CNinsure Announces Change of Company Name to Fanhua Inc. and Ticker Symbol to FANH
December 06 2016 - 4:00AM
CNinsure Inc. (“CNinsure” or “the Company”) (Nasdaq:CISG), a
leading independent online-to-offline financial services provider
operating in China, today announced the results of its
extraordinary general meeting of shareholders held in Guangzhou on
December 6, 2016.
At the extraordinary general meeting, the
shareholders passed resolutions to (i) change the Company’s name
from “CNinsure Inc.” to “Fanhua Inc.” and (ii) amend the Company’s
memorandum and articles of association to reflect the name
change.
In connection with the name change, the Company
also announced the change of its ticker symbol from “CISG” to
“FANH” and the corresponding changes in CUSIP numbers for its
ordinary shares and ADSs. The new symbol and CUSIP numbers will
become effective upon the opening of the Nasdaq market on December
7, 2016. The Company's official website will be changed to
www.fanhuaholdings.com on December 15, 2016, local time.
Commenting on the changes, Mr. Yinan Hu,
Chairman of the Board of the Company stated: “The Company’s
business has become increasingly diversified and currently provides
a wide range of financial services in addition to traditional
insurance services. We believe the change of the company’s name and
ticker symbol will more appropriately reflect our business
direction.”
About Fanhua
Inc.
Fanhua Inc., formerly known as 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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