AIFU Inc 6-K, filed May 27, 2022

AIFU Inc. (AIFU)

6-K 2022-05-27 For: 2022-05-27

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Added on April 11, 2026

About this 6-K

AIFU Inc filed this 6-K on May 27, 2022.

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	Fanhua Inc.

	By:	/s/ Yinan Hu
	Name: Title:	Yinan Hu Chief Executive Officer

Exhibit No.		Description.

Exhibit 99.1		Press Release
Exhibit 99.2		Press Release

(In thousands, except per ADS)	2021Q1 (RMB)		2022Q1 (RMB)			2022Q1 (US$)			Change %
Total net revenues		1,095,029		686,387			108,275			(37.3	)
Operating income		140,401		20,589			3,248			(85.3	)
Impairment on investment in an affiliate		—		(78,277	)		(12,348	)		N/A
Net income (loss) attributable to the Company’s shareholders		138,385		(37,838	)		(5,969	)		N/A
Non-GAAP net income attributable to the Company’s shareholders²		138,385		40,439			6,379			(70.8	)
Basic and diluted net income (loss) per ADS		2.58		(0.70	)		(0.11	)		N/A
Non-GAAP diluted net income per ADS³		2.58		0.75			0.12			(70.9	)
Cash, cash equivalents and short-term investments (As of March 31, 2021 and 2022)		1,624,399		1,281,469			202,146			(21.1	)

United States	1-833-239-5565
Hong Kong, China	800-906-601
South Korea	080-850-0474

China (Mainland)	400-820-5286
Hong Kong, China & Other Areas	+852 30-186-771
United Kingdom	+44 203-692-8125
Conference ID #: 4067079

	As of December 31,			As of March 31,			As of March 31,
	2021			2022			2022
	RMB			RMB			US$
ASSETS:
Current assets:
Cash and cash equivalents		564,624			629,551			99,309
Restricted cash		76,303			76,229			12,025
Short term investments		870,682			651,918			102,837
Accounts receivable and contract assets, net		653,757			638,082			100,655
Other receivables		60,755			71,650			11,302
Investment in affiliates		—			258,419			40,765
Other current assets		39,947			45,120			7,118
Total current assets		2,266,068			2,370,969			374,011

Non-current assets:
Restricted bank deposit - non current		15,595			15,608			2,462
Contract assets, net - non-current		192,114			223,097			35,193
Property, plant, and equipment, net		46,800			103,453			16,319
Goodwill and intangible assets, net		109,869			109,869			17,332
Deferred tax assets		18,728			25,669			4,049
Investment in affiliates		335,808			6,342			1,000
Other non-current assets		31,459			31,310			4,939
Right of use assets		225,677			201,138			31,729
Total non-current assets		976,050			716,486			113,023
Total assets		3,242,118			3,087,455			487,034
Current liabilities:
Accounts payable and accrued commissions		377,558			315,358			49,746
Insurance premium payables		24,054			25,703			4,055
Other payables and accrued expenses		178,157			165,392			26,090
Accrued payroll		111,672			87,386			13,785
Income tax payable		130,222			132,090			20,837
Dividend payable		—			51,079			8,057
Current operating lease liability		87,012			87,072			13,735
Total current liabilities		908,675			864,080			136,305

Non-current liabilities:
Accrued commissions – non-current		97,869			113,653			17,929
Other tax liabilities		73,213			64,072			10,107
Deferred tax liabilities		73,716			76,217			12,023
Non-current operating lease liability		128,283			107,269			16,921
Total non-current liabilities		373,081			361,211			56,980
Total liabilities		1,281,756			1,225,291			193,285

Ordinary shares		8,089			8,091			1,276
Statutory reserves		557,221			557,221			87,900
Retained earnings		1,311,715			1,222,799			192,892
Accumulated other comprehensive loss		(39,140	)		(44,575	)		(7,032	)
Total shareholders’ equity		1,837,885			1,743,536			275,036
Non-controlling interests		122,477			118,628			18,713
Total equity		1,960,362			1,862,164			293,749
Total liabilities and equity		3,242,118			3,087,455			487,034

	For the Three Months Ended
	March 31,
	2021			2022			2022
	RMB			RMB			USD
Net revenues:
Agency		1,000,104			587,988			92,753
Life insurance business		969,234			558,574			88,113
P&C insurance business		30,870			29,414			4,640
Claims adjusting		94,925			98,399			15,522
Total net revenues		1,095,029			686,387			108,275
Operating costs and expenses:
Agency		(674,018	)		(383,443	)		(60,487	)
Life insurance Business		(652,682	)		(363,527	)		(57,345	)
P&C insurance Business		(21,336	)		(19,916	)		(3,142	)
Claims adjusting		(63,639	)		(67,249	)		(10,608	)
Total operating costs		(737,657	)		(450,692	)		(71,095	)
Selling expenses		(78,403	)		(74,868	)		(11,810	)
General and administrative expenses		(138,568	)		(140,238	)		(22,122	)
Total operating costs and expenses		(954,628	)		(665,798	)		(105,027	)
Income from operations		140,401			20,589			3,248
Other income, net:
Investment income		10,233			4,054			639
Interest income		526			679			107
Others, net		1,477			9,973			1,573
Income from operations before income taxes and share income of affiliates		152,637			35,295			5,567
Income tax expense		(32,701	)		(6,348	)		(1,001	)
Share of income of affiliates, net of impairment		15,362			(70,634	)		(11,142	)
Net income (loss)		135,298			(41,687	)		(6,576	)
Less: net loss attributable to non-controlling interests		(3,087	)		(3,849	)		(607	)
Net income (loss) attributable to the Company’s shareholders		138,385			(37,838	)		(5,969	)

	For The Three Months Ended March 31
	2021								2022
	GAAP			Impairment on investment in affiliates		Non-GAAP			GAAP			Impairment on investment in affiliates			Non-GAAP			Change%
Net revenues		1,095,029			—		1,095,029			686,387			—			686,387			(37.3	)
Income from operations		140,401			—		140,401			20,589			—			20,589			(85.3	)
Operating margin		12.8	%		—		12.8	%		3.0	%					3.0	%		(76.6	)
Share of income of affiliates, net of impairment		15,362			—		15,362			(70,634	)		(78,277	)		7,643			(50.2	)
Net income (loss) attributable to the Company’s shareholders		138,385			—		138,385			(37,838	)		(78,277	)		40,439			(70.8	)
Net margin		12.6	%				12.6	%		(5.5	%)					5.9	%		(53.2	)
Net income (loss) per share:
Basic		0.13			—		0.13			(0.04	)		—			0.04			(69.2	)
Diluted		0.13			—		0.13			(0.04	)		—			0.04			(69.2	)
Net income (loss) per ADS :
Basic		2.58			—		2.58			(0.70	)		—			0.75			(70.9	)
Diluted		2.58			—		2.58			(0.70	)		—			0.75			(70.9	)
Shares used in calculating net income (loss) per share :
Basic		1,073,891,784			—		1,073,891,784			1,073,994,006			—			1,073,994,006			—
Diluted		1,074,291,239			—		1,074,291,239			1,073,994,006			—			1,073,994,006			—

	For The Three Months Ended
	March 31,
	2021			2022			2022
	RMB			RMB			US$
OPERATING ACTIVITIES
Net income (loss)		135,298			(41,687	)		(6,576	)
Adjustments to reconcile net income to net cash generated from operating activities:
Investment income		(92	)		(1,649	)		(260	)
Share of income of affiliates, net of impairment		(15,362	)		70,634			11,142
Other non-cash adjustments		37,914			35,655			5,623
Changes in operating assets and liabilities		(77,307	)		(150,027	)		(23,664	)
Net cash generated from (used in) operating activities		80,451			(87,074	)		(13,735	)
Cash flows from investing activities:
Purchase of short term investments		(2,767,430	)		(855,000	)		(134,873	)
Proceeds from disposal of short term investments		3,220,073			1,068,447			168,543
Others		2,874			(61,764	)		(9,743	)
Net cash generated from investing activities		455,517			151,683			23,927
Cash flows from financing activities：
Others		(10,200	)		3			—
Net cash (used in) generated from financing activities		(10,200	)		3			—
Net increase in cash, cash equivalents and restricted cash		525,768			64,612			10,192
Cash, cash equivalents and restricted cash at beginning of period		350,098			656,522			103,564
Effect of exchange rate changes on cash and cash equivalents		(6,528	)		254			40
Cash, cash equivalents and restricted cash at end of period		869,338			721,388			113,796