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ZBAO

Zhibao Technology Inc. Class A Ordinary Shares

ZBAO

Zhibao Technology Inc. Class A Ordinary Shares • NASDAQ
$0.94 ▼ -3.29% (-0.03)
Market Cap $29.29 M
52w High $4.27
52w Low $0.78
Dividend Yield 0%
P/E 10.44
Volume 136.48K
Outstanding Shares 31.16M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $20.391M ▲ $2.655M ▼ $-211.151K ▼ -1.036% ▼ $-0.007 ▼ $729.738K ▲
Q1-2025 $10.429M ▼ $2.761M ▲ $-45.927K ▼ -0.44% ▼ $-0.002 ▼ $274.28K ▼
Q4-2024 $13.778M ▲ $1.803M ▼ $3.021M ▲ 21.926% ▼ $0.096 ▲ $2.933M ▲
Q3-2024 $6.884M ▼ $1.815M ▼ $1.509M ▲ 21.926% ▲ $0.049 ▲ $1.295M ▲
Q2-2024 $11.641M $2.699M $-1.181M -10.143% $-0.038 $-1.077M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $18.346M ▲ $43.152M ▼ $33.072M ▼ $10.08M ▼
Q1-2025 $4.006M ▲ $44.884M ▼ $34.514M ▼ $10.37M ▼
Q4-2024 $2.401M ▲ $208.788M ▲ $144.797M ▲ $63.991M ▲
Q3-2024 $554.304K ▼ $28.916M ▼ $20.054M ▼ $8.862M ▼
Q2-2024 $6.881M $234.184M $218.824M $15.359M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-211.151K ▼ $10.336M ▲ $-609.47K ▼ $3.208M ▲ $12.684M ▲ $0 ▼
Q1-2025 $-45.927K ▼ $5.287M ▲ $-311.716K ▼ $1.641M ▼ $0 ▲ $5.287M ▲
Q4-2024 $3.021M ▲ $-12.356M ▼ $-45.531K ▼ $3.002M ▲ $-9.775M ▼ $-12.394M ▼
Q3-2024 $1.509M ▲ $-6.192M ▼ $-22.694K ▲ $1.498M ▲ $0 ▼ $-6.211M ▼
Q2-2024 $-602.017K $11.828M $-36.558K $1.281M $13.391M $5.994M

Five-Year Company Overview

Income Statement

Income Statement Zhibao is still a very small, early‑stage business, but its top line is growing quickly off a low base. The company has shifted from small losses to a modest profit, which is encouraging, especially given its investment in technology and partnerships. Profitability metrics are moving in the right direction, but earnings per share have swung around a lot, which is typical for a young, fast‑growing company with limited history. Overall, the income statement shows promising growth and improving margins, but with a short track record and meaningful uncertainty about how stable these profits are.

Balance Sheet

Balance Sheet The balance sheet has expanded rapidly, reflecting the company’s scaling up after a period of being very small. Equity is now clearly positive, which supports the idea of a healthier financial base. Some debt has been taken on, but it does not yet look heavy relative to the overall size of the company. That said, reported cash figures are not detailed here, so it is hard to judge liquidity and short‑term resilience. In summary, the balance sheet has strengthened, but investors must rely on limited historical depth and incomplete visibility into working capital and cash reserves.

Cash Flow

Cash Flow The cash‑flow data provided are effectively blank, which means there is no clear view of how much cash the business is actually generating or burning. For a young technology‑driven insurer, this is a key gap because reported profits can look better than underlying cash generation if customer acquisition, platform development, or partner costs are significant. Without operating and free cash‑flow detail, it is difficult to assess sustainability of growth, the need for future funding, or the cushion against shocks. Cash‑flow transparency is therefore a major area to watch.

Competitive Edge

Competitive Edge Zhibao operates in a highly competitive Chinese insurance and fintech environment but has carved out a differentiated niche. Its to‑business‑to‑customer embedded model and broad network of business partners give it a distribution advantage that is not easy to copy quickly. The nationwide brokerage licenses and partnerships with large insurers and reinsurers further deepen its ecosystem and raise barriers to entry. However, it still competes against much larger, better‑capitalized insurance companies and digital platforms, and it must continuously prove that its model delivers better economics and customer outcomes. Regulatory risk, competitive imitation, and execution across many verticals all remain important uncertainties.

Innovation and R&D

Innovation and R&D Innovation is the core of Zhibao’s strategy. It has built a proprietary platform that lets partner businesses plug in tailored insurance products directly into their own services, and it has already created dozens of niche solutions across travel, logistics, sports, pets, medical, and drones. The company is leaning heavily into data and artificial intelligence, including its ZBOT agent, to improve sales productivity and product design. The move into reinsurance via its Labuan entity could enhance product flexibility and margins over time. The main risks are execution complexity, the cost of continuing to build and maintain advanced technology, and the challenge of turning a broad innovation pipeline into consistently profitable, scalable products.

Summary

Overall, Zhibao looks like an early‑stage, high‑growth insurtech platform with a distinctive embedded distribution model and a strong emphasis on technology and partnerships. Financially, it has moved from loss‑making to modest profitability and has strengthened its balance sheet, but its absolute scale is still very small and the lack of clear cash‑flow disclosure limits visibility into underlying health. Strategically, its first‑mover advantage in 2B2C embedded insurance, broad partner network, and AI‑driven platform offer meaningful upside potential, but they come with notable execution, regulatory, and competitive risks. The recent filing delay and Nasdaq deficiency letter underscore that this is a developing story, where governance, transparency, and sustained profitable growth will be key factors to monitor over the coming years.

NEWS

November 21, 2025 · 9:00 PM UTC

Zhibao Technology Announces Receipt of Nasdaq Deficiency Letter

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November 18, 2025 · 5:30 AM UTC

Zhibao Technology Issues Update on Delay in Filing 20-F Annual Report

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November 14, 2025 · 9:00 AM UTC

Zhibao's Subsidiary Receives 'Good' Financial Strength and Long-Term Issuer Credit Ratings from AM Best

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November 3, 2025 · 8:00 AM UTC

Zhibao Technology Inc. Announces Postponement of FY2025 Financial Results and Earnings Conference Call

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October 23, 2025 · 8:00 AM UTC

Zhibao Technology Announces Fiscal Year 2025 Earnings Call and Issues 60-80% Revenue Growth Guidance

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