CEO New Year Speech
2020 New Year Speech
Great China, Dynamic Fanhua
Tide marches on and time stops for no one. Year 2020 is soon approaching. At this exciting moment as we greet the first rays of sunshine in the New Year, on behalf of the board of directors and management of Fanhua, I would like to extend my best wishes to all of our shareholders, directors, employees, entrepreneurial team leaders, sales agents, our business partners as well as to our friends and clients who have cared and supported Fanhua all along way.
In 2019, we celebrated the 70th anniversary of the founding of the People’s Republic of China. Chinese people of all ethnic groups are seizing every minute to strive for the realization of the China Dream. In such times of peace and prosperity, Fanhua has always bound our destiny to our nation and kept abreast of the times to strive forward. We have made a great many accomplishments, which have been imitated and followed by many but copied and surpassed by none. I take tremendous pride in such achievements.
As a poem goes, “Soon dawn will break in the east; do not say ‘you starts too early’; crossing these blue hills adds nothing to one’s years; the landscape here is beyond compare.”
2019 is an unforgettable year! In the past year, we pushed forward the campaigns of “Sales Force Expansion” and “Introduction of One Thousand Reserve Entrepreneurial Teams Leaders”, which are our key initiatives to fully capitalize on the trend of the separation of underwriting and distribution to further expand and strengthen our sales organization.
In the past year, we actively implemented the 521 Plan and made significant progress. The concept of building wealth through both diligence and capital investment was deeply rooted in the mind of every Fanhua’er and fully reflected in action.
In the past year, we announced Shenzhen 100 Strategy, which we believe is the best strategy to embrace and accelerate the trend of separation of underwriting and drive the achievement of our goal to generate RMB10 billion sales volume in first year premiums and become a RMB100 billion-sized company within the next few years.
In the past year, despite the impact from various challenges including the Sino-US trade war, global political and economic turmoil, softening economy and ongoing economic restructuring in China, our stock price remained relatively stable, generating a year-to-date return of 19.5%.
In the past year, undaunted by the uncertainty and complexity in the evolving insurance market in China, united as one, we conquered many obstacles and delivered solid results which outperformed the industry. Great development has been achieved in all segments and projects.
In the past year, responding to the call of the State, we made charity donations to help many poverty-stricken families across the country as well as provide cloths to children in Tibet. For every policy that we distributed, a proportional amount was donated to fund the projects. It demonstrated our full commitment to social responsibility and caring for the society. With firm stance and confidence, we will stay true to our original inspiration and carry on this mission.
In the past year, we won wide recognition from the society, the industry and our clients. We were honored with various awards such as the Outstanding Entrepreneurs in 70 Years of China’s Economic Development, Top 40 in 40 Years in China’s Insurance Industry, Respected Top 40 in China’s Insurance Industry, Top 50 Most Valuable US-Listed Chinese Companies, Best Insurance Intermediary Brand the Year, Communication of Social Responsibility Award of the Year, Innovative Brand Communication Award of the Year and New Era – Most Influential Financial Institute Award. In addition, our New Internet Cloud-based Core Business Platform was recognized as one of the best cases of its kind by the China Banking and Insurance Newspaper. These recognitions encourage us to forge ahead and make further progress.
In 2020, China is expected to realize the goal of building a moderately prosperous society in all respects! Time is forever young and youth immortal. We shall seize the golden opportunity in China’s insurance industry and press on to make further achievements.
Despite all the challenges, we will stay focused on pursuing growth. In 2020, we will continue to unswervingly execute on our growth strategies and pursue professionalized and quality growth. Fanhua will remain to be the best platform to support sales agents and team leaders to start their own business.
We are risk-conscious and fully aware that compliance creates value. In 2020, we will continue to provide the safest and most hospitable home for all of our employees and sales agents, by upholding the principle of “resisting temptation and sticking to our basic principles” and actively following the requirements set forth by the state on industrial restructuring and development.
Applause to our great motherland and dynamic Fanhua!
I am acutely aware that greatness comes from the ordinary. Achieving excellence requires us to remain true to our original aspiration and make constant efforts and refinement. By believing in one’s dream, making relentless efforts and doing every small thing right, an ordinary man can build an extraordinary life, and doing small jobs well can achieve extraordinary accomplishments. I am well prepared! For our dreams, our responsibility and future, my team and I, together, will lead Fanhua forward to achieve our goals and create a brighter future.
I love Fanhua!
Chairman of the Board of Directors & CEO
December 31, 2019