Latest news with #Chengdu-based
Yahoo
27-05-2025
- Business
- Yahoo
Zhibao Technology's Subsidiary, Sunshine Insurance Brokers, Expands into Low-Altitude Economy Insurance Market Through Strategic Cooperation with F+More
Strategic partnership positions Company to capitalize on China's fast-growing low-altitude insurance market opportunity projected at RMB 3.5 trillion by 2035 Shanghai, China--(Newsfile Corp. - May 27, 2025) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company"), a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities in China, today announced that its wholly owned subsidiary, Sunshine Insurance Brokers ("Sunshine"), has officially launched a strategic partnership with Sichuan Fanmo Technology Co., Ltd. ("F+More"), an innovative Chengdu-based insurance solution provider for China's rapidly expanding low-altitude economy. This partnership marks Zhibao's official entry into China's fast-expanding drone and low-altitude economy insurance market. We believe the strategic partnership positions Company to capitalize on China's fast-growing low-altitude insurance market opportunity in the next decade. Value Creation and Synergies in China's Drone Insurance Market Following the signing of the cooperation agreement in February 2025, the strategic partnership became operational in April 2025; Sunshine has commenced delivering digital insurance brokerage services to F+More's initial client base. These services are [beginning to be delivered] across China through the joint distribution networks of both companies, with an goal to cover all provinces and regions in China. This broad geographic reach positions Sunshine to capture market share in the emerging low-altitude insurance segment-a relatively untapped market opportunity with substantial growth potential. Through this strategic collaboration, Sunshine Insurance contributes its core competencies in digital insurance brokerage, proprietary Platform-as-a-Service (PaaS) technology infrastructure, and robust nationwide sales network. The integration of real-time flight data with dynamic risk assessment and alert mechanisms enables rapid online policy customization and distribution, as well as automated, event-driven claims processing. Through joint development and distribution of customized drone insurance products with F+More, we believe Sunshine is positioned to establish competitive advantages and drive innovation in the low-altitude insurance landscape across China and potentially in international markets. We believe this technological integration creates differentiated service capabilities that management believes will enable the partnership to capture meaningful market share as the drone insurance sector scales. Substantial Low-Altitude Economy Market Opportunities The low-altitude economy, which includes commercial drones, urban air mobility, and drone logistics, is emerging as a strategic growth frontier with significant long-term potential. According to the Civil Aviation Administration of China (CAAC), China's low-altitude airspace economy exceeded RMB 500 billion in 2023 and is projected to reach RMB 3.5 trillion by 2035. Within this expanding ecosystem, the Swiss Re Institute projects the low-altitude insurance market could reach RMB 8-10 billion by 2035, highlighting the substantial growth potential for specialized insurance providers with appropriate capabilities and market positioning. Recent industry developments have accelerated commercialization momentum in the global low-altitude economy. The successful completion of the world's first public road test flight of a flying car by California-based Alef Aeronautics in February 2025 signals a critical inflection point, with the sector transitioning from conceptual development to commercial deployment. China maintains strategic advantages in drones, low-altitude logistics, and flight control systems, with leading companies such as XPeng HT Aero and EHang positioned to benefit from accelerating commercialization trends. We believe these market developments create a favorable environment for insurance providers with specialized capabilities and appropriate market positioning to pursue revenue opportunities as such insurance sector matures. "We believe this partnership reflects our strategic vision to identify and capitalize on high-growth sectors such as the low-altitude economy," said Botao Ma, CEO of Zhibao Technology Inc. "F-More's deep expertise and extensive customer base, combined with Sunshine's digital insurance platform and strong marketing capabilities, create a powerful working synergy. We're confident this collaboration will accelerate access to tailored drone insurance solutions across China and set a new standard for innovation in the sector." About Zhibao Technology Inc. Zhibao Technology Inc. (NASDAQ: ZBAO) 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, utilize 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: About F+More 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 years of accumulated massive data and algorithmic advantages to deeply 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 over twenty risk scenarios, including inspection, security, surveying and mapping, and has established after-sales cooperation with over 500 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: 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 the registration statement filed 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 statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at Investor Relations Contact Zhibao Technology Relations OfficeEmail: ir@ Skyline Corporate Communications Group, LLCScott Powell, PresidentAvenues Tower1177 Avenue of the Americas, 5th floorNew York, NY 10036Office: (646) 893-5835Email: info@ To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Japan Times
09-04-2025
- Politics
- Japan Times
Western intelligence agencies warn spyware threat targeting Taiwan
Western intelligence agencies are warning of an increasing threat from Beijing's security services using malicious mobile phone applications to surveil Taiwanese independence activists, Tibetan rights advocates and others opposed by the Chinese government. An advisory issued late on Tuesday warned of "the growing threat" posed by malicious surveillance software deployed by a Chengdu-based contractor reported to have ties to China's Ministry of Public Security. The advisory was signed by cybersecurity agencies in Britain, the U.S., Canada, New Zealand, Australia and Germany. Those most at risk include people connected to Taiwanese independence, Tibetan rights, Uyghur Muslims and other minorities in the Xinjiang Uyghur Autonomous Region, democracy advocates (including in Hong Kong) and the Falun Gong spiritual movement, according to Britain's National Cyber Security Centre in the advisory. The warning comes amid increasing tensions surrounding Taiwan, including April 1 Chinese military drills around the island and a March 28 visit to the Philippines by U.S. Defense Secretary Pete Hegseth in which he reaffirmed Washington's commitment to deterring Chinese aggression in the region. The Chengdu-based contractor, Sichuan Dianke Network Security Technology, was linked to the deployment of a pair of distinct malware packages. They were tracked as "BADBAZAAR' and "MOONSHINE' and used to ferret sensitive information from mobile devices while also giving operators remote access to devices' cameras, microphones and location data, the advisory said. The warning is for nongovernmental organizations, journalists, businesses and other individuals who advocate for or represent the groups, the NCSC said in the advisory. "The indiscriminate way this spyware is spread online also means there is a risk that infections could spread beyond intended victims," it said. Liu Pengyu, spokesperson for the Chinese Embassy in Washington, said that Beijing "firmly opposes the smear attacks against China without any factual basis," and that the tracing of cyberattacks is complex. "We hope that relevant parties will adopt a professional and responsible attitude when characterizing cyber incidents, basing their conclusions on sufficient evidence rather than unfounded speculation and accusations." The warnings build on previous cybersecurity industry reporting that detailed malware and infrastructure have been used by the contractor going back several years. The advisory cited a Jan. 29 report published by Intelligence Online, a news organization focused on international intelligence operations, linking the malware to the contractor. The report said the contractor has provided services to China's Ministry of Public Security. The FBI and National Security Agency in the U.S. as well as intelligence agencies in Australia, Canada, Germany and New Zealand participated in the advisories, according to the NCSC. The FBI declined to comment and the NSA did not respond to requests for comment.
Yahoo
08-04-2025
- Politics
- Yahoo
Western intelligence agencies warn spyware threat targeting Taiwan, Tibetan rights advocates
By AJ Vicens DETROIT (Reuters) -Western intelligence agencies warned on Tuesday of an increasing threat from Beijing's security services to use malicious mobile phone applications to surveil Taiwanese independence activists, Tibetan rights advocates and others opposed by the Chinese government. An advisory issued late on Tuesday warned of "the growing threat" posed by malicious surveillance software deployed by a Chengdu-based contractor reported to have ties to China's Ministry of Public Security. The advisory was signed by cybersecurity agencies in Britain, the U.S., Canada, New Zealand, Australia and Germany. Those most at risk include people connected to Taiwanese independence, Tibetan rights, Uyghur Muslims and other minorities in the Xinjiang Uyghur Autonomous Region, democracy advocates (including in Hong Kong) and the Falun Gong spiritual movement, according to Britain's National Cyber Security Centre in the advisory. The warning comes amid increasing tensions surrounding Taiwan, including April 1 Chinese military drills around the island and a March 28 visit to the Philippines by U.S. Defense Secretary Pete Hegseth in which he reaffirmed Washington's commitment to deterring Chinese aggression in the region. The Chengdu-based contractor, Sichuan Dianke Network Security Technology Co., Ltd., was linked to the deployment of a pair of distinct malware packages. They were tracked as 'BADBAZAAR' and 'MOONSHINE' and used to ferret sensitive information from mobile devices while also giving operators remote access to devices' cameras, microphones and location data, the advisory said. The warning is for non-governmental organizations, journalists, businesses and other individuals who advocate for or represent the groups, the NCSC said in the advisory. 'The indiscriminate way this spyware is spread online also means there is a risk that infections could spread beyond intended victims," it said. Liu Pengyu, spokesperson for the Chinese Embassy in Washington, told Reuters that China "firmly opposes the smear attacks against China without any factual basis," and that the tracing of cyberattacks is complex. "We hope that relevant parties will adopt a professional and responsible attitude when characterizing cyber incidents, basing their conclusions on sufficient evidence rather than unfounded speculation and accusations." The warnings build on previous cybersecurity industry reporting that detailed malware and infrastructure have been used by the contractor going back several years. The advisory cited a January 29 report published by Intelligence Online, a news organization focused on international intelligence operations, linking the malware to the contractor. The report said the contractor has provided services to China's Ministry of Public Security. The FBI, NSA and intelligence agencies in Australia, Canada, Germany and New Zealand participated in the advisories, according to the NCSC. The FBI declined to comment and the NSA did not respond to requests for comment.
Reuters
08-04-2025
- Politics
- Reuters
Western intelligence agencies warn spyware threat targeting Taiwan, Tibetan rights advocates
DETROIT, April 8 (Reuters) - Western intelligence agencies warned on Tuesday of an increasing threat from Beijing's security services to use malicious mobile phone applications to surveil Taiwanese independence activists, Tibetan rights advocates and others opposed by the Chinese government. An advisory issued late on Tuesday warned of "the growing threat" posed by malicious surveillance software deployed by a Chengdu-based contractor reported to have ties to China's Ministry of Public Security. The advisory was signed by cybersecurity agencies in Britain, the U.S., Canada, New Zealand, Australia and Germany. Those most at risk include people connected to Taiwanese independence, Tibetan rights, Uyghur Muslims and other minorities in the Xinjiang Uyghur Autonomous Region, democracy advocates (including in Hong Kong) and the Falun Gong spiritual movement, according to Britain's National Cyber Security Centre in the advisory. The warning comes amid increasing tensions surrounding Taiwan, including April 1 Chinese military drills around the island and a March 28 visit to the Philippines by U.S. Defense Secretary Pete Hegseth in which he reaffirmed Washington's commitment to deterring Chinese aggression in the region. The contractor, Sichuan Dianke Network Security Technology Co., Ltd., was linked to the deployment of a pair of distinct malware packages. They were tracked as 'BADBAZAAR' and 'MOONSHINE' and used to ferret sensitive information from mobile devices while also giving operators remote access to devices' cameras, microphones and location data, the advisory said. The warning is for non-governmental organisations, journalists, businesses and other individuals who advocate for or represent the groups, the NCSC said in the advisory. 'The indiscriminate way this spyware is spread online also means there is a risk that infections could spread beyond intended victims," it said. The Chinese embassy did not immediately respond to a request for comment. The warnings build on previous cybersecurity industry reporting that detailed malware and infrastructure used by the contractor going back several years. The advisory cited a January 29 report, opens new tab published by Intelligence Online, a news organization focused on international intelligence operations, linking the malware to the contractor. The report said the contractor has provided services to China's Ministry of Public Security. The FBI, NSA, and intelligence agencies in Australia, Canada, Germany and New Zealand participated in the advisories, according to the NCSC.
