Exhibit 8.1
List of Subsidiaries and Affiliated Entities
(As of October 29, 2025)
| Subsidiaries and Affiliated Entities (1) | Percentage Attributable to Our Company | Place of Incorporation | ||||||
| 1. | Puyi Group Limited (2) | 100 | % | BVI | ||||
| 2. | AIFU Inc. (previously known as AIX Inc., Fanhua Inc. and CNinsure Inc.) (3) | 10.35 | % | CI | ||||
| 3. | Carve Group Ltd.(2) | 100 | % | BVI | ||||
| 4. | Yunshang Management Company Limited. (4) | 100 | % | HK | ||||
| 5. | Shenzhen Hillstar Management Consulting Co., Ltd. (5) | 100 | % | PRC | ||||
| 6. | Puyi Dake Information Technology Co., Ltd.(6) | 100 | % | PRC | ||||
| 7. | Zhongshen Resources Development (Liaoning) Co., Ltd.(6) | 100 | % | PRC | ||||
| 8. | Glyken Bird Nest Technologies (Shenzhen) Co., Ltd.(6) | 100 | % | PRC | ||||
| 9. | Guangxi Free Trade Zone Yanwo Bio-technology Co., Ltd.(7) | 90 | % | PRC | ||||
| 10. | Yanwa Brand Operation (Shenzhen) Co., Ltd..(8) | 100 | % | PRC | ||||
| 11. | Yanwo Health Food Technologies (Shenzhen) Co., Ltd..(8) | 100 | % | PRC | ||||
| 12. | Yan Ben Se Food Technologies (Shenzhen) Co., Ltd.(9) | 40 | % | PRC | ||||
| 13. | Real Prospect Limited(4) | 100 | % | HK | ||||
| 14. | Shenzhen Guibao Intelligent Management Co., Ltd.(10) | 100 | % | PRC | ||||
| 15. | Qingdao Youdian New Energy Technology Co., Ltd.(11) | 100 | % | PRC | ||||
| 16. | Qingdao Huiju Lai Xi Intelligent Technology Co., Ltd.(12) | 49 | % | PRC | ||||
| Subsidiaries and Affiliated Entities (1) of AIFU Inc. | ||||||||
| 1. | CISG Holdings Ltd. (13) | 10.35 | % | BVI | ||||
| 2. | BWWS Limited (13) | 10.35 | % | Hong Kong SAR | ||||
| 3. | Minkfair Insurance Management Limited (14) | 10.35 | % | Hong Kong SAR | ||||
| 4. | CNinsure Holdings Ltd. (15) | 10.35 | % | BVI & Hong Kong SAR | ||||
| 5. | Fanhua Zhonglian Enterprise Image Planning (Shenzhen) Co., Ltd. (16) | 10.35 | % | PRC | ||||
| 6. | Fanhua Xinlian Information Technology Consulting (Shenzhen) Co., Ltd. (16) | 10.35 | % | PRC | ||||
| 7. | Fanhua Insurance Sales Service Group Company Limited (17) | 10.35 | % | PRC | ||||
| 8. | Fanhua Yuntong Enterprise Management Advisory (Shenzhen) Co., Ltd. (Previously known as Shenzhen Bangbang Auto Services Co., Ltd.) (18) | 10.35 | % | PRC | ||||
| 9. | Ying Si Kang Information Technology (Shenzhen) Co., Ltd. (18) | 10.35 | % | PRC | ||||
| 10. | Tibet Zhuli Technologies Co. Ltd.(19) | 10.35 | % | PRC | ||||
| 11. | Hainan Yueshi Investment Co., Ltd.(19) | 10.35 | % | PRC | ||||
| 12. | Sichuan Yihe Investment Co., Ltd.(20) | 10.35 | % | PRC | ||||
| 13. | Zhongrong Smart Finance Information Technology Co., Ltd. (21) | 5.98 | % | PRC | ||||
| 14. | Rong Hui Hui (Qingdao) Technologies Service Co., Ltd. Rong Hui Hui (Qingdao) Technologies Service Co., Ltd. (22) | 5.98 | % | PRC | ||||
| 15. | Zhinengxin (Shenzhen) Technologies Co., Ltd.(23) | 10.35 | % | PRC | ||||
| 16. | Hainan Shangqing Investment Co., Ltd.(24) | 10.35 | % | PRC | ||||
| 17. | Beijing Fangyuan Culture Media Co. Ltd.(24) | 10.35 | % | |||||
| 18. | Qilinfu Capital (Shenzhen) Co., Ltd.(24) | 10.35 | % | PRC | ||||
| 19. | Jugou (Shenzhen) Technologies Co., Ltd.(25) | 10.35 | % | PRC | ||||
| Insurance Agencies and Brokers | ||||||||
| 20. | Fanhua Lianxing Insurance Sales Co., Ltd. (26) | 10.4 | % | PRC | ||||
| 21. | Liaoning Fanhua Gena Insurance Agency Co., Ltd. (27) | 10.4 | % | PRC | ||||
| 22. | Shanghai Fanhua Guosheng Insurance Agency Co., Ltd. (27) | 10.4 | % | PRC | ||||
| 23. | Hunan Fanhua Insurance Agency Co., Ltd. (28) | 8.0 | % | PRC | ||||
| 24. | Kafusi Insurance Brokerage Co., Ltd. (22) | 5.98 | % | PRC | ||||
| 25. | Hebei Xiong’an Fanhua Insurance Brokerage Co., Ltd. (Formerly known as Beijing Smart Finance Insurance Brokerage Co., Ltd)(18) | 10.35 | % | PRC | ||||
| 26. | Jilin Zhongji Shi’an Insurance Agency Co., Ltd. (29) | 5.3 | % | PRC | ||||
| Family Office Service Firms | ||||||||
| 27. | Fanhua Puyi Family Office (Beijing) Co., Ltd.(30) | 10.35 | % | PRC | ||||
| 28. | Puyi Family Office (Chengdu) Enterprise Management Consulting Co., Ltd.(31) | 10.35 | % | PRC | ||||
| (1) | The official names of those companies registered in PRC are in Chinese. The English translation is for reference only. |
| (2) | 100% of the equity interests in these companies are held directly by Maase. |
| (3) | 10.35% equity interests and 48.55% voting power in this company are held directly by Maase. |
| (4) | 100% of the equity interests in these companies are held directly by Carve Group Ltd. |
| (5) | 100% of the equity interests in this company are held directly by Yunshang Management Company Limited. |
| (6) | 100% of the equity interests in these companies are held directly by Shenzhen Hillstar Management Consulting Co., Ltd. |
| (7) | 90% of the equity interests in this company are held directly by Glyken Bird Nest Technology (Shenzhen) Co., Ltd. |
| (8) | 100% of the equity interests in these companies are held directly by Glyken Bird Nest Technology (Shenzhen) Co., Ltd. |
| (9) | 40% of the equity interests in this company are held directly by Glyken Bird Nest Technology (Shenzhen) Co., Ltd. |
| (10) | 100% of the equity interests in this company are held directly by Real Prospect Limited. |
| (11) | 100% of the equity interests in this company are held directly by Shenzhen Guibao Intelligent Management Co., Ltd. |
| (12) | 49% of the equity interests in this company are held directly by Qingdao Huiju Lai Xi Intelligent Technology Co., Ltd. |
| (13) | 100% of the equity interests in these companies are held directly by AIFU Inc. |
| (14) | 100% of the equity interests in this company are held directly by CISG holdings Ltd. |
| (15) | 100% of the equity interests in this company are held directly by Minkfair Insurance Management Limited. |
| (16) | 100% of the equity interests in these companies are held directly by CNinsure Holdings Ltd. |
| (17) | AIFU Inc. beneficially owns 100% equity interests in this Company, of which 7.2%, 10.8% and 82% of the equity interests in this company are held by Fanhua Zhonglian Enterprise Image Planning (Shenzhen) Co., Ltd., Fanhua Xinlian Information Technology Consulting (Shenzhen) Co., Ltd and Tibet Zhuli Investment Co. Ltd., respectively. |
| (18) | 100% of the equity interests in these companies are held directly by Fanhua Insurance Sales Service Group Company Limited. |
| (19) | 100% of the equity interests in these companies are held directly by Fanhua Xinlian Information Technology Consulting (Shenzhen) Co., Ltd. |
| (20) | AIFU Inc. beneficially owns 100% equity interests in this company, of which 39.14%, 40.86% and 20% of the equity interests in this company are held by Fanhua Zhonglian Enterprise Image Planning (Shenzhen) Co., Ltd., Fanhua Xinlian Information Technology Consulting (Shenzhen) Co., Ltd. and Fanhua Insurance Sales Group Company Limited, respectively. |
| (21) | 57.73% of the equity interests in this company are held directly by Fanhua Insurance Sales Service Group Co. Ltd. |
| (22) | 100% of the equity interests in these companies are held directly by Zhongrong Smart Finance Information Technology Co. Ltd. |
| (23) | 100% of the equity interests in this company are held directly by Hainan Yueshi Investment Co., Ltd. |
| (24) | 100% of the equity interests in these companies are held directly by Fanhua Zhonglian Enterprise Image Planning (Shenzhen) Co., Ltd. |
| (25) | 100% of the equity interests in this company are held directly by Hainan Shangqing Investment Co., Ltd. |
| (26) | AIFU Inc. beneficially owns 100% of the equity interests in this company, of which 99% of the equity interests in this company are held directly by Fanhua Insurance Sales Service Group Company Limited., Ltd. and the remaining 1% by Fanhua Xinlian Information Technology Consulting (Shenzhen) Co., Ltd. |
| (27) | 100% of the equity interests in each of these companies are held directly by Fanhua Lianxing Insurance Sales Co., Ltd. |
| (28) | 77% of the equity interests in this company are held directly by Fanhua Lianxing Insurance Sales Co., Ltd. |
| (29) | 51% of the equity interests in this company are held directly by Ying Si Kang Information Technology (Shenzhen) Co., Ltd. |
| (30) | 100% of the equity interests in these companies are held directly by Tibet Zhuli Investment Co., Ltd. |
| (31) | 100% of the equity interests in the company are held directly by Fanhua Puyi Family Office (Beijing) Co., Ltd. |