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Chinese insurance broker Fanhua issues Q2 operating income forecast

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Chinese insurance broker Fanhua issues Q2 operating income forecast

China-based insurance broker Fanhua Inc. expects its second-quarter operating income to be at least 100 million Chinese yuan.

For the first quarter ended March 31, the company reported a 63.3% year-over-year increase in operating income to 90.2 million yuan from 55.2 million yuan in the prior-year quarter. Net income attributable to the company's shareholders rose 86.7% to 130.2 million yuan from 69.7 million yuan, the company said May 21.

Fanhua also noted that its board on May 12 declared an annual aggregate dividend of US$1 per American depositary share, or 5 cents per ordinary share, payable quarterly. The first quarterly dividend will be 25 cents per ADS or 1.25 cents per ordinary share, payable on or around June 11 to shareholders of record June 4.

As of May 21, US$1 was equivalent to 6.38 Chinese yuan.