This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CNinsure Reports Fourth Quarter And Fiscal Year 2013 Unaudited Financial Results

Stocks in this article: CISG

GUANGZHOU, China, March 10, 2014 (GLOBE NEWSWIRE) -- CNinsure Inc, (Nasdaq:CISG), (the "Company" or "CNinsure"), a leading independent insurance intermediary company operating in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2013 1.

Financial Highlights for Fourth Q uarter of 2013

  • Total net revenues: RMB503.8 million (US$83.2 million), representing an increase of 15.6% from the corresponding period in 2012.  
  • Operating income: RMB14.4 million (US$2.4 million), representing an increase of 125.1% from the corresponding period in 2012.  
  • Net income attributable to the Company's shareholders: RMB24.7 million (US$4.1 million), representing an increase of 23.2% from the corresponding period in 2012.  
  • Adjusted EBITDA: RMB36.4 million (US$6.0 million), representing an increase of 8.3% from the corresponding period in 2012.  
  • Basic and diluted net income per ADS: RMB0.49 (US$0.08) and RMB0.49 (US$0.08), respectively, representing increases of 23.5% and 24.0%, respectively, from the corresponding period in 2012.

Highlights for Fiscal Year 201 3

  • Total net revenues: RMB1.8 billion (US$290.2 million), representing an increase of 10.8% from 2012.  
  • Operating income: RMB18.0 million (US$3.0 million), representing a decrease of 72.7% from 2012.  
  • Net income attributable to the Company's shareholders: RMB95.6 million (US$15.8 million), representing a decrease of 26.7% from 2012.  
  • Adjusted EBITDA: RMB124.2 million (US$20.5 million), representing a decrease of 36.5% from 2012.  
  • Basic and diluted net income per ADS: RMB1.92 (US$0.32) and RMB1.91 (US$0.32), respectively, representing decreases of 26.5% and 26.4%, respectively, from 2012. 

Commenting on the fourth quarter financial results, Mr. Chunlin Wang, CNinsure's chief executive officer, stated, "We delivered much stronger top line growth than expected in the fourth quarter of 2013, reflecting solid performance in our property and casualty insurance and claims adjusting businesses. With disciplined expense management in the fourth quarter of 2013, our operating expense to revenue ratio dropped year-over-year, which translated into improved operating profit and stellar profit growth in the fourth quarter of 2013.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs