CNinsure Comments on Recent Stock Trading Activity
May 21 2015 - 8:37AM
CNinsure Inc. (Nasdaq:CISG) (the "Company" or "CNinsure"), a
leading independent online-to-offline financial services provider
operating in China, in light of the recent volatility of its stock
price, today announced that it is not aware of any material
non-public information that would account for such unusual trading
activity. The Company reiterated that it maintains normal business
operations and the fundamentals of it business have not changed.
"As reflected in our first quarter 2015 financial results, our
existing businesses are maintaining solid growth. As we continue to
execute our O2O strategic plans and strive for even stronger
growth, we remain optimistic about achieving 30% top line growth in
the second quarter this year and expect growth to accelerate in the
second half of this year, leading to a 30% full year growth in net
revenues. On the profit front, we expect non-GAAP operating income
(which excludes online spending) for 2015 to increase by over 20%
year-over-year. We believe our business is as well-positioned as it
has ever been, and our continued investment in O2O initiatives
reflects our confidence in the strategic progress that we continue
to make to capture the emerging opportunities provided by the
internet," commented Chunlin Wang, Chief Executive Officer of
CNinsure.
About CNinsure Inc.
CNinsure Inc. is a leading independent online-to-offline
financial service 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; (3) Chetong.net, a public service platform for the
insurance industry and (4) eHuzhu (www.ehuzhu.com), the first
non-profit online mutual aid platform in China. Our extensive
distribution and service network covers 27 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, those relating to CNinsure's limited operating history,
especially its limited experience in selling life insurance
products, 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
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.
CONTACT: For more information about CNinsure Inc.,
please visit http://ir.cninsure.net/.
Oasis Qiu
Investor Relations Manager
Tel: +86 (20) 6122-2731
Email: qiusr@cninsure.net
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