GUANGZHOU, China, Oct. 01, 2018 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a
leading independent financial services provider operating in China, today announces progress on its share repurchase program.
Pursuant to its previously announced share repurchase program, the Company intends to repurchase up to 6.5
million American Depositary Shares (“ADSs”) at prevailing market prices of no more than US$29.0 per ADS by December 31, 2018. As of
September 30, 2018, the Company has repurchased 506,412 ADSs at an average price of US$24.9478 per ADS for a total amount of
approximately US$12.6 million, subject to the restrictions set forth in Rule 10b-18 under the Securities Exchange Act of 1934, as
amended. The Company will continue to implement the share repurchase program in accordance with its Rule 10b5-1 plan established by
the Company and its broker going forward.
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 provided by over 90 insurance companies 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) CNpad, a mobile sales support application; (2) Baoxian.com, an online entry
portal for comparing and purchasing health, accident, travel and homeowner insurance products; (3) eHuzhu (www.ehuzhu.com), a
non-profit online mutual aid platform in China and (4) 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.
As of June 30, 2018, our distribution and service network consisted of 712 sales and 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
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
Source: Fanhua Inc.
