As filed with the Securities and Exchange Commission on September 26, 2025. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 To FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Zhibao Technology Inc. (Exact name of Registrant as specified in its charter) Not Applicable Floor 3, Building 6, Wuxing Road, Lane 727 Pudong New Area, Shanghai 201204 Tel: +86 (21) -5089-6502 (Address, including zip code, and telephone number, including area code, of Registrant ...

Core Insights - Zhibao Technology's subsidiary, Sunshine Insurance Brokers, has entered a strategic partnership with F+More to tap into China's low-altitude economy insurance market, projected to reach RMB 3.5 trillion by 2035 [2][6][10] - The partnership aims to leverage Sunshine's digital insurance brokerage capabilities and F+More's expertise in the low-altitude economy to create customized insurance products for the drone sector [4][10] Company Overview - Zhibao Technology Inc. is a leading InsurTech company in China, focusing on digital insurance brokerage services and has pioneered a B2B2C digital embedded insurance model [11] - Sunshine Insurance Brokers has launched digital insurance brokerage services for F+More's clients, aiming to cover all provinces in China [3][4] Market Opportunity - The low-altitude economy, which includes commercial drones and urban air mobility, is expected to grow significantly, with the low-altitude insurance market projected to reach RMB 8-10 billion by 2035 [6][7] - The low-altitude airspace economy in China exceeded RMB 500 billion in 2023, indicating substantial growth potential for specialized insurance providers [6] Strategic Collaboration - The partnership integrates real-time flight data with risk assessment mechanisms, enabling rapid policy customization and automated claims processing [4][5] - Both companies aim to establish competitive advantages in the low-altitude insurance landscape through joint development of insurance products [4][5] Industry Developments - Recent advancements, such as the successful public road test flight of a flying car, signal a shift towards commercialization in the low-altitude economy [8] - China is positioned to benefit from these trends due to its strategic advantages in drone technology and logistics [8][9]