GUANGZHOU, China, July 8, 2024 /PRNewswire/ — Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announced that its board of directors (the “Board”) has recently approved the grant of share options to certain of its key employees. This move is part of the Company’s strategy to incentivize key talent and align their interests with the long term success of the Company.

In accordance with the Company’s 2022 Share Inventive Plan, on July 2, 2024 the Board  authorized the issuance of share options to purchase up to 6,900,000 American Depository Shares (“ADS”) to 15 management team members of the Company’s major subsidiaries. The share options are immediately exercisable until July 15, 2024, subject to certain conditions. The exercise price is US$1.92 per ADS, equivalent to the closing price of the Company’s ADS for the trading day preceding the day on which the Board authorized the issuance. Additionally, the Company may offer these key employees a loan at an interest rate of 3% per annum to facilitate the exercise of the share options. Employees receiving the share options commit to serving the Company for no less than three years.

Commenting on the grant, Mr. Yinan Hu, founder and Chief Executive Officer of the Company, said, “Our team has shown remarkable confidence in Fanhua’s growth potential and business value, despite short-term fluctuations in the stock price due to certain industry policy impacts. By granting restricted shares, we enable our key talent to further benefit from the Company’s success and growth. Their commitment to a service period further demonstrates their confidence in the Company’s strategic direction.”

About Highest Performances Holdings Inc. (NASDAQ: HPH)

HPH was founded in 2010 with the aim of becoming a top provider of smart home and enterprise services. Its mission is to improve the quality of life for families worldwide, focusing on two main driving forces: “technological intelligence” and “capital investments.”HPH has a global strategic perspective and identifies high-quality enterprises with global potential for investment and operations. Its areas of focus include asset allocation, education and study tours, cultural tours, sports events, healthcare and elderly care and family governance.

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HPH currently holds controlling interests in two leading financial service providers in China, namely Fanhua Inc., a technology-driven platform, and Fanhua Puyi Fund Distribution Co., Ltd., an independent wealth management service provider.

Highest Performances Holdings Inc., formerly known as Puyi Inc., was renamed on March 13, 2024 to reflect its strategic transformation.

About FANHUA

Established in Guangzhou in 1998 and listed on NASDAQ in 2007 (Nasdaq: FANH), FANHUA is a leading independent financial services provider in China with strong technology capabilities and a commitment to empowering financial advisors and fostering sustained value creation for customers.

Our mission revolves around creating an inclusive and collaborative platform for independent financial advisors, as well as various insurance/financial sales organizations, enabling our partners to optimize their practices by offering them end-to-end business solutions spanning compliance, technology, products, services, operations, capital flow, and professional training.

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Leveraging advanced technology, artificial intelligence, and data-driven insights, Fanhua is at the forefront of revolutionizing financial services delivery, accelerating digital transformation, and driving industry growth.

With a comprehensive approach to financial services, we connect millions of Chinese families with various financial institutions and service providers, offering a diverse range of opportunities and personalized solutions for insurance protection, retirement planning, health management, asset management, and family governance services, covering the full lifecycle of our customers’ needs.

Forward-looking Statements

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 U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will”, “expects”, “believes”, “anticipates”, “intends”, “estimates” and similar statements. Among other things, management’s quotations contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about FANHUA and the industry. Potential risks and uncertainties include, but are not limited to, those relating to its ability to attract and retain productive agents, especially entrepreneurial agents, its ability to maintain existing and develop new business relationships with insurance companies, its ability to execute its growth strategy, its ability to adapt to the evolving regulatory environment in the Chinese insurance industry, its ability to compete effectively against its competitors, quarterly variations in its operating results caused by factors beyond its control and macroeconomic conditions in China and their potential impact on the sales of insurance products. Except as otherwise indicated, all information provided in this press release speaks as of the date hereof, and FANHUA undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although FANHUA believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by FANHUA is included in FANHUA’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F.

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ST PETER PORT, Guernsey, July 8, 2024 /PRNewswire/ — The International Stock Exchange (TISE) listed 444 securities during the first half of 2024, an 18.4% increase on the equivalent period last year.

The new listings contributed to the total number of securities on TISE’s Official List reaching 4,371 on 30 June 2024, which is an increase of 5.6% year-on-year and a record high in the history of the Exchange.

The total market value of all listed securities surpassed the £700 billion mark for the first time, reaching £708 billion at the end of June.

Cees Vermaas, CEO of TISE, said: “I am delighted to report strong listing volumes on our public market during the first half of 2024. Global macro-economic conditions had subdued listing activity across the European corporate bond markets during the last couple of years but, with inflation under control, interest rates coming down and an improved outlook for growth, business flows have now started to recover. We are very pleased that clients continue to recognise our strengths as a leading European venue for listing bonds offered to institutional and professional investors.”

During the first half of the year, there were 436 newly listed securities admitted to TISE’s leading European professional bond market, the Qualified Investor Bond Market (QIBM). TISE has maintained its market-leader position across both private equity debt and high yield bonds and with the securitisation market also rebounding in 2024, TISE continues to grow its reputation as a listing venue for this debt product.

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There were eight newly listed securities across TISE’s equity market during the first six months of the year as it sustained its position as the second largest venue for listed UK REITs, just behind the London Stock Exchange (LSE).

Mr Vermaas added: “This is a very positive opening six months of the year. We saw strong growth in new listings during the first quarter and this has continued through the second quarter as the soft-landing narrative has been sustained, primarily owing to the resilient growth in the US economy. M&A activity is returning, the wave of refinancing continues and now a lower interest rate environment is bringing more new high yield corporates to the market. A continuation of this upward momentum in the economic picture gives us reason to be optimistic for the second half of the year.”

View original content:https://www.prnewswire.co.uk/news-releases/tise-reports-sustained-listings-growth-in-first-half-302190817.html

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KANSAS CITY, Mo., July 8, 2024 /PRNewswire/ — Lockton is pleased to announce that Travis Leonard has joined the firm as Chief Financial Officer (CFO), succeeding Troy Cook who has occupied the role since 2020. Cook will transition to the role of Corporate Development as an advisor to Ron Lockton, Chairman and CEO.

Leonard is a highly regarded and deeply qualified finance executive with experience working in global markets. He will begin serving as Lockton’s CFO on July 8, 2024, and will work closely with Cook to execute a transition of duties and an in-depth onboarding process.

“We are excited Travis is joining Lockton’s global leadership team,” said Ron Lockton, Chairman and CEO. “He brings a wealth of financial experience, a global perspective and great energy to support the future growth of Lockton.”

Leonard has worked across various industry segments and global markets, excelling in financial leadership roles and leading significant transformation projects. Most recently, Leonard was the CFO of Hostess Brands, until the sale to J.M. Smucker Co. in November 2023. Prior to that, Travis was the CFO of the medical segment at Cardinal Health and held financial leadership roles at Kraft Foods, including time in Brazil, and Cargill after beginning his career at Arthur Andersen as a finance and economic consultant.

Travis was raised in the Kansas City metropolitan area and went on to attend the University of Illinois-Urbana-Champaign where he earned his BS in Finance followed by earning his MBA at Northwestern University – Kellogg School of Management.

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Cook will remain on the Lockton, Inc. board of directors and will move into the role of EVP of Corporate Development, reporting to Ron Lockton, Chairman and CEO. In this role, Troy will actively assist in the transition of duties and onboarding of Travis while partnering with leadership on global development opportunities and playing an advisory role to the CEO.

“I am grateful for Troy’s commitment and leadership as CFO during a very important growth period for the company,” said Lockton. “When Troy transitioned from the role of independent board member to CFO in 2020, it was planned to be a 5-year term. He has helped position Lockton for strong, sustained growth and will continue to have a positive impact on Lockton through this planned transition and leadership in corporate development.”

Lockton, Inc. is excited to welcome Travis Leonard to the team and looks forward to the contributions he will make to the company’s future growth and success.

About Lockton

What makes Lockton stand apart is also what makes us better: independence. Lockton’s private ownership empowers its 11,700+ Associates doing business in over 140 countries to focus solely on clients’ risk, insurance and people needs. With expertise that reaches around the globe, Lockton delivers the deep understanding needed to accomplish remarkable results. For more information, visit www.lockton.com 

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