GUANGZHOU, China, July 8, 2024
/PRNewswire/ -- Fanhua Inc. (Nasdaq: FANH) (the "Company" or
"Fanhua"), a leading independent technology-driven financial
services provider in China, today
announced that its board of directors (the "Board") has recently
approved the grant of share options to certain of its key
employees. This move is part of the Company's strategy to
incentivize key talent and align their interests with the long term
success of the Company.
In accordance with the Company's 2022 Share Inventive Plan, on
July 2, 2024 the Board authorized the issuance of share
options to purchase up to 6,900,000 American Depository Shares
("ADS") to 15 management team members of the Company's major
subsidiaries. The share options are immediately exercisable until
July 15, 2024, subject to certain
conditions. The exercise price is US$1.92 per ADS, equivalent to the closing price
of the Company's ADS for the trading day preceding the day on which
the Board authorized the issuance. Additionally, the Company may
offer these key employees a loan at an interest rate of 3% per
annum to facilitate the exercise of the share options. Employees
receiving the share options commit to serving the Company for no
less than three years.
Commenting on the grant, Mr. Yinan
Hu, founder and Chief Executive Officer of the Company,
said, "Our team has shown remarkable confidence in Fanhua's growth
potential and business value, despite short-term fluctuations in
the stock price due to certain industry policy impacts. By granting
restricted shares, we enable our key talent to further benefit from
the Company's success and growth. Their commitment to a service
period further demonstrates their confidence in the Company's
strategic direction."
About Highest Performances Holdings Inc. (NASDAQ:
HPH)
HPH was founded in 2010 with the aim of becoming a top provider
of smart home and enterprise services. Its mission is to improve
the quality of life for families worldwide, focusing on two main
driving forces: "technological intelligence" and "capital
investments."HPH has a global strategic perspective and identifies
high-quality enterprises with global potential for investment and
operations. Its areas of focus include asset allocation, education
and study tours, cultural tours, sports events, healthcare and
elderly care and family governance.
HPH currently holds controlling interests in two leading
financial service providers in China, namely Fanhua Inc., a technology-driven
platform, and Fanhua Puyi Fund Distribution Co., Ltd., an
independent wealth management service provider.
Highest Performances Holdings Inc., formerly known as Puyi Inc.,
was renamed on March 13, 2024 to
reflect its strategic transformation.
About FANHUA
Established in Guangzhou in
1998 and listed on NASDAQ in 2007 (Nasdaq: FANH), FANHUA is a
leading independent financial services provider in China with
strong technology capabilities and a commitment to empowering
financial advisors and fostering sustained value creation for
customers.
Our mission revolves around creating an inclusive and
collaborative platform for independent financial advisors, as well
as various insurance/financial sales organizations, enabling our
partners to optimize their practices by offering them end-to-end
business solutions spanning compliance, technology, products,
services, operations, capital flow, and professional training.
Leveraging advanced technology, artificial intelligence, and
data-driven insights, Fanhua is at the forefront of revolutionizing
financial services delivery, accelerating digital transformation,
and driving industry growth.
With a comprehensive approach to financial services, we connect
millions of Chinese families with various financial institutions
and service providers, offering a diverse range of opportunities
and personalized solutions for insurance protection, retirement
planning, health management, asset management, and family
governance services, covering the full lifecycle of our customers'
needs.
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 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.
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SOURCE Highest Performances Holdings Inc.