2025.05.01
On April 30, 2025, Yuanbao Inc., a leading company in the insurance technology sector, went public on the NASDAQ Stock Exchange with the stock symbol YB. The public offering price was $15 per ADS (American Depositary Share), which was at the top of the proposed issuance range. Yuanbao issued a total of 2.3 million ADSs, raising $34.5 million. Its post-IPO valuation was approximately $681 million (assuming the underwriters fully exercise their over-allotment option).
Founded in 2019, Yuanbao is a leading technology-driven online insurance distributor. By integrating AI technology into all aspects of its insurance distribution and claims business, Yuanbao has significantly enhanced the experience and efficiency of insurance sales and after-sales service in China. According to Sullivan data, Yuanbao has become the second-largest distributor in China's life insurance market in terms of first-year premiums.
As the PRC legal counsel to the underwriters, JunHe conducted the legal due diligence, assisted with the domestic regulatory approval procedures, reviewed the transaction documents, and issued legal opinions. With its rigorous legal services and detail-oriented and professional expertise, JunHe was recognized by the company and the other intermediaries.
Partners WANG, Jiangang and LEI, Tianxiao led the JunHe team, and partner LI, Zhi provided support for the internal control matters.
