v3.26.1
Segment Reporting
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting

(25) Segment Reporting

 

During the fiscal year December 31, 2025, the Group disposed of Meidiya and its subsidiaries including the operating entity of its former claims adjusting business, which constituted a discontinued operation. As the discontinued operation previously formed the claims adjusting reportable segment, the comparative segment information has been retrospectively revised to reflect continuing operations only. As of December 31, 2025, the Group operated two segments: (1) the insurance agency segment, which mainly consists of providing agency services for distributing life and non-life insurance products on behalf of insurance companies.Operating segments are defined as components of an enterprise about which separate financial information is available and evaluated regularly by the Group’s chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Group’s CODM is the Chief Executive Officer. 

 

The following table shows the Group’s operations by business segment for the years ended December 31, 2023, 2024 and 2025. Other represents revenue and expenses that are not allocated to reportable segments and corporate related items.

 

   For the year ended December 31, 2025 
   Agency   Other   Consolidated   Consolidated 
   RMB   RMB   RMB   USD 
   (In thousands) 
Total revenues   556,567    —　    556,567    79,588 
Operating costs and expenses:   　    　    　    　 
Cost of revenues   (282,300)   —　    (282,300)   (40,369)
Selling expenses   (60,655)   —　    (60,655)   (8,674)
General and administrative expenses   (182,016)   (70,653)   (252,669)   (36,131)
Total operating costs and expenses   (524,971)   (70,653)   (595,624)   (85,174)
Operating profit (loss)   31,596    (70,653)   (39,057)   (5,586)
Loss from fair value change   
—
    (24,976)   (24,976)   (3,572)
Investment income   
—
    39,483    39,483    5,646 
Gains from disposal of subsidiaries   (25,084)   (91,521)   (116,605)   (16,674)
Interest income   63    30,144    30,207    4,320 
Financial cost   (3,686)   (24)   (3,710)   (531)
Others,net   13,960    (2,172,548)   (2,158,588)   (308,673)
Income (Loss) before income taxes   16,849    (2,290,095)   (2,273,246)   (325,070)
Income Tax expense   (1,063)   (2,957)   (4,020)   (575)
Net income (loss)   15,786    (2,293,052)   (2,277,266)   (325,645)
Less: net income (loss) attributable to non-controlling interests   1,350    —　    1,350    193 
Net income (loss) attributable to AIFU Inc.   14,436    (2,293,052)   (2,278,616)   (325,838)

 

   For the year ended December 31, 2024 
   Agency   Other   Consolidated 
   RMB   RMB   RMB 
   (In thousands) 
Total revenues   1,331,778    
—
    1,331,778 
Operating costs and expenses:               
Cost of revenues   (799,781)   
—
    (799,781)
Selling expenses   (86,372)   (17,922)   (104,294)
General and administrative expenses   (329,519)   (141,181)   (470,700)
Impairment loss   (404,121)   
—
    (404,121)
Total operating costs and expenses   (1,619,793)   (159,103)   (1,778,896)
Operating loss   (288,015)   (159,103)   (447,118)
Loss from fair value change   
—
    (78,499)   (78,499)
Investment income   42,288    
—
    42,288 
Gains from disposal of subsidiaries   
—
    897,306    897,306 
Interest income   2,144    12,948    15,092 
Financial cost   (4,450)   1,135    (3,315)
Others,net   (136,875)   112,429    (24,446)
(Loss) Income before income taxes   (384,908)   786,216    401,308 
Income tax expense   11,867    (103,821)   (91,954)
Share of loss of affiliates   
—
    (5,052)   (5,052)
Net (loss) income   (373,041)   677,343    304,302 
Less: net loss attributable to non-controlling interests   (148,720)   
—
    (148,720)
Net (loss) income attributable to AIFU Inc.   (224,321)   677,343    453,022 
   For the year ended December 31, 2023 
   Agency   Other   Consolidated 
   RMB   RMB   RMB 
Net revenues:  (In thousands) 
Total net revenues   2,760,448    
—
    2,760,448 
Operating costs and expenses:               
Total operating costs   (1,868,672)   
—
    (1,868,672)
Selling expenses   (131,934)   (19,896)   (151,830)
General and administrative expenses   (421,780)   (141,693)   (563,473)
Impairment loss   
—
    
—
    
—
 
Total operating costs and expenses   (2,422,386)   (161,589)   (2,583,975)
Income (Loss) from operations   338,062    (161,589)   176,473 
Other income, net:               
Gains from fair value change   
—
    102,867    102,867 
Investment income related to the realized gain on available-for-sale investments   7,221    41,029    48,250 
Losses from disposal of subsidiaries   (2,904)   
—
    (2,904)
Interest income   1,448    13,557    15,005 
Financial cost   (10,055)   
—
    (10,055)
Others, net   3,457    15,674    19,131 
Income before income taxes, share of income and impairment of affiliates, net   337,229    11,538    348,767 
Income tax expense   (57,086)   (2,120)   (59,206)
Share of income of affiliates, net of impairment   (1,317)   
—
    (1,317)
Net income   278,826    9,418    288,244 
Less: net income attributable to the noncontrolling interests   4,773    
—
    4,773 
Net income attributable to the Company’s shareholders   274,053    9,418    283,471 

 

Substantially all of the Group’s revenues for the three years ended December 31, 2023, 2024 and 2025 were generated from the PRC. A substantial portion of the identifiable assets of the Group is located in the PRC. Accordingly, no geographical segments are presented.