Baige Online Digital Technology Co., Ltd. (Ticker: 2672 HK) is a China-domiciled InsurTech company providing technology-enabled insurance intermediary services to scenario-based partners and insurance companies. The company generates revenue through insurance transaction services, precision marketing and digitalization solutions, and third-party administration services. Its insurance transaction services mainly involve distributing scenario-based insurance products underwritten by insurance companies, with Baige earning commission fees.

Baige Online Digital is expected to list H shares on the Hong Kong Stock Exchange on June 29, 2026. The company priced 33.34 million shares at HKD 15.60 per share, the bottom of the marketed range, raising approximately HKD 520 million, or approximately $66 million. The offering consists entirely of primary shares and includes a 15% greenshoe option. The company’s market capitalization at offer is approximately HKD 2.36 billion, or around $300 million.

According to CIC, Baige ranked 12th among China’s Internet insurance intermediaries by total premium in 2025 and first among third-party scenario-based Internet insurance intermediaries, with a 3.1% market share. Joint managers include ABCI Capital, BOCI Asia, CMB International and other syndicate members.