Former President of CNinsure Files Schedule 13G/A with SEC
August 04 2016 - 9:30AM
CNinsure Inc. (Nasdaq:CISG) (the “Company”), a leading independent
online-to-offline ("O2O") financial services provider in China,
today announced that it has received a notice from Mr. Qiuping Lai,
its former president and co-founder who retired from the Company
and its board of directors on March 29, 2016, that he filed a
Schedule 13G/A with the U.S. Securities and Exchange Commission on
August 4, which indicated that Mr. Qiuping Lai's equity
interests in the Company has increased from 11.8% to 18.7%.
About CNinsure
Inc.
CNinsure Inc. is a leading independent
online-to-offline 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 and
businesses, including property and casualty and life 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)
Baoxian.com, an online entry portal for comparing and purchasing
health, accident, travel and homeowner insurance products; (2)
CNpad, a mobile sales support application and (3) eHuzhu
(www.ehuzhu.com), a non-profit online mutual aid platform in
China.
Our extensive distribution and service network
covers 29 provinces in China, including most economically developed
regions and cities.
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 CNinsure and
the industry. Potential risks and uncertainties include, but are
not limited to, CNinsure’s ability to attract and retain key
personnel and productive 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. All information provided in this press release
is as of the date hereof, and CNinsure 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 CNinsure 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 CNinsure is
included in CNinsure's filings with the U.S.
Securities and Exchange Commission, including its annual report on
Form 20-F.
For more information about CNinsure Inc., please
visit http://ir.cninsure.net/.
CONTACT: Oasis Qiu
Investor Relations Manager
Tel: (8620) 83883191
Email: qiusr@cninsure.net
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