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

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.

A conference call will be hosted by Mr. Yinan Hu, Vice-chairman and Chief Executive Officer of the Company, Mr. Ben Lin, Chief Strategy Officer of the Company, Mr. Peng Ge, Chief Financial Officer of the Company, and Mr. Lichong Liu, Chief Operating Officer of the Company to discuss the fourth quarter and fiscal year 2023 financial results at:

Time: 9:00 p.m. Eastern Daylight Time on March 20, 2024

        or 9:00 a.m. Beijing/Hong Kong Time on March 21, 2024

Please pre-register online in advance to join the conference call by navigating to the link provided below and dial in 10 minutes before the call is scheduled to begin. Conference call details will be provided upon registration.

Conference Call Preregistration:

Additionally, a live and archived webcast of the conference call will be available at FANHUA’s investor relations website:

About FANHUA

Established in 1998, FANHUA is a leading comprehensive financial services provider in China, driven by digital technology and professional expertise, with a focus on delivering family asset allocation services throughout the entire lifecycle for individual clients, while also providing a one-stop support platform for individual agents and sales organizations.

As of September 30, 2023, the Company’s offline sales service network spans 31 provinces in China, comprising 673 sales service outlets, 91,098 agents, and more than 2,215 claims adjustors. Through proprietary technological tools such as “FA APP” (formerly known as Lan Zhanggui), “FANHUA Policy Custody System”, and “RONS DOP”, the Company is dedicated to supporting agents in providing convenient services to clients through technological means.

With an integrated online and offline approach, the Company has provided services to more than 12 million individual clients. For the nine months ended September 30, 2023, FANHUA facilitated US$1.7 billion gross written premiums, with its net revenues reaching US$335.7 million, net income attributable to shareholders of US$42.2 million and total assets of US$549.0 million.

Forward-looking Statements

This press release contains statements of a forward-looking nature. These statements, including the statements relating to the Company’s future financial and operating results, are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will", "expects", "believes", "anticipates", "intends", "estimates" and similar statements. Among other things, management’s quotations contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about FANHUA and the industry. Potential risks and uncertainties include, but are not limited to, those relating to its ability to attract and retain productive agents, especially entrepreneurial agents, its ability to maintain existing and develop new business relationships with insurance companies, its ability to execute its growth strategy, its ability to adapt to the evolving regulatory environment in the Chinese insurance industry, its ability to compete effectively against its competitors, quarterly variations in its operating results caused by factors beyond its control and macroeconomic conditions in China and their potential impact on the sales of insurance products. Except as otherwise indicated, all information provided in this press release speaks as of the date hereof, and FANHUA undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although FANHUA believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by FANHUA is included in FANHUA’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F.

Source: FANHUA Inc.