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Fanhua's plan to change its P&C insurance business from a commission spread-based profit model to a fee-based platform model was previously announced on
The spin-off of its P&C Insurance Division marks an important step forward towards Fanhua's transition to the P&C insurance platform model. Starting from
As the result of the transition, Fanhua expects a substantial decline in both of its total revenues and commission costs, while its gross margin is expected to improve significantly. The impact on its operating profit and net profit should be limited. From a long-term perspective, the Company expect this move will help elevate its overall profitability.
About Fanhua Inc.
Our online platforms include (1) Baoxian.com, a consumer-oriented online entry portal for comparing and purchasing hundreds of health, accident, travel and homeowner insurance products provided by
over 30 insurance companies; (2) CNpad App, a mobile sales support application that helps insurance agents provide real-time quotations and online transactions of a wide spectrum of auto insurance, life insurance and wealth management products to customers; and (3) eHuzhu (www.ehuzhu.com), a non-profit online mutual aid platform in
Our offline insurance distribution and service networks cover 29 provinces across
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
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Tel: (8620) 83883191
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