Zhitong Finance learned that FANH.US (FANH.US) announced results for the fourth quarter and full year of 2023. According to financial reports, Q4 revenue was 603 million yuan (RMB, same below), a year-on-year decrease of 21.4%. Net loss attributable to shareholders was RMB 27.189 million, and net profit of RMB 706.16 million for the same period last year. The loss per ADS after dilution was 0.51 yuan, compared to a profit of 1.31 yuan for the same period last year.

Among them, life insurance business revenue was 446.5 million yuan, down 28.8% year on year; non-life insurance business revenue was 37 million yuan, up 4.8% year on year. Claims adjustment business revenue was 119.8 million yuan, an increase of 14.5% over the previous year.

The adjusted EBITDA was 40.15 million yuan, a year-on-year decrease of 47.9%. Operating profit was 16.24 million yuan, a year-on-year decrease of 80.9%.

The total number of life insurance policies for the fourth quarter was $3,969 billion, up 14.6% year over year.

Looking ahead, the company expects the adjusted EBITDA for the first quarter of 2024 to be no less than RMB 50 million. This forecast is based on current market conditions, reflects preliminary estimates, and is subject to change due to various uncertainties.