Maase MAAS

Maase Inc. operates as a diversified holding company focused on intelligent technology-driven services for families and enterprises, with a strategic emphasis on insurance agency services, health and wellness products, and smart-technology solutions. The company has undergone significant transformation through strategic acquisitions and divestitures, positioning itself in high-growth sectors such as biotechnology, premium ingredients, and new-energy technologies. Maase Inc. leverages capital investments and technological innovation to enhance service offerings and expand its market presence.

Maase Inc. generates revenue primarily through commissions and fees from insurance product distributions, performance-based bonuses, and sales of health and wellness products and smart-technology solutions. The company earns commissions from insurance companies based on a percentage of premiums paid by policyholders, supplemented by volume-based performance bonuses. Additionally, it derives income from the sale of premium ingredients, such as wild ginseng, and biotechnology products, including enzymatically hydrolyzed bird’s nest extracts. The smart-technology segment contributes revenue through the sale of innovative solutions like mobile EV-charging robots and modular residential energy-storage systems.

The company operates through the following segments:

• Insurance Agency Services: This segment is the largest revenue contributor, accounting for 93.1% of net revenues in the fiscal year ended June 30, 2025. It focuses on the distribution of life and non-life insurance products to individual and corporate clients through a network of 48,794 registered independent sales agents across 360 sales outlets in 24 provinces. Life insurance products include whole life, health, annuity, term life, and endowment insurance, while non-life products encompass accident, travel, homeowner, and indemnity medical insurance. The segment also provides ancillary services such as trust consulting and risk management for corporate clients.

• Health & Wellness Products: Established through the acquisition of Carve Group Ltd. in August 2025, this segment specializes in premium ingredients and biotechnology. It includes ownership of Zhongshen Resources Development (Liaoning) Co., Ltd., a holder of premium wild ginseng resources, and Glyken Bird Nest Technology (Shenzhen) Co., Ltd., which focuses on enzymatic hydrolysis and peptide extraction from bird’s nest. The segment targets consumers seeking high-quality, science-backed health and wellness products.

• Smart-Technology Solutions: Formed following the acquisition of Real Prospect Limited in October 2025, this segment provides innovative technology-driven solutions, including mobile EV-charging robots, modular residential energy-storage systems, and fully automated unmanned car-wash equipment. The segment supports the company’s expansion into new-energy technologies and intelligent services, catering to both individual and enterprise clients.

Maase Inc. holds a competitive position within its core industries, particularly in the insurance agency sector, where it is recognized as a leading third-party distributor in China. The company competes with professional insurance intermediaries, insurance companies, online insurance platforms, and other entities such as commercial banks. Its competitive advantages include a strong brand reputation, a nationwide network of sales agents supported by digital tools, and a diversified product portfolio. In the health and wellness segment, Maase Inc. differentiates itself through access to premium resources and biotechnology innovation, while its smart-technology segment leverages cutting-edge solutions to address emerging market demands. The company’s strategic focus on technology and capital investments further strengthens its ability to adapt to industry trends and regulatory changes.

Maase Inc. serves a broad customer base, primarily consisting of individuals under 50 years of age seeking life and non-life insurance products, as well as institutional clients requiring commercial property, cargo, hull, liability, and construction insurance. The company has historically served approximately 20.3 million individual customers, including 3.4 million with long-term life insurance policies, 16.9 million with property and casualty insurance policies, and 0.7 million with wealth management products. In the health and wellness segment, the company targets consumers interested in premium, science-backed products, while the smart-technology segment caters to clients seeking innovative energy and automation solutions. The company’s extensive database of existing customers provides opportunities for upselling and cross-selling as their needs evolve over time.