Business
Zhibao Technology Inc. Launches Zhibao Yingshi - A Joint Venture to Accelerate Development of Medical Insurance Products
Shanghai, China--(Newsfile Corp. - December 12, 2025) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company"), a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities in China, today announced the commencement of operations of Shanghai Zhibao Yingshi Health Technology Co. Ltd ("Zhibao Yingshi"), a joint venture company that was formed in September 2025 by Zhibao and Shanghai Xingtao Network
About this update from Zhibao Technology Inc.
[{"type":"text","content":"Shanghai, China--(Newsfile Corp. - December 12, 2025) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company"), a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities in China, today announced the commencement of operations of Shanghai Zhibao Yingshi Health Technology Co. Ltd ("Zhibao Yingshi"), a joint venture company that was formed in September 2025 by Zhibao and Shanghai Xingtao Network Technology Co. Ltd, ("Yingshi Health"), a player in the mid-end medical insurance space in China.","length":648,"tagName":"p"},{"type":"text","content":"In November 2025, the Company recorded the first revenue in Zhibao Yingshi, primarily from service fees for mid- and high-end medical policies issued by Pingan Property and Casualty Insurance Company's branches.","length":215,"tagName":"p"},{"type":"text","content":"Pursuant to the Cooperation Framework Agreement (the "JV Agreement"), dated September 1, 2025, by and among Zhibao Technology Co., Ltd. ("Zhibao China"), Yingshi Health and Chunhui Ji, the controlling shareholder of Xingtao, Zhibao China agreed to, among other things, set up Zhibao Yingshi with Yingshi Health and contributed capital for 51% of the equity interest in Zhibao Yingshi. As a result, Zhibao Yingshi is a 51% owned subsidiary of Zhibao China.","length":475,"tagName":"p"},{"type":"text","content":"Key Contributions:","length":18,"tagName":"p"},{"type":"text","content":"Pursuant to the JV Agreement, the parties agreed to contribute their resources and expertise to empower the success of Zhibao Yingshi. Specifically, among other things, the parties agreed to the following matters:","length":213,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"The Company will contribute its current strengths and resources to provide reinsurance, brokerage, medical network, and risk management services. The Company's existing Managing General Underwriter ("MGU") team and business will be merged into the JV.","length":265,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Yingshi Health agrees to merge their existing and future business in health insurance into Zhibao Yingshi and Mr. Chunhui JI, Yingshi Health's...