Shanghai, China--(Newsfile Corp. - September 17, 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 wholly owned subsidiary Zhibao Health, has officially launched the "Ren Ren Kang Yue" product in collaboration with the People's Insurance Company of China ("PICC") on August 26, 2025.

This new product is a middle-market medical insurance product designed to cover the needs of urban residents, between the ages of 20-50 years old, within China. With a slogan of "mid-end prices, high-end quality," this product includes convenient services including direct billing, access to the VIP or International wards of public hospitals in China, and access to selected private providers, while remaining affordable to meet the needs of young professionals and families. Within the Chinese medical system, VIP and International wards provide access to premium medical services within the setting of the wider hospital, allowing patients access to high-end services while still retaining access to the doctors and resources of leading public hospitals.

This offering will be sold through three separate channels, including PICC's nationwide sales network, as well as through Zhibao's subsidiary, Sunshine Insurance Brokers, in addition to third-party channels and platforms.

The "Ren Ren Kang Yue" product extends PICC's own "Ren Ren An Kang" product line, a social medical insurance supplemental policy, and provides existing customers with an additional upgrade option during their renewal cycle. This product represents the first in a series of strategic cooperation products with PICC as both companies are committed to providing affordable, high-quality medical insurance products across China.

"I am pleased to announce a new insurance product line with our PICC partner that delivers healthcare services to a wider, more diverse population, and promotes the Company's mission of providing affordable healthcare coverage through various technology channels to China's middle class. We believe our strategic partnership with PICC underscores Zhibao's long-standing commitment to providing innovative insurance solutions and driving growth within the Chinese insurance market. We look forward to strengthening and deepening our relationship with one of China's largest P&C insurance companies across medical and other product lines in the future," said Mr. Botao Ma, Chief Executive Officer of Zhibao Technology.

The "Ren Ren Kang Yue" product went live on Monday, August 18, 2025, with the first policies being issued the same day. We believe this product is designed to provide high quality, yet affordable coverage with plans starting at RMB 840/USD $117 per year.

In December 2024, the Company announced a strategic partnership with PICC to launch a new generation of medical insurance products in China. This collaboration was expected to leverage the strengths of both partners to deliver a comprehensive and innovative medical insurance solution tailored to meet the needs of China's growing middle class.

We believe Zhibao's deep knowledge of the Chinese insurance market and its technological expertise are central to the development of this product, as well as to customer service and claims processing. We believe the Company's extensive medical network further ensures efficient, high-quality healthcare services for policyholders nationwide. 

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) 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.

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