Fanhua Announces Change of Name to AIX Inc. and the Results of its Extraordinary General Meeting
Fanhua Inc. (Nasdaq: AIFU) announced its transformation to AIX Inc. following shareholder approval at an extraordinary general meeting. The company is implementing key changes including: a new English name (AIX Inc.) and Chinese name, restructuring its share capital into Class A and Class B Ordinary Shares, and adopting amended articles of association. The authorized capital remains at US$10,000,000, divided into 8 billion Class A shares (1 vote per share) and 2 billion Class B shares (100 votes per share). The name change, effective November 1, 2024, reflects the company's strategic focus on becoming a leading technology-driven financial service platform.
Fanhua Inc. (Nasdaq: AIFU) ha annunciato la sua trasformazione in AIX Inc. dopo l'approvazione degli azionisti in un'assemblea generale straordinaria. L'azienda sta attuando cambiamenti significativi, tra cui: un nuovo nome in inglese (AIX Inc.) e un nuovo nome cinese, la ristrutturazione del proprio capitale azionario in Class A e Class B azioni ordinarie, e l'adozione di articoli di associazione modificati. Il capitale autorizzato rimane fissato a 10.000.000 di USD, suddiviso in 8 miliardi di azioni di Classe A (1 voto per azione) e 2 miliardi di azioni di Classe B (100 voti per azione). Il cambio di nome, che entrerà in vigore il 1° novembre 2024, riflette il focus strategico dell'azienda nel diventare una piattaforma di servizi finanziari guidata dalla tecnologia.
Fanhua Inc. (Nasdaq: AIFU) anunció su transformación a AIX Inc. tras la aprobación de los accionistas en una reunión general extraordinaria. La compañía está implementando cambios clave, incluyendo: un nuevo nombre en inglés (AIX Inc.) y un nuevo nombre en chino, la reestructuración de su capital social en Class A y Class B acciones ordinarias, y la adopción de artículos de asociación enmendados. El capital autorizado se mantiene en 10.000.000 USD, dividido en 8 mil millones de acciones Clase A (1 voto por acción) y 2 mil millones de acciones Clase B (100 votos por acción). El cambio de nombre, efectivo el 1 de noviembre de 2024, refleja el enfoque estratégico de la compañía en convertirse en una plataforma de servicios financieros impulsada por la tecnología.
Fanhua Inc. (Nasdaq: AIFU)는 주주들의 승인에 따라 AIX Inc.로 변신한다고 발표했습니다. 회사는 새로운 영어 이름(AIX Inc.)과 중국어 이름을 포함하여 주요 변경 사항을 시행하고 있으며, 자본을 Class A 및 Class B 보통주로 재구성하고, 수정된 정관을 채택하고 있습니다. 허가된 자본금은 10,000,000 USD로 유지되며, 8억 주의 Class A 주식(주당 1표)과 20억 주의 Class B 주식(주당 100표)으로 나뉩니다. 2024년 11월 1일부터 시행되는 이름 변경은 기술 기반의 선도적인 금융 서비스 플랫폼으로 거듭나는 회사의 전략적 초점을 반영합니다.
Fanhua Inc. (Nasdaq: AIFU) a annoncé sa transformation en AIX Inc. suite à l'approbation des actionnaires lors d'une assemblée générale extraordinaire. L'entreprise met en œuvre des changements clés, notamment : un nouveau nom en anglais (AIX Inc.) et un nouveau nom en chinois, la restructuration de son capital en Class A et Class B actions ordinaires, et l'adoption d'articles de réglementation modifiés. Le capital autorisé reste à 10.000.000 $ US, divisé en 8 milliards d'actions de Classe A (1 vote par action) et 2 milliards d'actions de Classe B (100 votes par action). Le changement de nom, qui prendra effet le 1er novembre 2024, reflète l'orientation stratégique de l'entreprise pour devenir une plateforme de services financiers axée sur les technologies.
Fanhua Inc. (Nasdaq: AIFU) gab bekannt, dass sie sich nach der Genehmigung durch die Aktionäre auf einer außerordentlichen Hauptversammlung in AIX Inc. umwandelt. Das Unternehmen führt wesentliche Änderungen durch, darunter: einen neuen englischen Namen (AIX Inc.) und einen neuen chinesischen Namen, die Umstrukturierung des Grundkapitals in Class A und Class B Stammaktien und die Annahme geänderter Satzungsartikel. Das genehmigte Kapital bleibt bei 10.000.000 USD, aufgeteilt in 8 Milliarden Class A Aktien (1 Stimme pro Aktie) und 2 Milliarden Class B Aktien (100 Stimmen pro Aktie). Die Namensänderung, die am 1. November 2024 in Kraft tritt, spiegelt den strategischen Fokus des Unternehmens wider, eine führende technologiegetriebene Finanzdienstleistungsplattform zu werden.
- Restructuring share capital maintains total authorized capital at US$10,000,000
- Strategic rebranding aligns with technology-driven financial services focus
- Introduction of dual-class share structure with significant voting power disparity (1 vs 100 votes per share)
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.
At the extraordinary general meeting, each of the following resolutions submitted for shareholder approval was adopted, and after the adoption of the proposed resolutions, all corporate authorizations and actions contemplated thereunder were approved:
(i) THAT the Company’s English name be changed from “Fanhua Inc.” to “AIX Inc.” and dual foreign (Chinese) name be changed from “泛华控股集团” to “智能未来有限公司”, respectively,
(ii) THAT the authorized share capital of the Company, which is currently US
(a) | by the re-designation of 8,000,000,000 authorized ordinary shares (including all ordinary shares which are currently issued and outstanding) as Class A Ordinary Shares; and |
(b) | by the re-designation of 2,000,000,000 authorized ordinary shares (none of which are currently issued and outstanding) as Class B Ordinary Shares, and that, in each case, the rights attaching to such shares shall be varied so that they shall have the rights, preferences, privileges and restrictions attaching thereto as set out in the Amended and Restated Memorandum and Articles of Association (as defined below), such that, after and as a consequence of the Re-Designation and Variation of Rights, the authorized share capital will be US |
(iii) THAT, concurrently with the Re-Designation and Variation of Rights and conditional upon approval of the same, the memorandum and articles of association of the Company currently in effect be amended and restated by their deletion in their entirety and the substitution in their place of the Amended and Restated Memorandum and Articles of Association in the form annexed as Exhibit A to the notice of the extraordinary general meeting (the “Amended and Restated Memorandum and Articles of Association”).
After the Re-Designation and Variation of Rights, each holder of the Company’s Class A Ordinary Share is entitled to one vote per share, and each holder of the Company’s Class B Ordinary Share is entitled to 100 votes per share on all matters submitted to them for a vote.
The change of name will take effect on or around November 1, 2024. It better reflects the strategic focus of the Company, which is to become a globally leading technology-driven financial service platform dedicated to empowering financial advisors and fostering sustained value creation for our customers.
The Company’s ISIN and CUSIP codes will remain unchanged. Shareholders are not required to take any specific action regarding the above changes.
In connection with changes to the new Company name and the new ticker symbol, the Company will be transitioning to a new domain for its website and corporate email.
New website addresses:
Official website (Chinese version): https://www.aifugroup.com
Official website (English version): https://en.aifugroup.com
Investor relations website (Chinese version): https://www.aifugroup.com/investor_relations.htm;
Investor relations website (English version): https://ir.aifugroup.com
All company email addresses will follow the format of name@aifugroup.com.
The Company’s new websites will launch on November 1, 2024 concurrently with the transition to the new email domain. In order to ensure a smooth transition, our old domain will be automatically redirected to our new one for a period of time.
About Fanhua Inc.
Driven by its digital technologies and professional expertise in the insurance industry, Fanhua Inc. is the leading independent financial service provider in China, focusing on providing insurance-oriented family asset allocation services that covers customers’ full lifecycle and a one-stop service platform for individual sales agents and independent insurance intermediaries.
With strategic focus on long-term life insurance products, we offer a broad range of insurance products, claims adjusting services and various value-added services to meet customers’ diverse needs, through an extensive network of digitally empowered sales agents and professional claims adjustors. We also operate Baowang (www.baoxian.com), an online insurance platform that provides customers with a one-stop insurance shopping experience.
For more information about Fanhua Inc., please visit https://ir.fanhgroup.com
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. 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 including macroeconomic conditions in China. 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
FAQ
When will Fanhua (FANH) change its name to AIX Inc.?
What is the new share structure for Fanhua (FANH) after the reorganization?