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AIFU (AIFU) investor relations material

AIFU Q4 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2024 earnings summary25 Apr, 2025

Executive summary

  • Net income attributable to shareholders rose 62.2% to RMB455.0 million (US$62.3 million) in 2024, despite a 43.4% drop in total net revenues to RMB1,808.8 million (US$247.8 million) compared to 2023, driven by gains from disposals and investment income.

  • The company completed a major restructuring, disposing of its VIEs and claims adjusting business, and now operates primarily through PRC subsidiaries.

  • A dual-class share structure was adopted, and significant share issuances and repurchases were executed, with HPH and Infinew now controlling 99% of Class B shares.

Financial highlights

  • Total net revenues fell 43.4% year-over-year to RMB1,808.8 million, mainly due to lower commission rates, sales volume, and regulatory changes.

  • Operating loss was RMB435.8 million (US$59.7 million) in 2024, compared to operating income of RMB195.8 million in 2023, primarily due to a RMB404.1 million (US$55.4 million) impairment on goodwill and intangibles.

  • Net income attributable to shareholders increased to RMB455.0 million (US$62.3 million), benefiting from a RMB897.3 million (US$122.9 million) gain on disposal of subsidiaries.

  • Basic and diluted EPS were RMB0.43 and RMB0.42, respectively, up from RMB0.26 and RMB0.26 in 2023.

  • Cash and cash equivalents at year-end were RMB192.1 million (US$26.3 million); short-term investments were RMB615.5 million (US$84.3 million).

Segment performance

  • Insurance agency segment revenues dropped 51.8% to RMB1,331.8 million, with life insurance business down 54.3% and non-life down 12.8%.

  • Claims adjusting segment revenues rose 8.9% to RMB477.1 million, but this business was discontinued in January 2025.

  • Agency segment recorded an operating loss of RMB288.0 million, mainly due to impairment charges.

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Frequently asked questions

Fanhua Inc. is a leading independent financial services provider in China, primarily involved in the distribution of insurance products and the provision of claims adjusting services. The company operates through two main segments: Insurance Agency and Claims Adjusting. The Insurance Agency segment offers a broad range of life and non-life insurance products, including health, life, accident, and property insurance. The Claims Adjusting segment provides services like pre-underwriting surveys, claims processing, and consulting. The company is headquartered in Guangzho, China, and its shares are listed on the NASDAQ.

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