FANHUA Shares Initial Financial Figures
FANHUA Inc., a leading financial services provider in China, has provided select preliminary financial results for the third quarter of 2023. The company is expected to recognize an unrealized investment gain of approximately $22.5 million in the quarter, resulting in a significant increase in net income. The full-year guidance for a 50% year-over-year increase in operating income remains unchanged. The official financial performance details will be released on November 20, 2023.
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FANHUA Shares Initial Financial Figures

FANHUA Inc. ("FANHUA" or "the Company") (Nasdaq: FANH), a leading independent financial services provider in China, has released select preliminary financial results for the third quarter of 2023. The Company estimates that it will recognize an unrealized investment gain of approximately US$22.5 million, or RMB164 million, in the third quarter of 2023. This gain is a result of the recent listing of a company in which FANHUA owns a 2.8% equity interest. With this gain factored in, the Company's net income attributable to shareholders for the third quarter is expected to increase significantly. More detailed financial performance information for the third quarter will be provided on November 20, 2023.

FANHUA's full-year guidance of a minimum 50% year-over-year increase in operating income for 2023 remains unchanged.

The preliminary unaudited results shared in this release are based on internal financial reports and are subject to revision as the Company completes its third quarter 2023 financial reporting procedures and controls.

The Company has scheduled a conference call to discuss its third quarter 2023 financial results on November 20, 2023, at 8:00 p.m. Eastern Standard Time or 9:00 a.m. Beijing/Hong Kong Time on November 21, 2023. The call will be hosted by the management team, including Mr. Yinan Hu, chairman and chief executive officer; Mr. Ben Lin, co-chairman and chief strategy officer; Mr. Peng Ge, chief financial officer; and Mr. Lichong Liu, chief operating officer. Participants are encouraged to pre-register online in advance and join the call 10 minutes before it begins. Conference call details will be provided upon registration. A live and archived webcast of the conference call will also be available on Fanhua's investor relations website.

FANHUA Inc. is the leading independent financial service provider in China. The company leverages digital technologies and professional expertise in the insurance industry to offer insurance-oriented family asset allocation services and a one-stop service platform for individual sales agents and independent insurance intermediaries. FANHUA focuses on long-term life insurance products and provides a wide range of insurance products, claims adjusting services, and value-added services. The company operates through a network of digitally empowered sales agents and professional claims adjustors. Additionally, FANHUA operates Baowang, an online insurance platform that offers customers a convenient insurance shopping experience. As of June 30, 2023, FANHUA had 606 sales outlets and 89 service outlets covering various regions in China.

This press release contains forward-looking statements regarding FANHUA's future financial and operating results. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on current expectations, assumptions, estimates, and projections about FANHUA and the industry. They involve known and unknown risks and uncertainties and are subject to change based on various factors. FANHUA does not guarantee that its expectations will turn out to be correct, and actual results may differ materially from anticipated results. The company will provide updates if necessary. More information about the risks and uncertainties faced by FANHUA can be found in its filings with the U.S. Securities and Exchange Commission.

Source: FANHUA Inc.

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