|Over a month ago|
Fanhua reports Q1 operating income $8.5M, down 52.5% from last year » 17:0605/2605/26/20
Reports Q1 revenue…
Reports Q1 revenue $102.1M, one estimate $142.56M. CEO Chunlin Wang stated, "As the global economy was hit hard by the COVID-19 outbreak, the life insurance sector in China has also been severely affected, with a low single digit growth of 2.7% year-over-year in life insurance gross written premiums. Despite this challenging environment, Fanhua still managed to generate RMB2.4 billion GWP in our life insurance business segment, representing a growth of 9.3% year-over-year, outpacing industry growth. We previously expected the Covid-19 outbreak would be nearly over in China by the end of March and that our business could start to recover rapidly in the second quarter of 2020. However, as the pandemic spread rampantly around the world, a full resumption of work and production in China has also been delayed. Business activities originally planned for April such as agent recruitment, trainings and product seminars could not be carried out offline as usual, which significantly impacted our results for the second quarter of 2020, especially for the sales of higher ticket savings-typed products as face-to-face meetings are important in customers' decision-making process."
Fanhua cuts quarterly dividend to 25c from 30c per share » 17:0305/2605/26/20
The dividend is payable…
The dividend is payable on or around Jun 24, 2020 to shareholders of record on Jun 10, 2020.
|Over a quarter ago|
Fanhua class action lawsuit granted motion to dismiss by court » 06:1703/1603/16/20
Fanhua announced that the…
Fanhua announced that the United States District Court for the Southern District of New York has granted in its entirety the company's motion to dismiss the class action lawsuit originally filed on September 7, 2018 against Fanhua and three of its current or former executive officers and closed the case.
Fanhua downgraded to Neutral from Outperform at CICC 18:5508/2108/21/19
Fly Intel: Top five analyst initiations » 10:1707/3007/30/19
TME, MDLA, FANH, PHG, FRPT
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tencent Music (TME) initiated with an Outperform at Oppenheimer. 2. Medallia (MDLA) initiated with an Overweight at Stephens. 3. Fanhua (FANH) initiated with an Overweight at Morgan Stanley. 4. Philips (PHG) initiated with a Buy at Citi. 5. Freshpet (FRPT) initiated with a Neutral at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
Fanhua initiated with an Overweight at Morgan Stanley 16:4107/2907/29/19