Fanhua Announces Appointments of COO and CDO
March 28 2022 - 5:15PM
The board of directors (the “Board”) of Fanhua Inc. (“Fanhua” or
“the Company”) (Nasdaq: FANH), a leading independent financial
services provider in China, today announced that Mr. Lichong Liu
(“Mr. Liu”) has been appointed as the vice president and chief
operating officer (“COO”) of the Company to oversee corporate
operations, and that Mr. Jun Li (“Mr. Li”) has been appointed as
the vice president and chief digital officer (“CDO”) of the Company
to accelerate the Company’s digital transformation, effective
immediately.
Mr. Lichong Liu joined Fanhua in 2006, and has
previously served in various leadership positions including
chairman and chief executive officer of Fanhua Insurance Sales
Service Group Company Limited, the onshore holding company of
Fanhua’s main operating entities, vice president of Fanhua’s life
insurance unit, and general manager of Fanhua Hebei and Shandong
agency branches. Prior to that, he had held various managerial
roles in leading life insurance companies in China. Mr. Liu holds a
bachelor’s degree of Finance from Renmin University of China and a
master’s degree of Advanced Business Administration from the
Business School of The Hong Kong University of Science and
Technology.
Mr. Jun Li has worked with Fanhua since 2008,
and has previously served as chief technology officer of Fanhua
Insurance Sales Service Group Company Limited and Baowang, the
company’s online insurance distribution platform, general manager
of Fanhua’s Information Technology Department and director of
Fanhua’s Information Center. Prior to joining Fanhua, he had served
as head of technology development in several leading life insurance
companies in China. Mr. Liu holds a master’s degree of Computer
Application from Wuhan University, and certificates for Senior
Engineer, System Analyst, and Certified Database Tuning Expert.
Mr. Yinan Hu, chairman and chief executive
officer of Fanhua, commented: “I would like to welcome Mr. Liu and
Mr. Li to join the management team. Over the past decade, Mr. Liu
and Mr. Li have demonstrated high levels of leadership and
professional skills. We are confident that their wisdom and
experience will be fully utilized in achieving our aspiration to
become a professionalized and digitalized company that demonstrates
high growth, as we implement in full strength of our growth
strategy of “Professionalization, Digitalization and Open Platform”
to seize the burgeoning growth opportunities driven by the rising
demand for elderly care, legacy management and family asset
allocation services in the next decade.”
About Fanhua
Inc.
Fanhua Inc. is a leading independent 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, including life and property and
casualty 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: (i) Lan Zhanggui,
an all-in-one platform which allows our agents to access and
purchase a wide variety of insurance products, including life
insurance, auto insurance, accident insurance, travel insurance and
standard health insurance products from multiple insurance
companies on their mobile devices; (ii) Baowang (www.baoxian.com),
an online entry portal for comparing and purchasing health,
accident, travel and homeowner insurance products and (iii) eHuzhu
(www.ehuzhu.com), a non-profit online mutual aid platform in
China.
As of December 31, 2021, our distribution and
service network consisted of 771 sales outlets covering 23
provinces, autonomous regions and centrally administered
municipalities and 109 service outlets covering 31 provinces.
For more information about Fanhua Inc., please
visit http://ir.fanhuaholdings.com/.
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
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, those relating to
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, future
development of COVID-19 outbreak and their potential impact on the
sales of insurance products. Except as otherwise indicated, all
information provided in this press release speaks 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.
CONTACT: Investor Relations
Tel: (8620) 83883191
Email: qiusr@fanhuaholdings.com
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