FANH Fanhua Inc

In the news release, "CNinsure (NASDAQ:CISG) Reports Second Quarter 2008 Unaudited Financial Results", issued earlier today by CNinsure Inc. over Xinhua PR Newswire, we are advised by the company that in the last financial table, "CNINSURE INC. Unaudited Condensed Consolidated Statements of Operations", the item, Net income for "For The Three Months Ended June 30, 2008" in RMB should be "60,639", instead of "60,309", as originally issued inadvertently. The correct financial table follows. CNINSURE INC. Unaudited Condensed Consolidated Statements of Operations For The Three Months Ended June 30, 2007 2008 2008 RMB RMB USD (In thousands, except for shares and per share data) Net revenues: Commissions and fees 101,729 214,698 31,301 Other service fees 117 150 22 Total net revenues 101,846 214,848 31,323 Operating costs and expenses: Commissions and fees (54,296) (109,337) (15,940) Selling expenses (1,998) (2,829) (412) General and administrative expenses (14,577) (31,946) (4,657) Total operating costs and expenses (70,871) (144,112) (21,009) Income from operations 30,975 70,736 10,314 Other income (expense), net: Investment income -- 85 12 Interest income 953 10,670 1,556 Interest expense (44) (30) (4) Others, net 4 (10) (1) Income before income taxes 31,888 81,451 11,877 Income tax benefit (expense) 186 (19,165) (2,794) Net income before minority interest 32,074 62,286 9,083 Minority interest 848 (1,647) (240) Net income 32,922 60,639 8,843 Net Income per share: Basic 0.051 0.066 0.010 Diluted 0.049 0.066 0.010 Net Income per ADS: Basic 1.013 1.329 0.194 Diluted 0.979 1.329(3) 0.194 Shares used in calculating Net income per share Basic 650,000,000 912,497,726 912,497,726 Diluted 672,841,565 912,497,726 912,497,726 (3) There is no dilutive effect for the three months end June 30, 2008 as the stock options were anti-dilutive. CNINSURE INC. Unaudited Condensed Consolidated Statements of Operations For The Six Months Ended June 30, 2007 2008 2008 RMB RMB USD Net revenues: Commissions and fees 172,323 351,180 51,199 Other service fees 238 286 42 Total net revenues 172,561 351,466 51,241 Operating costs and expenses: Commissions and fees (87,275) (180,405) (26,302) Selling expenses (4,196) (6,964) (1,015) General and administrative expenses (25,915) (60,710) (8,851) Total operating costs and expenses (117,386) (248,079) (36,168) Income from operations 55,175 103,387 15,073 Other income (expense), net: Investment income -- 85 12 Interest income 1,980 23,702 3,456 Interest expense (66) (37) (5) Others, net 15 (8) (1) Income before income taxes 57,104 127,129 18,535 Income tax benefit (expense) (176) (30,370) (4,428) Net income before minority interest 56,928 96,759 14,107 Minority interest 1,762 (1,087) (158) Net income 58,690 95,672 13,949 Net Income per share: Basic 0.090 0.105 0.015 Diluted 0.089 0.105 0.015 Net Income per ADS: Basic 1.806 2.097 0.306 Diluted 1.782 2.097(4) 0.306 Shares used in calculating Net income per share Basic 650,000,000 912,497,726 912,497,726 Diluted 658,927,355 912,497,726 912,497,726 (4) There is no dilutive effect for the six months end June 30, 2008 as the stock options were anti-dilutive. DATASOURCE: CNinsure Inc.

Copyright