KEY HIGHLIGHTS

• Strategic Acquisition: Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company") has signed a non-binding Letter of Intent (LOI) to acquire MeVX, a non-custodial multi-chain trading terminal specializing in on-chain assets and meme-asset trading scenarios.
• Feature-Rich On-Chain Platform: MeVX supports trading across major blockchains and connects to third-party decentralized trading infrastructure. It provides a consumer-facing tool suite featuring advanced options to users.
• Established User Base & Regional Reach: MeVX boasts approximately 2 million users, sticky deposits of $8 million, and localized operations in Vietnam serving as a foundation for broader Southeast Asian expansion.

New York, New York--(Newsfile Corp. - September 23, 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 that it has entered into a non-binding Letter of Intent (LOI) to acquire MeVX.

The LOI represents the preliminary understanding reached between Zhibao and MeVX with respect to the proposed transaction. The transaction will be subject to due diligence, audit and other customary procedures, compliance with applicable PRC and U.S. SEC legal and regulatory requirements, completion of Zhibao's De-Classification Restructuring, such that Zhibao ceases to be regarded as a domestic enterprise issuing and listing its securities outside China for the purposes of the CSRC Filing Measures and is no longer subject to the filing requirements thereunder (if necessary). Upon and subject to the satisfaction of the foregoing, the transaction shall be formalized by a definitive purchase agreement, which is currently expected to be executed within the next 12 months

About MeVX and On-Chain Infrastructure MeVX is a non-custodial, multi-chain trading terminal and analytics platform built specifically for on-chain crypto users. Unlike centralized exchanges, MeVX operates as a non-custodial platform connecting directly to underlying decentralized trading protocol infrastructure across major networks including Solana, Ethereum, BNB Chain, and Base.

To date, MeVX has accumulated approximately 2 million users and $8 million in sticky deposits. The platform has completed Vietnamese-language localization and active community operations in Vietnam, establishing an operational foundation for further expansion across Southeast Asia.

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. 2B2C ("to-business-to-customer") digital embedded insurance is the Company's innovative business model, which Zhibao pioneered in China. Zhibao launched the first digital insurance brokerage platform in China in 2020, powered by its proprietary PaaS ("Platform as a Service"). Zhibao has developed over 40 proprietary digital insurance solutions addressing different scenarios in a wide range of industries, including travel, sports, logistics, utilities, and e-commerce. For more information, please visit: ir.zhibao-tech.com.

Forward-Looking Statements Statements in this press release about future expectations, plans, and prospects, including the potential acquisition of MeVX, the timing and execution of definitive documentation, and expected growth opportunities, constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "continue," "expect," "intend," "may," "plan," "will," "target," and similar expressions are intended to identify forward-looking statements. The proposed transaction is non-binding and subject to significant conditions, including due diligence, regulatory approvals, corporate restructuring, and definitive agreements; as such, there can be no assurance that a transaction will be completed on the terms described or at all. The Company undertakes no obligation to update forward-looking statements except as required by law. Additional factors and risks are discussed in the "Risk Factors" section of the Company's SEC filings, available at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315641