Recent Updates — ZBAO

Zhibao Technology Inc. has executed a one-for-fifty reverse stock split of its Class A ordinary shares following shareholder approval and the satisfaction of conditions related to the closing bid price falling below US$0.12 per share. The split became effective on October 9, 2026, with adjusted trading beginning on October 12, 2026. Every fifty existing shares are converted into one new share, increasing the par value from $0.0001 to $0.005 and proportionally adjusting outstanding convertible notes, options, warrants, and equity plans. Fractional shares will be rounded up to the nearest whole share. Zhibao Technology Inc. is a leading InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities.

Zhibao Technology Inc. held an Extraordinary General Meeting on September 29, 2026, where shareholders approved four key proposals. The company increased its authorized share capital from US$50,000 to US$200,000 by creating 1.5 billion new Class A ordinary shares. Shareholders also adopted an amended and restated memorandum and articles of association granting veto rights over Board decisions to Botao Ma. Additionally, the company approved a conditional share consolidation mechanism: if the Nasdaq closing bid price falls below US$0.12 per share, 50 existing shares will consolidate into one effective on the 15th trading day after such trigger event. Separately, Chief Financial Officer Jinyang Guo resigned on September 26, 2026, and Chief Operating Officer Xiaowei Le resigned on September 15, 2026; CEO Jinmei Guo Hellstroem will temporarily assume CFO duties. Zhibao Technology Inc. operates in the technology sector.

Zhibao Technology Inc. entered into a definitive agreement on September 28, 2026, to acquire 100% of NEXSYS TECH SDN. BHD., a newly incorporated Malaysian entity intended to develop an AI computing infrastructure business. The transaction consideration includes $1 in cash at closing plus up to $7.5 million in contingent earn-out consideration payable solely through Class A ordinary shares if NEXSYS achieves cumulative audited net profit targets of $3.015 million over a 27-month evaluation term ending December 31, 2028. The planned business involves high-end GPU servers and computing power hosting for Chinese AI companies, with preliminary cooperation arrangements covering approximately 26 megawatts of rack power capacity in East Malaysia and Indonesia. Zhibao Technology Inc. is a leading InsurTech company providing digital insurance brokerage services through its proprietary Platform as a Service.

Zhibao Technology Inc. issued a third tranche of senior secured convertible notes on September 17, 2026, with an original principal amount of $1,000,000 purchased for $900,000. This closing followed amendments to the Securities Purchase Agreement that removed floor price provisions and cash true-up payments from existing notes and allowed multiple closings under the remaining availability. The new note includes a share cap of 35,941,170 Class A ordinary shares and requires 12 equal monthly installment payments. Zhibao Technology Inc. operates in the technology sector.

Zhibao Technology Inc. filed a proxy statement for an extraordinary general meeting on September 29, 2026, proposing to increase authorized share capital from US$50,000 (500 million shares) to US$200,000 (2 billion shares). The filing also proposes a conditional reverse stock split consolidating every 50 Class A and Class B ordinary shares into one share. This consolidation is triggered only if the closing bid price falls below US$0.12 per share on any trading day. Upon effectiveness, authorized capital would be amended to US$200,000 divided into 40 million consolidated shares with a par value of US$0.005 each. Fractional shares resulting from the consolidation will be rounded up to the next whole number rather than paid out in cash. The company operates in the technology sector.

On August 17, 2026, the board of directors accepted the resignations of CEO Botao Ma (who remains a director), CFO Guangtong Ren, and directors Yiyun Dai, Jun Ma, and Han Tang. The company appointed Jinmei Guo Hellstroem as CEO and Chair of the Board, Jinyang Gu as CFO, and independent directors Truong Van Tien Anh, Zongmei Huang, and Dixon Perez Dai. Concurrently, Joyer Investment Limited purchased 44,200,000 units for $15,470,000 in a private placement closed on the same date. The company operates in the technology sector.