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CISG.O

ISIN: US18976M1036
SEDOL: B28V2G8

Rating:

HOLD

Target Price:

8.58 USD

Investment Horizon:

6 to 12 months
27th May 2009 View Report   Download

1Q 09 News Alert

CNinsure Inc.’s (CNinsure) 1Q 09 total net revenues were marginally higher than our and Management expectations, while bottom-line was in line with our forecast. Management’s forecast for 2Q 09 net revenues exceeds our previous expectations. Although premiums industry-wide in China are expected to fall due to a change in government regulations, we believe that favorable demographics will provide sufficient support for insurance demand in China. Moreover…

21st Apr 2009 View Report   Download

4Q 08 & FY 2008 Update Report

We expect the company’s revenues to continue to grow at a relatively strong rate due to its wide distribution network across China and increased number of sales professionals. Although we believe the country’s high savings rate, weak social security system, growing elderly population and lack of alternative investment vehicles will support demand for insurance products in China, we expect the slowdown in the Chinese economy…

25th Feb 2009 View Report   Download

4Q 08 & FY 2008 News Alert

CNinsure Inc.’s (CNinsure) 4Q 08 total revenues beat our and Management estimates, with profitability also exceeding our expectations. Going forward, Management expects that, as a retail distributor of insurance products, CNinsure will not be as heavily impacted by macroeconomic conditions as other sectors and believes that growth in the Chinese insurance industry will continue. Although Management’s revenue guidance for 1Q 09 is slightly less…

21st Jan 2009 View Report   Download

3Q 08 Supplement Report

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On 20 January 2009, CNinsure Inc. (CNinsure) announced its preliminary results for 4Q 08, in which the company maintained its previous guidance for revenues. However, the company expects operating margin to decline in 4Q 08 due to an increase in share-based compensation expense. Consequently, we have reduced our operating margin estimate for 4Q 08. However, we believe that the company’s…

15th Jan 2009 View Report   Download

Company News Alert

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CNinsure Inc.’s (CNinsure) ADR price has declined significantly since we downgraded the ADR to a HOLD in our company news alert dated 05 January 2008. The decline in the ADR price reflects investors concerns regarding the impact of slowdown in global financial markets and its impact on financial stocks. We remain encouraged by the company’s ...