Fanhua announced that its board of directors has authorized the expansion of the company’s share repurchase program by an additional $20M, bringing the total authorized amount of share repurchase to $40M. The share repurchase program was intended to enhance shareholder returns and signals the company’s confidence in its long-term growth prospects. As of June 30, 2024, approximately 726,616 American Depository Shares had been repurchased at an aggregate purchase price of approximately $5.4M since the inception of the share repurchase program in December 2022.
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