CORRECTION - Fanhua Announces Changes to the Board of Directors and Management Team

Core Viewpoint - Fanhua Inc. has announced significant changes to its board of directors, including the appointment of Ms. Hang Suong Nguyen as the new Chairperson, effective September 30, 2024, which is seen as a strategic move towards growth and leveraging artificial intelligence [2][8]. Board Changes - Ms. Hang Suong Nguyen has been appointed as the new Chairperson of the Board, effective September 30, 2024 [2]. - Incumbent independent directors Mr. Yunxiang Tang and Mr. Allen Lueth, along with executive director Mr. Ben Lin, have resigned from the Board due to personal reasons, effective September 30, 2024 [4]. - Ms. Jiaxing Shi has been appointed as Independent Director and Chair of the Audit Committee, while Mr. Changfu Li has been appointed as Independent Director and Chair of the Compensation Committee, both effective September 30, 2024 [4]. New Chairperson Background - Ms. Hang Suong Nguyen has served as Vice President of WEALTH WILL LIMITED since June 2023, focusing on operational strategies and capital deployment in emerging markets [3]. - Prior to her current role, she was Sales Director at Trustwell Far East Pte. Ltd. from late 2018 to May 2023, where she contributed significantly to cross-border business [3]. New Independent Directors Background - Ms. Jiaxing Shi has been the Investment Operations Manager at YD Network Technology Co Ltd. since March 2024, with prior experience in senior audit roles [5]. - Mr. Changfu Li has over a decade of experience in senior management, focusing on strategic operations and cost management, and has served as a consulting advisor since November 2023 [6]. Company Overview - Fanhua Inc. is a leading independent technology-driven financial services provider in China, specializing in insurance-oriented family asset allocation services and a one-stop service platform for individual sales agents and independent insurance intermediaries [9]. - The company operates Baowang, an online insurance platform that offers a comprehensive insurance shopping experience [9].