Sean Anthony Eddy
- Insurance products distributor in China — Fanhua (NASDAQ:FANH) board of directors authorized the expansion share repurchase program by an additional $20M, bringing total authorized repurchase to $40M.
- As of June 30, 2024, ~726,616 ADS had been repurchased at an aggregate purchase price of ~$5.4M since the inception of the share repurchase program in December 2022.
- Over the next 12 months, they intend to purchase up to $5M worth of shares.
- “Our decision to invest personal funds in Fanhua reflects our strong belief in the company’s future and our dedication to driving sustainable growth. We are confident in our strategic direction and are committed to delivering long-term value to our shareholders,” said Mr. Yinan Hu, founder and CEO.
- The stock price gained 10% on Friday during pre-market trade.