Exhibit 99.1

UNAUDITED PRO FORMA COMBINED FINANCIAL INFORMATION

On July 2, 2025, Zhibao Technology Co., Ltd. (“Zhibao China”), a limited liability company incorporated under the laws of the People’s Republic of China (the “PRC” or “China”), one of the PRC subsidiary of Zhibao Technology Inc. (the “Company”), a Cayman Islands exempted company, entered into a share purchase agreement (the “SPA”) with Xuegeng Zhao and Qin’er Ye, the shareholders of Zhonglian Jinan Insurance Brokers Co., Ltd. (“Zhonglian Jinan”) and Zhonglian Jinan, to acquire an aggregate of 51% of the equity interest in Zhonglian Jinan, including 23% of the equity interest from Xuegeng Zhao and 28% of the equity interest from Qin’er Ye, for a total purchase price of RMB25.5 million (approximately US$3.5 million), subject to adjustment as provided in the SPA (the “Acquisition”).

The unaudited pro forma condensed combined balance sheet combines the Company's and Zhonglian Jinan’s balance sheets as of December 31, 2024, giving pro forma effect to the above transaction as if it had occurred on December 31, 2024. The unaudited pro forma condensed combined statement of operations combines the Company's and Zhonglian Jinan’s operations for the year ended June 30, 2024 and for the six months ended December 31, 2024, giving effect to the transaction as described on a pro forma basis as if the transaction had been completed on July 1, 2023.

The unaudited pro forma condensed combined financial information has been prepared in accordance with Article 11 of Regulation S-X. These pro forma financial statements should be read in conjunction with the audited historical financial statements of the Company and the related financial statements for Zhonglian Jinan, which are included elsewhere in this current report on Form 6-K.

The unaudited pro forma condensed combined financial information is presented for illustrative purposes only and is not necessarily indicative of the operating results or financial position that would have occurred had the acquisition of Zhonglian Jinan by the Company occurred on the indicated date, or during the operational periods presented, nor is it necessarily indicative of the future financial position or operating results.

A preliminary allocation of the purchase price has been made to major categories of assets and liabilities in the accompanying pro forma financial statements based on available information. The actual allocation of the purchase price and the resulting effect on income from operations may differ significantly from the pro forma amounts included herein. These pro forma adjustments represent the Company’s preliminary determination of purchase accounting adjustments and are based upon available information and certain assumptions that the Company believes to be reasonable. Consequently, the amounts reflected in the pro forma financial statements are subject to change, and the final amounts may differ substantially. 

ZHIBAO TECHNOLOGY INC.

UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEETS

AS OF DECEMBER 31, 2024

(Amounts in Renminbi (“RMB”) and U.S. dollars (“US$”), except for share and per share data)

	Zhibao Technology Inc.			Zhonglian Jinan Insurance Brokerage Co., Ltd.			Adjustments			Note-3 Proforma	Combined Pro Forma
	RMB			RMB			RMB			Adjustments	RMB
ASSETS
Current Assets
Cash and cash equivalents		28,113,972			14,717,018			-				42,830,990
Restricted cash		105,800,332			2,687,118			-				108,487,450
Accounts receivable, net		135,313,361			23,413,972			(24,133,784	)(b)			134,593,549
Due from related parties		17,131,396			2,087,323			-				19,218,719
Prepaid expenses and other current assets, net		11,171,611			6,419,278			-				17,590,889
Total Current Assets		297,530,672			49,324,709			-24,133,784				322,721,597
Prepayments for equity investments		4,375,000			-			-				4,375,000
Property and equipment, net		188,131			6,173,990			-				6,362,121
Intangible assets, net		1,914,935			-			-				1,914,935
Operating lease right of use assets		5,885,455			267,051			-				6,152,506
Goodwill		-			-			30,494,903	(a)			30,494,903
Restricted cash, noncurrent		5,000,000			5,000,000			-				10,000,000
Deferred tax assets		43,192			-			-				43,192
Other non-current assets		41,004			1,022			-				42,026
Total Non-Current Assets		17,447,717			11,442,063			30,494,903				59,384,683
Total Assets		314,978,389			60,766,772			6,361,119				382,106,280
LIABILITIES, AND SHAREHOLDERS’ EQUITY
Current Liabilities
Short-term borrowings		33,800,000			-			-				33,800,000
Accounts payable		55,643,496			47,738,519			(24,133,784	)(b)			79,248,231
Insurance premium payable		111,448,220			-			-				111,448,220
Income tax payable		42,994			126,988			-				169,982
Due to related parties		8,561,749			-			-				8,561,749
Operating lease liabilities, current		2,537,123			168,834			-				2,705,957
Accrued expenses and other liabilities		15,278,258			19,916,500			25,500,000	(a)			60,694,758
Convertible notes		6,452,341			-			-				6,452,341
Warrant liabilities		1,239,814			-			-				1,239,814
Derivative liabilities		14,598			-			-				14,598
Subscription fees advanced from one investor		-			-			-				-
Total Current Liabilities		235,018,593			67,950,841			1,366,216				304,335,650
Operating lease liabilities, noncurrent		3,427,331			71,217			-				3,498,548
Deferred tax liabilities		3,761,000			2,538,641			-				6,299,641
Total Non-current Liabilities		7,188,331			2,609,858			-				9,798,189
Total Liabilities		242,206,924			70,560,699			1,366,216				314,133,839
Shareholders’ Equity
Class A ordinary shares (par value $0.0001 per share, 450,000,000 shares authorized, 14,707,073 and 15,231,387 shares issued and outstanding as of June 30, 2024 and December 31, 2024, respectively)		10,304			-			-				10,304
Class B ordinary shares (par value $0.0001 per share, 50,000,000 shares authorized, 16,816,692 and 16,816,692 shares issued and outstanding as of June 30, 2024 and December 31, 2024, respectively)		12,204			-			-				12,204
Paid-in capital					50,000,000			(50,000,000	)(a)			-
Additional paid-in capital		205,827,823			-			-				205,827,823
Accumulated deficit		(132,485,849	)		(59,793,927	)		59,793,927	(a)			(132,485,849	)
Accumulated other comprehensive income (loss)		(593,017	)		-			-				(593,017	)
Non-controlling interest		-			-			(4,799,024	)(a)			(4,799,024	)
Total Shareholders’ Equity		72,771,465			(9,793,927	)		4,994,903				67,972,441
Total Liabilities and Shareholders’ Equity		314,978,389			60,766,772			6,361,119				382,106,280

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ZHIBAO TECHNOLOGY INC.

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED DECEMBER 31, 2024

(Amounts in Renminbi (“RMB”) and U.S. dollars (“US$”), except for share and per share data)

	Zhibao Technology Inc.			Zhonglian Jinan Insurance Brokerage Co., Ltd.			Adjustments			Combined Pro Forma
	RMB			RMB			RMB			RMB
Revenues		146,371,285			91,924,671			(29,784,453	)(b)		208,511,503
Cost of revenues		(103,811,688	)		(80,896,153	)		29,784,453	(b)		(154,923,388	)
Gross profit		42,559,597			11,028,518			-			53,588,115
Operating expenses
Selling and marketing expenses		(18,564,666	)		(19,092,457	)		-			(37,657,123	)
General and administrative expenses		(14,282,228	)		(15,051,486	)		-			(29,333,714	)
Research and development expenses		(5,908,365	)		-						(5,908,365	)
Total operating expenses		(38,755,259	)		(34,143,943	)		-			(72,899,202	)
Income (loss) from operations		3,804,338			(23,115,425	)		-			(19,311,087	)
Other (expense) income
Interest income, net		(1,605,974	)		11,142			-			(1,594,832	)
Other income, net		533,414			151,705			-			685,119
Gain on fair value change of warrant liabilities		1,430,663			-			-			1,430,663
Gain on fair value change of derivative liabilities		722,631			-			-			722,631
Loss on settlement of convertible notes		(4,438,430	)		-			-			(4,438,430	)
Total other expense, net		(3,357,696	)		162,847			-			(3,194,849	)
Income (Loss) Before Income Taxes		446,642			(22,952,578	)		-			(22,505,936	)
Income tax expenses		(1,091,247	)		(111,957	)		-			(1,203,204	)
Net Loss		(644,605	)		(23,064,535	)		-			(23,709,140	)
Other comprehensive income (loss)
Foreign currency translation adjustments		(364,145	)		-			-			(364,145	)
Comprehensive income (loss)		(1,008,750	)		(23,064,535	)		-			(24,073,285	)
Weighted average number of ordinary share outstanding
Basic		31,587,188			N/A			-			31,587,188
Diluted		31,587,188			N/A			-			31,587,188
Earnings (loss) per share
Basic		(0.02	)		N/A			-			(0.75	)
Diluted		(0.02	)		N/A			-			(0.75	)

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ZHIBAO TECHNOLOGY INC.

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME

FOR THE YEAR ENDED JUNE 30, 2024

(Amounts in Renminbi (“RMB”) and U.S. dollars (“US$”), except for share and per share data)

	Zhibao Technology Inc.			Zhonglian Jinan Insurance Brokerage Co., Ltd.			Adjustments		Combined Pro Forma
	RMB			RMB			RMB		RMB
Revenues		183,669,326			191,705,510			-		375,374,836
Cost of revenues		(108,908,547	)		(143,433,635	)		-		(252,342,182	)
Gross profit		74,760,779			48,271,875			-		123,032,654
Operating expenses
Selling and marketing expenses		(31,606,719	)		(15,706,108	)		-		(47,312,827	)
General and administrative expenses		(17,954,289	)		(32,973,455	)		-		(50,927,744	)
Research and development expenses		(15,092,620	)		-			-		(15,092,620	)
Total operating expenses		(64,653,628	)		(48,679,563	)		-		(113,333,191	)
Income (loss) from operations		10,107,151			(407,688	)		-		9,699,463
Other (expense) income
Interest income, net		(848,575	)		85,193			-		(763,382	)
Other income, net		507,609			310,316			-		817,925
Gain on extinguishment of liability		8,996,341			-			-		8,996,341
Gain on fair value change of warrant liabilities		-			-			-		-
Gain on fair value change of derivative liabilities		-			-			-		-
Loss on settlement of convertible notes		-			-			-		-
Total other expense, net		8,655,375			395,509			-		9,050,884
Income (Loss) Before Income Taxes		18,762,526			(12,179	)		-		18,750,347
Income tax expenses		(5,510,773	)		(1,223,385	)		-		(6,734,158	)
Net Income (Loss)		13,251,753			(1,235,564	)		-		12,016,189
Other comprehensive income (loss)
Foreign currency translation adjustments		(233,990	)		-			-		(233,990	)
Comprehensive income (loss)		13,017,763			(1,235,564	)		-		11,782,199
Weighted average number of ordinary share outstanding
Basic		30,367,806			N/A			-		30,367,806
Diluted		30,367,806			N/A			-		30,367,806
Earnings (loss) per share
Basic		0.44			N/A			-		0.40
Diluted		0.44			N/A			-		0.40

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ZHIBAO TECHNOLOGY INC.

Notes to Unaudited Pro Forma Condensed Combined Financial Statements

1. Basis of Presentation

The unaudited pro forma condensed combined financial statements were prepared using the acquisition method of accounting under the provision of ASC 805 on the basis of the Company as the accounting acquirer of Zhonglian Jinan. Under the acquisition method, the acquisition date fair value of the gross consideration paid by the Company to close the Acquisition was allocated to the assets acquired and liabilities assumed based on their estimated fair value. Management of the Company has made significant estimates and assumptions in determining the preliminary allocation of the gross consideration transferred in the unaudited pro forma condensed combined financial information. As the unaudited pro forma condensed combined financial information has been prepared based on these preliminary estimates, the final amount recorded may differ materially from the information presented.

The pro forma adjustments reflecting the consummation of the acquisition are based on certain currently available information and certain assumptions and methodologies that the Company believes are reasonable under the circumstances. The unaudited condensed pro forma adjustments may be revised as additional information becomes available and alternative valuation methodologies are evaluated. Therefore, it is likely that the actual adjustments will differ from the pro forma adjustments and it is possible the differences may be material. The Company believes that its assumptions and methodologies provided a reasonable basis for presenting all the significant effects of the acquisition contemplated based on information available to management at the time and that the pro forma adjustments give appropriate effect to those assumptions and are properly applied in the unaudited pro forma condensed combined financial information.

The unaudited pro forma condensed combined balance sheet combines the Company’s and Zhonglian Jinan’s balance sheets as of December 31, 2024 as if the acquisition had occurred on December 31, 2024. The unaudited pro forma condensed combined statement of operations combines the Company’s and Zhonglian Jinan’s operations for the year ended June 30, 2024 and for the six months ended December 31, 2024, giving effect to the transaction as described on a pro forma basis as if the acquisition had been completed on July 1, 2023. These unaudited pro forma combined condensed financial statements are based upon the historical financial statements of the Company and Zhonglian Jinan after considering the effect of the adjustments described in these footnotes.

The accompanying unaudited pro forma combined financial statements do not give effect to any cost savings, revenue synergies or restructuring costs which may result from the integration of the Company and Zhonglian Jinan operations. Further, actual results may be different from these unaudited pro forma combined financial statements. They should be read in conjunction with the historical financial statements and notes thereto of the Company and Zhonglian Jinan.

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2. Estimated Preliminary Purchase Price Allocation

The preliminary consideration and allocation of the purchase price to the fair value of Zhonglian Jinan’s assets acquired and liabilities assumed as if the acquisition date was December 31, 2024 is presented below:

	RMB
Consideration per the share purchase agreement		25,500,000
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents		14,717,018
Restricted cash		2,687,118
Accounts receivable, net		23,413,972
Due from related parties		2,087,323
Prepaid expenses and other current assets, net		6,419,278
Property and equipment, net		6,173,990
Operating lease right of use assets		267,051
Restricted cash, noncurrent		5,000,000
Other non-current assets		1,022
Accounts payable		(47,738,519	)
Income tax payable		(126,988	)
Due to related parties		-
Operating lease liabilities, current		(168,834	)
Accrued expenses and other liabilities		(19,916,500	)
Operating lease liabilities, noncurrent		(71,217	)
Deferred tax liabilities		(2,538,641	)
Total identifiable net assets (liabilities)		(9,793,927	)
Fair Value allocated to 49% non-controlling interest		(4,799,024	)
Goodwill		30,494,903

Goodwill represents the excess of the purchase price over the amounts assigned to the fair value of the assets acquired and the liabilities assumed of Zhonglian Jinan.

The Company has not completed the detailed valuation necessary to estimate the fair value of the assets acquired and the liabilities assumed and, accordingly, the adjustments to record the assets acquired and liabilities assumed at fair value reflect the best estimate of the Company based on the information currently available and are subject to change once additional analyses are completed.

As the goodwill calculation above assumed full payment of the purchase price, the final amount recorded may differ materially from the information presented.

3. Proforma Adjustments

The unaudited pro forma condensed combined financial information has been prepared to illustrate the effect of the acquisition and has been prepared for informational purposed only.

The historical financial statements have been adjusted in the unaudited pro forma condensed combined financial information to give pro forma effect to events that are directly attributable to the acquisition, factually supportable, and with respect to the statements of operations, expected to have a continuing impact on the results of the Company.

The pro forma adjustments are comprised of the following elements:

(a) Represents the Company’s accrual for the consideration payable as a result of the acquisition and the elimination of Zhonglian Jinan’s historical equity balances.

(b) Elimination for transactions between the Company and Zhonglian Jinan.

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