Financial and Operational Summary for the Fiscal Year Ended June 30, 2024

• Revenues increased by approximately RMB 41.6 million (US$5.7 million), or 29% to approximately RMB 183.7 million (US$25.3 million) for the fiscal year ended June 30, 2024 from approximately RMB 142.1 million for the fiscal year ended June 30, 2023.
• Gross profit increased by approximately RMB 16.1 million (US$2.2 million), or 28% to approximately RMB 74.8 million (US$10.3 million) for the fiscal year ended June 30, 2024 from approximately RMB 58.6 million for the fiscal year ended June 30, 2023.
• Income from operations in the fiscal year ended June 30, 2024 of approximately RMB 10.1 million ($1.4 million), compared to a loss from operations of approximately RMB 44.5 million in the same period of 2023.
• The Company increased selling expenses by approximately 40%, and research & development (R&D) by approximately 56% compared to the same period in 2023. Management expects this investment to drive returns in the form of increased revenue in the coming quarters.
• Development of B Channels showed strong growth. As of June 30, 2024, Zhibao grew the number of B channels the Company works with from approximately 1,550 to nearly 1,800. B channels are distributed amongst diverse market segments and is a key component to growing our 2B2C embedded digital insurance model.
• As of June 30, 2024, the Company reached and served in excess of 15 million end customer users, which management expects will continue to drive revenue in the coming years.