Fanhua Reports First Half 2024 Unaudited Financial Results
Fanhua Reports First Half 2024 Unaudited Financial Results
________________________GUANGZHOU, China, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq: FANH) (the "Company" or "Fanhua"), a leading independent financial services provider in China, today announced its unaudited financial results for the first half ended June 30, 20241.
2024年9月18日，中國廣州（GLOBE NEWSWIRE）-- 泛華控股集團（納斯達克股票代碼: FANH）（「公司」或「泛華」）是中國領先的獨立金融服務供應商，今天宣佈了截至20241年6月30日的未經審計的財務業績。
Financial Highlights for the First Half of 2024:
2024年上半年財務亮點：
| (In thousands, except per ADS data and percentages) |
2023H1 (RMB) |
2024H1 (RMB) |
2024H1 (US$) |
Change % | ||||||||
| Total net revenues | 1,960,377 | 1,123,178 | 154,555 | (42.7) | ||||||||
| Operating income | 146,387 | 54,910 | 7,557 | (62.5) | ||||||||
| Loss from fair value change | — | (73,761) | (10,150) | — | ||||||||
| Net income attributable to shareholders | 136,967 | 4,738 | 653 | (96.5) | ||||||||
| Adjusted EBITDA2 | 178,221 | 77,665 | 10,687 | (56.4) | ||||||||
| Diluted net income per ADS | 2.54 | 0.09 | 0.01 | (96.5) | ||||||||
| Diluted adjusted EBITDA per ADS3 | 3.31 | 1.45 | 0.20 | (55.2) | ||||||||
| Cash, cash equivalent, short-term investments at end of the period | 1,611,554 | 770,133 | 105,974 | (52.2) | ||||||||
| (以千元爲單位，除非另有說明，數據和百分比) | 2023年上半年 （人民幣元） |
2024年上半年 （人民幣元） |
2024年上半年 - |
修改% | ||||||||
| 總淨收入 | 1,960,377 | 1,123,178 | 154,555 | （42.7） | ||||||||
| 營業利潤 | 146,387 | 54,910 | 7,557 | （62.5） | ||||||||
| 公允價值變動損失 | — | (73,761) | (10150) | — | ||||||||
| 歸屬於股東的淨利潤 | 136,967 | 4,738 | 653 | （96.5） | ||||||||
| 178,221 | 77,665 | 10,687 | （56.4） | |||||||||
| 每股攤薄淨利潤 | 2.54 | 0.09 | 0.01 | （96.5） | ||||||||
| 每股攤薄調整後的息稅折舊及攤銷前利潤 | 3.31 | 1.45 | 0.20 | （-55.2） | ||||||||
| 期末現金、等價物、短期投資 | 1,611,554 | 770,133 | 105,974 | （52.2） | ||||||||
Key operating metrics for the First Half of 2024:
2024年上半年的關鍵運營指標:
| (In thousands, except percentages and number of agents) |
2023H1 (RMB) |
2024H1 (RMB) |
2024H1 (US$) |
Change % | ||||||||
| Total life gross written premiums ("GWP") | 8,703,510 | 8,642,319 | 1,189,223 | (0.7) | ||||||||
| - First year premium ("FYP") | 2,329,504 | 1,205,417 | 165,871 | (48.3) | ||||||||
| - Renewal premium | 6,374,006 | 7,436,902 | 1,023,352 | 16.7 | ||||||||
| Number of life insurance performing agents | 11,855 | 7,723 | — | (34.9) | ||||||||
| FYP per life insurance performing agent | 196 | 156 | — | (20.6) | ||||||||
| （以千爲單位，除百分比和代理人數外） |
2023年上半年 （人民幣元） |
2024年上半年 （人民幣元） |
2024年上半年 - |
修改% | ||||||||
| 總人壽保費淨保費收入 ("GWP") | 8,703,510 | 8,642,319 | 1,189,223 | (0.7) | ||||||||
| - 首年保費（"FYP"） | 2,329,504 | 1,205,417 | 165,871 | (48.3) | ||||||||
| - 續期保費 | 6,374,006 | 7,436,902 | 1023352 | 16.7 | ||||||||
| 壽險業務高效人員數量 | 11,855 | 7,723 | — | (34.9) | ||||||||
| 每位壽險高效人員的FYP | 196 | 156 | — | (20.6) | ||||||||
________________________
________________________
| 1 | This announcement contains currency conversions of certain Renminbi ("RMB") amounts into U.S. dollars (US$) at specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2672 to US$1.00, the effective noon buying rate as of June 28, 2024 in The City of New York for cable transfers of RMB as set forth in the H.10 weekly statistical release of the Federal Reserve Board | |
| 2 | Adjusted EBITDA is defined as net income before income tax expense, share of loss of affiliates, investment income, interest income, financial cost, depreciation, amortization of intangible assets, share-based compensation expenses and change in fair value of equity investments and contingent consideration. | |
| 3 | Diluted adjusted EBITDA per ADS is defined as adjusted EBITDA divided by total weighted average number of diluted ADSs of the Company outstanding during the period. |
| 1 | 本公告中的一些人民幣（"RMB"）金額轉換爲美元（US$）的匯率僅供讀者方便使用。除非另有說明，所有人民幣轉換爲美元的匯率均按照RMB7.2672兌換爲1.00美元的匯率進行計算，該匯率截至2024年6月28日中午在紐約市出具的RMb電纜轉賬的有效購買匯率，詳見聯儲局H.10每週統計發佈的數據。 | |
| 2 | 調整後的稅息折舊及攤銷前利潤（EBITDA）是指淨利潤前所得稅費用、附屬公司的損失份額、投資收益、利息收益、財務費用、固定資產折舊、無形資產攤銷、股票期權支出及股權投資公允價值變動和有條件支付的費用。 | |
| 3 | 每股稀釋調整後的稅息折舊及攤銷前利潤（EBITDA）是指調整後的稅息折舊及攤銷前利潤（EBITDA）除以公司在該期間內待發行的稀釋後平均權重美國存託憑證（ADS）的總數。 |
Mr. Yinan Hu, Founder and Chief Executive Officer, commented: "In the first half of 2024, the implementation of the 'Unified Commissions and Fees in Reporting and Underwriting' policy in the agency and broker channel has caused unprecedented disruption in the sector. Against this backdrop, we took a series of proactive measures and steadily advanced our strategy of 'professionalization, service ecosystem development, intelligence, open platform, and internationalization' to ensure stable business operations. In the first half of 2024, we achieved gross written premiums of RMB8.8 billion, with first year premiums of RMB1.4 billion, fully demonstrating our resilience.
胡一楠先生，創始人兼首席執行官，評論說：「2024年上半年，『統一佣金和費用報告和承銷』政策在代理和券商渠道的實施引發了業界前所未有的混亂。在這種背景下，我們採取了一系列積極措施，穩步推進了我們的『專業化、服務生態系統的發展、智能、開放平台和國際化』戰略，以確保業務的穩定運營。在2024年上半年，我們實現了人民幣88億元的原始保費收入，首年保費達到14億元，充分展示了我們的韌性。」
"We are pleased that the first AI model in the insurance industry, 'Du Xiaobao' L2, co-developed by Fanhua and Baidu Smart Cloud, was launched for trial operation and has been well received among sales agents. We firmly believe that artificial intelligence will play an increasingly important role in insurance distribution. It will not only enhance the overall customer experience but also reshape the traditional insurance sales model, bringing new growth momentum to the industry. 'Du XiaoBao' is central to our intelligence strategy and will play a crucial role in driving our future competitiveness, propelling the Company toward greater growth and new breakthroughs.
「我們很高興保險行業中首個人工智能模型『杜小寶』L2由泛華和百度智能雲共同開發，已開始試運營，並在銷售代理人中得到了良好的響應。我們堅信人工智能將在保險分銷中發揮日益重要的作用。它不僅將提升整體客戶體驗，而且將重塑傳統保險銷售模式，爲行業帶來新的增長動力。『杜小寶』是我們智能策略的核心，並將在推動我們未來競爭力、推動公司取得更大增長和新突破中扮演關鍵角色。」
Open Platform and M&A Contributions over the First Half of 2024
2024年上半年開放平台和併購的貢獻
- The number of platform professional users who used our Open Platform reached 963 as of June 30, 2024, generating RMB322.7 million in first year premiums, which accounted for 26.8% of our life insurance FYP.
- 截至2024年6月30日，使用我們開放平台的平台專業用戶數量達到963，實現了人民幣3.227億元的首年保費，佔我公司壽險首年保費的26.8%。
Share Repurchase Program
分享回購計劃
On July 4, 2024, the Board authorized the expansion of the Company's share repurchase program by an additional US$20 million, bringing the total authorized amount of share repurchase to US$40 million. Under the Company's previously authorized share repurchase program, as of June 30, 2024, the Company had repurchased an aggregate of 726,616 ADSs, at an average price of approximately US$7.5 per ADS for a total amount of approximately US$5.4 million.
2024年7月4日，董事會批准將公司的回購計劃額外擴大2000萬美元，將授權的回購金額總額增至4000萬美元。根據公司此前已授權的回購計劃，在2024年6月30日，公司已回購了726,616股美國存托股份證書，平均價格約爲7.5美元/股，總金額約爲540萬美元。
Analysis of our Financial Results for the First Half of 2024
2024年上半年財務業績分析
Revenues
收入
Total net revenues were RMB1.1 billion (US$154.0 million) for the first half of 2024, representing a decrease of 42.7% from RMB2.0 billion for the corresponding period in 2023.
2024年上半年總淨收入爲11億人民幣（1億5400萬美元），較2023年同期的20億元減少了42.7%。
-
Net revenues for agency business were RMB901.0 million (US$124.0 million) for the first half of 2024, representing a decrease of 48.6% from RMB1.8 billion for the corresponding period in 2023. Total GWP was RMB8.8 billion for the first half of 2024, remaining stable compared to the same period of 2023, of which FYP decreased by 43.7% year-over-year to RMB1.4 billion while renewal premiums grew by 16.7% year-over-year to RMB7.4 billion.
-
Net revenues for the life insurance business were RMB828.6 million (US$114.0 million) for the first half of 2024, representing a decrease of 50.2% from RMB1.7 billion for the corresponding period in 2023. The decrease was mainly due to i) the decrease in commission rates paid by insurance companies and decline in sales volume as the result of the implementation of the "Unified Commissions and Fees in Reporting and Underwriting" policy which imposed a commission cap in the broker and agency channel and ii) a relatively high base from the sales spike before the downward pricing rate adjustment of life insurance products from 3.5% to 3%. Total life insurance GWP decreased by 0.7% year-over-year to RMB8.6 billion, of which life insurance FYP decreased by 48.3% year-over-year to RMB1.2 billion while renewal premiums grew by 16.7% year-over-year to RMB7.4 billion.
Net revenues generated from our life insurance business accounted for 73.8% of our total net revenues in the first half of 2024, as compared to 84.8% in the same period of 2023.
- Net revenues for the non-life insurance business (formerly categorized as "property and casualty insurance business") were RMB72.4 million (US$10.0 million) for the first half of 2024, representing a decrease of 18.9% from RMB89.3 million for the corresponding period in 2023. Net revenues generated from the non-life insurance business accounted for 6.4% of our total net revenues in the first half of 2024, as compared to 4.6% in the same period of 2023.
-
Net revenues for the life insurance business were RMB828.6 million (US$114.0 million) for the first half of 2024, representing a decrease of 50.2% from RMB1.7 billion for the corresponding period in 2023. The decrease was mainly due to i) the decrease in commission rates paid by insurance companies and decline in sales volume as the result of the implementation of the "Unified Commissions and Fees in Reporting and Underwriting" policy which imposed a commission cap in the broker and agency channel and ii) a relatively high base from the sales spike before the downward pricing rate adjustment of life insurance products from 3.5% to 3%. Total life insurance GWP decreased by 0.7% year-over-year to RMB8.6 billion, of which life insurance FYP decreased by 48.3% year-over-year to RMB1.2 billion while renewal premiums grew by 16.7% year-over-year to RMB7.4 billion.
- 2024年上半年代理業務的淨營收爲90100萬人民幣（12400萬美元），與2023年同期的18億人民幣相比，下降了48.6%。2024年上半年，總保費爲88億人民幣，與2023年同期相比保持穩定，其中首年保費同比下降43.7%至14億人民幣，而續期保費同比增長16.7%至74億人民幣。
- 2024年上半年人身保險業務的淨營收爲82860萬人民幣（11400萬美元），與2023年同期的17億人民幣相比，下降了50.2%。這一減少主要是因爲：i）保險公司支付的佣金率下降，保險公司銷售量因「報告與承銷中的統一佣金和費用」政策的實施而下降，該政策在券商和代理渠道設定了佣金上限；ii）人身保險產品的定價率從3.5%調整爲3%之前的銷售峯值較高。總人身保險總保費同比下降0.7%至86億人民幣，其中首年保費同比下降48.3%至12億人民幣，而續期保費同比增長16.7%至74億人民幣。
2024年上半年我們的人身保險業務產生的淨營收佔總淨營收的73.8%，而2023年同期爲84.8%。
- 2024年上半年非人身保險業務（以前歸類爲「財產和意外傷害保險業務」）的淨營收爲7240萬人民幣（1000萬美元），與2023年同期的8930萬人民幣相比，下降了18.9%。2024年上半年，非人身保險業務產生的淨營收佔總淨營收的6.4%，而2023年同期爲4.6%。
- 2024年上半年人身保險業務的淨營收爲82860萬人民幣（11400萬美元），與2023年同期的17億人民幣相比，下降了50.2%。這一減少主要是因爲：i）保險公司支付的佣金率下降，保險公司銷售量因「報告與承銷中的統一佣金和費用」政策的實施而下降，該政策在券商和代理渠道設定了佣金上限；ii）人身保險產品的定價率從3.5%調整爲3%之前的銷售峯值較高。總人身保險總保費同比下降0.7%至86億人民幣，其中首年保費同比下降48.3%至12億人民幣，而續期保費同比增長16.7%至74億人民幣。
- Net revenues for the claims adjusting business were RMB222.1 million (US$30.6 million) for the first half of 2024, representing an increase of 7.0% from RMB207.6 million for the corresponding period in 2023. The increase was mainly due to the growth in auto insurance claims adjusting business. Net revenues generated from the claims adjusting business accounted for 19.8% of our total net revenues in the first half of 2024, as compared to 10.6% in the same period of 2023.
- 2024年上半年理賠調查業務的淨營收爲22210萬人民幣（3060萬美元），與2023年同期的20760萬人民幣相比，增長了7.0%。這一增長主要是由汽車保險理賠業務的增長所致。2024年上半年，理賠調查業務產生的淨營收佔總淨營收的19.8%，而2023年同期爲10.6%。
Gross profit
毛利潤
Total gross profit was RMB424.6 million (US$58.4 million) for the first half of 2024, representing a decrease of 29.0% from RMB597.7 million for the corresponding period in 2023. By product line, the results were:
2024年上半年總毛利爲人民幣42460萬（5840萬美元），較2023年同期的人民幣59770萬減少了29.0%。按產品線劃分，結果如下：
- Life insurance business recorded a gross profit of RMB323.8 million (US$44.6 million), representing a decrease of 35.2% from RMB500.0 million for the first half of 2023. The decrease was largely in line with the decrease in net revenues. Gross margin for the period was 39.1%, as compared with 30.1% in the same period of 2023.
- 壽險業務的總毛利爲人民幣32380萬（4460萬美元），較2023年上半年的人民幣50000萬減少了35.2%。此減少與淨收入下降基本持平。該期間的毛利率爲39.1%，而2023年同期爲30.1%。
- Non-life insurance business recorded a gross profit of RMB26.1 million (US$3.6 million), representing an increase of 10.6% from RMB23.6 million for the first half of 2023, primarily due to the increased contribution from higher margin insurance brokerage business. Gross margin for the period was 36.0%, as compared with 26.4% in the same period of 2023.
- 非壽險業務的總毛利爲人民幣2610萬（360萬美元），較2023年上半年的人民幣2360萬增加了10.6%，主要是由於較高毛利的保險經紀業務貢獻增加。該期間的毛利率爲36.0%，而2023年同期爲26.4%。
- Claims adjusting business recorded a gross profit of RMB74.8 million (US$10.3 million), representing an increase of 0.8% from RMB74.2 million for the first half of 2023. Gross margin for the period was 33.8%, as compared with 35.7% in the same period of 2023.
- 理賠調整業務的總毛利爲人民幣7480萬（1030萬美元），較2023年上半年的人民幣7420萬增加了0.8%。該期間的毛利率爲33.8%，而2023年同期爲35.7%。
Operating expenses
營業費用
Selling expenses were RMB110.1 million (US$15.2 million) for the first half of 2024, representing a decrease of 15.8% from RMB130.8 million for the corresponding period in 2023. The decrease was primarily due to cost savings from personnel optimization and decreased number of our sales outlets.
2024上半年銷售費用爲1.101億元人民幣（1520萬美元），較2023年對應期的1.308億元人民幣下降15.8%。下降主要是由於人員優化和銷售門店數量減少所帶來的成本節省。
General and administrative expenses were RMB259.6 million (US$35.7 million) for the first half of 2024, representing a decrease of 19.0% from RMB320.5 million for the corresponding period in 2023. The decrease was mainly due to personnel optimization and decreased rental costs of branch offices at provincial level.
2024上半年管理費用爲2.596億元人民幣（3570萬美元），較2023年對應期的3.205億元人民幣下降19.0%。這主要是由於人員優化和省級分行租金成本的減少所致。
As a result of the foregoing factors, we recorded operating income of RMB54.9 million (US$7.6 million) for the first half of 2024, representing a decrease of 62.5% from RMB146.4 million for the corresponding period in 2023.
由於上述原因，我們2024年上半年的營業收入爲5490萬元人民幣（760萬美元），較2023年同期的1.464億元人民幣下降62.5%。
Operating margin was 4.9% for the first half of 2024, compared to 7.5% for the corresponding period in 2023.
2024年上半年營業利潤率爲4.9%，較2023年同期的7.5%下降。
Loss from fair value change was RMB73.7 million (US$10.2 million) for the first half of 2024, which primarily represented an unrealized holding loss of RMB82.5 million (US$11.4 million) in the first half of 2024, to reflect the change in the fair value of the Company's 2.8% equity interests in Cheche Group Inc. ("Cheche"), which was partially offset by an unrealized income of RMB8.8 million (US$1.2 million) representing the fair value change of the contingent consideration in regards to business combinations in the first quarter of 2023.
2024年上半年, 祥碩控股的資產公允價值變動導致損失爲人民幣7370萬元（美元1020萬），主要包括2024年上半年人民幣8250萬元（美元1140萬）的未實現持有虧損，反映了公司對Cheche集團（「Cheche」）2.8%股權的公允價值變動，部分抵銷了2023年第一季度的業務組合相關的未實現收入人民幣880萬元（美元120萬元）的公允價值變動。
Investment income was RMB24.5 million (US$3.4 million) for the first half of 2024, representing a decrease of 2.0% from RMB25.0 million for the corresponding period in 2023. The decrease reflects the periodic fluctuation in yields from short-term investments in financial products as it is recognized when the investment matures or is disposed of.
2024年上半年投資收益爲人民幣2450萬元（美元340萬），比2023年相應期間的人民幣2500萬元減少2.0%。此減少反映了金融產品短期投資收益的週期性波動，當投資到期或處置時予以確認。
Income tax expense was RMB6.7 million (US$0.9 million) for the first half of 2024, representing a decrease of 82.5% from RMB38.3 million for the corresponding period in 2023.
2024年上半年所得稅費用爲人民幣670萬元（美元90萬元），比2023年相應期間的人民幣3830萬元減少82.5%。
As a result of the foregoing factors, net income attributable to the Company's shareholders was RMB4.7 million (US$0.7 million) for the first half of 2024, representing a decrease of 96.6% from RMB137.0 million for the corresponding period in 2023.
因上述因素，祥碩控股歸屬於公司股東的淨利潤爲人民幣470萬元（美元70萬元），比2023年相應期間的人民幣13700萬元減少96.6%。
Net margin was 0.4% for the first half of 2024, as compared to 7.0% for the corresponding period in 2023.
2024年上半年淨利率爲0.4%，而2023年對應時期爲7.0%。
Adjusted EBITDA2 was RMB77.7 million (US$10.7 million) for the first half of 2024, representing a decrease of 56.4% from RMB178.2 million for the corresponding period in 2023.
2024年上半年調整後的息稅折舊與攤銷前利潤爲人民幣7770萬（美元1070萬），較2023年對應時期的人民幣17820萬下降了56.4%。
Adjusted EBITDA margin4 was 6.9% for the first half of 2024, as compared to 9.1% for the corresponding period in 2023.
2024年上半年調整後的息稅折舊與攤銷前利潤率爲6.9%，而2023年對應時期爲9.1%。
Basic and diluted net income per ADS were RMB0.09 (US$0.01) and RMB0.09 (US$0.01) for the first half of 2024, respectively, representing a decrease of 96.5% and 96.5% from RMB2.54 and RMB2.54 for the corresponding period in 2023, respectively.
2024年上半年每股基本和攤薄淨利潤分別爲人民幣0.09（美元0.01），同比2023年對應時期的人民幣2.54和人民幣2.54分別減少了96.5%。
Basic5 and diluted adjusted EBITDA per ADS were RMB1.45 (US$0.20) and RMB1.45 (US$0.20) for the first half of 2024, representing a decrease of 56.2% and 56.2% from RMB3.31 and RMB3.31 for the corresponding period in 2023, respectively.
2024上半年，每股基本與攤薄調整後的EBITDA爲人民幣1.45元（美元0.20元），比2023年同期的人民幣3.31元下降了56.2%。
As of June 30, 2024, the Company had RMB770.1 million (US$106.0 million) in cash, cash equivalents and short-term investments, as compared with RMB1.6 billion as of June 30, 2023. The decrease was due to loans provided to third parties amounting to RMB705 million in the aggregate, among which loans of RMB610 million have been pledged with equity interests as collaterals and fully guaranteed by the controlling shareholder of the debtor as of the date of this announcement. The loans to third parties all have one-year term with an average annual interest rate of 5%.
截至2024年6月30日，公司的現金、現金等價物和短期投資合計爲77,010萬人民幣（1,0600萬美元），而2023年6月30日爲16億人民幣。這是因爲向第三方提供的貸款總額爲70,500萬人民幣，其中61,000萬人民幣的貸款已被擔保的股權作爲抵押品全權由債務人的控股股東作全額擔保。這些貸款的期限均爲一年，平均年利率爲5%。
Fanhua's Insurance Sales and Service Distribution Network:
泛華的保險銷售與服務分銷網絡：
- As of June 30, 2024, excluding newly acquired entities, Fanhua's distribution network consisted of 539 sales outlets in 24 provinces and 69 services outlets in 31 provinces as of June 30, 2024, compared with 606 sales outlets in 24 provinces and 89 services outlets in 31 provinces as of June 30, 2023. The decrease in the number of sales outlets reflected our focus on growing profitable branches, coupled with the challenging decisions to close those which were not yielding profits. The number of the Company's in-house claims adjustors was 2,457 as of June 30, 2024, compared with 2,120 as of June 30, 2023.
- 截至2024年6月30日（不包括新收購的實體），泛華的分銷網絡包括24個省份的539個銷售網點和31個省份的69個服務網點，而2023年6月30日則分別爲24個省份的606個銷售網點和31個省份的89個服務網點。銷售網點數量的減少體現了我們專注於發展盈利的分支機構，並決定關閉不盈利的網點。截至2024年6月30日，公司內部理賠人員數量爲2,457人，而2023年6月30日爲2,120人。
________________________
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| 4 | Adjusted EBITDA margin is defined as adjusted EBITDA as a percentage of net revenues. | |
| 5 | Basic adjusted EBITDA per ADS is defined as adjusted EBITDA divided by total weighted average number of ADSs of the Company outstanding during the period. |
| 4 | 調整後的EBITDA利潤率定義爲調整後的EBITDA佔淨收入的百分比。 | |
| 5 | 每股基本調整後的EBITDA定義爲調整後的EBITDA除以公司在該期間持有的總ADS的加權平均數。 |
About Fanhua Inc.
關於泛華控股集團
Driven by its digital technologies and professional expertise in the insurance industry, Fanhua Inc. is the leading independent financial service provider in China, focusing on providing insurance-oriented family asset allocation services that covers customers' full lifecycle and a one-stop service platform for individual sales agents and independent insurance intermediaries.
憑藉其在保險行業的數字技術和專業專長，泛華控股集團是中國領先的獨立金融服務提供商，專注於提供以保險爲導向的家庭資產配置服務，涵蓋客戶的整個生命週期，併爲個人銷售代理人和獨立保險中介提供一站式服務平台。
With strategic focus on long-term life insurance products, we offer a broad range of insurance products, claims adjusting services and various value-added services to meet customers' diverse needs, through an extensive network of digitally empowered sales agents and professional claims adjustors. We also operate Baowang (), an online insurance platform that provides customers with a one-stop insurance shopping experience.
我們專注於長期人壽保險產品，爲客戶提供廣泛的保險產品、理賠調整服務和各種增值服務，以滿足客戶多樣化的需求，通過一個龐大的數字化銷售代理人和專業理賠調整員網絡。我們還經營着保望（Baowang），這是一個在線保險平台，爲客戶提供一站式保險購物體驗。
For more information about Fanhua Inc., please visit
有關泛華控股集團的更多信息，請訪問
Forward-looking Statements
前瞻性聲明
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, 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 including macroeconomic conditions in China. 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.
本新聞稿包含具有前瞻性質的聲明。這些聲明，包括涉及公司未來財務和營業結果的聲明，均在1995年美國私人證券訴訟改革法案的「安全港」條款下作出。您可以通過諸如「將」，「預計」，「相信」，「預期」，「打算」，「估計」等術語來識別這些前瞻性聲明。管理層的引語和業務展望部分包含前瞻性聲明。這些前瞻性聲明涉及已知和未知的風險和不確定因素，並基於關於泛華和行業的當前期望、假設、估計和展望。潛在的風險和不確定性包括但不限於，其吸引和留住高效代理人，特別是創業代理人，保持現有並開發新的與保險公司的業務關係的能力，執行其增長策略的能力，適應中國保險行業不斷變化的監管環境的能力，有效競爭其競爭對手的能力，由於中國宏觀經濟狀況等因素引起的其營業結果季度性波動的原因是超出其控制範圍的。除非另有說明，本新聞稿中提供的所有信息截至本日期，泛華不承擔更新任何前瞻性聲明以反映後續發生事件或情形，或更改其期望的義務，除非法律要求。儘管泛華認爲這些前瞻性聲明中表達的期望是合理的，但它不能向您保證其期望會被證明是正確的，投資者被警告實際結果可能會與預期結果大不相同。泛華面臨的風險和不確定性的更多信息已包含在泛華在美國證券交易委員會提交的文件中，包括其20-F表格的年度報告。
About Non-GAAP Financial Measures
有關非依據美國通用會計原則測量的財務指標
In addition to the Company's consolidated financial results under generally accepted accounting principles in the United States ("GAAP"), the Company also provides adjusted EBITDA, adjusted EBITDA margin and basic and diluted adjusted EBITDA per ADS, all of which are non-GAAP financial measures, as supplemental measures to review and assess operating performance. Adjusted EBITDA is defined as net income before income tax expense, share of loss of affiliates, investment income, interest income, financial cost, depreciation, amortization of intangible assets, share-based compensation expenses and change in fair value of equity investments and contingent consideration. Adjusted EBITDA margin is defined as adjusted EBITDA as a percentage of net revenues. Basic adjusted EBITDA per ADS is defined as adjusted EBITDA divided by total weighted average number of ADSs of the Company outstanding during the period. Diluted adjusted EBITDA per ADS is defined as adjusted EBITDA divided by total weighted average number of diluted ADSs of the Company outstanding during the period. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing the Company's performance and when planning and forecasting future periods. The Company's non-GAAP financial measures do not reflect all items of income and expenses that affect the Company's operations. Specifically, the Company's non-GAAP measures exclude interest income, investment income, financial cost, income tax expense, depreciation, amortization of intangible assets, share of loss of affiliates, share-based compensation expenses and change in fair value of equity investments and contingent consideration. Further, these non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies, including peer companies. The presentation of these non-GAAP financial measures has limitations as analytical tools, and investors should not consider them in isolation from, or as a substitute for analysis of, the financial information prepared and presented in accordance with GAAP. We encourage investors and other interested persons to review our financial information in its entirety and not rely on a single financial measure.
除根據美國通用會計準則（「GAAP」）編制的公司合併財務報告外，公司還提供調整後的EBITDA，調整後的EBITDA利潤率以及每股基本和稀釋調整後的EBITDA，這些都是非GAAP財務指標，作爲補充措施來審查和評估運營業績. 調整後的EBITDA的定義爲稅前淨利潤，聯營公司損失份額，投資收益，利息收入，財務成本，折舊，無形資產的攤銷，股權投資和有限條件的公平價值變動；調整後的EBITDA利潤率定義爲調整後的EBITDA佔淨收入的百分比；每股基本調整後的EBITDA定義爲期間內公司流通在外的ADS的加權平均數除以調整後的EBITDA；每股稀釋調整後的EBITDA定義爲期間內公司稀釋在外的ADS的加權平均數除以調整後的EBITDA. 公司認爲，在評估公司業績並進行規劃和預測未來期間時，管理層和投資者都能從參考這些非GAAP財務指標中受益. 公司的非GAAP財務指標未反映所有影響公司運營的收入和費用項目. 具體而言，公司的非GAAP指標不包括利息收入，投資收益，財務成本，所得稅費用，折舊，無形資產的攤銷，聯營公司損失份額，股權激勵費用以及股權投資的公平價值變動和有限條件的確定. 此外，這些非GAAP財務指標可能與其他公司（包括同行公司）呈現的同類指標不可比較. 顯示這些非GAAP財務指標的限制是分析工具，投資者不應將其孤立看待，也不應作爲根據GAAP編制和呈現的財務信息的替代分析. 我們鼓勵投資者和其他相關人士將我們的財務信息作爲一個整體進行審查，並不僅依賴單一財務指標.
For more information on these non-GAAP financial measures, please see the tables captioned "Reconciliations of Net Income to Adjusted EBITDA and Adjusted EBITDA Margin" set forth at the end of this press release.
有關這些非GAAP財務指標的更多信息，請參見本新聞稿末尾所附的"將淨利潤與調整後的EBITDA及調整後的EBITDA利潤率對賬表"。
|
FANHUA INC. Unaudited Condensed Consolidated Balance Sheets (In thousands) | |||||||||||
| As of December 31, | As of June 30, | As of June 30, | |||||||||
| 2023 | 2024 | 2024 | |||||||||
| RMB | RMB | US$ | |||||||||
| ASSETS: | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | 521,538 | 189,527 | 26,080 | ||||||||
| Restricted cash | 53,238 | 47,920 | 6,594 | ||||||||
| Short term investments | 928,270 | 580,606 | 79,894 | ||||||||
| Accounts receivable, net | 639,418 | 582,516 | 80,157 | ||||||||
| Other receivables | 111,770 | 714,383 | 98,302 | ||||||||
| Other current assets | 121,331 | 44,344 | 6,102 | ||||||||
| Total current assets | 2,375,565 | 2,159,296 | 297,129 | ||||||||
| Non-current assets: | |||||||||||
| Restricted bank deposit – non-current | 27,228 | 26,783 | 3,685 | ||||||||
| Contract assets, net - non-current | 711,424 | 726,879 | 100,022 | ||||||||
| Property, plant, and equipment, net | 91,659 | 86,223 | 11,865 | ||||||||
| Goodwill and intangible assets, net | 432,465 | 421,851 | 58,050 | ||||||||
| Deferred tax assets | 40,735 | 35,250 | 4,851 | ||||||||
| Investment in affiliates | - | 8,614 | 1,185 | ||||||||
| Other non-current assets | 235,752 | 244,166 | 33,598 | ||||||||
| Right of use assets | 136,056 | 112,011 | 15,413 | ||||||||
| Total non-current assets | 1,675,319 | 1,661,777 | 228,669 | ||||||||
| Total assets | 4,050,884 | 3,821,073 | 525,798 | ||||||||
| FANHUA INC. 未經審計的簡明合併資產負債表 （以千爲單位） | |||||||||||
| 截至12月31日， | 截至6月30日， | 截至6月30日， | |||||||||
| 2023 | 2024 | 2024 | |||||||||
| 人民幣 | 人民幣 | 美元 | |||||||||
| 資產: | |||||||||||
| 流動資產： | |||||||||||
| 現金及現金等價物 | 521,538 | 189,527 | 26,080 | ||||||||
| 受限現金 | 53,238 | 47,920 | 6,594 | ||||||||
| 短期投資 | 928,270 | 580,606 | 79,894 | ||||||||
| 2,687,823 | 639,418 | 582,516 | 80,157 | ||||||||
| 其他應收款 | 111,770 | 714,383 | 98302 | ||||||||
| 其他資產 | 121331 | 44,344 | 6,102 | ||||||||
| 總流動資產 | 2,375,565 | 2,159,296 | 297,129 | ||||||||
| 非流動資產： | |||||||||||
| 受限銀行存款-非流動資產 | 27,228 | 26,783 | 3,685 | ||||||||
| 合同資產淨額 - 非流動資產 | 711,424 | 726,879 | 100,022 | ||||||||
| 固定資產淨額 | 91,659 | 86,223 | 11,865 | ||||||||
| 商譽和無形資產，淨值 | 432,465 | 421,851 | 58,050 | ||||||||
| 遞延所得稅資產 | 40,735 | 35,250 | 4,851 | ||||||||
| 對關聯公司的投資 | - | 8,614 | 1,185 | ||||||||
| 其他非流動資產 | 235,752 | 244,166 | 165,975股普通股的轉讓:由於股票期權行權和限制性股票單位歸屬，以及其他股權獎勵措施，但未考慮扣除相關稅款和支付費用。 | ||||||||
| 使用權資產 | 136,056 | 112,011 | 15,413 | ||||||||
| 總非流動資產 | 1,675,319 | 1,661,777 | 228,669 | ||||||||
| 總資產 | 4,050,884 | 3,821,073 | 525,798 | ||||||||
| Current liabilities: | |||||||||||
| Short-term loan | 164,300 | 98,375 | 13,537 | ||||||||
| Accounts payable | 406,807 | 337,807 | 46,484 | ||||||||
| Insurance premium payables | 14,943 | 10,418 | 1,434 | ||||||||
| Other payables and accrued expenses | 185,999 | 177,787 | 24,464 | ||||||||
| Accrued payroll | 94,305 | 62,566 | 8,609 | ||||||||
| Income tax payable | 100,260 | 96,780 | 13,317 | ||||||||
| Current operating lease liability | 57,164 | 49,521 | 6,814 | ||||||||
| Total current liabilities | 1,023,778 | 833,254 | 114,659 | ||||||||
| Non-current liabilities: | |||||||||||
| Accounts payable – non-current | 401,385 | 408,416 | 56,200 | ||||||||
| Other tax liabilities | 34,368 | 29,722 | 4,090 | ||||||||
| Deferred tax liabilities | 149,151 | 144,808 | 19,926 | ||||||||
| Non-current operating lease liability | 71,311 | 57,707 | 7,941 | ||||||||
| Other non-current liabilities | 33,373 | 33,375 | 4,593 | ||||||||
| Total non-current liabilities | 689,588 | 674,028 | 92,750 | ||||||||
| Total liabilities | 1,713,366 | 1,507,282 | 207,409 | ||||||||
| Ordinary shares | 8,675 | 8,675 | 1,194 | ||||||||
| Treasury stock | (178) | (197) | (27) | ||||||||
| Additional Paid-in capital | 162,721 | 177,993 | 24,493 | ||||||||
| Statutory reserves | 608,376 | 608,376 | 83,715 | ||||||||
| Retained earnings | 1,319,605 | 1,324,343 | 182,236 | ||||||||
| Accumulated other comprehensive loss | (27,936) | (33,208) | (4,570) | ||||||||
| Total shareholders' equity | 2,071,263 | 2,085,982 | 287,041 | ||||||||
| Non-controlling interests | 266,255 | 227,809 | 31,348 | ||||||||
| Total equity | 2,337,518 | 2,313,791 | 318,389 | ||||||||
| Total liabilities and equity | 4,050,884 | 3,821,073 | 525,798 | ||||||||
| 流動負債: | |||||||||||
| 短期貸款 | 164,300 | 98,375 | 13,537 | ||||||||
| 應付賬款 | 406,807 | 337,807 | 7,267 | ||||||||
| 保險費應付款 | 14,943 | 10,418 | 1,434 | ||||||||
| 其他應付款及預提費用 | 185,999 | 177,787 | 24,464 | ||||||||
| 應計工資 | 94,305 | 62,566 | 8,609 | ||||||||
| 應交所得稅 | 100,260 | 96,780 | 13,317 | ||||||||
| 當前的運營租賃負債 | 57,164 | 49,521 | 6,814 | ||||||||
| 流動負債合計 | 1,023,778 | 833,254 | 114,659 | ||||||||
| 非流動負債: | |||||||||||
| 長期應付款 | 401,385 | 408,416 | 56,200 | ||||||||
| 其他稅項負債 | 34,368 | 29,722 | 4,090 | ||||||||
| 遞延稅款負債 | 149,151 | 144,808 | 19,926 | ||||||||
| 非流動經營租賃負債 | 71,311 | 57,707 | 7,941 | ||||||||
| 其他非流動負債 | 33,373 | 33,375 | 4,593 | ||||||||
| 所有非流動負債 | 689,588 | 674,028 | 92,750 | ||||||||
| 負債合計 | 1,713,366 | 1,507,282 | 207,409 | ||||||||
| 普通股 | 8,675 | 8,675 | 1,194 | ||||||||
| 自家保管的股票 | （178） | （197） | (27) | ||||||||
| 增資 | 162,721 | 177,993 | 24,493 | ||||||||
| 法定儲備金 | 608,376 | 608,376 | 83,715 | ||||||||
| 保留盈餘 | 1,319,605 | 1,324,343 | 182,236 | ||||||||
| 累計其他綜合損失 | （27,936） | (33,208) | （4,570） | ||||||||
| 股東權益合計 | 2,071,263 | 2,085,982 | 287,041 | ||||||||
| 非控股權益 | 266,255 | 227,809 | 31,348 | ||||||||
| 股東權益總計 | 2,337,518 | 2,313,791 | 318,389 | ||||||||
| 負債和所有者權益總額 | 4,050,884 | 3,821,073 | 525,798 | ||||||||
|
FANHUA INC. Unaudited Condensed Consolidated Statements of Income and Comprehensive Income (In thousands, except for shares and per share data) | |||||||||||
| For the Six Months Ended | |||||||||||
| December 31, | |||||||||||
| 2023 | 2024 | 2024 | |||||||||
| RMB | RMB | US$ | |||||||||
| Net revenues: | |||||||||||
| Agency | 1,752,742 | 901,064 | 123,990 | ||||||||
| Life insurance business | 1,663,463 | 828,621 | 114,022 | ||||||||
| Non-life insurance business | 89,279 | 72,443 | 9,968 | ||||||||
| Claims adjusting | 207,635 | 222,114 | 30,565 | ||||||||
| Total net revenues | 1,960,377 | 1,123,178 | 154,555 | ||||||||
| Operating costs and expenses: | |||||||||||
| Agency | (1,229,172) | (551,247) | (75,854) | ||||||||
| Life insurance business | (1,163,502) | (504,866) | (69,472) | ||||||||
| Non-life insurance business | (65,670) | (46,381) | (6,382) | ||||||||
| Claims adjusting | (133,479) | (147,333) | (20,274) | ||||||||
| Total operating costs | (1,362,651) | (698,580) | (96,128) | ||||||||
| Selling expenses | (130,802) | (110,122) | (15,153) | ||||||||
| General and administrative expenses | (320,537) | (259,566) | (35,717) | ||||||||
| Total operating costs and expenses | (1,813,990) | (1,068,268) | (146,998) | ||||||||
| Income from operations | 146,387 | 54,910 | 7,557 | ||||||||
| Other income (loss), net: | |||||||||||
| Loss from fair value change | — | (73,761) | (10,150) | ||||||||
| Investment income | 24,957 | 24,451 | 3,365 | ||||||||
| Interest income | 9,097 | 8,586 | 1,180 | ||||||||
| Financial cost | (4,682) | (960) | (132) | ||||||||
| Others, net | 6,482 | (3,216) | (443) | ||||||||
| Income from operations before income taxes and share income of affiliates | 182,241 | 10,010 | 1,377 | ||||||||
| Income tax expense | (38,289) | (6,659) | (916) | ||||||||
| Share of loss of affiliates | (540) | (1,121) | (154) | ||||||||
| Net income | 143,412 | 2,230 | 307 | ||||||||
| Less: net (loss) income attributable to non-controlling interests | 6,445 | (2,508) | (345) | ||||||||
| Net income attributable to the Company's shareholders | 136,967 | 4,738 | 652 | ||||||||
| FANHUA INC. 未審計的綜合收益和綜合收益簡明合併財務報表 (以千爲單位，除股份和每股數據以外) | |||||||||||
| 截至2022年六月30日的六個月 | |||||||||||
| 12月31日 | |||||||||||
| 2023 | 2024 | 2024 | |||||||||
| 人民幣 | 人民幣 | 美元 | |||||||||
| 淨收入： | |||||||||||
| 代理 | 1,752,742 | 901,064 | 123,990 | ||||||||
| 人壽保險業務 | 1,663,463 | 828,621 | 114,022 | ||||||||
| 非人壽保險業務 | 89,279 | 72,443 | 9,968 | ||||||||
| 理賠調整 | 207,635 | 30,565 | |||||||||
| 總淨收入 | 1,960,377 | 1,123,178 | 154,555 | ||||||||
| 經營成本和費用： | |||||||||||
| 代理 | (1,229,172) | （551,247） | （75,854） | ||||||||
| 人壽保險業務 | (1,163,502) | (504,866) | (69,472) | ||||||||
| 非人壽保險業務 | (65,670) | (46,381) | (6,382) | ||||||||
| 理賠調整 | (133,479) | (147,333) | (20,274) | ||||||||
| 總運營成本 | (1,362,651) | (698,580) | (96,128) | ||||||||
| 銷售費用 | (130,802) | (110,122) | (15,153) | ||||||||
| 一般及管理費用 | (320,537) | (259,566) | (35,717) | ||||||||
| 總運營成本和費用 | (1,813,990) | (1,068,268) | (146,998) | ||||||||
| 營業利潤 | 146,387 | 54,910 | 7,557 | ||||||||
| 其他收益（損失），淨額： | |||||||||||
| 公允價值變動損失 | — | (73,761) | (10150) | ||||||||
| 投資收益 | 24,957 | 24,451 | 3,365 | ||||||||
| 利息收入 | 9,097 | 8,586 | 1,180 | ||||||||
| 財務費用 | （4,682） | (960) | (132) | ||||||||
| 其他, 淨額 | 6,482 | （3,216） | (443) | ||||||||
| 稅前營業收入和附屬公司的利潤分配 | 182,241 | 10,010 | 1,377 | ||||||||
| 所得稅費用 | (38,289) | (6,659) | （916） | ||||||||
| 關聯公司損失所佔份額 | (540) | (1,121) | (154) | ||||||||
| 淨收入 | 143,412 | 2,230 | 307 | ||||||||
| 6,445 | (2,508) | (345) | |||||||||
| 淨利潤歸屬於公司股東的金額 | 136,967 | 4,738 | 652 | ||||||||
|
FANHUA INC. Unaudited Condensed Consolidated Statements of Income and Comprehensive Income-(Continued) (In thousands, except for shares and per share data) | |||||||||||
| For The Six Months Ended | |||||||||||
| June 30, | |||||||||||
| 2023 | 2024 | 2024 | |||||||||
| RMB | RMB | US$ | |||||||||
| Net incomeper share: | |||||||||||
| Basic | 0.13 | 0.01 | — | ||||||||
| Diluted | 0.13 | 0.01 | — | ||||||||
| Net incomeper ADS: | |||||||||||
| Bsic | 2.54 | 0.09 | 0.01 | ||||||||
| Diluted | 2.54 | 0.09 | 0.01 | ||||||||
| Shares used in calculating net income per share: | |||||||||||
| Basic | 1,077,103,934 | 1,066,793,835 | 1,066,793,835 | ||||||||
| Diluted | 1,077,451,347 | 1,069,840,827 | 1,069,840,827 | ||||||||
| Net income | 143,412 | 2,230 | 307 | ||||||||
| Other comprehensive income, net of tax: Foreign currency translation adjustments | 8,880 | 783 | 108 | ||||||||
| Unrealized net (losses) gains on available-for-sale investments | 2,695 | (6,054) | (833) | ||||||||
| Comprehensive income (loss) | 154,987 | (3,041) | (418) | ||||||||
| Less: | |||||||||||
| Comprehensive (loss) income attributable to the non-controlling interests | 6,445 | (2,508) | (345) | ||||||||
| Comprehensive income (loss) attributable to the Company's shareholders | 148,542 | (533) | (73) | ||||||||
| FANHUA INC. 未經審計的簡明合併利潤表和綜合收益表（續） (以千爲單位，除股份和每股數據以外) | |||||||||||
| 截至六個月的結束 | |||||||||||
| 6月30日, | |||||||||||
| 2023 | 2024 | 2024 | |||||||||
| 人民幣 | 人民幣 | 美元 | |||||||||
| 每股淨利潤： | |||||||||||
| 基本 | 0.13 | 0.01 | — | ||||||||
| 稀釋的 | 0.13 | 0.01 | — | ||||||||
| 淨利潤每股收益： | |||||||||||
| 基礎 | 2.54 | 0.09 | 0.01 | ||||||||
| 稀釋的 | 2.54 | 0.09 | 0.01 | ||||||||
| 用於計算每股淨利潤的股份： | |||||||||||
| 基本 | 10.771 億 103 萬 934 | 10.667 億 793 萬 835 | 10.667 億 793 萬 835 | ||||||||
| 稀釋的 | 10億7745萬1347 | 10億6984萬827 | 10億6984萬827 | ||||||||
| 淨收入 | 143,412 | 2,230 | 307 | ||||||||
| 其他綜合收益，淨稅：外幣翻譯調整 | 8,880 | 783 | 108 | ||||||||
| 可供出售投資的未實現淨（損失）收益 | 2,695 | （6,054） | （833） | ||||||||
| 綜合收益（損失） | 154,987 | (3,041) | (418) | ||||||||
| 減： | |||||||||||
| 非控股權益歸屬於綜合（損失）收益 | 6,445 | (2,508) | (345) | ||||||||
| 綜合收益（虧損）歸屬於公司股東 | 148,542 | (533) | (73) | ||||||||
|
FANHUA INC. Unaudited Condensed Consolidated Statements of Cash Flow (In thousands, except for shares and per share data) | |||||||||||
| For the Six Months Ended | |||||||||||
| June 30, | |||||||||||
| 2023 | 2024 | 2024 | |||||||||
| RMB | RMB | US$ | |||||||||
| OPERATING ACTIVITIES | |||||||||||
| Net income | 143,412 | 2,230 | 307 | ||||||||
| Adjustments to reconcile net income to net cash generated from operating activities: | |||||||||||
| Investment income | (6,989) | (5,256) | (723) | ||||||||
| Share of loss of affiliates | 540 | 1,121 | 154 | ||||||||
| Other non-cash adjustments | 74,859 | 145,765 | 20,058 | ||||||||
| Changes in operating assets and liabilities | (178,173) | (110,934) | (15,265) | ||||||||
| Net cash generated from operating activities | 33,649 | 32,926 | 4,531 | ||||||||
| Cash flows from investing activities: | |||||||||||
| Purchase of short-term investments | (2,103,010) | (1,617,780) | (222,614) | ||||||||
| Proceeds from disposal of short-term investments | 1,823,149 | 1,962,588 | 270,061 | ||||||||
| Cash rendered for loan receivables from third parties | (80,000) | (728,800) | (100,286) | ||||||||
| Cash received for loan receivables from third parties | 180,000 | 130,500 | 17,957 | ||||||||
| Cash acquired from business acquisitions | 21,208 | — | — | ||||||||
| Disposal of subsidiaries, net of cash disposed | — | (12,761) | (1,756) | ||||||||
| Others | (6,185) | (3,982) | (548) | ||||||||
| Net cash used in investing activities | (164,838) | (270,235) | (37,186) | ||||||||
| Cash flows from financing activities: | |||||||||||
| Proceeds from bank and other borrowings | 182,268 | 98,375 | 13,537 | ||||||||
| Repayment of bank and other borrowings | (18,026) | (164,300) | (22,608) | ||||||||
| Repurchase of ordinary shares from open market | (22,107) | (5,734) | (789) | ||||||||
| Dividend distributed to non-controlling interest | — | (29,500) | (4,059) | ||||||||
| Others | (4,238) | — | — | ||||||||
| Net cash generated from (used in) financing activities | 137,897 | (101,159) | (13,919) | ||||||||
| Net increase (decrease) in cash, cash equivalents and restricted cash | 6,708 | (338,468) | (46,574) | ||||||||
| Cash, cash equivalents and restricted cash at beginning of period | 648,211 | 602,004 | 82,839 | ||||||||
| Effect of exchange rate changes on cash and cash equivalents | 6,668 | 694 | 94 | ||||||||
| Cash, cash equivalents and restricted cash at end of period | 661,587 | 264,230 | 36,359 | ||||||||
| FANHUA INC. 未經審計的現金流量表 (以千爲單位，除股份和每股數據以外) | |||||||||||
| 截至2022年六月30日的六個月 | |||||||||||
| 6月30日, | |||||||||||
| 2023 | 2024 | 2024 | |||||||||
| 人民幣 | 人民幣 | 美元 | |||||||||
| 營業收入 | |||||||||||
| 淨收入 | 143,412 | 2,230 | 307 | ||||||||
| 調整以使淨利潤與經營活動產生的現金淨額相符： | |||||||||||
| 投資收益 | (6,989) | （5,256） | (723) | ||||||||
| 關聯公司損失所佔份額 | 540 | 1,121 | 154 | ||||||||
| 其他非現金調整 | 74,859 | 145,765 | 20,058 | ||||||||
| 營運資產和負債的變化 | (178,173) | (110,934) | (15,265) | ||||||||
| 現金淨流量來源於運營活動 | 33,649 | 32,926 | 4,531 | ||||||||
| 投資活動現金流量： | |||||||||||
| 購買短期投資 | （2,103,010） | （1,617,780） | (222,614) | ||||||||
| 短期投資的處置所得 | 1,823,149 | 1,962,588 | 270,061 | ||||||||
| 從第三方獲得的貸款應收款項的現金收到 | (80,000) | (728,800) | (100,286) | ||||||||
| 從第三方獲得的貸款應收款項的現金付出 | 180,000 | 130,500 | 17,957 | ||||||||
| 從業務收購獲得的現金 | 21,208 | — | — | ||||||||
| 處置子公司，扣除處置現金淨額 | — | (12,761) | （1,756） | ||||||||
| 其他 | (6,185) | （3,982） | （548） | ||||||||
| 投資活動產生的淨現金流出 | (164,838) | (270,235) | (37,186) | ||||||||
| 籌集資金的現金流量： | |||||||||||
| 來自銀行和其他借款的收益 | 182,268 | 98,375 | 13,537 | ||||||||
| 銀行和其他借款的償還 | （18,026） | （164,300） | （22,608） | ||||||||
| 從開放市場回購普通股 | (22,107) | (5,734) | (789) | ||||||||
| 分配給非控制股權的股息 | — | (29,500) | (4,059) | ||||||||
| 其他 | (4,238) | — | — | ||||||||
| 籌資活動的淨現金流量 | 137,897 | (101,159) | (13,919) | ||||||||
| 現金、現金等價物及受限制的現金流動淨增長額（減少額） | 6,708 | (338,468) | (46,574) | ||||||||
| 期初現金、現金等價物及受限制的現金餘額 | 648,211 | 602,004 | 82,839 | ||||||||
| 現金及現金等價物匯率變動影響 | 6,668 | 694 | 94 | ||||||||
| 期末現金、現金等價物及受限制的現金餘額 | 661,587 | 264,230 | 36,359 | ||||||||
|
FANHUA INC. Reconciliations of Net Income to Adjusted EBITDA and Adjusted EBITDA Margin (In thousands, except for shares and per share data) | |||||||||||
| For The Six Months Ended | |||||||||||
| June 30 | |||||||||||
| 2023 | 2024 | 2024 | |||||||||
| RMB | RMB | USD | |||||||||
| Net income | 143,412 | 4,738 | 652 | ||||||||
| Income tax expense............................................. | 38,289 | 6,659 | 916 | ||||||||
| Share of loss of affiliates..................................... | 540 | 1,121 | 154 | ||||||||
| Investment income............................................... | (24,957) | (24,451) | (3,365) | ||||||||
| Interest income..................................................... | (9,097) | (8,586) | (1,180) | ||||||||
| Financial cost....................................................... | 4,682 | 960 | 132 | ||||||||
| Depreciation........................................................ | 8,371 | 7,339 | 1,010 | ||||||||
| Amortization of intangible assets........................ | 8,797 | 8,395 | 1,155 | ||||||||
| Share-based compensation expenses................... | 8,184 | 7,729 | 1,064 | ||||||||
| Change in fair value of equity investments and contingent consideration.................................... | — | 73,761 | 10,150 | ||||||||
| Adjusted EBITDA | 178,221 | 77,665 | 10,687 | ||||||||
| Total net revenues................................................ | 1,960,377 | 1,123,177 | 154,554 | ||||||||
| Adjusted EBITDA Margin.................................. | 9.1% | 6.9% | 6.9% | ||||||||
| Adjusted EBITDA per ADS: | |||||||||||
| Basic | 3.31 | 1.46 | 0.20 | ||||||||
| Diluted | 3.31 | 1.45 | 0.20 | ||||||||
| Shares used in calculating adjusted EBITDA per share: | |||||||||||
| Basic | 1,077,103,934 | 1,066,793,835 | 1,066,793,835 | ||||||||
| Diluted | 1,077,451,347 | 1,069,840,827 | 1,069,840,827 | ||||||||
| FANHUA INC. 淨利潤調整至調整後的稅息折舊及攤銷前利潤和調整後的稅息折舊及攤銷前利潤率 (以千爲單位，除股份和每股數據以外) | |||||||||||
| 截至六個月的結束 | |||||||||||
| 6月30日 | |||||||||||
| 2023 | 2024 | 2024 | |||||||||
| 人民幣 | 人民幣 | 美元指數 | |||||||||
| 淨收入 | 143,412 | 4,738 | 652 | ||||||||
| 所得稅費用............................................. | 38,289 | 6,659 | 916 | ||||||||
| 關聯公司的損失份額..................................... | 540 | 1,121 | 154 | ||||||||
| 投資收益............................................... | (24,957) | (24,451) | (3,365) | ||||||||
| 利息收入..................................................... | (9,097) | (8,586) | (1,180) | ||||||||
| 財務成本....................................................... | 4,682 | 960 | 132 | ||||||||
| 折舊 | 8,371 | 7,339 | 1,010 | ||||||||
| 無形資產攤銷........................ | 8,797 | 8,395 | 1,155 | ||||||||
| 股份報酬支出................... | 8,184 | 7,729 | 1,064 | ||||||||
| 股票投資和待攤考慮的公允價值變動 | — | 41,523 | 10,150 | ||||||||
| 調整後的EBITDA | 178,221 | 77,665 | 10,687 | ||||||||
| 總淨收入................................................ | 1,960,377 | 1,123,177 | 154,554 | ||||||||
| 調整後的息稅折舊攤銷前利潤率.................................. | 9.1% | 6.9% | 6.9% | ||||||||
| 每股調整後的EBITDA： | |||||||||||
| 基本 | 3.31 | 1.46 | 0.20 | ||||||||
| 稀釋的 | 3.31 | 1.45 | 0.20 | ||||||||
| 用於計算每股調整後的息稅攤銷前利潤的股份： | |||||||||||
| 基本 | 10.771 億 103 萬 934 | 10.667 億 793 萬 835 | 10.667 億 793 萬 835 | ||||||||
| 稀釋的 | 10億7745萬1347 | 10億6984萬827 | 10億6984萬827 | ||||||||
Source: Fanhua Inc.
來源：泛華控股集團
For more information, please contact:Investor RelationsTel: +86 (20) 8388-3191Email: ir@fanhgroup.com
如需更多信息，請聯繫:投資者關係 電話: +86 (20) 8388-3191 電子郵件: ir@fanhgroup.com
譯文內容由第三人軟體翻譯。