GUANGZHOU, China, Sept. 12, 2024 — Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, announced today that it has received a resignation letter from Mr. Peh Chin Hua, stepping down from his roles as director and Chairman of the Board for personal reasons. The Board has accepted his resignation, effective immediately. The Board expresses its best wishes to Mr. Peh for his future endeavors.
About Fanhua
Founded in Guangzhou in 1998 and publicly traded on NASDAQ in 2007 (Nasdaq: FANH), Fanhua is a leading independent financial services provider in China with robust technology capabilities and a commitment to empowering financial advisors and fostering sustained value creation for clients.
Our mission centers around creating an inclusive and collaborative platform for independent financial advisors, along with various insurance/financial sales organizations, enabling our partners to optimize their operations by providing them comprehensive business solutions encompassing compliance, technology, products, services, operations, capital flow, and professional training.
Leveraging advanced technology, artificial intelligence, and data-driven insights, Fanhua is at the forefront of revolutionizing financial services delivery, accelerating digital transformation, and driving industry growth.
With a comprehensive approach to financial services, we connect millions of Chinese families with diverse financial institutions and service providers, offering a wide range of opportunities and personalized solutions for insurance protection, retirement planning, health management, asset management, and family governance services, covering the full spectrum of our customers’ needs.
Forward-looking Statements
This press release contains forward-looking statements. These statements, including those related 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. Forward-looking statements can be identified by the use of terms such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates,” and similar expressions. 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 related 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.
For more information, please contact:
Fanhua Inc.
Investor Relations
Tel: +86 (20) 8388-3191
Email: ir@fanhgroup.com
Source: Fanhua Inc.