Core Insights - Huize Holding Limited reported record high gross written premiums (GWP) of RMB2,060.7 million (approximately US$293.6 million) for Q3 2024, a 65.5% increase from RMB1,245.1 million in Q3 2023 [1] - First year premiums (FYP) more than doubled year-over-year to RMB1,354.4 million, driven by strong demand for long-term savings products [1] - The company achieved a net profit of RMB18.7 million (US$2.7 million) for Q3 2024, compared to RMB20.2 million in the same period of 2023 [5] Financial Performance - GWP for Q3 2024 reached RMB2,060.7 million, with FYP accounting for RMB1,354.4 million (65.7% of total GWP), marking a 110.1% year-over-year increase [1] - Operating revenue was RMB369.7 million (US$52.7 million) in Q3 2024, up 26.4% from RMB292.4 million in Q3 2023 [2] - Operating costs increased to RMB267.0 million (US$38.0 million), a 41.0% rise from RMB189.3 million in Q3 2023, primarily due to higher channel expenses [3] Operational Highlights - The company served a cumulative total of 10.1 million insurance clients as of September 30, 2024, and partnered with 123 insurers [1] - Revenue contribution from international businesses rose to 19% in Q3 2024, an increase of 8 percentage points sequentially, largely due to growth in the Hong Kong market [1] - The average FYP ticket size for savings products was approximately RMB79,000, with persistency ratios for long-term life and health insurance products exceeding 95% [1] Strategic Initiatives - Huize plans to expand into two additional Southeast Asian markets, Singapore and the Philippines, within the next 12 months, aiming for international revenue contributions to reach 30% by 2026 [1] - The company is focused on leveraging AI and data analytics to enhance its insurance service chain and improve operational efficiency, achieving an expense-to-revenue ratio of 24% [1][4]

Core Viewpoint - Huize Holding Limited, a leading insurance technology platform in Asia, is set to release its third quarter 2024 unaudited financial results on December 10, 2024, before the U.S. market opens [1] Group 1: Earnings Conference Call - The management team will conduct an earnings conference call at 7:00 A.M. Eastern Time on December 10, 2024 [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 [4] - The company targets mass affluent consumers and offers a comprehensive insurance ecosystem covering the entire insurance life cycle [4] - Huize leverages AI, data analytics, and digital capabilities to enhance the insurance service chain, providing solutions for consultation, user engagement, marketing, risk management, and claims service [4]

Core Viewpoint - Huize Holding Limited will change the ratio of its American depositary shares (ADSs) to its Class A ordinary shares from 1:20 to 1:100, effectively implementing a one-for-five reverse ADS split [1][2]. Group 1: ADS Ratio Change - The new ADS Ratio will be effective on or about December 9, 2024, subject to the SEC's approval of the post-effective amendment to the ADS Registration Statement [2]. - Each ADS holder will need to surrender five existing ADSs to receive one new ADS, with automatic exchanges for holders in The Depository Trust Company and the Direct Registration System [3]. - No fractional new ADSs will be issued; instead, fractional entitlements will be aggregated and sold, with net cash proceeds distributed to ADS holders [3]. Group 2: 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 covering the entire insurance life cycle, providing a wide range of products and services [4]. - Huize leverages AI and data analytics to enhance the insurance service chain, focusing on consultation, user engagement, marketing, risk management, and claims service [4].

Core Insights - Huize Holding Limited's long-term medical insurance product "Chang Xiang An No.2" has won the "Annual Popular Commercial Health Insurance Product" award from Today Insurance, highlighting its recognition in the market [1][3]. Product Overview - "Chang Xiang An No.2" is developed in collaboration with Ping An Health Insurance and offers comprehensive healthcare services, including: - Extensive inpatient medical coverage with a maximum claim of up to RMB8 million and guaranteed renewability for 20 years [2]. - Specialized rehabilitation coverage for nine specific conditions, with annual coverage of up to RMB20,000 [2]. - Streamlined application processes with an eligibility age of up to 70 years and family discounts of up to 15% [2]. - A diminishing deductible benefit that reduces by RMB1,000 annually for claim-free years, down to a minimum of RMB5,000 [2]. - Enhanced value-added services, including hospitalization assistance and unique first-year complimentary services [2]. Company Commitment - The company emphasizes the importance of reliable product upgrades that meet customer needs, seamless claims processing, and a human-centric design [3]. - Recent regulatory adjustments in the insurance sector are seen as a pathway for sustainable growth by integrating insurance with health and wellness services [3]. - The award received is viewed as a testament to the company's innovative capabilities and high standards in the insurance market [3]. Company Profile - 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 spectrum of insurance products and services, covering the entire insurance life cycle [4]. - By leveraging AI and data analytics, Huize enhances the insurance service chain with technology-enabled solutions for various aspects of insurance [4].

Core Viewpoint - Huize Holding Limited will hold its annual general meeting on November 29, 2024, in Hong Kong, serving as a forum for shareholders to discuss company affairs with management, with no proposals for shareholder approval [1][2]. Company Information - 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 aims to meet their lifelong insurance needs through an integrated online-to-offline insurance ecosystem [4]. - Huize's services cover the entire insurance life cycle, offering a wide range of products, one-stop services, and a streamlined transaction experience [4]. - The company utilizes AI, data analytics, and digital capabilities to enhance the insurance service chain, providing technology-enabled solutions for consultation, user engagement, marketing, risk management, and claims service [4]. Meeting Details - The record date for the annual general meeting is set for November 4, 2024, entitling holders of common shares to notice of the meeting [3]. - The notice of the annual general meeting is available on the company's Investor Relations website [3].

Huize Holding Limited (NASDAQ:HUIZ) Q2 2024 Earnings Conference Call September 25, 2024 8:00 AM ET Company Participants Kenny Lo - Investor Relations Manager Cunjun Ma - Founder & Chief Executive Officer Ron Tam - Co-Chief Financial Officer Conference Call Participants Michelle Ma - Citi Operator Ladies and gentlemen, thank you for standing by. Welcome to Huize Second Quarter 2024 Earnings Conference Call. At this time, all participants are in listen-only mode. After the management's prepared remarks, we wi ...

Core Viewpoint - Huize Holding Limited reported its unaudited financial results for the second quarter of 2024, showcasing resilience in business performance despite a challenging economic environment, with a focus on strategic growth and international expansion [1]. Financial and Operational Highlights - Gross written premiums (GWP) for Q2 2024 were RMB1,336.9 million, a slight decrease of 3.0% from RMB1,377.7 million in Q2 2023. Renewal premiums increased by 42.8% year-over-year to RMB685.4 million [2][4]. - The gross profit margin improved to 31.3%, up by 2.3 percentage points sequentially, attributed to disciplined control over channel expenses and product mix optimization [2]. - The cumulative number of insurance clients served reached 9.8 million, with partnerships established with 125 insurers [3]. Revenue and Profitability - Operating revenue for Q2 2024 was RMB283.0 million, down 23.2% from RMB368.2 million in Q2 2023, primarily due to a decrease in first-year premiums (FYP) [4]. - The net loss for Q2 2024 was RMB23.3 million, compared to a net profit of RMB14.1 million in the same period of 2023. Non-GAAP net loss was RMB13.0 million, down from a non-GAAP net profit of RMB19.0 million [8][22]. Cost Management - Operating costs decreased by 20.2% to RMB194.4 million in Q2 2024, primarily due to reduced channel expenses [5]. - Selling expenses were RMB46.8 million, down 18.3% from RMB57.3 million in Q2 2023, while general and administrative expenses increased by 33.9% to RMB49.7 million [6][7]. Strategic Initiatives - The company maintained a long-term insurance product GWP contribution above 90% for the nineteenth consecutive quarter, indicating a commitment to sustainable growth [3]. - Revenue contribution from international business rose to 11% in Q2 2024, supported by the acquisition of a controlling stake in Global Care, a Vietnam-based Insurtech company [3]. Cash Position - As of June 30, 2024, cash and cash equivalents were RMB236.2 million, a decrease from RMB249.3 million at the end of 2023 [9].

SHENZHEN, China, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ: HUIZ), a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia, today announced that it has partnered with New China Life Insurance Company Limited (“NCI”) to launch “Bliss No.2”, a customized lifetime annuity product. This upgraded product is the latest addition to the “Bliss” se ...

SHENZHEN, China, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ: HUIZ), a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia, today announced that it plans to release its second quarter 2024 unaudited financial results before the U.S. market opens on Wednesday, September 25, 2024. The Company’s management team will hold an earnings conferenc ...

SHENZHEN, China, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Huize Holding Limited, (“Huize” or the “Company”) (NASDAQ: HUIZ), a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia, today announced the completion of its international arm Poni Insurtech’s acquisition of 71.7% stake in Global Care Consulting Joint Stock Company (“Global Care”), a leading Vietnam-based insurtech company specializing in di ...