Shanghai, China--(Newsfile Corp. - October 10, 2024) - 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 the successful hosting of the first Insurance Brokerage High Quality Development Summit in Suzhou, China on September 24^th, 2024.

Expose the Old and Adopt the New: The First Insurance Brokerage High-Quality Development Summit 

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This year's summit brought together more than 150 guests spanning the insurance industry, including insurance companies, brokers, agents, and innovative companies in the Insurtech sector. Zhibao Technology, China Pacific Insurance Company, and InsLab worked together to organize the event, with the goal of providing a forum for the discussion and advancement of the insurance brokerage industry in China.

The event was headlined by a wide range of industry dignitaries, including Mr. Wen Hui Chen, formerly the deputy chairman of the China Banking and Insurance Regulatory Committee (CBIRC) and deputy president of the National Council for Social Security Fund of the People's Republic of China. Mr. Chen spoke about the recent developments within China's insurance industry and encouraged industry executives to continue to focus on innovation, digitalization, and providing exemplary customer service, while continuing to promote the necessity for insurance coverage throughout Chinese society.

Mr. Wen Hui Chen, formerly the deputy chairman of the China Banking and Insurance Regulatory Committee (CBIRC) headlines the first Insurance Brokerage High Quality Development Summit.

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Mr. Chao Li, assistant to the General Manager of China Pacific Insurance Company (CPIC), one of China's leading property and casualty insurance companies, spoke of the potential for increased collaboration between insurers and brokers in China, including in the areas of risk reduction, customer service, and technological innovation. Other event speakers representing major insurance carriers included Mr. Zichang Shen, deputy general manager of AIA Life, and Mr. Bo Pang, assistant to the general manager of China Property & Casualty Reinsurance Company, China's largest reinsurance company.

Finally, Mr. Botao Ma, Founder, Chairman, and Chief Executive Officer, and Mr. Zhiguang, Honorary Chairman, spoke as representatives of Zhibao Technology, sharing the key role that insurance brokerage companies play in the industry, and the role of digital innovation, global vision, value creation, and professionalism.

Zhibao Technology founder, Chairman, and CEO Mr. Botao Ma delivers a speech at the first Insurance Brokerage High Quality Development Summit.

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"We are thrilled to have brought together leading figures from across the insurance industry for this summit," said Mr. Botao Ma. "The insurance brokerage industry is still in its early stages of development in China, but through similar industry events and collaboration, we believe that Chinese brokerage companies can continue to grow quickly and innovate," continued Mr. Ma. "While Chinese insurers are among some of the largest in the world, there has not yet been a leading Chinese insurance brokerage company, but we believe that Zhibao is poised to fill this void. We hope that Zhibao and the entire Chinese insurance industry can continue to develop quickly and stably in the future."

"I would like to thank our team and our partners at InsLab and CPIC for all of their hard work organizing this event" said Mr. Xiao Luo, general manager of Zhibao Technology's subsidiary, Sunshine Insurance Brokers. "We are very encouraged by the attendance of this first annual summit. We are especially thankful to our panel of distinguished speakers, and I look forward to seeing you all at next year's summit."

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 innovative 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 has partnered with over 1,000 business channels, through which it has already served the various insurance needs of more than 1 million end customers. 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.

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