Fanhua

Fanhua, Inc. engages in the provision of online-to-offline financial services. It operates through the following business segments: Insurance Agency, Insurance Brokerage, and Claims Adjusting. The Insurance Agency segment comprises of property and casualty insurance products as well as life insurance products. The Insurance Brokerage segment markets and sells commercial lines of property and casualty insurance products; group life insurance products; liability; insurance products; and credit insurance products to corporate clients. The Claims Adjusting segment provides claims adjusting services to self-insured entities or insurance companies. The company was founded by Yin An Hu and Qiu Ping Lai in 1998 and is headquartered in Guangzhou, China.

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AIX, Inc. engages in the provision of agency services and insurance claims adjusting services. It operates through the Insurance Agency and Claims Adjusting segments. The Insurance Agency segment includes providing agency services for insurance products and life insurance products. The Claims Adjusting segment provides pre-underwriting survey services, claims adjusting services, disposal of residual value services, loading and unloading supervision services, and consulting services. The company was founded by Yin An Hu and Qiu Ping Lai in 1998 and is headquartered in Guangzhou, China.

GUANGZHOU, China, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq: AIFU) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announced the results of its extraordinary general meeting of shareholders held in Guangzhou on October 31, 2024 at 9:00am Beijing Time.

Fanhua Announces Change of Name to AIX Inc. and the Results of its Extraordinary General Meeting

GUANGZHOU, China, Oct. 18, 2024 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announced the change of its ticker symbol from “FANH” to “AIFU”. Effective on October 23, 2024, the Company's American Depository Shares will begin trading on Nasdaq under the new ticker symbol “AIFU”.

Fanhua Announces Change of Ticker Symbol From “FANH” to “AIFU”

GUANGZHOU, China, Oct. 09, 2024 (GLOBE NEWSWIRE) -- The board of directors (the “Board”) of Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today issued an updated press release to correct its press release disseminated on October 1, 2024 which announced changes to its board of directors and management team (the “Original Announcement”). The statement regarding the professional experience of the newly appointed chairperson of the Board in the Original Announcement is hereby replaced with and changed to “Since June 2023, Ms. Hang Suong Nguyen has served as the Vice President of WEALTH WILL LIMITED, overseeing operational strategies and driving the company's capital deployment and growth in multiple emerging markets. Prior to that, from late 2018 until May 2023, she held the position of Sales Director at Trustwell Far East Pte. Ltd., where she was responsible for formulating and executing sales strategies, managing the sales team, analyzing market demands, maintaining customer relationships, and expanding business channels, making significant contributions to the company's cross-border business. She obtained her Bachelor's degree in International Business from Vietnam National University in 2008 and her Master's degree in Business Administration from Hanoi University of Science and Technology in 2009.” Except for the above, there are no other changes to the Original Announcement. The updated press release is as follows.

CORRECTION - Fanhua Announces Changes to the Board of Directors and Management Team

GUANGZHOU, China, Oct. 01, 2024 (GLOBE NEWSWIRE) -- The board of directors (the “Board”) of Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announces that Ms. Hang Suong Nguyen has been appointed as the new Chairperson of the Board, effective September 30, 2024..

Fanhua Announces Changes to the Board of Directors and Management Team

GUANGZHOU, China, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announced that it will hold an extraordinary general meeting (the “EGM”) of shareholders at its executive office at 60/F, Pearl River Tower, No. 15 West Zhujiang Road, Guangzhou, Guangdong, People's Republic of China, at 9:00 a.m. on October 31, 2024, Beijing/Hong Kong Time.

Fanhua to Hold Extraordinary General Meeting on October 31, 2024

GUANGZHOU, China, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent financial services provider in China, today announced its unaudited financial results for the first half ended June 30, 20241.

Fanhua Reports First Half 2024 Unaudited Financial Results

GUANGZHOU, China, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announces that it has recently received a resignation letter from Mr. Peh Chin Hua, tendering his resignation from the Board as director and Chairman of the Board for personal reasons. The Board has accepted his resignation, effective immediately. The Board hereby wishes Mr. Peh all the best in his future endeavors.

Fanhua Announces Change to the Board of Directors

GUANGZHOU, China, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq: FANH) (the “Company” or “FANHUA”), a leading independent technology-driven financial services provider in China, today announced that it, through its wholly-owned subsidiary Fanhua BluePlus Health Management Co., Ltd. (“Fanhua BluePlus”) has recently signed a strategic cooperation agreement with Shanghai Biotecan Pharmaceuticals Co. Ltd. (“Biotecan”).

Fanhua BluePlus Forming Strategic Partnerships with Shanghai Biotecan Pharmaceuticals

GUANGZHOU, China, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announced that the Company expects to release its unaudited financial results for the first half of 2024 on September 18, 2024. The Company expects its adjusted EBITDA for the first half of 2024 to be in the range of RMB70 million to RMB80 million.

Fanhua to Announce 2024 First Half Unaudited Financial Results on September 18, 2024

GUANGZHOU, China, July 23, 2024 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announced that all share options previously granted to its key employees by the Board of Directors (the “Board”) have recently been fully exercised through cash payment at an exercise price of US$1.92 per American Depository Share (“ADS”), representing a premium of approximately 21.4% from the Company's closing price on the last trading day prior to the cash exercise. This move not only highlights its key employees' strong confidence in the Company's future development but also demonstrates their commitment to growing with the company and sharing in its success.

Fanhua Announces Completion of Share Option Cash Exercises by Key Employees

GUANGZHOU, China, July 09, 2024 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announced that it has been once again ranked among the Top 20 Global Insurance Brokers, according to the July 2024 edition of Best's Review. With total revenues of $450.5 million in 2023, Fanhua secured the 19th position.

Fanhua Ranks 19th Among Best's Review's “Top 20 Global Brokers - 2024 Edition”

Highest Performances Holdings Inc

GUANGZHOU, China , July 8, 2024 /PRNewswire/ -- Fanhua Inc. (Nasdaq: FANH) (the "Company" or "Fanhua"), a leading independent technology-driven financial services provider in China, today announced that its board of directors (the "Board") has recently approved the grant of share options to certain of its key employees. This move is part of the Company's strategy to incentivize key talent and align their interests with the long term success of the Company.

Fanhua, Subsidiary of Highest Performances Holdings Inc., Announces Grant of Share Options to Key Employees

GUANGZHOU, China , July 8, 2024 /PRNewswire/ -- Fanhua Inc. (Nasdaq: FANH) (the "Company" or "Fanhua"), a leading independent technology-driven financial services provider in China, today announced that its board of directors (the "Board") has authorized the expansion of the Company's share repurchase program by an additional US$20 million, bringing the total authorized amount of share repurchase to US$40 million. The share repurchase program was intended to enhance shareholder returns and signals the Company's confidence in its long-term growth prospects.

Fanhua, subsidiary of Highest Performances Holdings Inc., Expands its Share Repurchase Program and Announces Management Share Buyback Program

GUANGZHOU, China, July 08, 2024 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announced that its board of directors (the “Board”) has recently approved the grant of share options to certain of its key employees. This move is part of the Company's strategy to incentivize key talent and align their interests with the long term success of the Company.

Fanhua Announces Grant of Share Options to Key Employees

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GUANGZHOU, China, July 05, 2024 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announced that its board of directors (the “Board”) has authorized the expansion of the Company's share repurchase program by an additional US$20 million, bringing the total authorized amount of share repurchase to US$40 million. The share repurchase program was intended to enhance shareholder returns and signals the Company's confidence in its long-term growth prospects.

Fanhua Expands its Share Repurchase Program and Announces Management Share Buyback Program

GUANGZHOU, China, June 03, 2024 (GLOBE NEWSWIRE) -- FANHUA Inc. (Nasdaq: FANH) (the “Company” or “FANHUA”), a leading independent technology-driven financial services provider in China, today announced that it signed a strategic cooperation agreement (“Agreement”) with Baidu AI Cloud to jointly develop “Du Xiaobao”, an AI-Powered insurance sales assistant application equipped with professional service capabilities. This initiative aims to drive the digital and intelligent transformation of the insurance industry, providing insurance agents with a more intelligent and convenient sales experience.

Fanhua Announces Strategic Partnership with Baidu AI Cloud for Application of Large Model in Insurance Distribution

GUANGZHOU, China, April 30, 2024 (GLOBE NEWSWIRE) -- FANHUA Inc. (Nasdaq: FANH) (the “Company” or “FANHUA”), a leading independent technology-driven financial services provider in China, today announced that it has filed its 2023 annual report on Form 20-F (the “2023 20-F”), which contains its audited financial statements for the fiscal year ended December 31, 2023, with the U.S. Securities and Exchange Commission (the “SEC”) on April 29, 2024. The 2023 20-F can be accessed on the SEC's website at http://www.sec.gov as well as on the Investor Relations page of the Company's website at http://ir.fanhgroup.com/financial-information/sec-filings. Hard copies of the annual report are available, free of charge, to its shareholders upon request.

FANHUA Files Annual Report on Form 20-F on April 29, 2024 and Announces Adoption of Semi-annual Financial Results Reporting Schedule

Fanhua Inc. (FANH) Q4 2023 Earnings Call Transcript

GUANGZHOU, China, March 20, 2024 (GLOBE NEWSWIRE) -- FANHUA Inc. (Nasdaq: FANH) (the “Company” or “FANHUA”), a leading independent financial services provider in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 20231. Financial Highlights for Year 2023 (In thousands, except per ADS data and percentages) 2022  (RMB) 2023  (RMB) 2023 (US$) Change % Total net revenues 2,781,614   3,198,389   450,484   15.0   Operating income 168,675   195,825   27,581   16.1   Net income attributable to shareholders 100,272   280,477   39,504   179.7   Adjusted EBITDA2 184,786   243,300   34,268   31.7   Diluted net income per ADS 1.87   5.21   0.74   178.6   Cash, cash equivalent, short-term investments at end of the period 915,279   1,449,808   204,201   58.4   Key operating metrics                 Total life gross written premiums (“GWP”) 12,408,998   16,109,985   2,269,044   29.8   •   First year premium (“FYP”) 2,556,867   3,478,110   489,882   36.0   •   Renewal premium 9,852,131   12,631,875   1,779,162   28.2   Financial Highlights for the Fourth Quarter of 2023:(In thousands, except per ADS data and percentages) 2022Q4  (RMB) 2023Q4  (RMB) 2023Q4 (US$) Change % Total net revenues 767,365   603,392   84,986   (21.4 ) Operating income 84,893   16,242   2,288   (80.9 ) Net income (loss) attributable to shareholders 70,616   (27,189 ) (3,829 ) N/A   Adjusted EBITDA2 77,103   40,150   5,655   (47.9 ) Diluted net income (loss) per ADS 1.31   (0.51 ) (0.07 ) N/A   Key operating metrics                 Total life gross written premiums (“GWP”) 3,465,190   3,969,430   559,083   14.6   •   First year premium (“FYP”) 918,822   564,170   79,462   (38.6 ) •   Renewal premium 2,546,368   3,405,260   479,621   33.7   ________________________ 1   This announcement contains currency conversions of certain Renminbi (“RMB”) amounts into U.S. dollars (US$) at specified rate solely for the convenience of the reader.

FANHUA Reports Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results

GUANGZHOU, China, March 07, 2024 (GLOBE NEWSWIRE) -- FANHUA Inc. (“FANHUA” or the “Company”) (Nasdaq: FANH), a leading independent financial services provider in China, today announces that it will release its unaudited financial results for the fourth quarter and fiscal year 2023 before the U.S. financial markets open on March 20, 2024 Eastern Daylight Time.

FANHUA to Announce Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results and Host Conference Call on March 20, 2024

GUANGZHOU, China, Feb. 20, 2024 (GLOBE NEWSWIRE) -- FANHUA Inc. (“FANHUA” or the “Company”) (Nasdaq: FANH), a leading independent financial services provider in China, today announces the signing of the first supplementary agreement with Singapore White Group Pte. Ltd. (“White Group”) to the framework strategic agreement previously disclosed on February 2, 2024. Pursuant to the agreement, both parties agree to the following matters:

FANHUA Announces Supplementary Agreement to Strategic Framework Agreement with White Group and Board Changes

GUANGZHOU, China, Feb. 02, 2024 (GLOBE NEWSWIRE) -- FANHUA Inc. (“FANHUA” or the “Company”) (Nasdaq: FANH), a leading independent financial services provider in China, today announced that Fanhua and Puyi Inc. (“Puyi”) entered into a framework agreement with Singapore White Group Pte. Ltd. (“White Group”). Pursuant to the framework agreement, White Group and its partners intend to invest up to US$500 million in Fanhua and up to US$500 million in Puyi. Both parties will proceed with finalising the details of the agreement soon.

FANHUA Announces Significant Investment from White Group

GUANGZHOU, China, Feb. 02, 2024 (GLOBE NEWSWIRE) -- FANHUA Inc. (“FANHUA” or the “Company”) (Nasdaq: FANH), a leading independent financial services provider in China, today announced that Mr. Stephen Markscheid has tendered his resignation as an independent director of the Company due to personal reasons, effective on February 1, 2024. Accordingly, Mr. Markscheid will cease to be a member of each of the audit committee, the corporate governance and nominating committee and the compensation committee of the board of directors of the Company (the “Board”).

FANHUA Announces Changes to Board of Directors

GUANGZHOU, China, Dec. 27, 2023 (GLOBE NEWSWIRE) -- FANHUA Inc. (“FANHUA” or “the Company”) (Nasdaq: FANH), a leading independent financial services provider in China, today announced that certain of FANHUA's shareholders (collectively, “FANHUA Participating Shareholders”), entered into share exchange agreements with Puyi Inc. (Nasdaq: PUYI), a leading third party wealth management service provider in China. The FANHUA Participating Shareholders consist of Mr. Yinan Hu, co-chairman of the board of directors and chief executive officer of the Company, certain other executive officers of the Company, certain employees, and certain other shareholders.

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