Zhibao expands natural gas insurance services in China

SHANGHAI - Zhibao Technology Inc. (NASDAQ: ZBAO), a prominent InsurTech company in China with a market capitalization of $39.4 million and impressive gross profit margins of 40.7%, announced today its expansion into the natural gas insurance market. This move comes through its subsidiary, Sunshine Insurance Broker, in collaboration with YipinSmart, a subsidiary of China Gas. The partnership aims to provide digital insurance brokerage services to customers using natural gas for smart home solutions.

The Marketing Agreement, which commenced in December 2024, initially covered over 36 million people across five cities in the Zhejiang and Jiangsu provinces. The collaboration is part of Zhibao’s strategy to diversify its insurance offerings and establish a stronger presence within the natural gas sector. According to Zhibao’s CEO, Mr. Botao Ma, the partnership is set to contribute to the company’s growth trajectory and generate interest from the investment community. InvestingPro data shows strong revenue growth of 29.25% over the last twelve months, with analysts forecasting 62% growth in the coming year.

Zhibao’s venture into the natural gas insurance market follows its partnerships with Shenergy Group and Shenzhen Gas Group, key providers in Shanghai and Shenzhen. The company’s natural gas insurance solutions now extend to 18 cities and territories in China.

Founded in 2020 with the launch of China’s first digital insurance brokerage platform, Zhibao has developed over 40 digital insurance solutions using big data and AI technology. The company’s 2B2C business model focuses on embedding insurance services into various industries, continually enhancing its offerings based on customer data and market trends.

This expansion is part of Zhibao’s ongoing efforts to innovate and adapt to the evolving needs of the insurance market. While the stock currently trades near its 52-week low of $1.17, InvestingPro analysis suggests the company is slightly undervalued based on its Fair Value model. Discover 12 additional exclusive ProTips and comprehensive financial metrics for ZBAO by visiting InvestingPro. The information in this article is based on a press release statement from Zhibao Technology Inc.

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