The following is a summary of the Fanhua Inc. (FANH) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Fanhua reported a yearly growth of 28.7% in total insurance premiums, totaling RMB16.4 billion.

• The company's first year premiums reached RMB3.8 billion, showing a growth rate of 30.3% compared to the previous year.

• Operating income was noted at RMB195.8 million, indicating an increase of 16.1% from the previous year.

• Net income attributable to shareholders significantly grew by 179.7% year-on-year, reaching to RMB280.4 million.

Business Progress:

• Fanhua highlighted its strengthened strategy of Professionalization, Specialization, Digitalization and Open Platform.

• In 2024, the company aims to serve high-net-worth customers and high-productivity agents.

• The company's internationalization strategy shows steady progress with the official operational launch in Hong Kong and a strategy set for acquiring high-quality international assets.

• A strategic agreement with Singapore's White Group was signed, supporting Fanhua's journey towards AI development.

• Fanhua reported solid performance from its digital platforms, promising efficiency and superior service for customers.

• The company plans to increase its strategic investments in cloud infrastructure to meet increasing demand, while continuing to manage costs in line with the expected revenue growth.

More details: Fanhua IR

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