FAST NEWS: Waterdrop Flows to Profit After Cost-Control Measures

The latest: Online insurer Waterdrop Inc. (WDH.US) successfully turned a loss into a profit in the first quarter of the year, with a net profit of 105 million yuan ($15.6 million) from a net loss of 370 million yuan in the same period last year, according to its latest results published on Wednesday. Looking up: The company’s cost-control measures since the third quarter of last year have borne fruit, with operating costs and expenses dropping 60.4% to 532 million yuan in the first quarter – the main reason for the turnaround. Take Note: Its first-quarter…

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Fanhua to Leave Wall Street. Next Stop, Hong Kong?

Fanhua has announced a plan to delist from New York, with founder Hu Yinan retaking the company’s helm Key takeaways: Online insurance broker announces plan to privatize as China gets set to roll out tough new regulations in January Company could go public again in Hong Kong, but analysis suggests such a listing would have difficulty achieving a high valuation By Jony Ho Of the three major U.S.-listed Chinese online insurance brokers, the oldest has just announced a plan to go private. That would leave the field with just two,…

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