Baige Online

Baige Online (baigebao.com) is a retail insurance brokerage distributing scenario-based insurance products to consumers and businesses in China through proprietary digital platforms. The company holds national insurance brokerage credentials and internet insurance sales qualifications from Chinese financial regulators, and listed on the Hong Kong Stock Exchange in June 2026 under ticker 2672.

Baige Online links insurance products to specific everyday scenarios -- transportation, employment, health, and financial activities -- through integrations with digital channel platforms. The company works with over 70 insurance carrier partners and more than 210 distribution channel platforms, and has processed in excess of 87 billion insurance policies since founding. In 2025, the company held a 3.1% share of China's third-party scenario-based internet insurance intermediary market by volume.

Revenue is generated through transaction commissions on placed policies, precision digital marketing services for insurers, and third-party administration (TPA) services. Revenue grew from RMB 659.9 million in 2023 to RMB 1,227.1 million in 2025.