Chinese Insurance Broker Yuanbao Stock Spikes 81% on Its First Day of Trading

Tiger Newspress

04/30

Chinese insurance broker Yuanbao shares spiked 81% on its first day of trading.

Underwritten by Tiger Brokers, all clients who subscribed through the platform secured allocations once again.

Yuanbao is an online insurance distributor in China that analyzes data to provide customizable insurance plans to its customers. The company said its full-year revenue rose to 3.28 billion Chinese yuan ($450 million) in 2024, up from 2.05 billion Chinese yuan a year earlier.

This IPO is also taking place amid an intensifying trade war between the world's two largest economies, further extending uncertainty.

However, the Yuanbao listing comes after the stellar Nasdaq debut of Chinese tea chain Chagee earlier this month.

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