Zhibao Technology Inc. (ZBAO) Latest Filing Signal

Based on earningsVibe SuperAnalyst™ synthesis of the latest 20-F, Zhibao Technology Inc.'s filing signal turned negative.

Zhibao Technology Inc. operates as a holding company that conducts its business in China through its PRC subsidiaries, primarily Zhibao China and Sunshine Insurance Brokers. The company is a digital insurance brokerage service provider, pioneering a 2B2C digital embedded insurance model. This model involves embedding customized insurance solutions into the customer engagement platforms of business entities (B channels) to reach their end customers. Zhibao China Group offers insurance brokerage services, which accounted for approximately 99% of its total revenues in fiscal year 2025, and managing general underwriting (MGU) services. The company has partnered with over 100 insurance companies and collaborates with more than 2,400 B channels, serving over 24 million end customers.

Revenue is primarily generated from insurance brokerage fees, which are commissions or fees received from insurance companies for brokerage services offered to end customers. MGU service fees are also a component of revenue, representing fees received from insurance companies for underwriting, claims, and risk control services.