Zhibao Technology
Embedding customized insurance in business channels through a China-based digital brokerage platform.
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Profile
Connects insurers with business channels in China, embedding customized insurance in end-customer journeys and earning mainly insurer-paid brokerage fees. Operates through PRC subsidiaries within a Cayman Islands holding-company structure, with revenue concentrated in digital insurance brokerage.
Connects insurers with business partners in China through a digital 2B2C embedded-insurance model. Its proprietary platform supports customized policy solutions, channel-system integration, distribution, and customer support across travel, outdoor activities, logistics, utilities, and e-commerce.
Earns most revenue from insurance brokerage fees paid by insurers after end users buy and pay for policies; MGU service fees provide a smaller line. Operations are conducted through PRC subsidiaries, while the Nasdaq-listed Cayman holding company has no material operations.
Relies chiefly on digital brokerage transaction volume and insurer relationships. All long-lived assets and substantially all revenue are in the PRC, while founder Botao Ma holds significant voting control through Class B shares.
Company facts
Key statistics
Year to date −81.1% · Average volume (30d) 42.5M
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Mar 31, 2026Q2 FY26 | $0.39 | −$0.13 | −133.4% | $29.2M | $202.2M | +593.3% | −2.62% |
| Jun 30, 2025 | — | −$0.26 | — | — | $18.0M | — | −10.90% |
| Dec 31, 2024Q1 FY25 | — | −$0.01 | — | — | $20.4M | — | +1.91% |
| Sep 30, 2024Q4 FY24 | $0.02 | $0.00 | −107.3% | $11.8M | $10.4M | −11.4% | +1.36% |
Financial highlights
| 12 quarters | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $14.9M | $10.9M | $22.1M | $19.2M | $15.3M | $30.1M | |
| Gross profit | $5.9M | $3.2M | $6.2M | $9.7M | $5.3M | $10.2M | |
| Operating income | $2.8M | $283.0K | $901.3K | −$8.6M | $344.4K | $497.1K | |
| Net income | $3.3M | −$48.0K | −$97.5K | −$9.0M | −$322.2K | −$632.4K | |
| Diluted EPS | $0.10 | −$0.00 | −$0.00 | −$0.28 | −$0.01 | −$0.02 | |
| Gross margin | 39.6% | 29.1% | 28.1% | 50.5% | 34.8% | 34.0% | |
| Operating margin | 18.6% | 2.6% | 4.1% | -44.9% | 2.2% | 1.7% |
Fiscal years (4-quarter sums)FY22 $24.3M · FY23 $25.2M · FY24 $34.8M
Balance sheet, Dec 31, 2025Cash & short-term investments $585.3K · Total debt $861.2K · Total assets $6.0M · Shareholders' equity $423.0K
Dividends
No dividends on record.
Ownership
Shares outstanding 32.67M · Float —
Float — provider float is below the insider stake.
The provider's float is smaller than the insider stake it should exclude, so it is not shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Botao Ma | 16.82M | 49.40% | 13G | Mar 27, 2026 |
| Beijing Koala Kunlu Internet Industry Investment Fund (Limited Partnership) | 3.66M | 22.20% | 13G | Dec 1, 2025 |
| Ningbo Pangu Chuangfu Hefu Equity Investment Partnership (Limited Partnership) | 1.81M | 10.50% | 13G | Jul 2, 2026 |
| Beijing 1898 Youchuang Investment Center (Limited Partnership) | 1.11M | 6.80% | 13G | Oct 10, 2025 |
| Xiao Luo · officer: Chief Marketing Officer | 562.2K | 1.72% | Form 4 | Aug 3, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Yuanbao (ADR)
Digital insurance distribution contests carriers and online policyholders.
- Waterdrop (ADR)
Online life and health brokerage contests digital policy distribution.
- Huize (ADR)
Life, health, and P&C intermediation overlaps in digital policy sales.
- Cheche Group
Insurance-transaction SaaS and brokerage overlap in embedded channel workflows.
- AIFU
Commercial brokerage overlaps at the insurer interface.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Zhibao Technology | $0.1699 | −0.12% | $5.6M | — | — | 0.1 | — |
| Yuanbao (ADR) | $13.49 | −0.15% | $103.6M | 0.3 | — | 0.1 | +43.1% |
| Waterdrop (ADR) | $1.02 | +2.74% | $359.0M | 0.9 | — | 0.5 | +73.9% |
| Huize (ADR) | $1.64 | +0.61% | $842.6K | 1.4 | — | 0.0 | +91.5% |
| Cheche Group | $15.33 | −0.78% | $36.3M | — | — | 0.1 | +78.0% |
| AIFU | $22.00 | +2.85% | $126.5M | — | 0.7 | 1.5 | — |
| Median | 0.9 | 0.7 | 0.1 | +76.0% |








