KEY HIGHLIGHTS

• Strategic Joint Venture: Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company") has partnered with Dongbaohui to establish a strategic joint venture (JV) focused on driving AI-native embedded long-term insurance solutions.
• Exemplary Leadership: The JV will be chaired by Mr. Min Lu, founder of Dongbaohui and former Executive Director and Chief Insurance Business Officer of Ping An Insurance Group. Mr. Yugang Wang, CTO of Zhibao Technology, will serve as General Manager.
• Unlocking the Second Growth Curve: By fusing Zhibao's extensive 2B2C embedded digital insurance base (3,100+ channels, 27+ million end-users) with Dongbaohui's life insurance AI ecosystem, the JV will activate latent long-term insurance demand across Zhibao's existing and expanded customer channels.

Shanghai, China--(Newsfile Corp. - August 12, 2026) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company"), a leading high-growth InsurTech company and pioneer of the 2B2C digital embedded insurance model in China, today announced the official signing a joint venture agreement with Dongbaohui to form a new joint venture company.

The joint venture will be led by Mr. Min Lu, founder of Dongbaohui and former Executive Director and Chief Insurance Business Officer of Ping An Insurance Group, who will serve as Chairman. Mr. Yugang Wang, Chief Technology Officer of Zhibao Technology, will serve as General Manager.

To date, Zhibao has established partnerships across more than 3,100 B-side business scenarios, delivering professional digital insurance brokerage services to over 27 million individual and small-, and medium-sized enterprise (SME) customers. The creation of this JV combines Zhibao's proven 2B2C embedded digital insurance capabilities with Dongbaohui's deep domain expertise and proprietary AI capabilities in life insurance. Together, the entities will pioneer AI-native embedded long-term insurance operations and utilize Zhibao's existing user base to create secondary conversion and upsell opportunities, establishing an AI-driven "second growth curve" for the Company.

Driving Dual-Engine Growth

The establishment of this joint venture marks a strategic milestone for Zhibao Technology. In addition to infusing Dongbaohui's life insurance AI capabilities into Zhibao's scenario infrastructure and completing its technological puzzle in long-term insurance, the JV officially designates "AI-Native Embedded Long-Term Insurance" as a core new strategic growth direction alongside Zhibao's foundational 2B2C embedded model.

By utilizing AI capabilities to activate the vast potential consumer base within its existing B-side partner channels, Zhibao is expanding its protection offerings from short-term to long-term insurance. This creates a dual-engine growth framework—where short-term and long-term insurance synergistically reinforce each other—further solidifying Zhibao's position as a leader in the digital InsurTech landscape.

Strategic Synergies & Executive Leadership

"Zhibao has always firmly believed that 'Without scenarios, there is no insurance,'" said Mr. Botao Ma, Founder, Chairman, and Chief Executive Officer of Zhibao. "Over the past few years, we have embedded insurance services deeply into more than 3,100 business scenarios—including inclusive finance, public utilities, travel, and mobility—providing targeted protection to over 27 million end-users. At the same time, AI is profoundly reshaping the insurance landscape. In 2025, we launched ZBOT, an AI sales assistant that empowers sales teams by intelligently identifying customer needs and customizing product plans. In early 2026, we launched ten new AI agents to further enhance our operational and service capabilities.

"Our partnership with Dongbaohui deepens this capability by fusing Zhibao's scenario base with Dongbaohui's life insurance AI capabilities to create a truly 'AI-native' long-term insurance model. Using AI, we will redefine the entire value chain—from demand recognition and product configuration to conversion services. This AI-native embedded long-term insurance model will serve both existing end-users and the massive broader user bases across our B-side channels, meeting their diverse long-term protection needs and driving Zhibao's second growth curve."

Mr. Min Lu, Founder of Dongbaohui and Chairman of the Joint Venture, added: "China's life insurance sector is at a critical transition from scale expansion to value creation, yet the massive demand for long-term protection across embedded scenarios remains largely underserved. From inception, Dongbaohui has been AI-driven, committed to building an 'AI + Insurance' intelligent operating system. Zhibao possesses industry-leading embedded scenario capabilities and vast B-side and C-side resources—the ideal soil for AI to generate real value.

"The joint venture will combine Dongbaohui's AI intelligent operating system and our 'AI Insurance Marketing Drone'—an end-to-end intelligent agent solution integrating personalized content, AI sales robots, and data tracking—with Zhibao's 2B2C embedded capabilities. By activating long-term insurance demand in an AI-native way through intelligent demand insights, dynamic product matching, and real-time service responses, long-term insurance will no longer rely on traditional push-selling. Instead, it will naturally integrate into users' daily consumption and lifestyle scenarios to achieve precise engagement and efficient conversion, making complex long-term protection simple, transparent, and accessible."

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 ("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, utilizes 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309317

Source: Zhibao Technology Inc.