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泛华 金控 20 th 1998-2018 Fanhua Inc. Fanhua Reports Third Quarter 2021 Unaudited Financial Results November 23 , 2021 -- GUANGZHOU , China , Nov. 23 , 2021 ( 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 third quarter ended September 30 , 20211 . Financial Highlights for the Third Quarter of 2021 : ( In thousands , except per ADS ) 2020Q3 ( RMB ) 2021Q3 ( RMB ) 2021Q3 ( US $ ) Change % Total net revenues 812,003 683,537 106,083 ( 15.8 ) Operating income 73,326 28,163 4,371 ( 61.6 ) Net income attributable to the Company's shareholders 75,322 34,250 5,316 ( 54.5 ) Diluted net income per ADS 1.40 0.64 0.10 ( 54.3 ) Cash , cash equivalents and short - term investments ( As of September 30 , 2020 and 2021 ) 1,700,472 1,397,727 216,923 ( 17.8 ) Commenting on the financial results of third quarter of 2021 , Mr. Chunlin Wang , chairman and chief executive officer of Fanhua , stated , " China's life insurance industry continues to be under pressure in 2021 , as consumer confidence has not yet fully recovered from concerns over macroeconomic uncertainties , especially for products such as life insurance that are not considered to be imminently - needed . Total gross written premiums ( " GWP " ) in the life insurance industry fell by 1.9 % year - over - year in the third quarter of 2021 . " Fanhua's overall performance in the third quarter of 2021 was in line with our expectations : total GWP hit RMB2.7 billion , representing a year - over - year increase of 8.9 % , outperforming the industry . New policy sales reached RMB567.0 million , growing by 11.2 % quarter - over - quarter . Operating income achieved RMB28.2 million , surpassing previous guidance . " We are happy that we made good progress in executing Fanhua's ' Professionalization , Digitalization and Open Platform ' strategy in the third quarter of 2021 , among which , we completed the target of building 10,000 digital entrepreneurial teams well ahead of schedule . We are currently focused on operating WeCom - based chat groups of these digital entrepreneurial teams to drive conversion . " Meanwhile , Fanhua is actively advancing product customization and has made remarkable achievements . Since the beginning of this year , Fanhua , together with insurers and reinsurers , has co - launched 9 customized products , ranging from whole life , annuity , critical illness and term life insurance to million - yuan medical insurance . In the third quarter of 2021 , customized products contributed over 30 % to our total new policy sales . " Looking forward to the fourth quarter of 2021 , we see both challenges and opportunities . The Notice on Further Regulating the Internet Life Insurance Business of Insurance Institutions ( referred to as the ' New Regulation ' ) issued by China Banking and Insurance Regulatory Commission on October 22 , 2021 has become a trending topic in the industry . The rationale behind the New Regulation is to refocus on offline insurance distribution , particularly for longer term high - value products . Insurers and brokers with extensive offline sales network coverage will significantly benefit from the New Regulation and usher in broader development opportunities over the long run . " We believe that our Professionalization , Digitalization and Open Platform strategy and our positioning of catering to the needs of 400 million middle - class families for family asset - allocation services well align with market trends and we are on the right track to fully capitalizing on the market opportunities . " In the fourth quarter of 2021 , Fanhua remains focused on the execution of our growth strategy , and get well prepared for the Jumpstart Sales Campaign 2022 to achieve our full year target for 2021 while winning a good start for 2022. Operating income is expected to reach approximately RMB80 million for the fourth quarter of 2021. "