AIFU Inc. - Class A Ordinary Share

We favor stable, recurring, and transparent cash flows. In 2025, net revenues fell to 556.6 million RMB and the company reported a 2.28 billion RMB net loss on very large credit and impairment charges, with negative operating cash flow of 16.3 million RMB.

The business mix is changing, key segments were divested, and a transformational pivot to industrial AI adds uncertainty. PRC regulatory and macro insurance demand risks further reduce visibility. Overall predictability is low.