Huize(US:HUIZ)2025-09-12 13:12Financial Performance - Operating revenue reached RMB397 million, a 40.2% increase year-over-year, marking a three-year high[4] - Total operating revenue for the three months ended June 30, 2025, was RMB 396,746, representing a 40.1% increase from RMB 282,951 in the same period of 2024[29] - GAAP net profit attributable to common shareholders was RMB10.9 million, compared to a net loss of RMB23.3 million in the same period of 2024[12] - Net profit attributable to common shareholders for the three months ended June 30, 2025, was RMB 10,876, compared to a net loss of RMB 23,349 in the same period of 2024[31] - Operating profit for the three months ended June 30, 2025, was RMB 14,302, a significant recovery from an operating loss of RMB 25,996 in the same period of 2024[29] - Comprehensive loss attributable to Huize Holding Limited for the three months ended June 30, 2025, was RMB 9,853, a significant improvement from a comprehensive loss of RMB 25,972 in the same period of 2024[31] Client and Market Growth - The cumulative number of insurance clients served increased to 11.4 million as of June 30, 2025, with partnerships established with 146 insurer partners[5] - Gross written premiums (GWP) rose 34.4% year-over-year to RMB1,796 million, while first-year premiums (FYP) surged 73.1% to RMB1,128 million[4][5] - The average age of customers purchasing long-term insurance products was 35.2 years, with 65.4% residing in higher-tier cities[4] Cost Management - The expense-to-income ratio improved significantly by 16.6 percentage points year-over-year, reaching 23.9% in Q2 2025[4] - Operating costs increased by 48.1% year-over-year to RMB287.8 million, primarily due to higher channel expenses[8] - Research and development expenses for the three months ended June 30, 2025, were RMB 15,970, down from RMB 18,099 in the same period of 2024, indicating a 11.7% reduction[29] Assets and Liabilities - Total current assets as of June 30, 2025, were RMB 635,796, a decrease of 4.2% from RMB 599,009 as of December 31, 2024[27] - Total liabilities as of June 30, 2025, were RMB 472,741, reflecting an increase of 3.9% from RMB 454,954 as of December 31, 2024[27] - Total non-current assets as of June 30, 2025, were RMB 266,375, an increase of 7.0% from RMB 285,189 as of December 31, 2024[27] Cash Position - Cash and cash equivalents amounted to RMB238.5 million (US$33.3 million) as of June 30, 2025, up from RMB233.2 million at the end of 2024[13] - Cash and cash equivalents as of June 30, 2025, were RMB 238,500, a slight decrease from RMB 233,207 as of December 31, 2024[27] Strategic Initiatives - AI strategy focuses on enhancing organizational efficiency, driving operational processes, and exploring business model transformation[4] - New products launched include the 'Bliss (Golden Edition)' annuity and 'Xiao Shen Tong 7.0' children's accident insurance, addressing diverse client needs[4]