Zhibao Technology Launches Drone Insurance Solution for Individual Operators, Strengthening Position in China's Low-Altitude Economy

KEY HIGHLIGHTS

• Strategic Milestone: Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company") and Sichuan Fanmo Technology Co., Ltd. ("F+More") have partnered to offer a specialized insurance product directly to individual drone pilots for the first time.
• Nationally Strategic Industry: Currently an RMB 500 billion industry, the low-altitude economy is expected to be named an emerging pillar industry in China's 15^th Five-Year Plan and grow at a meaningful pace with demonstrated government support.
• 2B2C Expansion: Leveraging Zhibao's proprietary Platform-as-a-Service (PaaS), the partnership is expected to transition F+More's established 2B market expertise in drone servicing into a scalable 2C solution.
• Digital Innovation: Features a mobile-friendly, fully online purchasing process, allowing consumers to secure coverage instantly from their mobile devices.
• Competitive Global Pricing: Comprehensive annual coverage for the full value of a drone starts at approximately CNY 395 (USD 57) per year.

Shanghai, China--(Newsfile Corp. - March 11, 2026) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company"), a leading high-growth InsurTech company and pioneer of the 2B2C digital embedded insurance model in China, today announced the launch of a new online insurance product designed to cover individual (C-end) drone users. Developed in collaboration with Sichuan Fanmo Technology Co., Ltd. ("F+More"), a leading drone service provider in China, this launch represents a strategic breakthrough for Zhibao in the rapidly expanding low-altitude economy.

Tapping into a National Strategic Industry

With the low-altitude economy slated to be introduced as a key emerging pillar industry in China's latest five-year plan, covering from 2026 to 2030, alongside semiconductors and intelligent robots, the industry is expected to develop at a sustained pace supported by government initiatives. According to the Civil Aviation Administration of China ("CAAC"), the low altitude economy is expected to grow from CNY 500 billion (USD 72 billion) in 2023 to CNY 3.5 trillion (USD 507 billion) in 2035.

CAAC data indicates that there are already more than 2 million drones registered in China. As the industry continues to grow, the demand for drone-specific insurance is expected to increase alongside the increased number and utilization of drones.

Aligning with Digital-Native Consumption Preferences

Zhibao believes that purchasing insurance online is surging in China, particularly among tech-savvy demographics. A report co-authored by the Research Center for China Insurance and Pension Finance at Tsinghua University's PBC School of Finance indicates that 84% of Chinese Gen-Z consumers (born after 1995) prefer purchasing insurance online. In the drone sector, meeting this preference for digital speed and accessibility is critical.

Zhibao's 2B2C model is expected to enable F+More to provide drone users with highly relevant insurance products quickly, efficiently, and at a competitive cost.

The insurance product developed through this collaboration has been intentionally designed to match customer needs. The product provides comprehensive coverage, including drone damage protection, third-party liability coverage, and operator liability coverage. Coverage limits are customizable based on individual customer requirements.

By providing simple and easily understandable coverage options, we believe Zhibao's implementation streamlines the purchasing process and simplifies decision making for drone operators.

Coverage starts at just CNY 395 (USD 57) per year, providing protection for the full value of the drone in case of loss or damage.

Fast, Digital-first Policy Management

The new insurance module is fully integrated into Zhibao's PaaS, offering a streamlined user experience:

• Instant Activation: Qualified customers can complete applications online, with policies becoming effective as quickly as 15 minutes after payment.
• Simple Claims: Claims can be filed digitally through a simplified four-step process.
• Customizable Coverage: Plan coverages are modular and can be tailored to specific user needs.

Management Commentary

"The successful launch of our C-end drone insurance product is a pivotal step in our strategic positioning within the low-altitude economy," said Mr. Xiaowei Le, Chief Operating Officer of Zhibao. "By enriching our product offerings and generating new growth opportunities, we are strengthening our core competitiveness while creating long term value for our shareholders."

Mr. Botao Ma, Chief Executive Officer of Zhibao, added, "I am pleased to see our relationship with F+More deepen with this new push into individual insurance products. We are leveraging our strengths in the individual and small- and medium-enterprise (SME) segments to help F+More provide more comprehensive and scalable services. The scalability and flexibility of Zhibao's 2B2C business model and PaaS is well suited to serving individual and SME customers across diverse industries and sectors. I hope this collaboration can serve as a roadmap for our other partners."

About Zhibao Technology Inc.

Zhibao Technology Inc. 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 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 acquires and analyzes customer data, utilizes big data and AI technology to continually iterate and enhance its digital insurance solutions. This iterative process, in addition to continually improving its digital insurance solutions, will keep it abreast of the new trends and customer preferences in the market. For more information, please visit: ir.zhibao-tech.com.

About Sichuan Fanmo Technology Co., Ltd

Sichuan Fanmo Technology Co., Ltd (F+More), founded in 2015, F+More is steadily advancing with a development strategy of "specialization, standardization, and globalization," committed to leveraging its accumulated data and algorithmic abilities to address industry pain points, aiming to become a service-leading, objective, fair, and data- & algorithm-driven professional third-party service provider.

F+More has provided coverage for multiple risk scenarios, including inspection, security, surveying and mapping, and has established after-sales cooperation with multiple drone manufacturers.

Its three major products include F+More Feibao, F+More Excellent+, and F+More Cloud E. Among them, F+More Feibao is a drone insurance product that has been continuously operated for over a decade. F+More Excellent+ offers one-stop after-sales solutions for drone insurance to insurance institutions, while F+More Cloud E provides insurance institutions with a precise pricing engine for drone insurance. For more information, please visit: www.fmore.net.

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 our annual reports on Form 20-F (as amended) and registration statements on Form F-1 (as amended) that have been filed or will be filed from time to time 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 statements 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.

Investor Relations Contact

Zhibao Technology Inc.
Investor Relations
Office Email: ir@zhibao-tech.com

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