Fanhua reports fourth quarter and fiscal year 2023 unaudited financial results
Guangzhou, china, march 20, 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 fourth quarter and fiscal year ended december 31, 20231. financial highlights for year 2023 (in thousands, except per ads data and percentages) 2022 (rmb) 2023 (rmb) 2023 (us$) change % total net revenues 2,781,614 3,198,389 450,484 15.0 operating income 168,675 195,825 27,581 16.1 net income attributable to shareholders 100,272 280,477 39,504 179.7 adjusted ebitda2 184,786 243,300 34,268 31.7 diluted net income per ads 1.87 5.21 0.74 178.6 cash, cash equivalent, short-term investments at end of the period 915,279 1,449,808 204,201 58.4 key operating metrics total life gross written premiums (“gwp”) 12,408,998 16,109,985 2,269,044 29.8 • first year premium (“fyp”) 2,556,867 3,478,110 489,882 36.0 • renewal premium 9,852,131 12,631,875 1,779,162 28.2 financial highlights for the fourth quarter of 2023:(in thousands, except per ads data and percentages) 2022q4 (rmb) 2023q4 (rmb) 2023q4 (us$) change % total net revenues 767,365 603,392 84,986 (21.4 ) operating income 84,893 16,242 2,288 (80.9 ) net income (loss) attributable to shareholders 70,616 (27,189 ) (3,829 ) n/a adjusted ebitda2 77,103 40,150 5,655 (47.9 ) diluted net income (loss) per ads 1.31 (0.51 ) (0.07 ) n/a key operating metrics total life gross written premiums (“gwp”) 3,465,190 3,969,430 559,083 14.6 • first year premium (“fyp”) 918,822 564,170 79,462 (38.6 ) • renewal premium 2,546,368 3,405,260 479,621 33.7 ________________________ 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.
