Industry News | Yuanbao Digital Technology, which plans to go public in the United States, has been notified by the Securities Regulatory Commission for filing

In order to thoroughly implement the spirit of the Central Financial Work Conference and effectively integrate technology finance, green finance, inclusive finance

Recently, the International Cooperation Department of the China Securities Regulatory Commission issued a notice on the registration of Yuanbao Inc.'s overseas issuance and listing. The notice shows that it plans to issue no more than 64.5 million ordinary shares and list them on the NASDAQ or New York Stock Exchange in the United States.

In fact, since 2023, insurance intermediary companies have been experiencing a wave of overseas listings. Before Yuanbao Shuke, several insurance intermediary companies such as Pan China Holdings Group, Huize, Tianruixiang, Shuidi, and Cheche Technology had successfully landed on NASDAQ.

Since the beginning of this year, two insurance intermediary companies have also knocked on the door of the US capital market:

On March 28, 2024, U-BX Technology Ltd (referred to as "Youjia Insurance"), the substantial controlling shareholder of Youjia Insurance (Beijing) Technology Co., Ltd., successfully went public on NASDAQ in the United States, raising a total of $10 million.

On April 2, 2024, digital insurance brokerage company Zhibao Technology Co., Ltd. (referred to as Zhibao Technology) officially went public on NASDAQ in the United States. The company issued 1.5 million ordinary shares at a price of $4 per share, raising a total of $6 million.

Yuanbao Shuke (Beijing) Technology Co., Ltd. was established in September 2019. It is an Internet insurance technology platform, headquartered in Beijing. Founded by former NetEase executive Fang Rui, it officially began operations in 2020. The company has been established for one year with four rounds of financing, with a financing scale of over 1 billion yuan. As of May 2021, Yuanbao has announced that it has accumulated millions of paying users, covering more than 90% of domestic areas.

In June 2020, Yuanbao obtained a national insurance brokerage license through acquisition - Yuanbao Insurance Brokerage (Beijing) Co., Ltd;

In May 2021, obtained a Series C financing of 1 billion RMB;

In December 2021, we obtained another national insurance agency license by acquiring Guangdong Pinuo Insurance Agency, a wholly-owned subsidiary of Vipshop. Later renamed as: Shouxin Insurance Agency (Guangdong) Co., Ltd.

According to the official website, Yuanbao is based on big data and AI technology to accurately match insurance products for users, and provides one-stop protection services from health management, insurance consulting, intelligent underwriting, convenient insurance, to assisting in claims settlement. Less than a year after its launch, Yuanbao has accumulated millions of paying users, covering more than 90% of China's regions, and ranked first in the field of Internet health insurance.

The main product types of Yuanbao include but are not limited to: million dollar medical insurance, major illness insurance, comprehensive accident insurance, etc.