Recent Updates — AIFU

AIFU Inc. reported net income from continuing operations of RMB48.1 million (US$7.1 million) for the six months ended June 30, 2026, a significant turnaround from a net loss of RMB473.3 million in the prior year period. Total net revenues decreased 24.0% to RMB226.2 million (US$33.3 million), driven by lower renewal commissions and a shift toward shorter-duration products in its life insurance segment, which accounted for 92.6% of revenue. The company executed a 1-for-20 reverse stock split that became market effective on June 16, 2026, following shareholder approval on April 29, 2026. Operating income improved to RMB32.9 million from an operating loss of RMB7.8 million, aided by a 50.0% reduction in general and administrative expenses due to personnel optimization and lower share-based compensation. The company operates as an insurance agency and health and wellness product distributor in China.

AIFU Inc. announced on September 24, 2026, that it entered into a definitive share purchase agreement for a $135.0 million non-brokered private placement. The company will issue and sell 45,000,000 Class A ordinary shares at $3.0 per share to certain investors. Additionally, the transaction includes warrants to purchase up to 90,000,000 additional Class A ordinary shares, with exercise prices set at 200% and 250% of the per-share purchase price for equal portions of the warrants. The closing is expected by the end of October 2026, subject to customary conditions. Upon completion, total outstanding shares will reach 61,175,748, with the largest investor holding approximately 56.12% of the equity but only 3.19% of voting power. The net proceeds will support business plans and general corporate purposes. AIFU Inc. operates in the financial technology sector as an AI-driven independent insurance intermediary platform in China.

AIFU Inc. completed the issuance of 10,000,000 Class B ordinary shares to Expansion Group Ltd. on September 24, 2026, pursuant to an agreement dated September 9, 2026. The shares were sold at US$0.002 per share, generating aggregate gross proceeds of US$20,000 for general working capital. Post-issuance, AIFU has 16,175,748 total outstanding ordinary shares (5,925,748 Class A and 10,250,000 Class B). Expansion Group now holds approximately 63.37% of total issued shares and 99.43% of voting power. AIFU Inc. operates in the artificial intelligence industry.

AIFU Inc. entered into a share subscription agreement with Expansion Group Ltd. on September 9, 2026, for the issuance of 10,000,000 Class B ordinary shares at US$0.002 per share, generating total gross proceeds of US$20,000. The funds are designated for general working capital purposes, with completion expected by the end of September 2026 subject to customary closing conditions. Following this transaction, Expansion Group Ltd. will hold 10,250,000 Class B ordinary shares and 13 Class A ordinary shares, representing 63.37% of total issued and outstanding ordinary shares and 99.43% of aggregate voting power. The company operates in the artificial intelligence sector.

AIFU Inc. announced the immediate resignation of Chief Financial Officer Huaguang Huang on August 17, 2026, citing personal reasons and no operational disagreements. The Board simultaneously appointed Shanyu Chang as the new CFO with immediate effect. Ms. Chang brings over 14 years of financial management experience, including expertise in U.S. GAAP reporting and internal controls, having served as a US GAAP Senior Specialist at AIFU since 2014. This executive change represents a material leadership transition for the company.