Financial Data and Key Metrics Changes - In 2024, total revenue increased by 4.5% year-over-year to RMB 1.25 billion, achieving record highs in both gross written premiums (GWP) and first-year premiums (FYP) facilitated across platforms [8][30] - GWP amounted to RMB 6.16 billion, up by 6% year-over-year, while full-year FYP reached RMB 3.42 billion, up by 31% year-over-year [9][30] - The average ticket size for savings products surged by 39% year-over-year to approximately RMB 75,000 [12][34] Business Line Data and Key Metrics Changes - Whole-life premiums contributed RMB 1.84 billion, surging by 76% year-over-year, while long-term health insurance contributed RMB 520 million, up 2% year-over-year [10] - Short-term insurance business recorded robust double-digit growth, with premiums up 23% year-over-year to approximately RMB 515 million [10] - The cumulative number of insurance users increased to 10.6 million, with 380,000 new users added during the quarter [11] Market Data and Key Metrics Changes - The international business segment achieved total revenue of RMB 228.7 million in 2024, with international revenue contribution reaching 18% for the year [35] - In Vietnam, GWP increased by 29% sequentially, and revenue grew by 33% sequentially following the acquisition of Global Care [35] Company Strategy and Development Direction - The company is focusing on a forward-looking AI plus strategy, transitioning from intelligent tools to a comprehensive restructuring of its service ecosystem [7] - The strategic expansion into international markets, particularly Southeast Asia, is a key growth driver, with plans to achieve a 30% international business revenue contribution by 2026 [22][39] - The company aims to enhance service efficiency and user experience through AI technologies, including the integration of DeepSeek into its app [22][38] Management's Comments on Operating Environment and Future Outlook - Management noted that the insurance industry is entering a "new normal" following the implementation of commission caps, which is expected to consolidate market share among top-tier players [44][47] - The outlook for 2025 includes a profitable year with a mid-single-digit net profit margin, driven by continued business momentum and international revenue growth [66] Other Important Information - The company has maintained strong partnerships with 139 insurance companies, continuing to develop customized products across diverse insurance categories [12] - The AI-powered app launched in February 2025 has shown promising results, with an activation rate exceeding 40% for new users [24] Q&A Session Summary Question: Impact of commission caps regulation and AI technology - Management confirmed that the impact of commission caps has been fully reflected in Q4 results, and the competitive landscape is expected to become healthier with market share consolidating among top players [44][47] - AI technology is expected to enhance operational efficiency, allowing for scalable growth without significant increases in human resources [51][52] Question: Operating expenses and gross profit margin guidance - The increase in operating expenses in Q4 was attributed to restructuring and AI investments, with expectations for a decrease in operating expense ratios in 2025 [61][62] - Gross margin is projected to maintain a low to mid-30% range in 2025, with potential improvements driven by AI investments [64][66]

Core Viewpoint - Huize Holding Limited reported resilient business results for 2024, achieving record highs in gross written premiums (GWP) and first-year premiums (FYP), while maintaining non-GAAP profitability for the second consecutive year [3][10][18]. Financial and Operational Highlights - For the full year 2024, GWP reached RMB 6.2 billion (US$ 843.7 million), a 6.2% increase from RMB 5.8 billion in 2023. FYP also hit a record high of RMB 3.4 billion, up 30.5% year-over-year [10][13]. - The average FYP ticket size for savings products increased by 39.1% year-over-year to over RMB 75,000, indicating strong demand [4]. - The company served over 10.6 million insurance clients and partnered with 139 insurers, including 80 life and health insurance companies and 59 property and casualty insurers [10]. International Expansion - Revenue from international operations accounted for 18% of total revenue in 2024, with plans to increase this to 30% by 2026. The company is making progress in entering new markets such as Singapore and the Philippines [5][10]. - The acquisition of Global Care, a Vietnam-based insurtech company, has been a significant contributor to the growth of the international arm, Poni Insurtech [5]. Technology Integration - The integration of proprietary AI solutions, such as DeepSeek into the Huize App, has enhanced customer experience by providing real-time, personalized recommendations [6]. Fourth Quarter 2024 Financial Results - In Q4 2024, GWP facilitated was RMB 1,043.0 million (US$ 142.9 million), a decrease of 16.2% from RMB 1,245.3 million in Q4 2023. FYP accounted for RMB 557.9 million, a 33.3% increase year-over-year [6][12]. - Operating revenue for Q4 2024 was RMB 286.0 million (US$ 39.2 million), up 21.2% from RMB 236.0 million in Q4 2023, driven by increased FYP [7][14]. - Operating costs increased by 37.0% to RMB 186.8 million (US$ 25.6 million) due to higher channel expenses [8]. Profitability Metrics - The net loss attributable to common shareholders in Q4 2024 was RMB 2.9 million (US$ 0.4 million), compared to a net profit of RMB 18.0 million in Q4 2023. Non-GAAP net loss was RMB 1.3 million (US$ 0.2 million) [12][18].

Core Viewpoint - Huize Holding Limited, a leading insurance technology platform in Asia, is set to release its fourth quarter and full year 2024 unaudited financial results on March 24, 2025, before the U.S. market opens [1]. Group 1: Earnings Conference Call - The management team will conduct an earnings conference call at 8:00 A.M. Eastern Time on March 24, 2025, which corresponds to 8:00 P.M. Beijing/Hong Kong Time on the same day [2]. - Participants must register online in advance to receive dial-in numbers and a unique access PIN for the conference call [2]. Group 2: Company Overview - Huize Holding Limited connects consumers, insurance carriers, and distribution partners through data-driven and AI-powered solutions, targeting mass affluent consumers for their lifelong insurance needs [4]. - The company offers a comprehensive online-to-offline integrated insurance ecosystem that covers the entire insurance life cycle, providing a wide range of insurance products and streamlined transaction experiences [4]. - By leveraging AI and data analytics, Huize enhances the insurance service chain with proprietary technology-enabled solutions for various aspects such as consultation, user engagement, marketing, risk management, and claims service [4].

Core Insights - Huize Holding Limited has integrated DeepSeek into its Huize App, becoming the first in the insurance sector to embed an AI model into consumer-facing services, providing real-time, AI-powered insurance consultations and personalized recommendations [1][2][3] Company Overview - Huize is a leading insurance technology platform in Asia, connecting consumers, insurance carriers, and distribution partners through data-driven and AI-powered solutions, targeting mass affluent consumers for their lifelong insurance needs [4][6] - The company offers a comprehensive online-to-offline integrated insurance ecosystem that covers the entire insurance life cycle, providing a wide range of products and streamlined transaction experiences [4] AI Integration and Efficiency - The integration of DeepSeek enhances the Huize App's efficiency by 300% in recommendations, achieving a 91% accuracy rate in product matching, and offers 24/7 instant responses, allowing consumers to create customized virtual advisors [2][3] - The AI-driven system is part of Huize's "AI+" strategy, which includes previous introductions of an AI Marketing Assistant and a large language model for business development [3] International Expansion - Huize's international arm, Poni Insurtech, aims to introduce similar AI technology in Vietnam and expand into other high-growth ASEAN markets such as Indonesia and the Philippines [3][6]

Core Insights - Huize Holding Limited has integrated DeepSeek into its Huize App, becoming the first in the insurance sector to embed an AI model into consumer-facing services, providing real-time, AI-powered insurance consultations and personalized recommendations [1][3] - The system boasts a 300% increase in efficiency for recommendations and a 91% accuracy rate in product matching, offering 24/7 instant responses to users [2] - The updated Huize App aims to bridge the gap between complex insurance products and consumer demand for accessible services, empowering consumers to make informed decisions [3] Company Overview - Huize is a leading insurance technology platform in Asia, connecting consumers, insurance carriers, and distribution partners through data-driven and AI-powered solutions, targeting mass affluent consumers [4] - The company offers a comprehensive online-to-offline integrated insurance ecosystem that covers the entire insurance life cycle, providing a wide range of products and streamlined transaction experiences [4] - Huize's "AI+" strategy includes various AI tools, such as the AI Marketing Assistant and a large language model for business development, enhancing its service offerings [3] International Expansion - Huize's international arm, Poni Insurtech, aims to introduce similar AI technology in Vietnam and expand into other high-growth ASEAN markets like Indonesia and the Philippines [6] - Poni Insurtech focuses on building a pan-Asian digital insurance distribution platform, providing customized insurance solutions and digitalization services for insurers [6]

Core Insights - Huize Holding Limited released its 2024 Customer Service Report and "Xiao Ma Claim" Service Annual Review, highlighting its performance in customer service and claims settlement [1][5] Group 1: Customer Service Performance - Huize served over 1.3 million families with more than 12 million insurance policies facilitated in 2024 [2] - The company achieved a customer satisfaction rate of 98.82% for online customer support and 99.51% for teleservices in 2024 [3] - Huize delivered teleservices 310,000 times, totaling 33,000 consultation hours [3] Group 2: Claims Processing - Huize processed 160,800 insurance claims in 2024, a 74.7% increase compared to 2023 [2] - The total amount of claims settled in 2024 was RMB808 million, a 41.7% increase from the previous year [2] - The "Xiao Ma Express Claim" service handled 85,000 claims in 2024, with a total amount of claims settled reaching RMB39.37 million, reflecting increases of 66.6% and 63.4%, respectively, compared to 2023 [2] Group 3: Key Insights from Reports - Medical insurance represented the highest percentage (60.45%) of settlement claim cases, followed by accident insurance (34.02%) [4] - Critical illness insurance claims accounted for 59.77% of the total claim settlement amount [4] - Huize's customized critical illness series products helped 1,096 families claim RMB276 million, accounting for 57% of the total critical illness claims of RMB483 million [4] - The customer service team assisted over 180,000 senior citizens, with a growing proportion purchasing insurance online [4] Group 4: Company Commitment and Future Outlook - The company remains committed to delivering exceptional customer service and protecting customers amid uncertainty [5] - Huize aims to continue innovating and providing customer-first solutions going forward [5]

Core Viewpoint - Huize Holding Limited has launched "PrimeMed," a customized mid-tier medical insurance product in collaboration with China Continent Property & Casualty Insurance Co., Ltd. and MSH CHINA, aimed at providing flexible and affordable healthcare coverage to consumers in Asia [1][3]. Group 1: Product Features - "PrimeMed" offers premium healthcare services at a competitive price, appealing to consumers looking for an upgrade from traditional million-yuan medical insurance products [2]. - Key features include flexible deductibles with three plan options, children's coverage for those under 18, a relative deductible scheme to offset costs from public health insurance, and affordable premiums starting from RMB 958 for the primary age group [7]. Group 2: Market Context and Strategy - The product addresses the growing public awareness and spending on mid-to-high level medical care services, fulfilling a critical need for comprehensive coverage [3]. - "PrimeMed" extends coverage to areas often not included in basic insurance, such as imported drugs, specialized medical devices, and complex surgeries, aligning with government initiatives for differentiated development in medical insurance [3]. Group 3: Company Overview - Huize Holding Limited is a leading insurance technology platform in Asia, connecting consumers, insurance carriers, and distribution partners through data-driven and AI-powered solutions [4]. - The company targets mass affluent consumers and offers a wide range of insurance products and services, leveraging AI and data analytics to enhance the insurance service chain [4].

Core Viewpoint - Huize Holding Limited has launched "PrimeMed," a customized mid-tier medical insurance product in collaboration with China Continent Property & Casualty Insurance Co., Ltd. and MSH CHINA, aimed at providing flexible and affordable healthcare coverage to consumers in Asia [1][3]. Company Overview - Huize Holding Limited is a leading insurance technology platform that connects consumers, insurance carriers, and distribution partners through data-driven and AI-powered solutions in Asia, targeting mass affluent consumers [4]. - The company offers a comprehensive online-to-offline integrated insurance ecosystem that covers the entire insurance life cycle, providing a wide range of insurance products and services [4]. Product Features - "PrimeMed" includes flexible deductibles with three plan options, allowing for zero or low shared deductibles to enhance accessibility to inpatient services [2][7]. - The product allows for children's coverage, enabling parents to insure children under 18, thus expanding family protection options [7]. - A relative deductible scheme is included, which allows compensation from other sources to offset deductibles, improving benefit accessibility [7]. - Annual premiums for "PrimeMed" start from RMB 958 for the primary age group, with options for additional coverage and family package discounts [7]. Market Context - The launch of "PrimeMed" responds to the growing public awareness and spending on mid-to-high level medical care services, addressing a critical need for comprehensive coverage in the healthcare system [3]. - The product aligns with government initiatives for differentiated development of basic medical insurance and commercial insurance, extending coverage to areas often not covered by basic insurance [3].

Core Viewpoint - Huize Holding Limited has regained compliance with Nasdaq Listing Rule 5450(a)(1) regarding the Minimum Bid Price Requirement, as confirmed by Nasdaq on December 30, 2024 [1][3]. Company Overview - Huize Holding Limited is a leading insurance technology platform in Asia, connecting consumers, insurance carriers, and distribution partners through data-driven and AI-powered solutions [4]. - The company targets mass affluent consumers and offers a comprehensive insurance ecosystem that covers the entire insurance life cycle, providing a wide range of products and services [4]. - Huize leverages AI, data analytics, and digital capabilities to enhance the insurance service chain, focusing on consultation, user engagement, marketing, risk management, and claims service [4]. Compliance Details - The company was previously notified by Nasdaq on September 10, 2024, that it was not in compliance with the Minimum Bid Price Requirement due to its American depositary shares (ADSs) closing below US$1.00 for 30 consecutive business days [2]. - Nasdaq confirmed that the closing bid price of the company's ADSs was at or above US$1.00 for 10 consecutive business days from December 9, 2024, to December 27, 2024, leading to the closure of the compliance matter [3].

Market Performance - The FinTech IPO Index experienced a significant surge of 22.5% over five trading days, now standing more than 68% higher year to date [1][2]. Company Highlights - Huize Holding's stock increased by over 461% following its earnings report, with gross written premiums reaching a record high of RMB2,060.7 million ($293.6 million) in Q3 2024, compared to RMB1,245.1 million in Q3 2023 [3]. - First-year premiums for Huize more than doubled year over year to RMB1,354.4 million in Q3 2024 [3]. - Huize also surpassed the 10 million client milestone, with renewal premiums accounting for over 34% of gross written premiums, reflecting a 17.6% year-over-year increase [4]. - Operating revenues for Huize surged by 26.4% year-over-year to RMB369.7 million [4]. Other Company Developments - Open Lending's stock rose by 6.5% after announcing the certification of its 1 millionth auto loan through its Lenders Protection loan decisioning engine [5]. - BILL shares fell by over 6% as the company introduced a 1099 form filing solution for small to medium-sized businesses [5]. - nCino's stock decreased by nearly 2% after announcing a partnership with Habib Bank Zurich plc to enhance its Buy-to-Let Lending business in the UK [6]. - Robinhood reported a growth in funded customers to 24.8 million, an increase of approximately 420,000 from October, and assets under custody rose to $195 billion, up 22% from October and 106% year-over-year [7]. - MoneyLion shares increased by 0.2% following Gen Digital's agreement to acquire the financial wellness platform for $1 billion [8]. - MoneyLion launched MoneyLion Checkout, a marketplace for consumers to search and apply for various financial products [9]. Stock Performance Overview - The percentage return on stocks since their IPO shows significant variances, with Futu Holdings at 460.6% and other companies like SoFi and Toast experiencing declines of -34.3% and -38.6% respectively [10].