Fanhua Reports Third Quarter 2020 Unaudited Financial Results
Fanhua, a leading financial services provider in China, announced its unaudited financial results for Q3 2020. Total net revenues declined slightly to 812 million RMB (approximately $119.6 million), a 1.4% decrease year-over-year. Operating income fell sharply by 51.6% to 73 million RMB. Net income attributable to shareholders also decreased by 55.3% to 75.3 million RMB. The decline in income and revenues raises concerns about profitability and future growth.
- None.
- Total net revenues decreased by 1.4% year-over-year.
- Operating income fell by 51.6% to 73 million RMB.
- Net income attributable to shareholders declined by 55.3% to 75.3 million RMB.
GUANGZHOU, China, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Fanhua Inc., (Nasdaq: FANH), (the “Company” or “Fanhua”), a leading independent financial services provider in China, today announced its unaudited financial results for the third quarter ended September 30, 20201.
Financial Highlights for the Third quarter of 2020:
| (In thousands, except per ADS) | 2019Q3 （RMB） | 2020Q3 (RMB) | 2020Q3 (US$) | Change % |
| Total net revenues | 823,351 | 812,003 | 119,595 | (1.4) |
| Operating income | 151,447 | 73,326 | 10,800 | (51.6) |
| Non-GAAP operating income2 | 111,623 | 72,736 | 10,713 | (34.8) |
| Net income attributable to the Company’s shareholders | 168,332 | 75,322 | 11,094 | (55.3) |
| Non-GAAP net income attributable to the Company’s shareholders3 |
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"text": "Fanhua's total net revenues for Q3 2020 were 812 million RMB, which is approximately 119.6 million USD."
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FAQ
What were Fanhua's Q3 2020 earnings results?
In Q3 2020, Fanhua reported total net revenues of 812 million RMB, a decline of 1.4% from the previous year.
What is the net income for Fanhua in Q3 2020?
Fanhua's net income attributable to shareholders in Q3 2020 was 75.3 million RMB, down 55.3% compared to the same quarter last year.
How did Fanhua's operating income change in Q3 2020?
Fanhua's operating income in Q3 2020 dropped significantly by 51.6% to 73 million RMB.
What were Fanhua's revenue figures for Q3 2020?
Fanhua's total net revenues for Q3 2020 were 812 million RMB, which is approximately 119.6 million USD.
What is the future outlook for Fanhua after Q3 2020 results?
The significant declines in revenue and income could raise concerns about Fanhua's future growth prospects.
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