FANHUA Announces Share Exchange Transaction Between Certain Shareholders and Puyi Inc.

January 19, 2024

https://www.globenewswire.com/news-release/2023/12/27/2801272/13433/en/FANHUA-Announces-Share-Exchange-Transaction-Between-Certain-Shareholders-and-Puyi-Inc.html

GUANGZHOU, China, Dec. 27, 2023 (GLOBE NEWSWIRE) — FANHUA Inc. (“FANHUA” or “the Company”) (Nasdaq:FANH), a leading independent financial services provider in China, today announced that certain of FANHUA’s shareholders (collectively, “FANHUA Participating Shareholders”), entered into share exchange agreements with Puyi Inc. (Nasdaq:PUYI), a leading third party wealth management service provider in China. The FANHUA Participating Shareholders consist of Mr. Yinan Hu, co-chairman of the board of directors and chief executive officer of the Company, certain other executive officers of the Company, certain employees, and certain other shareholders.

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