Zhibao Expects Preliminary Annual Revenue of About $47.1 Million and Delays Financial Report
Key Facts
Zhibao Technology told the U.S. Securities and Exchange Commission on November 3, 2026, that it would not file its Form 20-F annual report for the fiscal year ended June 30, 2026, by the deadline because it needed more time to prepare its financial statements. In its notice of late filing, the company reported preliminary figures indicating revenue of about $47.1 million for the year, compared with about $40.8 million in the prior year. That represents growth within the range the company forecast in September, but does not confirm the annual report has been issued or the final results approved. The company also said revenue, cost and expense amounts remain under review by its independent auditor and accounting advisers. The figures may differ when the Form 20-F is filed.
The figures in the notice show preliminary cost of revenue rose to about $28.8 million in fiscal 2026 from $24.1 million in the prior year. Meanwhile, preliminary operating expenses fell to about $16.9 million from $24.6 million. This means operating expenses declined as revenue grew, while cost of revenue increased. The comparison shows different movements across cost items, without by itself establishing the year's operating profit. The figures remain part of the preliminary data that the company said are under review ahead of the annual report filing.
On September 30, the company had forecast revenue growth of between 10% and 20% for the fiscal year ended June 30, 2026, and said net loss was approaching breakeven. The subsequently reported preliminary revenue of about $47.1 million, versus $40.8 million, indicates annual growth consistent with that stated range. The notice filed with the SEC in November addresses the report delay and the requirements for completing the financial statements; it does not announce approval of final results. The comparison with the forecast therefore remains limited to preliminary revenue. The available information did not include a final net income figure for the fiscal year.
First-half fiscal-year results provide context for business activity before year-end. Revenue in the six months ended December 31, 2025, rose 41% to 206 million Chinese yuan, equivalent to $29.5 million, from 146.4 million yuan in the corresponding period of 2024. The company posted net income of 0.6 million yuan in that period, after a net loss of 0.6 million yuan in the first half of the previous fiscal year. These figures differ from the full-year results, but show that revenue growth and a return to net profit were evident in the half-year period. Final annual results remain subject to completion of the review and filing.
The company previously linked its business expansion to distribution channels and customer reach. Its B business channels exceeded 3,100 as of the reporting date in March 2026, compared with 2,000 in the same period a year earlier. It also said those channels provided access to more than 27 million end customers, versus 20 million in the comparable period. Chairman and Chief Executive Officer Butao Ma attributed revenue growth and the return to profitability to execution of the growth strategy, adding that investment in sales expenses to expand channels and customers was beginning to pay off. The growth drivers cited by the company included diversifying business channels, faster adoption of the 2B2C embedded digital insurance model, strategic investments and targeted acquisitions.
Chief Financial Officer Yuanwen Xia said the company plans to continue growing revenue through targeted and strategic investments in sales teams. He added that expanding the business should help improve gross and net income in the coming years. The statements present management's plans as a future direction, not financial results achieved for the year ended in June. In trading, ZBAO closed at $0.2108 on November 12, 2026. The trading record cited here did not include the session's high and low prices.