{"id":7428,"date":"2026-07-23T20:17:19","date_gmt":"2026-07-23T20:17:19","guid":{"rendered":"https:\/\/nile1.com\/en\/?p=7428"},"modified":"2026-07-23T20:17:26","modified_gmt":"2026-07-23T20:17:26","slug":"zhibao-technology-inks-220-million-bitcoin-deal-in-change-of-control-financing-agreement","status":"publish","type":"post","link":"https:\/\/nile1.com\/en\/2026\/07\/23\/zhibao-technology-inks-220-million-bitcoin-deal-in-change-of-control-financing-agreement\/","title":{"rendered":"Zhibao Technology Inks $220 Million Bitcoin Deal in Change-of-Control Financing Agreement"},"content":{"rendered":"

Shanghai-headquartered insurtech provider Zhibao Technology Inc. has entered into a non-binding term sheet for a private investment in public equity (PIPE) transaction valued at approximately $220 million, structured entirely around a payment of 3,500 Bitcoin<\/a>. If completed, the transaction will hand majority board control of the Nasdaq-listed company to buyer Joyertech and Information OPC.<\/p>\n

Under the proposed structure, Joyertech will acquire newly issued equity directly from Zhibao using cryptocurrency rather than traditional cash reserves. Upon closing, the investor is slated to appoint a majority of Zhibao\u2019s board of directors, effectively transferring corporate control while existing executives temporarily maintain operational oversight of the legacy insurance operations pending future restructuring or separation.<\/p>\n

News of the agreement triggered sharp volatility in Zhibao\u2019s stock (ticker: ZBAO). Shares spiked from $0.15 to $0.40 within hours before settling near $0.24, reflecting an overall gain of approximately 60 percent. The market movement comes shortly after Zhibao disclosed on July 15 that it had received a deficiency letter from Nasdaq<\/a> for failing to meet the exchange’s $1.00 minimum bid price requirement. The company has a 180-day grace period, extending through January 6, 2027, to regain compliance.<\/p>\n

Zhibao launched China’s first digital insurance brokerage platform in 2020 using a proprietary platform-as-a-service (PaaS) architecture designed for embedded 2B2C distribution. However, the proposed transaction signals a major shift in direction, adopting a direct asset-injection approach rather than raising cash to purchase digital assets on open markets\u2014a tactic previously popularized by corporate treasury adopters such as Strategy (formerly MicroStrategy).<\/p>\n

While over 150 publicly traded companies currently hold Bitcoin on their balance sheets, direct treasury conversions carry operational and market risks. A recent case involved U.K.-based Satsuma Technology<\/a>, which was forced to sell its Bitcoin holdings, return capital to shareholders, and wind down operations after market conditions shifted.<\/p>\n

Zhibao emphasized that the term sheet remains non-binding and contingent upon definitive agreements, thorough due diligence, custodial arrangements, audit verification, regulatory clearances, and formal Nasdaq approval.<\/p>\n

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