The board of directors of Fanhua Inc. announced that Mr. Lichong Liu has been appointed as the vice president and chief operating officer (COO) of the Company to oversee corporate operations, and that Mr. Jun Li has been appointed as the vice president and chief digital officer (CDO) of the Company to accelerate the Company's digital transformation, effective immediately. Mr. Lichong Liu joined Fanhua in 2006, and has previously served in various leadership positions including chairman and chief executive officer of Fanhua Insurance Sales Service Group Company Limited, the onshore holding company of Fanhua's main operating entities, vice president of Fanhua's life insurance unit, and general manager of Fanhua Hebei and Shandong agency branches. Prior to that, he had held various managerial roles in leading life insurance companies in China.

Mr. Jun Li has worked with Fanhua since 2008, and has previously served as chief technology officer of Fanhua Insurance Sales Service Group Company Limited and Baowang, the company's online insurance distribution platform, general manager of Fanhua's Information Technology Department and director of Fanhua's Information Center. Prior to joining Fanhua, he had served as head of technology development in several leading life insurance companies in China.