Zhibao Technology Inc. (ZBAO) announced that its subsidiary, Zhibao Technology Co., Ltd., has entered into a share purchase agreement to acquire 51% of Zhonglian Jinan Insurance Brokers Co., Ltd. for RMB25.5 million, approximately $3.5 million.
The total valuation of Zhonglian Jinan was set at RMB50 million for 100% equity interest. The purchase price will be paid in four installments.
Zhibao Technology Co., Ltd. also holds a right of first refusal to acquire an additional 34% equity interest by the end of 2027. This acquisition positions Zhibao for accelerated growth and market leadership.
CEO Botao Ma expressed excitement about the partnership, anticipating long-term value creation for both companies and their shareholders.
