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CNinsure Q3 revenues increases by 5% to $64m

IBR Staff Writer Published 30 November 2012

Independent insurance intermediary company CNinsure has reported total net revenues of RMB403m ($64.1m) for the third quarter of 2012, with an increase of 5%, compared to same period, last year.

Net income attributable to the company's shareholders was RMB23m ($3.7m), with a decrease of 70.6% from the same period earlier year.

Basic and diluted net income per ADS stood at RMB0.46 ($0.07) and RMB0.46 ($0.07), respectively, representing decreases of 70.6% and 70.1%, respectively, from the same period in 2011.

For the quarter period ended on 30 September 2012, its operating income decreased by 96% to RMB2.9m ($0.5m), from the comparable period, a year ago.

Non-GAAP operating income stood at RMB16.1m ($2.6m), which excluded share-based compensation expenses for the third quarter of 2012, represented a decrease of 85%, against the corresponding period last fiscal.

CNinsure distributes numerous property and casualty and life insurance products underwritten by domestic and foreign insurance companies trading in China, and provides insurance claims adjusting as well as other insurance-related services.