Fanhua Announces Its “521 Development Plan”
Fanhua Inc. - American depositary shares, each representing 20 ordinary shares (FANH)
Last fanhua inc. - american depositary shares, each representing 20 ordinary shares earnings: 3/18 04:55 pm
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ir.fanhuaholdings.com
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Source: GlobeNewswire
GUANGZHOU, China, June 14, 2018 (GLOBE NEWSWIRE) -- Fanhua Inc. (Nasdaq:FANH) (the "Company" or "Fanhua"), a leading independent financial services provider operating in China, today announced that its board of directors (the "board") has approved a “521 Development Plan”, aimed at achieving its goals of generating RMB2 billion annual net income and RMB10 billion annual first year premiums of life insurance business after five years. The board is confident this will further strengthen its cash generation capabilities and allow Fanhua to pay steady dividends. Pursuant to the 521 Development Plan, Fanhua intends to set up a “Fanhua Entrepreneurial Fund”, or the Fanhua Fund, to invest in the Company’s stocks. At least 10% of the total subscription cost of the Fanhua Fund will be contributed by the eligible participants and the remaining portion will be funded by loans granted to the participants by the Company, which will bear interest at a rate of 8% per annum. American depositary
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FANH
Sec Filings
- 3/20/24 - Form 6-K
- 3/12/24 - Form S-8
- 3/7/24 - Form F-3
- FANH's page on the SEC website