Zhibao Technology Inc. Class A Ordinary Shares (ZBAO) 6-K 28 Jun 24 Report of Foreign Private Issuer Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Dec. 31, 2023
Document Information Line Items
Entity Registrant Name	Zhibao Technology Inc.
Document Type	6-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001966750
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity File Number	001-42000

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets		Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 CNY (¥)
Current Assets
Cash and cash equivalents		¥ 5,536,235	$ 779,762	¥ 9,873,678
Restricted cash		103,954,158	14,641,637	4,999,974
Accounts receivable, net		83,367,397	11,742,052	77,750,249
Deferred offering cost		6,009,101	846,364	4,223,769
Prepaid expenses and other current assets, net		11,549,777	1,626,752	8,332,330
Total Current Assets		219,775,639	30,954,750	113,706,012
Property and equipment, net		2,516	354	2,516
Intangible assets, net		1,596,592	224,875	2,183,677
Operating lease right of use assets		3,340,565	470,509	4,327,705
Restricted cash, noncurrent		5,000,000	704,235	5,000,000
Deferred tax assets		3,007,328	423,573	1,604,757
Other non-current assets		1,461,106	205,792	1,211,500
Total Non-Current Assets		14,408,107	2,029,338	14,330,155
Total Assets		234,183,746	32,984,088	128,036,167
Current Liabilities
Short-term borrowings		26,814,237	3,776,706	27,267,797
Accounts payable		44,671,491	6,291,848	31,436,527
Insurance premium payable		107,381,104	15,124,312	3,553,377
Income tax payable		28,146	3,964	28,343
Operating lease liabilities, current		1,985,778	279,691	2,009,034
Accrued expenses and other liabilities		9,819,860	1,383,097	14,714,898
Subscription fees advanced from shareholders		15,000,000	2,112,706	15,000,000
Total Current Liabilities		217,490,816	30,632,939	94,300,176
Operating lease liabilities, noncurrent		1,333,518	187,822	2,273,154
Deferred tax liabilities				7,698
Total Liabilities		218,824,334	30,820,761	96,581,028
Commitments and contingencies
Shareholders’ Equity
Additional paid-in capital		168,973,780	23,799,418	168,973,780
Accumulated deficit		(153,638,997)	(21,639,599)	(137,544,783)
Accumulated other comprehensive income		3,605	508	5,118
Total Shareholders’ Equity		15,359,412	2,163,327	31,455,139
Total Liabilities and Shareholders’ Equity		234,183,746	32,984,088	128,036,167
Class A ordinary shares
Shareholders’ Equity
Ordinary Shares	[1]	8,820	1,318	8,820
Class B ordinary shares
Shareholders’ Equity
Ordinary Shares	[1]	12,204	1,682	12,204
Related Party
Current Assets
Due from related parties		9,358,971	1,318,183	8,526,012
Current Liabilities
Due to related parties		¥ 11,790,200	$ 1,660,615	¥ 290,200
[1]The shares and per share information are presented on a retroactive basis to reflect the reorganization and reclassification of Class A and Class B ordinary shares.

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - ¥ / shares		Dec. 31, 2023	Jun. 30, 2023
Class A ordinary shares
Ordinary shares, par value (in Dollars per share and Yuan Renminbi per share)	[1]	¥ 0.0001	¥ 0.0001
Ordinary shares, authorized	[1]	450,000,000	450,000,000
Ordinary shares, issued	[1]	13,183,308	13,183,308
Ordinary shares, outstanding	[1]	13,183,308	13,183,308
Class B ordinary shares
Ordinary shares, par value (in Dollars per share and Yuan Renminbi per share)	[1]	¥ 0.0001	¥ 0.0001
Ordinary shares, authorized	[1]	50,000,000	50,000,000
Ordinary shares, issued	[1]	16,816,692	16,816,692
Ordinary shares, outstanding	[1]	16,816,692	16,816,692
[1]The shares and per share information are presented on a retroactive basis to reflect the reorganization and reclassification of Class A and Class B ordinary shares.

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)		6 Months Ended
		Dec. 31, 2023 CNY (¥) ¥ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥) ¥ / shares shares
Income Statement [Abstract]
Revenues		¥ 84,254,221	$ 11,866,959	¥ 91,799,665
Cost of revenues		(54,192,050)	(7,632,791)	(58,724,886)
Gross profit		30,062,171	4,234,168	33,074,779
Operating expenses
Selling and marketing expenses		(20,993,374)	(2,956,855)	(12,672,484)
General and administrative expenses		(10,153,441)	(1,430,082)	(9,907,082)
Research and development expenses		(7,294,313)	(1,027,382)	(4,001,576)
Total operating expenses		(38,441,128)	(5,414,319)	(26,581,142)
Income (loss) from operations		(8,378,957)	(1,180,151)	6,493,637
Interest expense, net		(431,796)	(60,817)	(549,856)
Other income, net		127,399	17,944	295,648
Income (Loss) Before Income Taxes		(8,683,354)	(1,223,024)	6,239,429
Income tax benefits		137,354	19,346	2,672,359
Net Income (Loss)		(8,546,000)	(1,203,678)	8,911,788
Other comprehensive loss
Foreign currency translation adjustments		(1,513)	(213)
Comprehensive income (loss)		¥ (8,547,513)	$ (1,203,891)	¥ 8,911,788
Weighted average number of ordinary share outstanding
Basic* (in Shares)	[1]	30,000,000	30,000,000	26,388,878
Diluted* (in Shares)	[1]	30,000,000	30,000,000	26,388,878
Earnings (loss) per share
Basic* (in Dollars per share and Yuan Renminbi per share) | (per share)	[1]	¥ (0.28)	$ (0.04)	¥ 0.34
Diluted* (in Dollars per share and Yuan Renminbi per share) | (per share)	[1]	¥ (0.28)	$ (0.04)	¥ 0.34
[1]The shares and per share information are presented on a retroactive basis to reflect the reorganization and reclassification of Class A and Class B ordinary shares.

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Changes in Shareholders’ (Deficits) Equity		Class A Ordinary Shares CNY (¥) shares		Class B Ordinary Shares CNY (¥) shares		Additional Paid-in Capital CNY (¥)	Retained earnings (Accumulated Deficits) CNY (¥)	Accumulated Other Comprehensive Income CNY (¥)	CNY (¥)	USD ($)
Balance at Jun. 30, 2022		¥ 8,820	[1]	¥ 8,817	[1]	¥ 113,111,157	¥ (94,446,003)		¥ 18,682,791
Balance (in Shares) at Jun. 30, 2022 | shares	[1]	13,183,308		13,155,570
Contribution from shareholders			[1]		[1]	600,000			600,000
Share based compensation			[1]		[1]	531,100			531,100
Net income (loss)			[1]		[1]		8,911,788		8,911,788
Foreign exchange adjustments
Balance at Dec. 31, 2022		¥ 8,820	[1]	¥ 8,817	[1]	114,242,257	(85,534,215)		28,725,679
Balance (in Shares) at Dec. 31, 2022 | shares	[1]	13,183,308		13,155,570
Balance at Jun. 30, 2023		¥ 8,820	[1]	¥ 12,204	[1]	168,973,780	(137,544,783)	5,118	31,455,139
Balance (in Shares) at Jun. 30, 2023 | shares	[1]	13,183,308		16,816,692
Adjustments due to the adoption of ASC 326			[1]		[1]		(7,548,214)		(7,548,214)
Net income (loss)			[1]		[1]		(8,546,000)		(8,546,000)	$ (1,203,678)
Foreign exchange adjustments			[1]		[1]			(1,513)	(1,513)	(213)
Balance at Dec. 31, 2023		¥ 8,820	[1]	¥ 12,204	[1]	¥ 168,973,780	¥ (153,638,997)	¥ 3,605	¥ 15,359,412	$ 2,163,327
Balance (in Shares) at Dec. 31, 2023 | shares	[1]	13,183,308		16,816,692
[1]The shares and per share information are presented on a retroactive basis to reflect the reorganization and reclassification of Class A and Class B ordinary shares.

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows	6 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 CNY (¥)
Cash Flows From Operating Activities:
Net cash provided by operating activities	¥ 85,607,856	$ 12,057,615	¥ 205,695,961
Cash Flows From Investing Activities
Loans made to related parties			(15,500)
Repayment of loans from related parties			15,983,000
Purchase of intangible assets	(264,606)	(37,269)	(1,238,938)
Proceeds from disposal of property and equipment			10,520
Net cash provided by (used in) investing activities	(264,606)	(37,269)	14,739,082
Cash Flows From Financing Activities
Capital contribution from shareholders			600,000
Proceeds from short-term bank borrowings	25,000,000	3,521,176	12,100,000
Repayment of short-term bank borrowings	(25,453,560)	(3,585,059)	(12,432,203)
Borrowings from related parties	26,500,000	3,732,447
Repayment of borrowings to related parties	(15,000,000)	(2,112,706)	(200,000)
Payment of offering cost	(1,771,436)	(249,502)	(2,433,566)
Net cash (used in) provided by financing activities	9,275,004	1,306,356	(2,365,769)
Effect of exchange rate changes on cash and cash equivalents	(1,513)	(213)
Net increase in cash, cash equivalents and restricted cash	94,616,741	13,326,489	218,069,274
Cash, cash equivalents and restricted cash at beginning of the period	19,873,652	2,799,145	11,574,189
Cash, cash equivalents and restricted cash at end of the period	114,490,393	16,125,634	229,643,463
Supplemental Cash Flow Information
Cash paid for interest expense	507,297	71,451	668,772
Cash paid for income tax
Non-cash Investing and Financing activities
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	81,674	11,504	4,181,768
Settlement of due from related parties with due to related parties			459,800
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets
Cash and cash equivalents	5,536,235			$ 779,762	¥ 9,873,678
Restricted cash	103,954,158			14,641,637	4,999,974
Restricted cash, noncurrent	5,000,000			704,235	5,000,000
Total cash and cash equivalents and restricted cash	¥ 114,490,393		¥ 229,643,463	$ 16,125,634	¥ 19,873,652