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.
中國廣州,2024年9月18日(環球新聞專線)——中國領先的獨立金融服務提供商泛華公司(納斯達克股票代碼:FANH)(「公司」 或 「泛華」)今天公佈了截至2024年6月30日的上半年未經審計的財務業績。
Financial Highlights for the First Half of 2024:
2024 年上半年的財務亮點:
(In thousands, except per ADS data and percentages) |
2023H1 (RMB) |
2024H1 (RMB) |
2024H1 (US$) |
Change % | ||||||||
Total net revenues | 1,960,377 | 1,123,178 | 154,555 | (42.7) | ||||||||
Operating income | 146,387 | 54,910 | 7,557 | (62.5) | ||||||||
Loss from fair value change | — | (73,761) | (10,150) | — | ||||||||
Net income attributable to shareholders | 136,967 | 4,738 | 653 | (96.5) | ||||||||
Adjusted EBITDA2 | 178,221 | 77,665 | 10,687 | (56.4) | ||||||||
Diluted net income per ADS | 2.54 | 0.09 | 0.01 | (96.5) | ||||||||
Diluted adjusted EBITDA per ADS3 | 3.31 | 1.45 | 0.20 | (55.2) | ||||||||
Cash, cash equivalent, short-term investments at end of the period | 1,611,554 | 770,133 | 105,974 | (52.2) |
(以千計,每個 ADS 數據和百分比除外) | 2023H1 (人民幣) |
2024H1 (人民幣) |
2024H1 (美元) |
變化% | ||||||||
淨收入總額 | 1,960,377 | 1,123,178 | 154,555 | (42.7) | ||||||||
營業收入 | 146,387 | 54,910 | 7,557 | (62.5) | ||||||||
公允價值變動造成的損失 | — | (73,761) | (10,150) | — | ||||||||
歸屬於股東的淨收益 | 136,967 | 4,738 | 653 | (96.5) | ||||||||
調整後的 EBITDA2 | 178,221 | 77,665 | 10,687 | (56.4) | ||||||||
每個 ADS 的攤薄淨收益 | 2.54 | 0.09 | 0.01 | (96.5) | ||||||||
每股ADS3攤薄後的調整後息稅折舊攤銷前利潤 | 3.31 | 1.45 | 0.20 | (55.2) | ||||||||
期末現金、現金等價物、短期投資 | 1,611,554 | 770,133 | 105,974 | (52.2) |
Key operating metrics for the First Half of 2024:
2024年上半年的主要運營指標:
(In thousands, except percentages and number of agents) |
2023H1 (RMB) |
2024H1 (RMB) |
2024H1 (US$) |
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) |
(以千計,代理人的百分比和數量除外) |
2023H1 (人民幣) |
2024H1 (人民幣) |
2024H1 (美元) |
變化% | ||||||||
人壽總承保保費(「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) | ||||||||
-續訂保費 | 6,374,006 | 7,436,902 | 1,023,352 | 16.7 | ||||||||
人壽保險履約代理人數量 | 11,855 | 7,723 | — | (34.9) | ||||||||
每位人壽保險履約代理人 FYP | 196 | 156 | — | (20.6) |
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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$1.00, the effective noon buying rate as of June 28, 2024 in The City of New York for cable transfers of RMB as set forth in the H.10 weekly statistical release of the Federal Reserve Board | |
2 | Adjusted EBITDA is defined as net income before income tax expense, share of loss of affiliates, investment income, interest income, financial cost, depreciation, amortization of intangible assets, share-based compensation expenses and change in fair value of equity investments and contingent consideration. | |
3 | Diluted adjusted EBITDA per ADS is defined as adjusted EBITDA divided by total weighted average number of diluted ADSs of the Company outstanding during the period. |
1 | 本公告僅爲方便讀者而包含將某些人民幣(「RMB」)金額按指定匯率兌換成美元(US$)的貨幣。除非另有說明,否則所有從人民幣兌換美元的匯率均爲人民幣7.2672元兌1美元,這是聯儲局委員會發布的H.10每週統計報告中規定的截至2024年6月28日紐約市人民幣有線電視轉賬的有效午間買入匯率 | |
2 | 調整後的息稅折舊攤銷前利潤定義爲扣除所得稅支出的淨收益、關聯公司的虧損份額、投資收益、利息收入、財務成本、折舊、無形資產攤銷、基於股份的薪酬支出以及股權投資和或有對價的公允價值變動。 | |
3 | 每份ADS攤薄後的調整後息稅折舊攤銷前利潤定義爲調整後的息稅折舊攤銷前利潤除以公司在此期間未償還的攤薄後ADS的加權平均總數。 |
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.
創始人兼首席執行官胡亦南先生評論說:“2024年上半年,在代理和經紀商渠道中實施'報告和承保統一佣金和費用'政策對該行業造成了前所未有的干擾。在此背景下,我們採取了一系列積極措施,穩步推進了 「專業化、服務生態發展、智能化、開放平台和國際化」 的戰略,以確保業務的穩定運營。2024年上半年,我們實現了88元人民幣的總保費,第一年保費爲人民幣14元,這充分體現了我們的韌性。
"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.
“我們很高興由泛華和百度智能雲共同開發的保險行業首款人工智能模型'杜小寶'L2上線試運行,並受到銷售代理的好評。我們堅信,人工智能將在保險分銷中發揮越來越重要的作用。它不僅將增強整體客戶體驗,還將重塑傳統的保險銷售模式,爲該行業帶來新的增長動力。「杜小寶」 是我們情報戰略的核心,將在推動我們未來的競爭力、推動公司實現更大的增長和新的突破方面發揮至關重要的作用。
Open Platform and M&A Contributions over the First Half of 2024
2024 年上半年的開放平台和併購貢獻
- 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人,第一年產生了人民幣32270萬元的保費,佔我們人壽保險五年計劃的26.8%。
Share Repurchase Program
股票回購計劃
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股票回購計劃再擴大2,000萬美元,使股票回購的授權總額達到4000萬美元。根據公司先前批准的股票回購計劃,截至2024年6月30日,公司共回購了726,616份美國存託憑證,平均價格約爲每份ADS7.5美元,總金額約爲540萬美元。
Analysis of our Financial Results for the First Half of 2024
分析我們2024年上半年的財務業績
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年上半年的總淨收入爲人民幣1100元(1.54億美元),較2023年同期的人民幣20元下降了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,代理業務的淨收入爲人民幣901萬元(1.24億美元),較2023年同期的人民幣18元下降了48.6%。2024年上半年的總GWP爲人民幣88元,與2023年同期相比保持穩定,其中FYP同比下降43.7%至人民幣14元,而續保保費同比增長16.7%,至74元人民幣。
- 2024年上半年,人壽保險業務的淨收入爲人民幣82860萬元(合1.14億美元),較2023年同期的人民幣17元下降了50.2%。下降的主要原因是:i)保險公司支付的佣金率下降以及銷售量下降,這是由於實施 「報告和承保統一佣金和費用」 政策的結果,該政策對經紀人和代理渠道設定了佣金上限;ii)在人壽保險產品的定價率從3.5%下調至3%之前,銷售激增的基數相對較高。人壽保險總增值同比下降0.7%,至人民幣86元,其中人壽保險FYP同比下降48.3%至人民幣12元,而續保費同比增長16.7%,至人民幣74元。
2024年上半年,我們的人壽保險業務產生的淨收入佔我們總淨收入的73.8%,而2023年同期爲84.8%。
- 2024年上半年,非人壽保險業務(以前歸類爲 「財產和意外傷害保險業務」)的淨收入爲人民幣72.4萬元(合1,000萬美元),較2023年同期的人民幣8930萬元下降了18.9%。2024年上半年,非人壽保險業務產生的淨收入佔我們總淨收入的6.4%,而2023年同期爲4.6%。
- 2024年上半年,人壽保險業務的淨收入爲人民幣82860萬元(合1.14億美元),較2023年同期的人民幣17元下降了50.2%。下降的主要原因是:i)保險公司支付的佣金率下降以及銷售量下降,這是由於實施 「報告和承保統一佣金和費用」 政策的結果,該政策對經紀人和代理渠道設定了佣金上限;ii)在人壽保險產品的定價率從3.5%下調至3%之前,銷售激增的基數相對較高。人壽保險總增值同比下降0.7%,至人民幣86元,其中人壽保險FYP同比下降48.3%至人民幣12元,而續保費同比增長16.7%,至人民幣74元。
- 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,理賠調整業務的淨收入爲人民幣22210萬元(合3,060萬美元),較2023年同期的人民幣20760萬元增長了7.0%。增長主要是由於汽車保險理賠業務的增長。2024年上半年,理賠調整業務產生的淨收入佔我們總淨收入的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年上半年的總毛利爲人民幣42460萬元(合5,840萬美元),較2023年同期的人民幣59770萬元下降了29.0%。按產品線劃分,結果是:
- 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.
- 人壽保險業務的毛利潤爲人民幣32380萬元(合4,460萬美元),較2023年上半年的人民幣5億元下降了35.2%。下降在很大程度上與淨收入的減少有關。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.
- 非人壽保險業務的毛利潤爲人民幣2610萬元(合360萬美元),較2023年上半年的人民幣2360萬元增長了10.6%,這主要是由於利潤率更高的保險經紀業務的貢獻增加。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.
- 理賠業務的毛利爲人民幣7480萬元(合1,030萬美元),較2023年上半年的人民幣742萬元增長了0.8%。該期間的毛利率爲33.8%,而2023年同期爲35.7%。
Operating expenses
運營費用
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年上半年的銷售費用爲人民幣110萬元(合1,520萬美元),較2023年同期的人民幣13080萬元下降了15.8%。下降的主要原因是通過人員優化節省了成本,以及我們的銷售網點數量減少。
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年上半年的一般和管理費用爲人民幣25960萬元(合3570萬美元),較2023年同期的人民幣32050萬元下降了19.0%。減少的主要原因是人員優化和省級分支機構租金成本降低。
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.
由於上述因素,我們在2024年上半年錄得的營業收入爲人民幣5490萬元(合760萬美元),較2023年同期的人民幣14640萬元下降了62.5%。
Operating margin was 4.9% for the first half of 2024, compared to 7.5% for the corresponding period in 2023.
2024年上半年的營業利潤率爲4.9%,而2023年同期的營業利潤率爲7.5%。
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年上半年公允價值變動造成的虧損爲人民幣7370萬元(合1,020萬美元),這主要是2024年上半年人民幣82.5萬元(合1140萬美元)的未實現持股虧損,以反映公司在車車集團有限公司(「車臣」)2.8%股權的公允價值的變化,部分被人民幣880萬元的未實現收益所抵消(120萬美元),代表2023年第一季度與企業合併有關的或有對價的公允價值變化。
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年上半年的投資收益爲人民幣2.45萬元(合340萬美元),較2023年同期的人民幣2500萬元下降了2.0%。下降反映了金融產品短期投資收益率的週期性波動,這種波動是在投資到期或處置時確認的。
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年上半年的所得稅支出爲人民幣670萬元(合90萬美元),較2023年同期的人民幣3830萬元下降了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.
由於上述因素,2024年上半年歸屬於公司股東的淨收益爲人民幣470萬元(70萬美元),較2023年同期的人民幣13700萬元下降了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年上半年的淨利潤率爲0.4%,而2023年同期的淨利潤率爲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 EBITDA2 爲人民幣7770萬元(合1,070萬美元),較2023年同期的人民幣1782萬元下降了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攤銷前利潤率4爲6.9%,而2023年同期爲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ADS的基本和攤薄淨收益分別爲人民幣0.09元(0.01美元)和人民幣0.09元(0.01美元),較2023年同期的2.54元人民幣和2.54元人民幣分別下降96.5%和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年上半年,每股ADS的基本5和攤薄後的調整後息稅折舊攤銷前利潤爲人民幣1.45元(0.20美元)和人民幣1.45元(0.20美元),較2023年同期的人民幣3.31元和3.31元人民幣分別下降56.2%和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,該公司擁有人民幣7701.0萬元(合1.06億美元)的現金、現金等價物和短期投資,而截至2023年6月30日爲人民幣16元。下降是由於向第三方提供的貸款總額爲人民幣70500萬元,其中截至本公告發布之日,人民幣61000萬元的貸款已以股權作爲抵押品質押,並由債務人的控股股東提供全額擔保。向第三方提供的貸款均爲一年,平均年利率爲5%。
Fanhua's Insurance Sales and Service Distribution Network:
泛華的保險銷售和服務分銷網絡:
- 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,截至2024年6月30日,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,而截至2023年6月30日,在24個省份有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反映了我們對增加利潤的分支機構的關注,以及關閉那些沒有產生利潤的分支機構的艱難決定。截至2024年6月30日,公司的內部理賠調整員人數爲2,457人,而截至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 | 調整後的息稅折舊攤銷前利潤率定義爲調整後的息稅折舊攤銷前利潤佔淨收入的百分比。 | |
5 | 每個ADS的調整後基本息稅折舊攤銷前利潤定義爲調整後的息稅折舊攤銷前利潤除以公司在此期間未償還的ADS的加權平均總數。 |
About Fanhua Inc.
關於泛華公司
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.
在保險行業的數字技術和專業知識的推動下,泛華股份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族資產配置服務,涵蓋客戶的整個生命週期,以及爲個人銷售代理和獨立保險中介機構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.
我們的戰略重點是長期人壽保險產品,通過由數字賦能的銷售代理和專業理賠師組成的龐大網絡,提供廣泛的保險產品、理賠調整服務和各種增值服務,以滿足客戶的多樣化需求。我們還運營Baowang (),這是一個爲客戶提供一站式保險購物體驗的在線保險平台。
For more information about Fanhua Inc., please visit
欲了解更多關於泛華公司的信息,請訪問
Forward-looking Statements
前瞻性陳述
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.
本新聞稿包含前瞻性陳述。這些聲明,包括與公司未來財務和經營業績有關的聲明,是根據1995年《美國私人證券訴訟改革法》的 「安全港」 條款作出的。您可以通過 「將」、「期望」、「相信」、「預期」、「打算」、「估計」 和類似陳述等術語來識別這些前瞻性陳述。除其他外,管理層的報價和業務展望部分包含前瞻性陳述。這些前瞻性陳述涉及已知和未知的風險和不確定性,基於當前對泛華和該行業的預期、假設、估計和預測。潛在的風險和不確定性包括但不限於與其吸引和留住生產代理人,尤其是創業代理人的能力、與保險公司維持現有和發展新業務關係的能力、執行增長戰略的能力、適應中國保險業不斷變化的監管環境的能力、與競爭對手進行有效競爭的能力、由其無法控制的因素造成的經營業績季度變化,包括中國的宏觀經濟狀況。除非另有說明,否則本新聞稿中提供的所有信息均爲截至本新聞稿發佈之日,除非法律要求,否則泛華沒有義務更新任何前瞻性陳述以反映隨後發生的事件或情況或其預期的變化。儘管泛華認爲這些前瞻性陳述中表達的預期是合理的,但它無法向你保證其預期會是正確的,並且提醒投資者,實際業績可能與預期的業績存在重大差異。有關泛華面臨的風險和不確定性的更多信息包含在泛華向美國證券交易委員會提交的文件中,包括其20-F表年度報告。
About Non-GAAP Financial Measures
關於非公認會計准則財務指標
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.
除了公司在美國公認會計原則(「GAAP」)下的合併財務業績外,公司還提供調整後的息稅折舊攤銷前利潤、調整後的息稅折舊攤銷前利潤率以及基本和攤薄後的每股ADS息稅折舊攤銷前利潤,均爲非公認會計准則財務指標,作爲審查和評估經營業績的補充指標。調整後的息稅折舊攤銷前利潤定義爲扣除所得稅支出的淨收益、關聯公司的虧損份額、投資收益、利息收入、財務成本、折舊、無形資產攤銷、基於股份的薪酬支出以及股權投資和或有對價的公允價值變動。調整後的息稅折舊攤銷前利潤率定義爲調整後的息稅折舊攤銷前利潤佔淨收入的百分比。每個ADS的調整後基本息稅折舊攤銷前利潤定義爲調整後的息稅折舊攤銷前利潤除以公司在此期間未償還的ADS的加權平均總數。每份ADS攤薄後的調整後息稅折舊攤銷前利潤定義爲調整後的息稅折舊攤銷前利潤除以公司在此期間未償還的攤薄後ADS的加權平均總數。公司認爲,在評估公司業績以及規劃和預測未來時期,參考這些非公認會計准則財務指標對管理層和投資者都有好處。公司的非公認會計准則財務指標並未反映影響公司運營的所有收入和支出項目。具體而言,公司的非公認會計准則指標不包括利息收入、投資收益、財務成本、所得稅支出、折舊、無形資產攤銷、關聯公司虧損份額、基於股份的薪酬支出以及股權投資和或有對價的公允價值變動。此外,這些非公認會計准則財務指標可能無法與包括同行公司在內的其他公司提出的類似標題的指標相提並論。這些非公認會計准則財務指標作爲分析工具的列報存在侷限性,投資者不應將它們與根據公認會計原則編制和列報的財務信息分開考慮,或將其作爲分析的替代品。我們鼓勵投資者和其他感興趣的人全面審查我們的財務信息,不要依賴單一的財務指標。
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.
有關這些非公認會計准則財務指標的更多信息,請參閱本新聞稿末尾標題爲 「淨收益與調整後息稅折舊攤銷前利潤率和調整後息稅折舊攤銷前利潤率的對賬」 的表格。
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 |
泛華公司 未經審計的簡明合併資產負債表 (以千計) | |||||||||||
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: | |||||||||||
現金和現金等價物 | 521,538 | 189,527 | 26,080 | ||||||||
受限制的現金 | 53,238 | 47,920 | 6,594 | ||||||||
短期投資 | 928,270 | 580,606 | 79,894 | ||||||||
應收賬款,淨額 | 639,418 | 582,516 | 80,157 | ||||||||
其他應收賬款 | 111,770 | 714,383 | 98,302 | ||||||||
其他流動資產 | 121,331 | 44,344 | 6,102 | ||||||||
流動資產總額 | 2,375,565 | 2,159,296 | 297,129 | ||||||||
非流動資產: | |||||||||||
限制性銀行存款——非流動 | 27,228 | 26,783 | 3,685 | ||||||||
合約資產,淨額-非流動資產 | 711,424 | 726,879 | 100,022 | ||||||||
不動產、廠房和設備,淨額 | 91,659 | 86,223 | 11,865 | ||||||||
商譽和無形資產,淨額 | 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 | 33,598 | ||||||||
使用權資產 | 136,056 | 112,011 | 15,413 | ||||||||
非流動資產總額 | 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 | 46,484 | ||||||||
應付保險費 | 14,943 | 10,418 | 1,434 | ||||||||
其他應付賬款和應計費用 | 185,999 | 177,787 | 24,464 | ||||||||
應計工資單 | 94,305 | 62,566 | 8,609 | ||||||||
應繳所得稅 | 100,260 | 96,780 | 13,317 | ||||||||
當前的經營租賃負債 | 57,164 | 49,521 | 6,814 | ||||||||
流動負債總額 | 1,023,778 | 833,254 | 114,659 | ||||||||
非流動負債: | |||||||||||
應付賬款——非流動 | 401,385 | 408,416 | 56,200 | ||||||||
其他納稅負債 | 34,368 | 29,722 | 4,090 | ||||||||
遞延所得稅負債 | 149,151 | 144,808 | 19,926 | ||||||||
非當期經營租賃負債 | 71,311 | 57,707 | 7,941 | ||||||||
其他非流動負債 | 33,373 | 33,375 | 4,593 | ||||||||
非流動負債總額 | 689,588 | 674,028 | 92,750 | ||||||||
負債總額 | 1,713,366 | 1,507,282 | 207,409 | ||||||||
普通股 | 8,675 | 8,675 | 1,194 | ||||||||
庫存股 | (178) | (197) | (27) | ||||||||
額外的實收資本 | 162,721 | 177,993 | 24,493 | ||||||||
法定儲備金 | 608,376 | 608,376 | 83,715 | ||||||||
留存收益 | 1,319,605 | 1,324,343 | 182,236 | ||||||||
累計其他綜合虧損 | (27,936) | (33,208) | (4,570) | ||||||||
股東權益總額 | 2,071,263 | 2,085,982 | 287,041 | ||||||||
非控股權益 | 266,255 | 227,809 | 31,348 | ||||||||
權益總額 | 2,337,518 | 2,313,791 | 318,389 | ||||||||
負債和權益總額 | 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 |
泛華公司 未經審計的簡明合併損益表和綜合收益表 (以千計,股票和每股數據除外) | |||||||||||
在已結束的六個月中 | |||||||||||
十二月三十一日 | |||||||||||
2023 | 2024 | 2024 | |||||||||
人民幣 | 人民幣 | 美元 | |||||||||
淨收入: | |||||||||||
中介機構 | 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 | 222,114 | 30,565 | ||||||||
淨收入總額 | 1,960,377 | 1,123,178 | 154,555 | ||||||||
運營成本和支出: | |||||||||||
中介機構 | (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) | ||||||||
一般和管理費用 | (320,537) | (259,566) | (35,717) | ||||||||
運營成本和支出總額 | (1,813,990) | (1,068,268) | (146,998) | ||||||||
運營收入 | 146,387 | 54,910 | 7,557 | ||||||||
其他收入(虧損),淨額: | |||||||||||
公允價值變動造成的損失 | — | (73,761) | (10,150) | ||||||||
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) | ||||||||
其他,淨額 | 6,482 | (3,216) | (443) | ||||||||
所得稅前的運營收入和關聯公司的股票收入 | 182,241 | 10,010 | 1,377 | ||||||||
所得稅支出 | (38,289) | (6,659) | (916) | ||||||||
關聯公司虧損份額 | (540) | (1,121) | (154) | ||||||||
淨收入 | 143,412 | 2,230 | 307 | ||||||||
減去:歸屬於非控股權益的淨(虧損)收益 | 6,445 | (2,508) | (345) | ||||||||
歸屬於公司股東的淨收益 | 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) |
泛華公司 未經審計的簡明合併損益表和綜合收益表-(續) (以千計,股票和每股數據除外) | |||||||||||
在結束的六個月中 | |||||||||||
6月30日 | |||||||||||
2023 | 2024 | 2024 | |||||||||
人民幣 | 人民幣 | 美元 | |||||||||
淨收入份額: | |||||||||||
基本 | 0.13 | 0.01 | — | ||||||||
稀釋 | 0.13 | 0.01 | — | ||||||||
淨收入人數 ADS: | |||||||||||
基礎知識 | 2.54 | 0.09 | 0.01 | ||||||||
稀釋 | 2.54 | 0.09 | 0.01 | ||||||||
用於計算每股淨收益的股份: | |||||||||||
基本 | 1,077,103,934 | 1,066,793,835 | 1,066,793,835 | ||||||||
稀釋 | 1,077,451,347 | 1,069,840,827 | 1,069,840,827 | ||||||||
淨收入 | 143,412 | 2,230 | 307 | ||||||||
扣除稅款的其他綜合收益:外幣折算調整 | 8,880 | 783 | 108 | ||||||||
可供出售投資的未實現淨(虧損)收益 | 2,695 | (6,054) | (833) | ||||||||
綜合收益(虧損) | 154,987 | (3,041) | (418) | ||||||||
更少: | |||||||||||
歸屬於非控股權益的綜合(虧損)收益 | 6,445 | (2,508) | (345) | ||||||||
歸屬於公司股東的綜合收益(虧損) | 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 |
泛華公司 未經審計的簡明合併現金流量表 (以千計,股票和每股數據除外) | |||||||||||
在已結束的六個月中 | |||||||||||
6月30日 | |||||||||||
2023 | 2024 | 2024 | |||||||||
人民幣 | 人民幣 | 美元 | |||||||||
運營活動 | |||||||||||
淨收入 | 143,412 | 2,230 | 307 | ||||||||
爲調節淨收入與經營活動產生的淨現金而進行的調整: | |||||||||||
投資收益 | (6,989) | (5,256) | (723) | ||||||||
關聯公司虧損份額 | 540 | 1,121 | 154 | ||||||||
其他非現金調整 | 74,859 | 145,765 | 20,058 | ||||||||
經營資產和負債的變化 | (178,173) | (110,934) | (15,265) | ||||||||
經營活動產生的淨現金 | 33,649 | 32,926 | 4,531 | ||||||||
來自投資活動的現金流: | |||||||||||
購買短期投資 | (2,103,010) | (1,617,780) | (222,614) | ||||||||
處置短期投資的收益 | 1,823,149 | 1,962,588 | 270,061 | ||||||||
爲來自第三方的應收貸款而提供的現金 | (80,000) | (728,800) | (100,286) | ||||||||
從第三方收到的應收貸款現金 | 180,000 | 130,500 | 17,957 | ||||||||
從企業收購中獲得的現金 | 21,208 | — | — | ||||||||
出售子公司,扣除已處置的現金 | — | (12,761) | (1,756) | ||||||||
其他 | (6,185) | (3,982) | (548) | ||||||||
用於投資活動的淨現金 | (164,838) | (270,235) | (37,186) | ||||||||
來自融資活動的現金流: | |||||||||||
銀行和其他借款的收益 | 182,268 | 98,375 | 13,537 | ||||||||
償還銀行和其他借款 | (18,026) | (164,300) | (22,608) | ||||||||
從公開市場回購普通股 | (22,107) | (5,734) | (789) | ||||||||
股息分配給非控股權益 | — | (29,500) | (4,059) | ||||||||
其他 | (4,238) | — | — | ||||||||
(用於)融資活動產生的淨現金 | 137,897 | (101,159) | (13,919) | ||||||||
現金、現金等價物和限制性現金的淨增加(減少) | 6,708 | (338,468) | (46,574) | ||||||||
期初的現金、現金等價物和限制性現金 | 648,211 | 602,004 | 82,839 | ||||||||
匯率變動對現金和現金等價物的影響 | 6,668 | 694 | 94 | ||||||||
期末現金、現金等價物和限制性現金 | 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 |
泛華公司 淨收入與調整後息稅折舊攤銷前利潤和調整後息稅折舊攤銷前利潤率的對賬 (以千計,股票和每股數據除外) | |||||||||||
在結束的六個月中 | |||||||||||
6 月 30 日 | |||||||||||
2023 | 2024 | 2024 | |||||||||
人民幣 | 人民幣 | 美元 | |||||||||
淨收入 | 143,412 | 4,738 | 652 | ||||||||
所得稅支出... | 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 | ||||||||
無形資產的攤銷... | 8,797 | 8,395 | 1,155 | ||||||||
基於股份的薪酬支出... | 8,184 | 7,729 | 1,064 | ||||||||
股權投資和或有對價公允價值的變化... | — | 73,761 | 10,150 | ||||||||
調整後 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% | ||||||||
每個廣告的調整後息稅折舊攤銷前利潤: | |||||||||||
基本 | 3.31 | 1.46 | 0.20 | ||||||||
稀釋 | 3.31 | 1.45 | 0.20 | ||||||||
用於計算調整後每股息稅折舊攤銷前利潤的股票: | |||||||||||
基本 | 1,077,103,934 | 1,066,793,835 | 1,066,793,835 | ||||||||
稀釋 | 1,077,451,347 | 1,069,840,827 | 1,069,840,827 |
Source: Fanhua Inc.
來源:泛華公司
For more information, please contact:Investor RelationsTel: +86 (20) 8388-3191Email: ir@fanhgroup.com
欲了解更多信息,請聯繫:投資者關係電話:+86 (20) 8388-3191電子郵件:ir@fanhgroup.com