Zhibao Adds 2,380 Bitcoin in $154.7 Million Treasury Pivot

Zhibao Technology Inc. (Nasdaq: ZBAO) is a China-focused InsurTech company that distributes digital insurance through a 2B2C embedded model, linking insurers with business channels and their customers. The proposed transaction matters because it would use Bitcoin, rather than cash, to fund a private investment in public equity, while coupling the capital injection with a sweeping board and management overhaul. If completed, the deal would turn Zhibao into a sizable corporate Bitcoin holder and shift operating control to the investor group.

On July 31, 2026, Zhibao signed a definitive agreement with 10 non-U.S. investors to issue 442 million units at $0.35 each, valuing the PIPE at $154.7 million. The investors would contribute 2,380 Bitcoin at a reference price of $65,000 per token. Closing is targeted within 12 business days. The group would nominate four of five directors and new chief executive and finance officers, subject to regulatory and Nasdaq approvals, sufficient authorized capital and transfer of the Bitcoin to Zhibao’s custody wallet. Zhibao must separately restore its share price to at least $1 by Jan. 6, 2027.

Zhibao Technology Inc. (Nasdaq: ZBAO), a Shanghai-based provider of digital insurance services, is proposing an unusual route into corporate Bitcoin reserves. Instead of raising cash and purchasing tokens in the market, the company would issue securities in exchange for Bitcoin through a private investment in public equity, or PIPE. The structure matters because it would place cryptocurrency directly on Zhibao’s balance sheet while handing effective control to the investor.

On July 22, 2026, Zhibao said it signed a non-binding term sheet with JOYERTECH AND INFORMATION OPC for about 3,500 Bitcoin, valued at roughly $220 million. The buyer would appoint a majority of directors after closing, while existing management would continue daily operations. Zhibao had received a Nasdaq deficiency notice on July 15 after its shares traded below $1. The stock jumped from $0.15 to $0.40 after the announcement before easing to about $0.24.