Fanhua Board Approves Cash Dividend Policy
March 06 2017 - 4:30PM
Fanhua Inc. ( “Fanhua” or “the Company”) (Nasdaq:FANH), a leading
independent online-to-offline ("O2O") financial services provider
in China, today announced that its Board of Directors (the "Board")
approved a cash dividend policy on February 28, 2017, which
provides for an annual cash dividend to shareholders of up to 30%
of the Company’s net income attributable to shareholders in the
previous fiscal year. The Company expects to declare the
first annual cash dividend by the end of April 2017 when the
Company completes the annual audit of its 2016 financial results.
This dividend policy will be reviewed and
revised by the Board periodically in accordance with the Company’s
business and financial circumstances, with the goal of sharing the
Company’s success with its shareholders while reserving adequate
funds for the Company’s business operations and expansion
plans.
Mr. Chunlin Wang, Chief Executive Officer of the
Company, commenting on the new dividend policy stated, "The
approval by the Board of the cash dividend policy demonstrates the
Board’s confidence in the Company’s growth and profitability. We
experienced robust growth in 2016 and recorded positive operating
income sooner than we expected. We are optimistic that we will
generate strong operating profit in 2017 and continue to do so for
the foreseeable future. We are committed to consistently delivering
solid returns to our shareholders in various forms, including cash
dividend."
About Fanhua
Inc.
Fanhua 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 Fanhua and
the industry. Potential risks and uncertainties include, but are
not limited to, Fanhua’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 Fanhua 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 Fanhua 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 Fanhua is included
in Fanhua's filings with the U.S. Securities and
Exchange Commission, including its annual report on Form 20-F.
For more information about Fanhua Inc.,
please visit http://ir.fanhuaholdings.com/.
CONTACT: Oasis Qiu
Investor Relations Manager
Tel: (8620) 83883191
Email: qiusr@fanhuaholdings.com
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