Zhibao Technology's Sports Insurance Platform Covers 1.47 Million Participants Across 17,569 Events in 2025, Expanding B-End Network to 732 Partners
Rhea-AI Summary
Zhibao Technology (NASDAQ: ZBAO) expanded its sports insurance ecosystem in 2025, covering 1.47 million participants across 17,569 events and scaling a B-end network to 732 partners. The firm deployed PaaS-driven 2B2C solutions for associations, venues, training institutions, event organizers, and professional clubs.
Zhibao highlighted low-cost event coverage (as little as RMB 4 / $0.58 per person) and digital claims/enrollment automation as drivers of scale.
Positive
- Covered 1.47 million participants in 2025
- Managed 17,569 sporting events during 2025
- Expanded B-end network to 732 partners
- Offered event insurance for as low as RMB 4 per person
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
ZBAO fell 7.06% while key peers were mixed: HUIZ up 1.19%, GOCO up 1.85%, RELI down 9.83%, AIFU down 8.54%, TIRX down 41.39%. Momentum scanner only flagged XHG, up 11.25% without news, suggesting ZBAO’s move was stock-specific rather than a coordinated sector shift.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 11 | Drone insurance launch | Positive | -8.5% | Introduced online drone insurance for individuals via PaaS and F+More partnership. |
| Mar 02 | Gas insurance growth | Positive | +53.9% | Reported near RMB 100M gas premiums and RMB 56M brokerage revenue, up 10x YoY. |
| Feb 13 | AI agents rollout | Positive | -5.8% | Launched ten AI agents to automate code, operations, promotion and customer service. |
| Jan 16 | Nasdaq compliance | Positive | -2.5% | Regained compliance with Nasdaq reporting rules after filing delayed Form 20-F. |
| Jan 13 | FY 2025 results | Negative | -2.6% | Reported strong revenue and GWP growth but returned to net loss and operating loss. |
Recent history shows mixed reactions: strong gains on some growth milestones but negative or muted moves after several positive operational updates, indicating inconsistent alignment between news tone and short-term price action.
Over the last few months, Zhibao reported 51% revenue growth to RMB 276.9M in fiscal 2025 but swung to a RMB 62.0M net loss, while expanding gross written premiums to RMB 1.57B. It regained Nasdaq reporting compliance and launched new AI agents to automate product development. Operationally, it highlighted rapid growth in gas insurance, nearing RMB 100M in premiums, and introduced a drone insurance product integrated into its PaaS, all reinforcing its 2B2C embedded insurance strategy that today’s sports-insurance update extends.
Market Pulse Summary
This announcement highlights rapid expansion of Zhibao’s sports insurance ecosystem, covering 1.47 million participants across 17,569 events and engaging 732 B-end partners in 2025. It extends the company’s 2B2C and PaaS strategy previously seen in gas and drone insurance into marathons and professional clubs. Investors may watch how this volume converts into sustainable revenue and margins, alongside previously reported net losses, regulatory complexities in China, and the company’s broader digital transformation efforts.
Key Terms
2b2c technical
paas technical
AI-generated analysis. Not financial advice.
Key Highlights
- Scale in Sports Safety: Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company") and partner Shenzhen Qianhai Yundongbao Network Technology Company ("Sportcares") for sports-related solutions provided insurance coverage for 1.47 million participants across 17,569 sporting events in 2025.
- Deepening Market Penetration: The Company successfully empowered 732 B-end partners, including 214 sports associations, 305 venues, 148 training institutions, and 50 event organizers.
- Standout Marathon Presence: Zhibao offered insurance for 252 marathons, protecting races like the SCO Kunming (Yunnan, China) with insurance as inexpensive as RMB 4 (USD
$0.58) per person per race. - Insurance for Professionals & Enthusiast Athletes: The 2B2C model extends to professional athletics, providing specialized insurance for 15 professional clubs across the Chinese Super League, League One, and League Two.
- Digital Integration via PaaS: Utilizing its proprietary Platform-as-a-Service (PaaS), Zhibao delivers a digital-native customer experience. Utilizing our PaaS, Zhibao can handle large volumes of enrollments and claims with ease.
Shanghai, China--(Newsfile Corp. - March 17, 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 a significant expansion of its sports insurance ecosystem. Throughout 2025, the Company's sports solutions successfully provided comprehensive coverage for 1.47 million individuals across 17,569 sporting events, strengthening our position as a provider for China's booming sports industry.
Sports in China is a large and growing sector. According to government and industry sources the industry is targeted to generate over RMB 7 trillion (USD 1 trillion) in economic output by 2030. The development of the sports industry has also been included in China's 15th Five-Year Plan (2026-2030). Strong governmental support will aid the continued growth of this key industry.
Deepening our Leadership in Sports Insurance
Sports insurance is a core solution for Zhibao. Through our partnership with Sportcares, Zhibao has access to a substantial network of sporting associations, venues, training institutions, event organizers, and professional sports clubs. Through our various solutions targeting different types of sporting B channels, we can reach many types of end users, including amateur, enthusiast, and professional athletes.
As of the end of 2025, Zhibao's collaborative B-channel network has grown to 732 partners, including:
- 214 Sports Associations: Key partners include the Guangdong Football Association, Jiangsu Basketball Association, Hubei Fishing Association, and the Jiangxi Winter Swimming Sports Association, Hainan Street Dance Association and Hohhot Basketball Association.
- 305 Sports Venues: Providing digital risk management for facilities and their users.
- 148 Sports Training Institutions: Ensuring safety and liability insurance for the next generation of athletes.
- 50 Event Organizers: Streamlining insurance procurement for large-scale regional competitions, including
- 15 Professional Sports Clubs: Providing specialized protection for high-profile teams such as Shenzhen Peng City (Chinese Super League), and League One/Two clubs including Meizhou Hakka, Shaanxi Union, Guangdong Mingtu, Ganzhou Ruishi, and Guangzhou Dandelion
Strong focus on the Marathon and Mass Participation Sector
A particular highlight of Zhibao's 2B2C business model and PaaS is our focus on marathons and similar large-scale events.
Zhibao's digital-first approach has been instrumental to our success in high-traffic endurance events. The Chinese Athletic Association estimates there were 7 million runners across 749 races in China in 2025. Zhibao provided insurance coverage for 311 races in 2025.
Prestigious races covered by Zhibao include:
- 2025 SCO Kunming Marathon
- 2025 Leshan Double Heritage Marathon
- 2025 Heyuan Wanlv Lake Marathon
- 2025 Liaocheng Half Marathon
- 2025 Chilechuan Grassland Half Marathon
Using the SCO Kunming Marathon, held on December 1st 2025 in the provincial capital of China's Yunnan Province, as an example, Zhibao and Sportcares offered a customized accident insurance called "Dasai Bao" ("Big Race Cover") to the over 25,000 runners participating in the event. This coverage is specific to accidents or sudden medical conditions that occur during the occurrence of the event. By utilizing the scale of such events and careful negotiation, insurnace plans can be purchased for as low as RMB 4 (USD
Partnerships with Professional Teams and Sporting Associations
Zhibao's sports solution has also been successfully deployed with various sporting associations and professional sports teams. By focusing on the individual needs of specific sports and their participants, Zhibao has reached over 200 sporting associations ranging from fishing to winter sports. Insurance for professional teams include soccer (football) and basketball. The wide range of associations and teams demonstrate the versatility of Zhibao's platform, and our ability to source specific and targeted insurance products under the "Quanmin Jiansheng Bao" ("Everyone Get Healthy Coverage").
Liability Insurance for Sporting Venues and Training Institutions
The third facet of Zhibao's sport insurance solution provides liability insurance to sporting venues and accident insurance to their users. Termed "Zuzhibao" ("Organizer's Cover,") Zhibao has sourced a flexible and comprehensive liability insurance product for sporting venues ranging from billiards to jet skis.
Management Commentary
"Our performance in 2025 demonstrates the immense versatility and scalability of our 2B2C business model," said Mr. Botao Ma, Chief Executive Officer of Zhibao. "By embedding our PaaS-driven solutions into the operations of over 700 sports-related entities, we are not just selling insurance; we are providing a safety net for millions of participants, insurance they might not have been able to find or purchase on their own. For an enthusiast or professional athlete, these coverages are invaluable. While the sports sector is a natural use case for our 2B2C model and our PaaS, our experience in this sector serves as a powerful roadmap for our expansion into other high-growth industries."
Mr. Xiaowei Le, Chief Operating Officer of Zhibao, added: "The sports industry demands real-time, digital-native solutions. Our ability to manage 17,569 events and protect 1.47 million people highlights the efficiency of our automated policy management and claims processes. We remain committed to iterating our technology to meet the evolving preferences of China's tech-savvy consumers."
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 ("Zhibao China Group") in China. 2B2C ("to-business-to-customer") digital embedded insurance is the Company's innovative business model, which Zhibao China Group pioneered in China. Zhibao China Group launched the first digital insurance brokerage platform in China in 2020, which is powered by their proprietary PaaS ("Platform as a Service").
Zhibao has developed over 40 proprietary and innovative digital insurance solutions addressing different scenarios in a wide range of industries, including but not limited to travel, sports, logistics, utilities, and e-commerce. Zhibao acquires and analyzes customer data, utilizes big data and AI technology to continually iterate and enhance its digital insurance solutions. This iterative process, in addition to continually improving its digital insurance solutions, will keep it abreast of the new trends and customer preferences in the market. For more information, please visit: ir.zhibao-tech.com.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "is/are likely to," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of our annual reports on Form 20-F (as amended) and registration statements on Form F-1 (as amended) that have been filed or will be filed from time to time with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statements and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review 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/288817
FAQ
How many participants did Zhibao (ZBAO) insure in 2025?
What does ZBAO's network of 732 B-end partners mean for investors?
How many events did Zhibao (ZBAO) manage through its sports solutions in 2025?
What is the pricing level for Zhibao's marathon/event insurance (ZBAO)?
Does Zhibao (ZBAO) insure professional sports clubs and which ones were noted?
