ZBAO

This article first appeared on GuruFocus. Release Date: April 17, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Zhibao Technology Inc (NASDAQ:ZBAO) reported a 41% increase in revenue, reflecting successful execution of growth strategies. The company has expanded its collaboration to over 3,100 big channels, reaching more than 27 million end customers. The launch of PNU AI agents has significantly enhanced operational efficiency, with AI agents automating over 50% of daily code generation. Zhibao's digital insurance brokerage platform now supports over 40 proprietary digital insurance solutions across various sectors. The natural gas insurance segment achieved a tenfold year-over-year increase in total premiums, validating the company's strategy. Selling expenses increased by 123%, primarily due to higher marketing service fees. General and administrative expenses rose by 46%, driven by increased professional service expenses. Despite revenue growth, the company only achieved a modest net income of RMB0.6 million. Research and development expenses decreased by 21%, indicating potential underinvestment in innovation. The company had a relatively low cash and cash equivalents balance of RMB27.5 million as of December 31, 2025. Warning! GuruFocus has detected 5 Warning Signs with ZBAO. Is ZBAO fairly valued? Test your thesis with our free DCF calculator. Q: Have you given any thought to filing on a quarterly basis so that investors can follow the company more closely? A: Yes, the company will be moving to a quarterly filing schedule after this filing. The next filing will be for the third quarter of 2026, followed by the full-year filing for 2026. (Daniel Tao, Investor Relations Manager) Q: Can you provide more insight into how AI agents are supporting your operations? A: The AI agents are primarily internally facing, helping us process user data to improve workflows and technology. They enhance internal efficiency, allowing our sales team to distribute different types of insurance more effectively. This technology helps us maintain efficiency with a relatively small team managing a large customer base. (Daniel Tao, Investor Relations Manager) Q: What are the underlying drivers of the expense increase, and how are you ensuring revenue growth translates into sustainable profitability? A: The increase in selling and marketing expenses is part of our strategy to acquire more B channels, which is crucial for our business model. This investment is expected to yield results over time, leading to more end customers and increased revenue. (Sean, Company Representative) Q: Can you talk about the marketing effort, the size of the sales team, and expansion plans? A: Our sales team consists of 30 to 50 people focused on acquiring B channels rather than direct customer acquisition. We incentivize our sales staff to sign up B channels, which brings in end customers for our solutions. This approach leverages partnerships and strategic investments to drive customer inflow. (Daniel Tao, Investor Relations Manager) Q: How is the company planning to maintain its growth momentum in the second half of fiscal year 2026? A: We plan to drive organic growth through continued investments in our sales force and technology platform. Our strategy includes expanding B channels, enhancing digital insurance solutions, and seeking new strategic partnerships to sustain growth and improve financial performance. (Mitchell Botao-Ma, CEO) For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Shanghai, China--(Newsfile Corp. - April 7, 2026) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao" or the "Company"), a leading high-growth InsurTech company and pioneer of the 2B2C digital embedded insurance model in China, today announced its 1H2026 Earnings Conference Call, recapping the Company's financial performance for the six month period ended December 31, 2025, as well as participation in the Skyline Signature Series investor webinar series. The Company will additionally host an investor outreach event in Mandarin Chinese. 1H2026 Earnings Conference Call Details Date: Friday, April 17, 2026 Time: 10:00 AM ET Location: Virtual Participant Listening Options Interested participants can join the event by using the dial-in numbers, or by clicking the link to join, provided below, for instant access to the call. U.S. Domestic: 1-877-423-9813 International: 1-201-689-8573 Link to Join: https://callme.viavid.com/viavid/?callme=true&passcode=13750000&h=true&info=company&r=true&B=6 Event Replay Options A replay of Zhibao Technology's earnings conference call will also be made available 3 hours following the conclusion of the call, accessible until Friday, April 24, 2026, at 11:59 PM ET. For anyone unable to attend the live event that would like to access the event replay, please dial the numbers and provide the access ID outlined below. Replay Dial-In: 1-844-512-2921 or 1-412-317-6671 Access ID: 13759796 We invite investors and analysts to join our upcoming 1H2026 earnings conference call, recapping the Company's financial performance for the six month period ended December 31, 2025, to learn more about the Company's recent performance and future growth outlook. Skyline Signature Series Webinar Following Zhibao Technology's 1H2026 earnings conference call, the Company will participate in the Skyline Signature Series investor webinar, scheduled to take place Friday, April 17, 2026, at 12:00 PM ET, where management will provide a deeper dive into recent initiatives and developments, as well as host an interactive Q&A session where audience members will have the opportunity to engage and ask questions directly. Date: Friday, April 17, 2026 Time: 12:00 PM ET Location: Virtual Link to Register: https://meetings.skylineccg.com/meeting/register?sessionId=1062015086&src=091d4f060576f91bcd054bfb6bb8c993c1411881fbae39d97a19b7477f604f72 Investor Outreach Event (conducted in Chinese) The Company is scheduled to host an Investor Outreach event on Wednesday April 15, 2026 at 11am China Standard Time, where management will recap the earnings results, provide more detail on recent initiatives, and answer audience questions. Please note this event will be held in Mandarin Chinese only. Date: Wednesday April 15, 2026 11am China Standard Time (GMT+8) 会议时间：2026/04/15 11:00 (GMT+8) 中国标准时间 - 北京 Please register by clicking on the below link prior to the event. 该会议开启了报名功能，请点击链接报名后入会： https://meeting.tencent.com/dm/OqSmNLnWnjzx Tencent Meeting/ VooV Meeting ID: 144-379-949 Password: 0123 #腾讯会议：144-379-949 会议密码：0123 About Zhibao Technology Inc. Zhibao Technology Inc. (NASDAQ: ZBAO) is a leading 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, utilize 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.zhibaotech.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: [email protected] 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: [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291448

Shanghai, China--(Newsfile Corp. - March 31, 2026) - 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 its unaudited financial results for the six months ended December 31, 2025 (the first half of fiscal year 2026). First Half of Fiscal Year 2026 Financial Highlights Total Revenues: Increased by 41% to RMB 206.0 million ($29.5 million), up from RMB 146.4 million in the same period of 2024. Gross Profit: Rose to RMB 71.7 million ($10.3 million), representing a 34.8% gross margin, a significant improvement compared to 29.1% in the same period of 2024. Net Income: Achieved a successful turnaround with net income of RMB 0.6 million ($0.1 million), compared to a net loss of RMB 0.6 million in the same period of 2024. Operational and Strategic Highlights Continued B-Channel Expansion: As of the date of this report, Zhibao has collaborated with more than 3,100 B-channels, compared to 2,000 in the same period last year. These channels have allowed the Company to reach and serve a pool of more than 27 million end customers, compared to 20 million in the same period last year. Diversified Portfolio: The Company's digital insurance brokerage platform now supports over 40 proprietary digital insurance solutions addressing sectors including travel, sports, logistics, utilities, and e-commerce. Natural Gas Sector Leadership: Leveraging its 2B2C embedded model, the Company's natural gas insurance segment surpassed RMB 100 million in total premiums over the past year, with brokerage revenue reaching nearly RMB 60 million. Management Commentary "Our results for the first half of fiscal 2026 are indicative of the sustained rapid growth of our 2B2C digital embedded insurance model," said Mr. Botao Ma, Chairman and Chief Executive Officer of Zhibao. "The 41% revenue increase and our return to profitability reflect the successful execution of our growth strategies. I am pleased to see our investment in sales expenses to accelerate our onboard of new B channels and their end users has begun to show results, with the number of B channels reaching over 3,100 and the number of end users reaching over 27 million." "The results announced today reflect a growing familiarity and acceptance of our business model," said Yuanwen Xia, Chief Financial Officer of Zhibao. We intend to continue growing our revenues by making targeted and strategic investments in our sales teams. As we continue to scale, this will allow us to make improvements to our gross and net income figures in coming years." Financial Results for the Six Months Ended December 31, 2025 Revenues Our revenues increased by approximately RMB 59.6 million (US$8.5 million), or 41% to approximately RMB 206.0 million (US$29.5 million) for the six months ended December 31, 2025 from approximately RMB 146.4 million for the six months ended December 31, 2024. The increase was primarily driven by an increase of approximately RMB 59.1 million from the digital insurance brokerage, with an increase of approximately RMB 0.5 million from our MGU service fees, as more fully discussed below. Cost of revenues Our cost of revenue increased by approximately 29% from RMB 103.8 million for the six months ended December 31, 2024 to approximately RMB 134.3 million (US$19.2 million) for the six months ended December 31, 2025. The increase of cost of revenues was in line with the increase of revenues. However the increase rate of cost of revenues was lower than the increase rate of revenue which was primarily because Zhonglian, the newly acquired subsidiary, earned a higher profit margin in insurance brokerage services than our existing subsidiaries. Gross margin As a result of foregoing, our gross margin was 29.1% and 34.8%, respectively, for the six months ended December 31, 2024 and 2025, respectively. Selling expenses Our selling expenses increased by approximately RMB 22.9 million, or 123% from approximately RMB 18.6 million for the six months ended December 31, 2024 to approximately RMB 41.4 million (US$5.9 million) for the six months ended December 31, 2025. The increase was mainly due to an increase of approximately RMB 20.7 million in marketing service fees to gain an increase of GWP , an increase of approximately RMB 1.4 million in salary and welfare expenses and an increase of approximately RMB 0.5 million in entertainment expenses. General and administrative expenses Our general and administrative expenses increased by approximately RMB 6.6 million, or 46% from approximately RMB 14.3 million for the six months ended December 31, 2024 to approximately RMB 20.9 million (US$3.0 million) for the six months ended December 31, 2025. The increase was mainly due to an increase of approximately RMB 7.1 million in professional service expenses and an increase of approximately RMB 3.7 million in salary and welfare expenses. Research and development expenses Our research and development expenses decreased by approximately RMB 1.2 million, or 21% from approximately RMB 5.9 million for the six months ended December 31, 2024 to approximately RMB 4.7 million (US$0.7 million) for the six months ended December 31, 2025. The decrease was mainly due to a decrease in outsourcing expenses for the development of our online platform. Net (loss) income As a result of the foregoing, we had a net loss of approximately RMB 0.6 million and a net income of approximately RMB 0.6 million for the six months ended December 31, 2024 and 2025, respectively. About Zhibao Technology Inc. Zhibao Technology Inc. (NASDAQ: ZBAO) 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, utilize 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. Use of Non-GAAP Financial Measure In addition to consolidated U.S. GAAP financial measures, we consistently evaluate our use of and calculation of the non-GAAP financial measures, "Adjusted EBITDA". Adjusted EBITDA is a financial measure defined as our EBITDA, adjusted to eliminate the effects of certain non-recurring items, that do not reflect our ongoing strategic business operations. EBITDA is computed as net income (loss) before interest, taxes, depreciation, and amortization. Adjusted EBITDA is EBITDA further adjusted for certain income and expenses, which management believes results in a performance measurement that represents a key indicator of the Company's core business operations of digital insurance brokerage services. The adjustments currently include gain from early termination of leases, loss from settlement of convertible notes, and changes in fair value of derivative liabilities. Reconciliations of Adjusted EBITDA to the most comparable U.S. GAAP financial metric for historical periods are presented in the table below: Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about Zhibao's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the Company's filings with the SEC. A number of additional factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Zhibao's goal and strategies; Zhibao's expansion plans; Zhibao's future business development, financial condition and results of operations; Zhibao's expectations regarding demand for, and market acceptance of, its solutions and services; Zhibao's expectations regarding keeping and strengthening its relationships with insurance companies, financial institutions, and insured parties; general economic and business conditions; and assumptions underlying or related to any of the foregoing. All information provided in this press release and in the attachments is as of the date of this press release, and Zhibao does not undertake any 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 required under applicable law. Although Zhibao 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 Zhibao 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 statement 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. 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: [email protected] 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: [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290633

Shanghai, China--(Newsfile Corp. - January 13, 2026) - 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 its fiscal year 2025 financial results for the twelve month period ended June 30, 2025. Recent Developments Product Offerings and Collaborations The Company's subsidiary, Zhibao Labuan Reinsurance Company Limited ("Zhibao Labuan") received its general reinsurance license in July 2025 from its regulator, Labuan Financial Services Authority ("LFSA"). Additionally, Zhibao Labuan was assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of "bbb-" (Good) from AM Best on November 6, 2025. Zhibao signed an agreement to collaborate on establishing a joint venture company ("Zhongfang JV"), to be formed, with Beijing Zhongfang Hongchuang Technology Company Limited ("Zhongfang"), a wholly-owned subsidiary of the China Disaster Prevention Association ("CDPA"), and Guangzhou Ruiling Intelligent Technology Co. Ltd. ("Ruiling"). Through the Zhongfang JV, the Company agreed with the other two parties to establish a long-term, strategic relationship aimed at jointly developing an innovative "Insurance + Technology + Service" model to deepen cooperation in the field of risk reduction services across China. In July 2025, the Company entered into a share purchase agreement with two shareholders of Zhonglian Jinan Insurance Brokers Co., Ltd. ("Zhonglian") in which Zhibao's subsidiary, Zhibao China, agreed to acquire an aggregate of 51% of the equity interest in Zhonglian for a total purchase price of RMB 25.5 million (approximately US$3.5 million) and will be paid in four installments. Zhibao has acquired 51% equity ownership of Zhonglian in September 2025, subject to adjustment based on the three additional installment. Financial and Operational Summary for the Year Ended June 30, 2025 Total revenues in the year ended June 30, 2025 increased by 51% to RMB 276.9 million (US$38.7 million) from RMB 183.7 million in the same period of 2024. Gross margin was 40.7% and 41.0%, respectively, for the fiscal year ended June 30, 2024 and 2025, respectively, and gross profit was RMB 113.6 million (US$ 15.9 million) for the fiscal year ended June 30, 2025 compared to gross profit of RMB 74.8 million in the same period of 2024. Net loss in the year ended June 30, 2025 was RMB 62.0 million (US$8.7 million), compared to net income of RMB 13.3 million in the same period of 2024. Net loss per share ended June 30, 2025 was RMB 1.94 (US$0.27), compared to net income per share of RMB 0.44 in the prior year. Loss from operations was RMB 53.5 million (US$7.5 million) in the year ended June 30, 2025, compared to operation income of RMB 10.1 million in the same period of 2024. As of June 30, 2025, the Company had cash and cash equivalents of RMB 10.3 million (US$1.44 million), compared to RMB 2.4 million as of June 30, 2024. Our development of B channels showed strong gains over the last several months. As of June 30, 2025, the Company increased the number of B channels that it works with to over 2,400. B channels are distributed amongst diverse market segments and a key component to growing the 2B2C embedded digital insurance model. Through the business channels, Zhibao experienced a large growth in the number of end customer users that the Company serviced. As of June 30, 2025, the Company reached and served over 24 million end customer users, which Zhibao expects will continue to drive revenue in the coming years. Management Commentary and Financial/Business Outlook Mr. Botao Ma, Chief Executive Officer of Zhibao Technology, commented, "For the fiscal year of 2025, we continued to make strong progress in our strategy to grow revenues, diversify our revenue base, and develop and enhance strategic relationships. I am very pleased with our top-line revenue results for fiscal 2025, which saw a 51% increase for the full year. This increase was largely attributable to the growing acceptance of the Company's 2B2C business model and increasing demand for Zhibao's digital brokerage platform and digital insurance solutions. We also expect continued positive growth in our B Channels, and C end customer markets. We have successfully implemented our strategy of expanding our 2B2C digital insurance solutions and are executing on the synergies of our diversified partnerships which are attributable to the revenue growth during the fiscal year. Further, we continue to drive organic growth through investments into our sales force and technology platform and believe that the sales growth momentum that we experienced during the past period will continue. As we continue into fiscal year 2026, we plan on continuing our execution on our strategy of driving the organic growth of our company through continued investments in our sales force and technology platform. Additionally, we believe that we can build on the momentum of our growth and business and financial performance as we move through the next several months. Further, we will seek to capitalize on our pillars of strength which include our innovative business model, market leading digital insurance solutions, advanced technology platform, and our experienced management team with extensive experience in the insurance industry and digital technology markets. The net loss that we experienced in the fiscal year of 2025 was largely attributable to an increased investment into selling expenses. As part of our next ten year plan, as unveiled during our ten year anniversary celebration, the Company has many growth opportunities ahead, and we believe this investment will help us maintain our rapid growth over the next few years. Our management team remains committed to maximizing shareholder value and gaining higher returns from our investments through strategic acquisitions, high growth initiatives, long term partnerships and diversifying the Company's revenue base to achieve dependable cash flow streams and attractive company valuations." Financial Results for the Year Ended June 30, 2025 Revenues Revenues increased by approximately RMB 93.3 million (US$13.0 million), or 51% to approximately RMB 276.9 million (US$38.7 million) for the fiscal year ended June 30, 2025 from approximately RMB 183.7 million for the fiscal year ended June 30, 2024. The increase was primarily driven by an increase of approximately RMB 99.7 million from the digital insurance brokerage, partially offset against a decrease of approximately RMB 6.7 million from the MGU service fees. Revenues from Digital Insurance Brokerage services revenue increased by approximately RMB 99.7 million, or 57%, to approximately RMB 273.8 million (US$38.2 million) for the fiscal year ended June 30, 2025 from approximately RMB 174.1 million for the fiscal year ended June 30, 2024. The increase was mainly attributable to combined effects of an increase of gross written premiums ("GWP") from approximately RMB 1.19 billion for the fiscal year ended June 30, 2024 to approximately RMB 1.57 billion (US$0.22 billion) for the fiscal year ended June 30, 2025, where the increase in GWP was primarily due to an increase of the number of insurance policies for property and casualty insurance products; and an increase in commission rate from weighted average rate of approximately 15.7% for the fiscal year ended June 30, 2024 to approximately 17.8% for the fiscal year ended June 30, 2025. MGU Service Fees segment decreased by approximately RMB 6.7 million, or 66% to approximately RMB 3.5 million (US$0.5 million) for the fiscal year ended June 30, 2025 from approximately RMB 10.2 million for the fiscal year ended June 30, 2024. The decrease was mainly attributable to decrease in GWP for the MGU services which was due to abrupt closure of business by a reinsurance partner in the high-end medical sector. The GWP for the MGU services was approximately RMB 82 million and RMB 36 million (US$5.0 million) for the fiscal year ended June 30, 2024 and 2025, respectively. Cost of Revenues Cost of revenue increased by approximately 50% from RMB 108.9 million for the fiscal year ended June 30, 2024 to approximately RMB 163.4 million (US$22.8 million) for the fiscal year ended June 30, 2025. The increased cost of revenues was in line with the increase of revenues. Operating Expenses Selling expenses increased by approximately RMB 80.6 million, or 255% from approximately RMB 31.6 million for the fiscal year ended June 30, 2024 to approximately RMB 112.2 million (US$15.7 million) for the fiscal year ended June 30, 2025. The increase was mainly due to an increase of approximately RMB 82.0 million in marketing service fees to gain an increase of GWP which was expected to decrease in next years, partially offset by a decrease of approximately RMB 0.8 million in salary and welfare expenses due to resignation of certain salespersons and a decrease of approximately $0.9 million in entertainment expenses. General and administrative expenses increased by approximately RMB 26.1 million, or 145% from approximately RMB 18.0 million for the fiscal year ended June 30, 2024 to approximately RMB 44.0 million (US$6.1 million) for the fiscal year ended June 30, 2025. The increase was mainly due to an increase of approximately RMB 12.3 million in provision of credit losses against accounts receivable due to increased aging of accounts receivable, an increase of approximately RMB 9.1 million in provision of allowance against prepayments to a related party, and an increase of approximately RMB 5.3 million in professional service expenses for filing of legal proceedings and services to the listed company. Research and development expenses decreased by approximately RMB 4.2 million, or 28% from approximately RMB 15.1 million for the fiscal year ended June 30, 2024 to approximately RMB 10.9 million (US$1.5 million) for the fiscal year ended June 30, 2025. The decrease was mainly due to a decrease of approximately RMB 3.9 million in service expenses and a decrease of approximately RMB 0.3 million in outsourcing expenses for the development of our online platform, which was completed in the year of 2024. Income (Loss) from Operations As a result of the aforementioned results, loss from operations for the year ended June 30, 2025 was RMB 53.5 million (US$7.5 million) compared to operation income of RMB 10.1 million in the same period of 2024. Net Income/ Loss Net loss for the year ended June 30, 2025 was RMB 62.0 million (US$8.7 million), compared to a net income of RMB 13.3 million in the same period of 2024. Net loss per share ended June 30, 2025 was RMB 1.94 (US$0.27), compared to net income per share of RMB 0.44 in the prior year. Balance Sheet As of June 30, 2025, the Company had cash and cash equivalents of RMB 10.3 million (US$1.44 million), compared to RMB 2.4 million as of June 30, 2024. As of June 30, 2025, the Company had accounts receivable of RMB 114.1 million (US$15.9 million) due from insurance companies, compared to RMB 130.4 million as of June 30, 2024. As of June 30, 2025, the Company had insurance premium payable due to insurance companies of RMB 42.8 million (US$5.9 million), compared to RMB 38.4 million as of June 30, 2024. Earnings Conference Call Zhibao Technology's executive management team will conduct an earnings conference call with the investment community on Thursday January 15th 2026 at 10am Eastern Time. Investors, media and the public may use the below call-in details to participate. Participant Listening: 1-877-423-9813 or 1-201-689-8573 Call me™: https://callme.viavid.com/viavid/?callme=true&passcode=13750000&h=true&info=company&r=true&B=6 - Participants can use Guest dial-in numbers above and be answered by an operator OR click the Call me™ link for instant telephone access to the event. - Call me™ link will be made active 15 minutes prior to scheduled start time. Skyline Signature Series Investor Webinar Zhibao's executives will be presenting at the Skyline Signature Series event on Tuesday, February 3 at 12:00 p.m. Eastern time. The Company will deliver an update on its recent developments, review the outlook for the coming year, and allow for a questions and answers segment open to the investor audience. If you are interested in attending the event, please register through the following link: https://meetings.skylineccg.com/meeting/register?sessionId=1086603563&src=570c158ab3ab3210cf640fa62978cc2a56a575de530d580d85294b18c9ae6039 About Zhibao Technology Inc. Zhibao Technology Inc. (NASDAQ: ZBAO) 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, utilize 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: [email protected] 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: [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280197

Shanghai, China--(Newsfile Corp. - November 3, 2025) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao" or the "Company"), a leading and high-growth InsurTech company providing digital insurance brokerage services in China, today announced that it will delay the filing of its audited financial results for the fiscal year ended June 30, 2025. The delay in filing is due to our need for additional time to complete year-end audit procedures and testing. At this time, the Company does not anticipate any issues related to accounting principles, or disagreements with the auditor. Additionally, Company would like to update its previously issued guidance to the below. This supersedes all previously issued guidance. "Management expects Zhibao's revenue growth for fiscal year 2025 to be in the range of 60%-80% compared to the last fiscal year. Management also expects continued positive growth in other metrics, including operating profit, B Channels, C end customers for the fiscal year 2025 compared to fiscal year 2024." The Company is working diligently to resolve the matter and currently expects to file its FY2025 financial results on or before November 14, 2025. Earnings Conference Call and Investor Webinar Postponement Zhibao was originally scheduled to host its FY2025 earnings conference call on Monday, November 4, 2025, at 10:00 am ET. This call has been postponed and rescheduled for November 18, 2025. Updated participation details are below: Date: Tuesday, November 18, 2025 Time: 10:00 AM ET Location: Virtual Participant Options Dial-In Numbers: 1-877-423-9813 or 1-201-689-8573 Participants can use Guest dial-in #s above and be answered by an operator OR click the Call me™ link for instant telephone access to the event. Call me™ link will be made active 15 minutes prior to scheduled start time. Additionally, the Company was slated to deliver a live webinar investor presentation on Thursday, November 13, 2025, at 12:00 pm ET, where management will recap the Company's recent financial and operational performance. This event has also been rescheduled, and will now take place on Thursday, December 4, 2025, at 12:00 pm ET. Management invites anyone interested in learning more about the Zhibao Technology company story to register, free of charge, by accessing the link below: Registration Link: https://us02web.zoom.us/webinar/register/7017593444538/WN_MZZElP7UQIidqbIk9PLhDw About Zhibao Technology Inc. Zhibao Technology Inc. (NASDAQ: ZBAO) 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, utilize 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), registration statements on Form F-1 (as amended) and Form F-3 (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: [email protected] 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: [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272940

Shanghai, China--(Newsfile Corp. - October 23, 2025) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," "our," 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 Company's Earnings Call and issued preliminary revenue growth guidance for the fiscal year ended June 30, 2025 (the "FY2025 Earnings Call"). Management expects Zhibao's revenue growth for fiscal 2025 to be in the range of 60%-80% compared to the last fiscal year. Management also expects continued positive growth in other metrics, including profit, B Channels, C end customers for the fiscal year 2025 compared to fiscal year 2024. This anticipated increase is largely attributable to the Company's continued development of B Channels across various industries and sectors, growing acceptance of our business model, and successful execution of strategic investments, mergers and acquisitions. "I am very pleased with our expected top-line results for fiscal year of 2025. We have successfully implemented our strategy of expanding our 2B2C digital insurance solutions and are executing on the synergies of our diversified partnerships, which we believe resulted in revenue growth during this fiscal year. Further, we continue to drive organic growth through investments into our sales force and technology platform and believe that the sales growth momentum that we experienced during the 2025 fiscal year will continue," said Mr. Botao Ma, Chairman and CEO of Zhibao. "Furthermore, we are executing on our plan for strategic investments and M&A, which I believe will continue to assist our rapid top-line growth. The Company anticipates reporting its financial results for the fiscal year ended June 30, 2025, by October 31, 2025. The Company invites shareholders to attend the FY2025 Earnings Call, scheduled for November 4, 2025 at 10:00 a.m. ET, where management will deliver an in-depth overview of the Company's financial and operational performance for the fiscal year ended June 30, 2025, as well as address any analyst questions from the audience concerning these results. Earnings Call Details Date: Tuesday, November 4, 2025 Time: 10:00 AM ET Location: Virtual Participant Options Dial-In Numbers: 1-877-423-9813 or 1-201-689-8573 Call me™: https://callme.viavid.com/viavid/?callme=true&passcode=13750000&h=true&info=company&r=true&B=6 - Participants can use Guest dial-in numbers above and be answered by an operator OR click the Call me™ link for instant telephone access to the event. - The Call me™ link will be made active at 09:45 AM ET, November 4. 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. 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, utilize 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), registration statements on Form F-1 (as amended) and Form F-3 (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: [email protected] 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: [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271592

Shanghai, China--(Newsfile Corp. - May 2, 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 revised financial results for the six months ended December 31, 2024. Recently, the Company made updates to the results that were announced on April 15, 2025, in a few of the other expense and income lines that are below the (loss) gain from operations section in the income statement. The items that were adjusted included net interest expense, an addition of a gain on fair value of warrant liabilities, and a loss on settlement of convertible notes. Below are the adjustments that were made to the income statement: The net interest expense increased from RMB1.4 million ($0.2 million) to RMB1.6 million ($0.2 million). Added gain from fair value change of warrant liabilities of RMB1.4 million ($0.2 million). The loss on settlement of convertible notes increased from RMB4.1 million ($0.5 million) to RMB4.4 million ($0.6 million). Due to these adjustments, net loss decreased to RMB0.6 million ($0.09 million) for the six months ended December 31, 2024, compared to the amount reported on April 15, 2025 of a net loss of RMB1.5 million ($0.2 million) for the same period. Further, the adjusted basic and diluted GAAP loss per share was RMB0.02 ($0.00) for the six months ended December 31, 2024, versus the previous reported RMB0.05 ($0.01). In connection with the preparation of the unaudited interim condensed consolidated financial statements for the six months ended December 31, 2024, the management corrected the errors relating to the convertible notes and warrants issued to the Investor mentioned. The warrants were incorrectly accounted for and reported as equity in the Form 6-K that was filed on April 15, 2025, which should be reclassified as warrant liabilities. The errors as of December 31, 2024 and for the six months ended December 31, 2024 are revised as below in the revised unaudited condensed consolidated balance sheet and revised unaudited condensed consolidated statements of operations and comprehensive loss. Unaudited Condensed Consolidated Balance Sheet Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss The Company projects 70% revenue growth, and improvement in gross profit, profit from operations, and net income for fiscal year ending June 30, 2025 compared to the same period last year. 2 Non-GAAP Net Income Non-GAAP adjusted net income excludes the impact of gain from early termination of operating lease arrangements, loss from settlement of convertible notes, changes in fair value of derivative liabilities, and changes in fair value of warrant liabilities. For further information, see "Use of Non-GAAP Financial Measure" below. About Zhibao Technology Inc. Zhibao Technology Inc. (NASDAQ: ZBAO) 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 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 has partnered with over 2,000 business channels, through which it has already served the various insurance needs of more than 20 million end customers. For more information, please visit: www.zhibao-tech.com. Use of Non-GAAP Financial Measure In addition to consolidated U.S. GAAP financial measures, we consistently evaluate our use of and calculation of the non-GAAP financial measures, "Adjusted EBITDA." Adjusted EBITDA is a financial measure defined as our EBITDA, adjusted to eliminate the effects of certain non-recurring items, that do not reflect our ongoing strategic business operations. EBITDA is computed as net income (loss) before interest, taxes, depreciation, and amortization. Adjusted EBITDA is EBITDA further adjusted for certain income and expenses, which management believes results in a performance measurement that represents a key indicator of the Company's core business operations of digital insurance brokerage services. The adjustments currently include gain from early termination of operating lease arrangements, loss from settlement of convertible notes, changes in fair value of derivative liabilities, and changes in fair value of warrant liabilities. Reconciliations of Adjusted EBITDA to the most comparable U.S. GAAP financial metric for historical periods are presented in the table below: Exchange Rate Information This press release contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.2993 to US$1.00, the noon buying rate in effect on December 31, 2024, as set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all. 3 Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about Zhibao's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the Company's filings with the SEC. A number of additional factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Zhibao's goal and strategies; Zhibao's expansion plans; Zhibao's future business development, financial condition and results of operations; Zhibao's expectations regarding demand for, and market acceptance of, its solutions and services; Zhibao's expectations regarding keeping and strengthening its relationships with insurance companies, financial institutions, and insured parties; general economic and business conditions; and assumptions underlying or related to any of the foregoing. All information provided in this press release and in the attachments is as of the date of this press release, and Zhibao does not undertake any 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 required under applicable law. Although Zhibao 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 Zhibao 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 statement 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: [email protected] 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: [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250600

Shanghai, China--(Newsfile Corp. - April 15, 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 its unaudited financial results for the six months ended December 31, 2024. Recent Developments Private Placement - First Tranche Financing with an Institutional Investor On September 23, 2024, the Company entered into a securities purchase agreement, as amended by a letter agreement dated as of February 14, 2025, (the "Securities Purchase Agreement") with an institutional investor (the "Investor"), which provides for loans in an aggregate principal amount of up to $8.0 million under three tranches (the "Financing"). Accordingly, on September 23, 2024, the Company consummated the first closing of the first tranche and issued to the Investor, (i) a convertible promissory note in the aggregate principal amount of up to $750,000 (the "First Tranche Note"), (ii) a warrant to purchase up to 74,451 Class A ordinary shares at an initial exercise price of $4.71 per share, subject to certain adjustments, and (iii) a pre-funded warrant to purchase up to 191,522 Class A ordinary shares at a nominal exercise price of $0.0001 per share, subject to certain adjustments. In return, the Company received $675,000 (net of original issue discount of 10%) on September 24, 2024, excluding expenses and commissions. On October 1, 2024, the Company and the Investor consummated the second closing of the first tranche. The Company received additional $675,000 (net of original issue discount of 10%) on October 7, 2024, excluding expenses and commissions, and issued to the Investor a warrant to purchase up to 79,599 Class A ordinary shares at an initial exercise price of $4.47 per share, subject to certain adjustments. On December 11, 2024, pursuant to the terms of the Securities Purchase Agreement and a letter agreement dated as of December 11, 2024, pursuant to which the Company and Investor waived certain pre-conditions to the third closing of the first tranche, the Company and the Investor consummated the third closing of the first tranche, and the Company received additional $900,000 (net of original issue discount of 10%) on December 12, 2024, excluding expenses and commissions, and issued to the Investor a warrant to purchase up to 160,020 Class A ordinary at an initial exercise price of $3.25 per share, subject to certain adjustments. Private Placement - Second Tranche Financing with the Investor On February 14, 2025, pursuant to the terms of the Securities Purchase Agreement, the Company and the Investor consummated the first closing of the second tranche, and the Company received $630,000 (net of original issue discount of 10%) on February 20, 2025, excluding expenses and commissions. The Second Tranche of convertible promissory note (the "Second Tranche Note") in the aggregate principal amount of up to $2,500,000 has an initial principal amount of $700,000 reflecting the funding of the first closing of the second tranche and giving effect to the 10% original issue discount. The Company also issued to the Investor a warrant to purchase up to 202,459 Class A ordinary shares at an initial exercise price of $1.69964 per share, subject to certain adjustments. The Second Tranche Note is initially convertible into Class A ordinary shares at conversion price of $1.69964 per share, subject to certain adjustments, provided that the conversion price shall not be reduced below $0.282. The Second Tranche Note does not bear any interest and matures on February 14, 2026. Financial and Operational Summary for the Six Months Ended December 31, 2024 Total revenues in the six months ended December 31, 2024 increased by approximately 73.7% to approximately RMB 146.4 million ($20.1 million) from approximately RMB 84.3 million in the same period of 2023. Net loss in the six months ended December 31, 2024 was approximately RMB 1.5 million ($0.2 million), compared to net loss of approximately RMB 8.5 million in the same period of 2023. Income from operations was approximately RMB 3.8 million ($0.5 million) in the six months ended December 31, 2024, compared to operation loss of approximately RMB 8.4 million in the same period of 2023. As of December 31, 2024, the Company had cash and cash equivalents of approximately RMB 28.1 million ($3.9 million), compared to approximately RMB 2.4 million as of June 30, 2024. Our development of B Channels showed strong growth. As of December 31, 2024, we grew the number of B channels we work with from approximately 1,500 in the same period of 2023 to over 2,000. Our B channels are distributed amongst diverse market segments and a key component to growing our 2B2C embedded digital insurance model. Through our business channels, we experienced a large growth in the number of end customer users that we serviced. As of December 31, 2024, we reached and served in excess of 20 million end customer users, who we expect will continue to drive revenue in the coming years. Management Commentary and Financial/Business Outlook Mr. Botao Ma, Chief Executive Officer of Zhibao, commented: "I am very pleased with the 74% growth in revenues that we realized in the six months ended December 31, 2024, compared to the same period of 2023. We have focused on expanding our reach in the industry through our 2B2C digital insurance solutions and diversified partnerships that have led to positive impact on our growth and diversification of our revenue and cash flow streams." "Overall, the financial position of our business remains strong, as we have seen an acceleration in the expansion in our home market, indicating a growing acceptance of our 2B2C business model and a broader acceptance of our digital brokerage platform and digital insurance solutions," Mr. Ma continued. "For the rest of fiscal year 2025, we plan on driving the organic growth of our company through continued investments in our sales force and technology platform. With this strategy, we look to work towards achieving continued growth at the levels seen over the six months period ended December 31, 2024. As we continue to make progress in our growth strategy and improve our ability to gain higher returns from our investments, we believe that we can build on the momentum of our growth and business and financial performance in the second half of this current fiscal year." "Our management team remains committed to maximizing shareholder value through a combination of strategic acquisitions, growth initiatives, diversifying the company's revenue base, forming long term partnerships and contracts that drive attractive top and bottom line results, and investing in opportunities that provide strong returns and dependable cash flow streams." Financial Results for the Six Months Ended December 31, 2024 Revenues Total revenues in the six months ended December 31, 2024 were approximately RMB 146.4 million ($20.1 million), compared with approximately RMB84.3 million in the same period of 2023, an increase of approximately RMB 62.1 million, or 73.7%, primarily due to increase of approximately RMB 69.6 million in insurance brokerage service fees, partially offset by a decrease of approximately RMB 7.5 million in managing general underwriting ("MGU") services. The increase in insurance brokerage service fees was due to securing new customers in the six months ended December 31, 2024, while the decrease in MGU service fees was due to the closure of business by a reinsurance partner in the high-end medical sector in the year of 2023. 2 Revenues for the six months ended December 31, 2024 were comprised of insurance brokerage service fees of RMB 145.0 million and MGU service fees of RMB 1.8 million, respectively, partially net off against business taxes and surcharges of approximately RMB 0.4 million. Revenues for the six months ended December 31, 2023 were comprised of insurance brokerage service fees of approximately RMB 71.4 million and MGU service fees of approximately RMB 9.2 million, respectively, partially net off against business taxes and surcharges of approximately RMB 0.3 million. Cost of Revenues Cost of revenues for the six months ended December 31, 2024 increased to approximately RMB 103.8 million ($14.2 million) from approximately RMB 54.2 million in the same period of 2023, an increase of approximately RMB 49.6 million which was in line with increase in revenues. Operating Expenses Selling and marketing expenses for the six months ended December 31, 2024 decreased to approximately RMB 18.6 million ($2.5 million) from approximately RMB 21.0 million in the same period of 2023. The decrease was primarily attributable to decreased expenditures incurred in advertising and promotional campaigns for our digital insurance solutions as we are establishing our reputation among customers and reducing our spending on advertising and promotional campaigns. General and administrative expenses for the six months ended December 31, 2024 increased to approximately RMB 14.3 million ($2.0 million) from approximately RMB 10.2 million in the same period of 2023, an increase of approximately RMB 4.1 million. The increase of general and administrative expenses was primarily due to an increase in professional service expenses after our listing on Nasdaq. The ratio of general and administrative expenses to revenue decreased to 9.8% from 12.1% in the same period of 2023. Research and development expenses for the six months ended December 31, 2024 decreased to approximately RMB 5.9 million ($0.8 million) from approximately RMB 7.3 million in the same period of 2023, a decrease of approximately RMB 1.4 million, which was mainly due to a decrease in headcounts of personnel in our research and development department. - Income (Loss) from Operations As a result of foregoing, income from operations for the six months ended December 31, 2024 was approximately RMB 3.8 million ($0.5 million) from loss from operations of approximately RMB 8.4 million in the same period of 2023. - Net Loss Net loss for the six months ended December 31, 2024 was approximately RMB 1.5 million ($0.2 million), compared to net loss of RMB 8.5 million in the same period of 2023. Non-GAAP adjusted net income for the six months ended December 31, 2024 was approximately RMB 5.0 million ($0.7 million). - Non-GAAP Net Income Non-GAAP adjusted net income excludes the impact of gain from early termination of lease arrangements, accretion of interest expenses on convertible notes, loss from settlement of convertible notes, and changes in fair value of derivative liabilities. For further information, see "Use of Non-GAAP Financial Measure" below. Balance Sheet As of December 31, 2024, the Company had cash and cash equivalents of approximately RMB 28.1 million ($3.9 million), compared to approximately RMB 2.4 million as of June 30, 2024. As of December 31, 2024, the Company had accounts receivable of approximately RMB 135.3 million ($18.5 million) due from insurance companies, compared to approximately RMB 130.4 million as of June 30, 2024. As of December 31, 2024, we had insurance premium payable due to insurance companies of approximately RMB 111.4 million ($15.3 million), compared to approximately RMB 38.4 million as of June 30, 2024. About Zhibao Technology Inc. Zhibao Technology Inc. (NASDAQ: ZBAO) 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 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 has partnered with over 2,000 business channels, through which it has already served the various insurance needs of more than 20 million end customers. For more information, please visit: www.zhibao-tech.com. Use of Non-GAAP Financial Measure In addition to consolidated U.S. GAAP financial measures, we consistently evaluate our use of and calculation of the non-GAAP financial measures, "Adjusted EBITDA." Adjusted EBITDA is a financial measure defined as our EBITDA, adjusted to eliminate the effects of certain non-recurring items, that do not reflect our ongoing strategic business operations. EBITDA is computed as net income (loss) before interest, taxes, depreciation, and amortization. Adjusted EBITDA is EBITDA further adjusted for certain income and expenses, which management believes results in a performance measurement that represents a key indicator of the Company's core business operations of digital insurance brokerage services. The adjustments currently include gain from early termination of leases, loss from settlement of convertible notes, and changes in fair value of derivative liabilities. 4 Reconciliations of Adjusted EBITDA to the most comparable U.S. GAAP financial metric for historical periods are presented in the table below: Exchange Rate Information This press release contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.2993 to US$1.00, the noon buying rate in effect on December 31, 2024, as set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about Zhibao's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the Company's filings with the SEC. A number of additional factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Zhibao's goal and strategies; Zhibao's expansion plans; Zhibao's future business development, financial condition and results of operations; Zhibao's expectations regarding demand for, and market acceptance of, its solutions and services; Zhibao's expectations regarding keeping and strengthening its relationships with insurance companies, financial institutions, and insured parties; general economic and business conditions; and assumptions underlying or related to any of the foregoing. All information provided in this press release and in the attachments is as of the date of this press release, and Zhibao does not undertake any 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 required under applicable law. Although Zhibao 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 Zhibao 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 statement 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. 5 Investor Relations Contact Zhibao Technology Inc. Investor Relations Office Email: [email protected] 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: [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248472

Shanghai, China--(Newsfile Corp. - April 9, 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 its 1H2025 Earnings Conference Call, recapping the Company's financial performance for the six month period ended December 31, 2024, as well as a schedule of other upcoming investor focused events. "We look forward to attending these upcoming events, which serve as an excellent platform for Zhibao to not only share our latest financial results and strategic outlook, but also to further strengthen our engagement with investors around the world," said Mr. Botao Ma, CEO of Zhibao Technology Inc. "We believe that transparency and open dialogue are fundamental to building long-term trust and credibility with the investment community. These forums allow us to communicate our progress, answer questions directly, and provide deeper insight into our growth strategy as we continue to drive innovation in the InsurTech sector." 1H2025 Earnings Conference Call Date: Tuesday, April 15, 2025 Time: 11:00 AM ET Location: Virtual Participant Information: Dial-In Numbers: 1-877-423-9813 or 1-201-689-8573 Call me™: https://callme.viavid.com/viavid/?callme=true&passcode=13750000&h=true&info=company&r=true&B=6 - Participants can use the Guest dial-in numbers provided above and be answered by an operator OR click the Call me™ link for instant telephone access to the event. - The Call me™ link will be made active at 10:45 AM ET, April 15 We invite investors and analysts to join our upcoming 1H2025 earnings conference call, recapping the Company's financial performance for the six month period ended December 31, 2024, to gain valuable insights into the Company's performance and future growth outlook. Shanghai Shareholder Communication Event (in Chinese) Date: Wednesday, April 16, 2025 Time: 10:30 AM - 11:30 AM CST (10:30 PM - 11:30 PM ET, April 15) Location: In-Person, Shanghai (Virtual Attendance Available) Registration Link: https://meeting.tencent.com/dm/jM3yoxHAvSpC Registration Details: #腾讯会议：822-869-634 Meeting Password: 92333 In Person Invitation: Please send an invitation request via email to [email protected] Zhibao Technology's CEO, Mr. Botao Ma and CFO, Mr. Yuanwen Xia will deliver a presentation in Chinese, introducing the latest Company developments, including an overview of the recent 1H2025 financial performance, as well as discuss their vision for the future growth and trajectory of Zhibao. Following the Company presentation, audience members will be able to engage directly with management, through a Q&A session. We invite any local investors, in the Shanghai area, to reach out for more information on how to attend this event, and we also invite any Chinese speaking investors, who may not be able to attend the in-person event, to register to watch the presentation virtually by accessing the registration link provided above. Skyline Signature Series Webinar Date: Thursday, April 17, 2025 Time: 12:00 PM ET Location: Virtual Link to Register: https://us02web.zoom.us/webinar/register/6817437871055/WN_5CyybpRkQ5e1jDbobxRSxA The Skyline Signature Series will feature a live Company presentation delivered by Zhibao's CEO, Mr. Botao Ma, CFO, Mr. Yuanwen Xia, and IR Manager, Mr. Daniel Tao, offering insights into the Company's strategic vision, operational progress, and growth opportunities, while providing another channel for the Company to communicate its recent financial performance with the investment community. Following Zhibao's presentation, attendees will have the opportunity to engage directly with Zhibao's executive team during a moderated Q&A session. This event provides investors with the opportunity to hear firsthand from Zhibao's leadership and gain a deeper understanding of the Company's trajectory in the rapidly evolving Insurtech landscape. NAI500 Group Investor Presentation (in Chinese) Date: Thursday, May 15, 2025 Time: 8:30 PM ET Location: Virtual Participant Information: For any Chinese speaking investors interested in attending this presentation, please reach out via the investor relations contact details listed at the bottom of this press release for more information. Zhibao Technology's NAI500 live virtual investor presentation, which will be conducted in Chinese, provides a unique opportunity for the Company to connect directly with NAI500's strong base of primarily Chinese investors. The presentation will be led by Zhibao's management team, who are native Chinese speakers, allowing them to communicate the Company's vision, growth strategy, and market potential with upmost clarity. About Zhibao Technology Inc. Zhibao Technology Inc. (NASDAQ: ZBAO) 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, utilize 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 the registration statement filed 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 statement 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: [email protected] 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: [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247912