Yinan Hu Amends FANHUA Stake, Signals Continued Influence

TL;DR

**Yinan Hu just updated his FANHUA INC. ownership, signaling continued insider involvement.**

AI Summary

Yinan Hu, through Sea Synergy Limited and Summer Day Limited, filed an Amendment No. 3 to Schedule 13D on January 5, 2024, reporting a change in beneficial ownership of FANHUA INC. ordinary shares as of December 29, 2023. This filing updates previous disclosures regarding his significant stake in the company, indicating ongoing involvement and potential influence over FANHUA INC.'s strategic direction. Investors should note this continued substantial ownership as it suggests a key insider remains deeply invested, which can be a signal of confidence or a precursor to further corporate actions.

Why It Matters

This filing shows that a major insider, Yinan Hu, continues to hold a significant stake in FANHUA INC., which could impact future company decisions and stock performance.

Risk Assessment

Risk Level: low — This is an amendment to an existing filing, indicating a change in beneficial ownership by an insider, which is generally a routine disclosure.

Analyst Insight

Investors should monitor future filings by Yinan Hu for any significant changes in his ownership stake, as this could signal further strategic moves or changes in confidence regarding FANHUA INC.

Key Players & Entities

• Yinan Hu (person) — beneficial owner and reporting person for FANHUA INC. ordinary shares
• FANHUA INC. (company) — the subject company whose ordinary shares are being reported
• Sea Synergy Limited (company) — group member and reporting person associated with Yinan Hu
• Summer Day Limited (company) — group member and reporting person associated with Yinan Hu
• December 29, 2023 (date) — date of event requiring the filing of this statement

FAQ

Filing Documents

• ea191229-13da3hu_fanhua.htm (SC 13D/A) — 73KB
• ea191229ex99-1_fanhua.htm (EX-99.1) — 8KB
• ea191229ex99-2_fanhua.htm (EX-99.2) — 6KB
• 0001213900-24-001318.txt ( ) — 89KB

Source and Amount of Funds or Other

Item 3. Source and Amount of Funds or Other Consideration The information set forth in Item 4 and Item 6 is hereby incorporated by reference into this Item 3.

Purpose of Transaction

Item 4. Purpose of Transaction Item 4 is hereby amended and supplemented in its entirety as follows: On December 27, 2023, Sea Synergy, which is 100% beneficially owned by Mr. Yinan Hu, and the shareholding vehicles of certain other executive officers of the Issuer entered into a Share Exchange Agreement with Puyi Inc. (“Puyi”), pursuant to which Sea Synergy agreed to exchange 189,698,110 Ordinary Shares of the Issuer beneficially owned by Sea Synergy for 94,849,055 newly issued o rdinary s hares of Puyi, representing 25.6% of the equity interests of Puyi. Concurrently, Puyi has also entered into a similar share exchange agreement with Certain Other Shareholders. Participants to the share exchange transactions are collectively referred to as the “Participating Shareholders”. Upon completion of the transactions on December 29, 2023, Sea Synergy and other Participating Shareholders collectively own 76.7% of the equity interests of Puyi while Puyi own 50.1% of the equity interests of the Issuer. The foregoing description of the Share Exchange Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Share Exchange Agreement, which is filed as Exhibit 99.3 hereto and which is incorporated herein by reference.

Interest in Securities of the Company

Item 5. Interest in Securities of the Company

is hereby amended and restated in its entirety

Item 5 is hereby amended and restated in its entirety as follows: (a), (b) The following table sets forth the beneficial ownership of Ordinary Shares of the Issuer for each of the Reporting Persons. Number of Shares as to which Such Person has: Name Amount Beneficially Owned(1) Percentage of Class(2) Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Sea Synergy (3) 0 0.00 % 0 0 0 0 Summer Day (3) 0 0.00 % 0 0 0 0 Yinan Hu(4) 10,041,200 0.88 % 10,041,200 0 10,041,200 0 (1) Beneficial ownership is determined in accordance with Rule 13d-3 of the General Rules and Regulations under the Exchange Act and includes voting or investment power with respect to the securities. CUSIP No. G3314G 102 SCHEDULE 13D Page 6 of 7 (2) Percentage of beneficial ownership of each listed person is based on 1,134,751,504 Ordinary Shares outstanding as of December 20, 2023. (3) Sea Synergy is 100% held by Summer Day Limited which is 100% owned by Mr. Hu. Pursuant to Section 13(d) of the Exchange Act and the rules promulgated thereunder, Summer Day and Mr. Hu may be deemed to beneficially own all of the Ordinary Shares of the Issuer held by Sea Synergy. As the result of the share exchange between Sea Synergy and Puyi, the number of Ordinary Shares of the Issuer held by Sea Synergy and beneficially owned by Summer Day decreased from 189,698,110 to nil, and Sea Synergy and Summer Day ceased to be a 5% shareholder of the Issuer. (4) Represents 10,041,200 Ordinary Shares in the form of ADSs directly held by Mr. Hu. As a result of the share exchange between Sea Synergy and Puyi, the number of Ordinary Shares beneficially owned by Mr. Hu decreased from 199,739,310 to 10,041,200 and Mr. Hu ceased to be a 5% shareholder of the Issuer. Each Reporting Person hereby disclaims beneficial ownership of any Ordinary Shares of the Issuer beneficially owned by any other Reporting Person or any of the Other Participati

Contracts, Arrangements, Understandings,

Item 6. Contracts, Arrangements, Understandings, or Relationships with respect to Securities of the Company

is

Item 6 is hereby amended by incorporating by reference the information set forth in Item 4 above. Except as described above or elsewhere in this Statement or incorporated by reference in this Statement, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the Reporting Person and between the Reporting Persons and any person with respect to any securities of the Company, including, but not limited to, transfer or voting of any securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies.

Material to Be Filed as Exhibits

Item 7. Material to Be Filed as Exhibits Exhibit 99.1: Joint Filing Agreement dated January 5, 2024, by and among the Reporting Persons Exhibit 99.2: List of directors and executive officers of (i) Sea Synergy and (ii) Summer Day (filed herewith) Exhibit 99.3: Share Exchange Agreement among Sea Synergy Limited, Green Ease Limited, Kingsford Resources Limited and Puyi Inc. dated December 27, 2023 (incorporated by reference to Exhibit 99.3 to the Reporting Persons’ Schedule 13D/A filed with the Securities and Exchange Commission on December 27, 2023) CUSIP No. G3314G 102 SCHEDULE 13D Page 7 of 7

Signatures

Signatures After reasonable inquiry and to the best of my knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Date: January 5, 2024 SEA SYNERGY LIMITED By: /s/ Yinan Hu Name: Yinan Hu Title: Director SUMMER DAY LIMITED By: /s/ Yinan Hu Name: Yinan Hu Title: Director YINAN HU /s/ Yinan Hu [Signature Page to Schedule 13D Amendment]

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