Fanhua Announces Updated Record Date for its Upcoming Quarterly Dividend for the Second Quarter of 2021

Rhea-AI Summary

Fanhua Inc. (Nasdaq: FANH) announced a change in the record date for its quarterly cash dividend from September 7, 2021, to September 13, 2021. The amount of the dividend remains at US$0.15 per ADS, or US$0.0075 per ordinary share, payable around September 23, 2021. The announcement highlights Fanhua's position as a leading independent financial services provider in China, emphasizing its extensive distribution network and diverse online platforms for insurance services.

Positive

• Dividend amount of US$0.15 per ADS indicates company confidence in financial stability.
• A large distribution network with 771 sales outlets covering 23 provinces enhances market reach.

Negative

• Changing the record date for dividends may create uncertainty among investors.

GUANGZHOU, China, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Fanhua Inc. (“Fanhua” or “the Company”) (Nasdaq: FANH), a leading independent financial services provider in China, today announced that the record date for its upcoming quarterly cash dividend for the second quarter of 2021 will be changed from the previously announced September 7, 2021 to September 13, 2021. The dividend amount of US$0.15 per ADS, or US$0.0075 per ordinary share, which is payable on or around September 23, 2021, remains unchanged. The dividends to be paid to the ADS holders through the depositary bank will be subject to the terms of the deposit agreement, including the fees and expenses payable thereunder.

About Fanhua Inc.

Fanhua Inc. is a leading independent financial services provider. Through our online platforms and offline sales and service network, we offer a wide variety of financial products and services to individuals, including life and property and casualty insurance products. We also provide insurance claims adjusting services, such as damage assessments, surveys, authentications and loss estimations, as well as value-added services, such as emergency vehicle roadside assistance.

Our online platforms include: (1) Lan Zhanggui, an all-in-one platform which allows our agents to access and purchase a wide variety of insurance products, including life insurance, auto insurance, accident insurance, travel insurance and standard health insurance products from multiple insurance companies on their mobile devices; (2) Baowang (www.baoxian.com), an online entry portal for comparing and purchasing health, accident, travel and homeowner insurance products and (3) eHuzhu (www.ehuzhu.com), a non-profit online mutual aid platform in China.

As of June 30, 2021, our distribution and service network is consisted of 771 sales outlets covering 23 provinces and 112 service outlets covering 31 provinces.

For more information about Fanhua Inc., please visit http://ir.fanhuaholdings.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. Among other things, management's quotations and the Business Outlook section 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, future development of COVID-19 outbreak and their potential impact on the sales of insurance products. All information provided in this press release is 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.

FAQ

What is the new record date for Fanhua's quarterly cash dividend?

The new record date for Fanhua's quarterly cash dividend is September 13, 2021.

When will Fanhua's dividend be payable?

Fanhua's dividend is payable on or around September 23, 2021.

How much is the quarterly cash dividend for Fanhua?

The quarterly cash dividend is US$0.15 per ADS or US$0.0075 per ordinary share.

What factors could affect Fanhua's future financial performance?

Fanhua's future financial performance may be affected by its ability to attract productive agents, competitive environment, and macroeconomic conditions in China.