On July 9th, Gelonhui announced that Fanhua Holdings Group (FANH.US), China's leading independent technology-driven financial services provider, recently approved the granting of stock options to some of its key employees. This initiative is a strategic measure to motivate key talents and ensure their interests are closely tied to the long-term success of the company. According to the company's 2022 stock incentive plan, the Board of Directors authorized the issuance of up to 6.9 million American Depositary Shares ("ADS") of stock options to 15 members of the management team of the company's main subsidiaries on July 2, 2024. These stock options can be exercised immediately from the authorization date until July 15, 2024, subject to specific conditions. The exercise price is set at $1.92 per ADS, which is equivalent to the closing price of the company's ADS on the previous trading day before the Board of Directors authorized issuance. In addition, the company may provide these key employees with loans at an annual interest rate of 3% to help them exercise their stock options. Employees who receive stock options must commit to serving the company for at least three years.

Regarding the granting of stock options, Hu Yinan, the founder and CEO of the company, said:"Despite the volatility of the stock price due to certain industry policies in the short term, our team remains confident in Fanhua's growth potential and business value. By granting restricted stocks, we enable key talents to share in the success and growth of the company more deeply. Their commitment to service further demonstrates their firm belief in the company's strategic direction."