Zhibao Technology Inc. Appoints Xiaowei Le as Chief Growth Officer

Shanghai, China–(Newsfile Corp. – June 27, 2024) – Zhibao Technology Inc. (NASDAQ: ZBAO) (“Zhibao” 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 appointment of Xiaowei Le as its Chief Growth Officer, effective immediately.

Xiaowei Le

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With an illustrious career with more than 25 years’ experience in the insurance industry, Mr. Le brings a wealth of expertise to Zhibao as it enters a new phase of growth, expansion and innovation. The insurance sector is still growing rapidly, and the Company has pioneered and lead the 2B2C (2-Business-To Consumer) embedded digital insurance market in China. Mr. Le is tasked with executing the Company’s targets to ensure that Zhibao maintains and widens its position of market leadership. Mr. Le will oversee the planning and execution of the Company’s growth model, both for revenue and profitability. The growth model is Zhibao’s proprietary strategy to leverage every part of our 2B2C embedded digital insurance model in a coordinated and choreographed drive to reach our overall targets.

Additionally, Mr. Le has extensive experience leading the sales teams of major Chinese insurers, including Alltrust Insurance and Bohai Insurance. He brings a deep understanding of local markets and distribution, market knowledge, and established industry relationships.

“Mr. Le is an experienced leader with proven expertise in business development and market expansion,” said Botao Ma, Founder, Chairman, Chief Executive Officer, Zhibao Techonology. “As we embark on this journey of expansion and innovation, Xiaowei’s experience with geographic expansion will play an important role in driving our growth initiatives and continue to execute our strategic priorities. This new addition also allows us to round out our executive management team with the skills and knowledge that will be essential as we grow our customer base and diversify our revenue mix.”

“I am honored to be assuming this new role at such an exciting time in Zhibao Technology,” said Xiaowei Le, newly appointed Chief Growth Officer. “The opportunity to shape the future of growth and innovation within the InsurTech sector is incredibly inspiring. I look forward to collaborating with this dedicated team, our partners and stakeholders to drive meaningful impact for our customers and propel Zhibao to the next level.”

Mr. Le earned a Bachelor of Economics from Sun Yat-sen University.

For additional information on our key management leaders, please visit: https://ir.zhibao-tech.com/about-zhibao/management

About Zhibao Technology Inc.

Zhibao Technology Inc. (“Zhibao” or the “Company”) 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 more than 40 proprietary 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 China Group acquire and analyze customer data, utilize big data and artificial intelligence technology to continually iterate and enhance its digital insurance solutions. This iterative process, in addition to continually improving its digital insurance solutions, will keep the Company abreast of the new trends and customer preferences in the market.

For more information, please visit the Company’s website at www.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.

Contact Information:

For Media and Investor Relations
Zhibao Technology Inc.
Investor Relations Office
ir@zhibao-tech.com

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