Zhibao revenue jumps 16% as profit returns
Key points
- Zhibao Technology (NASDAQ:ZBAO) reported fiscal 2026 revenue of RMB319.9 million, up 16% year over year, and returned to operating profitability with RMB9.2 million in operating income.
- Net loss narrowed 95.3% to RMB2.9 million, although negative working capital and accumulated losses had raised substantial going-concern concerns at June 30, 2026.
- The company completed a US$154.7 million private placement paid in Bitcoin, agreed to acquire NEXSYS for US$1 plus up to US$7.5 million in contingent shares, and completed a 1-for-50 reverse stock split.
Zhibao Technology (NASDAQ:ZBAO) reported fiscal 2026 revenue of RMB319.9 million, up 16% year over year, while operating income reached RMB9.2 million and net loss narrowed 95.3% to RMB2.9 million.
The company returned to operating profitability from an operating loss of RMB53.5 million in the previous fiscal year, reflecting lower operating expenses and higher revenue.
However, negative working capital and accumulated losses at June 30, 2026, raised substantial doubt about Zhibao's ability to continue as a going concern before subsequent financing and corporate transactions.
In August 2026, Zhibao completed a US$154.7 million private placement paid through the transfer of 2,380 Bitcoins, while also issuing investment units comprising ordinary shares and warrants, with part of the share delivery subject to shareholder approval.
In September, Zhibao signed an agreement to acquire Malaysian company NEXSYS for US$1 in cash, with up to US$7.5 million in additional consideration payable through shares if specified profit targets are achieved.
Meanwhile, Zhibao's 1-for-50 reverse stock split took effect on October 12, 2026, while its November 3 SEC filing notified investors of a delayed annual report and disclosed preliminary revenue of approximately US$47.1 million, which remained under review.
Frequently asked questions (FAQ)
Editorial note: The US$154.7 million private placement was paid in Bitcoin, not cash, and its market value can fluctuate. The NEXSYS acquisition remains subject to completion conditions, with additional consideration dependent on performance. The fiscal 2026 financial figures should be treated as subject to final reporting verification because the SEC records reviewed show a late-filing notification rather than a completed 2026 Form 20-F.
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