Zhibao Technology's Subsidiary, Sunshine Insurance Brokers Announces Expansion in the Natural Gas Insurance Market in Conjunction with YipinSmart, a Subsidiary of China Gas
Shanghai, China--(Newsfile Corp. - March 14, 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 an expansion in the natural gas Insurance Market through its subsidiary, Sunshine Insurance Broker in conjunction with YipinSmart, a subsidiary of China Gas. Sunshine first entered into a Marketing Agreement with YipinSmart in December 2024, covering five cities across Zhejiang and Jiangsu provinces, with a combined population of more than 36 million people.
YipinSmart is a subsidiary of China Gas, a national provider of natural gas services in China, focusing on smart home solutions and services surrounding the safe use of natural gas to China Gas customers. This marketing agreement with YipinSmart kicks off Zhibao's collaboration with China Gas and provides Zhibao with a business channel to promote household and commercial property insurance to individual and corporate clients of urban gas companies.
"We are pleased to announce our expansion in the natural gas market with YipinSmart which will provide us with substantial growth trajectory as we strive to execute on our expansion strategy. Since the signing of the Marketing Agreement in late 2024, our teams have been hard at working together to lay the foundation to offer our digital insurance solutions to YipinSmart's customers. We are ready to start leveraging the wide network of channels provided by this collaboration to diversify our insurance brokerage footprint and enhance our presence in the natural gas industry. In addition, we are excited about our continued success in the gas business that provides dependable revenues, margin expansion, and cash flow streams. We expect our continued growth within the gas sector and the further enhancements we have made to our business model will drive tremendous interest in the investment community and promote considerable value to our shareholders," said Zhibao's Chief Executive Officer, Mr. Botao Ma.
This collaboration with YipinSmart, marks Zhibao's continued endeavor into the natural gas insurance industry following partnerships with Shenergy Group and Shenzhen Gas Group. These are the primary providers of natural gas to the cities of Shanghai and Shenzhen respectively, two megacities with a combined population of over 42 million people. Currently, our natural gas insurance solution covers 18 cities and territories in China.
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: 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
