BEIJING, Feb. 23 (Xinhua) -- China's leading financial services provider Fanhua Inc. announced recently that it has signed the first execution agreement with Singapore's White Group Pte. Ltd. according to the strategic investment framework agreement previously disclosed.
It is learned the agreement involves three aspects, according to which White Group Pte. Ltd. and its partners will invest 500 million U.S. dollars in Fanhua Inc., helping Fanhua Inc. advance its intelligent development and international expansion, as well as promoting asset cooperation between the two parties in medical services and AI bionic robot manufacturing.
After the completion of the investment, the chairman of Fanhua Inc. will also be replaced.
Founded in 1998, Fanhua Inc. was listed on the NASDAQ main board in 2008 and has developed into a third-party intelligent financial service platform. It mainly provides individual agents and sales organizations with comprehensive solutions integrating technology, products, services, operations, capital and professional support.
Industry insiders believe that this move has opened up for Fanhua Inc. in intelligent development and the cooperation with White Group Pte. Ltd. will help Fanhua Inc. enter the AI field.
(Edited by Bao Nuomin with Xinhua Silk Road, baonuomin@xinhua.org)
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