainty
Details
Market move: ZBAO -5.50% vs previous close. MeVX acquisition LOI
On Sep 23, the day this news came out, the latest delayed price for ZBAO is 5.50% below the previous close. Argus tracked a peak move of +16.6% during the session. Argus tracked a trough of -27.7% from its starting point during tracking. Our momentum scanner has recorded 29 alerts for this stock so far that day. The latest delayed price is $0.10. Relative volume is exceptionally heavy at 245.9x the average.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
- MeVX users
- approximately 2 million users
- MeVX user base
- Sticky deposits
- $8 million
- MeVX platform
- Expected definitive purchase agreement
- within the next 12 months
- Expected execution, subject to stated conditions
Key Terms
letter of intent financial
non-custodial technical
on-chain technical
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KEY HIGHLIGHTS
- Strategic Acquisition: Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company") has signed a non-binding Letter of Intent (LOI) to acquire MeVX, a non-custodial multi-chain trading terminal specializing in on-chain assets and meme-asset trading scenarios.
- Feature-Rich On-Chain Platform: MeVX supports trading across major blockchains and connects to third-party decentralized trading infrastructure. It provides a consumer-facing tool suite featuring advanced options to users.
- Established User Base & Regional Reach: MeVX boasts approximately 2 million users, sticky deposits of
$8 million , and localized operations in Vietnam serving as a foundation for broader Southeast Asian expansion.
New York, New York--(Newsfile Corp. - September 23, 2026) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company"), a leading high-growth InsurTech company and pioneer of the 2B2C digital embedded insurance model in China, today announced that it has entered into a non-binding Letter of Intent (LOI) to acquire MeVX.
The LOI represents the preliminary understanding reached between Zhibao and MeVX with respect to the proposed transaction. The transaction will be subject to due diligence, audit and other customary procedures, compliance with applicable PRC and U.S. SEC legal and regulatory requirements, completion of Zhibao's De-Classification Restructuring, such that Zhibao ceases to be regarded as a domestic enterprise issuing and listing its securities outside China for the purposes of the CSRC Filing Measures and is no longer subject to the filing requirements thereunder (if necessary). Upon and subject to the satisfaction of the foregoing, the transaction shall be formalized by a definitive purchase agreement, which is currently expected to be executed within the next 12 months
About MeVX and On-Chain Infrastructure MeVX is a non-custodial, multi-chain trading terminal and analytics platform built specifically for on-chain crypto users. Unlike centralized exchanges, MeVX operates as a non-custodial platform connecting directly to underlying decentralized trading protocol infrastructure across major networks including Solana, Ethereum, BNB Chain, and Base.
To date, MeVX has accumulated approximately 2 million users and
About Zhibao Technology Inc. Zhibao Technology Inc. is a leading and high-growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities. 2B2C ("to-business-to-customer") digital embedded insurance is the Company's innovative business model, which Zhibao pioneered in China. Zhibao launched the first digital insurance brokerage platform in China in 2020, powered by its proprietary PaaS ("Platform as a Service"). Zhibao has developed over 40 proprietary digital insurance solutions addressing different scenarios in a wide range of industries, including travel, sports, logistics, utilities, and e-commerce. For more information, please visit: ir.zhibao-tech.com.
Forward-Looking Statements Statements in this press release about future expectations, plans, and prospects, including the potential acquisition of MeVX, the timing and execution of definitive documentation, and expected growth opportunities, constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "continue," "expect," "intend," "may," "plan," "will," "target," and similar expressions are intended to identify forward-looking statements. The proposed transaction is non-binding and subject to significant conditions, including due diligence, regulatory approvals, corporate restructuring, and definitive agreements; as such, there can be no assurance that a transaction will be completed on the terms described or at all. The Company undertakes no obligation to update forward-looking statements except as required by law. Additional factors and risks are discussed in the "Risk Factors" section of the Company's SEC filings, available at www.sec.gov.
Investor Relations Contact Zhibao Technology Inc. Investor Relations Office Email: ir@zhibao-tech.com
Skyline Corporate Communications Group, LLC Scott Powell, President Avenues Tower 1177 Avenue of the Americas, 5th floor New York, NY 10036 Office: (646) 893-5835 Email: info@skylineccg.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315641
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