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暖哇科技:拟赴港ipo 为中国保险业最大的独立AI科技公司
Sou Hu Cai Jing· 2025-09-18 10:40
本次募集资金将主要投向四个方面,其中30%将分配至通过加强研发及技术基础设施提高营运效率及分析能力;30%用于扩大公司地理覆盖范围、多元化保 险范围及提升产品供应;30%用于对保险科技相关业务的潜在策略性投资;10%用于营运资金及其他一般企业用途。 2024年度,公司实现营业收入9.44亿元,同比增长44.16%;归母净利润亏损1.86亿元,上年同期亏损2.44亿元;经营活动产生的现金流量净额为703.9万元, 同比增长51.64%;据申请书显示,暖哇洞察基本每股收益为-1.69元。 申请书显示,根据弗若斯特沙利文报告,以2024年处理的保险案件数量计,暖哇科技是中国保险业最大的独立AI科技公司,以2024年收入计,为中国健康 险行业具备全栈风险分析能力的最大的AI科技公司。 2025年1月1日至2025年6月30日,公司实现营业收入4.31亿元,同比增长1.01%;归母净利润亏损1.02亿元,上年同期亏损1.62亿元;经营活动产生的现金流 量净额为-780.8万元,上年同期为-5615.9万元;据申请书显示,暖哇洞察基本每股收益为-0.92元。 2024年,公司经营活动现金流净额为703.9万元,同比增长5 ...
暖哇科技冲刺港股IPO,众安在线既是大股东又是大客户:AI能否改写健康险格局?
Xin Lang Cai Jing· 2025-09-18 08:27
Core Viewpoint - The leading domestic insurance AI technology company, Warmwa Technology, has submitted its IPO application to the Hong Kong Stock Exchange, aiming to leverage its position in the insurance industry and expand its market presence through strategic partnerships and innovative product offerings [1][3]. Company Overview - Warmwa Technology is recognized as the largest independent AI technology company in China's insurance sector and the health insurance industry, with a focus on risk analysis capabilities [1][2]. - The company was founded in 2018 and has received significant investment from major stakeholders, including ZhongAn Online and Sequoia Capital China [1][2]. Financial Performance - Warmwa Technology's revenue for the years 2022, 2023, 2024, and the first half of 2025 is approximately RMB 345 million, RMB 655 million, RMB 944 million, and RMB 431 million, respectively, reflecting a compound annual growth rate of 65.5% [2]. - The gross profit for the same periods is RMB 199 million, RMB 382 million, RMB 470 million, and RMB 220 million, with losses recorded at RMB 223 million, RMB 240 million, RMB 155 million, and RMB 99.87 million [2]. Client Relationships - ZhongAn Online is not only a major shareholder but also the largest client of Warmwa Technology, with revenue from ZhongAn decreasing from 78.7% in 2022 to 45.2% in 2024, indicating a move towards diversifying the client base [2][3]. Strategic Plans - The company plans to allocate approximately 30% of the IPO proceeds to enhance R&D and technology infrastructure, another 30% to expand business coverage and product offerings, and 30% for strategic investments in insurance technology-related businesses [3]. Service Offerings - Warmwa Technology's core revenue model is based on providing technology service fees for underwriting and claims processes, rather than traditional commission-based income [4]. - The company utilizes its core systems, "Alamos" and "Roborock," to automate the underwriting process and enhance claims management efficiency [4][6]. Market Position and Growth Potential - The health insurance market in China is projected to reach RMB 1.7 trillion by 2029, with a compound annual growth rate of 11.6% from 2024 to 2029, indicating a growing demand for precise risk management solutions [9]. - Warmwa Technology's AI solutions have been adopted by over 90 insurance companies, including eight of the top ten by premium income, showcasing its significant market penetration [8]. Challenges and Considerations - The company faces challenges related to data quality and privacy, which are critical for the accuracy of AI algorithms in underwriting and claims processes [11][12].
以AI技术重塑保险业数字化生态 暖哇科技拟赴港上市
Xin Lang Cai Jing· 2025-09-18 03:20
来源:市场资讯 暖哇科技成立于2018年,经过七年的行业深耕,已从最初的探索者成长为保险AI科技头部企业,助力 保险业高质量发展。 在保险行业数字化转型加速的背景下,这家由众安在线与红杉中国联合孵化的科技企业,凭借其在保险 AI领域的深耕与突破,正成为资本市场关注的焦点。业内人士注意到,成立七年来,暖哇科技在保险 AI科技赛道完成了深厚积累,正以AI技术重塑保险业数字化生态,不断推动着保险行业向数字化、智 能化新阶段迈进。 保险业数字化转型迫切,AI科技成破局关键 近年来,中国保险行业正经历着前所未有的数字化转型浪潮。 国联民生证券研报显示,2019年至2022年,我国保险行业的金融科技投入由276.4亿元增长至451.3亿 元,年复合增速达17.8%,反映出行业对科技赋能的迫切需求。这一趋势背后,是传统保险业务模式面 临的诸多挑战:承保流程繁琐导致客户转化率低,理赔审核效率低下影响用户体验,风险评估精准度不 足推高赔付成本等。 而与保险业旺盛转型需求对应的,是AI科技在业内的持续落地应用。弗若斯特沙利文研究指出,在保 险行业内,AI正逐步从边缘工具转变为核心业务的推动引擎;AI无缝集成于包括营销、承保、理赔 ...
保险AI科技公司暖哇递表港交所 3年半累计亏损约7.18亿元
Mei Ri Jing Ji Xin Wen· 2025-09-17 13:30
Core Viewpoint - Nuanwa Insight Technology Co., Ltd. has submitted its IPO application to the Hong Kong Stock Exchange, aiming to raise funds primarily for R&D, geographic expansion, strategic investments, and operational costs [1] Group 1: Business Overview - Nuanwa is recognized as the largest independent AI technology company in China's insurance industry, with its solutions adopted by 90 insurance companies, including 8 of the top 10 by premium income [2] - The company has executed over 204.3 million underwriting reviews and claims investigations, serving more than 41 million clients [2] - Nuanwa offers two main solutions: AI underwriting and AI claims solutions, and has launched 14 insurance products in collaboration with 7 major insurance companies [2] Group 2: Financial Performance - Revenue from AI underwriting solutions has increased significantly, accounting for 62.5% to 77.6% of total revenue during the reporting period [3] - The company reported revenues of 345 million, 655 million, 944 million, and 431 million yuan over the reporting period, with cumulative losses amounting to approximately 718 million yuan [4] - Customer concentration remains high, with revenue from the top five clients accounting for 92.3% to 73.6% of total revenue during the reporting period [4] Group 3: Client Relationships - Nuanwa's largest single client is ZhongAn Online, which is also a shareholder and supplier, indicating a deep business interconnection [4][5] - The company has paid ZhongAn for various services, with transaction amounts decreasing over the reporting period [5] Group 4: Financial Health - Nuanwa's current assets and liabilities indicate increasing short-term debt pressure, with current liabilities rising from 9.42 billion to 16.96 billion yuan during the reporting period [6] - The company was co-founded by Lu Min and ZhongAn Online in October 2018, with Lu Min serving as the CEO [6]
知名AI科技公司冲刺IPO:拟将募集资金的约30%用于加强研发及技术基础设施!公司3年半亏了超7亿元
Mei Ri Jing Ji Xin Wen· 2025-09-17 10:36
Core Viewpoint - Nuanwa Insight Technology Co., Ltd. has submitted its IPO application to the Hong Kong Stock Exchange, aiming to raise funds primarily for R&D, geographic expansion, strategic investments, and operational costs [1][6]. Group 1: Financial Performance - Nuanwa's revenue for the reporting period (2022-2025) was primarily derived from AI underwriting solutions, with revenue shares of 62.5%, 70.6%, 77.6%, and 74.5% respectively [3]. - The company reported revenues of 345 million, 655 million, 944 million, and 431 million RMB during the same period, with cumulative losses amounting to approximately 718 million RMB [6]. - Customer concentration remains high, with revenues from the top five clients accounting for 92.3%, 82.9%, 78.9%, and 73.6% of total revenue during the reporting period [6]. Group 2: Client Base and Solutions - As of December 31, 2024, Nuanwa's solutions have been adopted by 90 insurance companies, including 8 of the top 10 insurance companies in China by premium income [2]. - The number of clients increased from 62 to 163 over the reporting period, indicating a growth trend [4]. - Nuanwa offers two main solutions: AI underwriting solutions and AI claims solutions, with a focus on innovative insurance products for patients with pre-existing conditions [2]. Group 3: Strategic Partnerships - ZhongAn Online is both the largest single client and a supplier for Nuanwa, highlighting a deep business integration between the two companies [6][7]. - Nuanwa has engaged in multiple transactions with ZhongAn Online for services, citing cost-effectiveness as a reason for choosing this related party as a supplier [7]. - The company was co-founded by Lu Min and ZhongAn Online, with Lu Min having over 20 years of experience in the insurance technology sector [8].
暖哇科技报考港股上市:连续实现盈利,保险科技加速突围
Sou Hu Cai Jing· 2025-09-17 09:37
Core Viewpoint - Warmwa Technology Co., Ltd. has submitted its prospectus for an IPO on the Hong Kong Stock Exchange, backed by ZhongAn Online [1][3] Company Overview - Warmwa Technology was established in October 2018 in Shanghai, co-founded by Lu Min and ZhongAn Online, with ZhongAn holding approximately 31.65% of the shares and Lu Min holding about 28.76% [1][3] - Lu Min serves as the Executive Director, Chairman, and CEO of Warmwa Technology, while Cai Jianwei is the Executive Director and Co-CEO [3] Shareholding Structure - The initial registered capital of Warmwa Technology was 1 million RMB, with shareholders including Shanghai Longhao and ZhongAn Information Technology [4][5] - Warmwa Technology has undergone multiple rounds of financing, with notable investors including Sequoia Capital [5][6] Financial Performance - Revenue figures for Warmwa Technology are as follows: approximately 345 million RMB in 2022, 655 million RMB in 2023, 944 million RMB in 2024, and an estimated 431 million RMB in the first half of 2025 [9][10] - The company reported net losses of approximately 223 million RMB in 2022, 240 million RMB in 2023, and 155 million RMB in 2024, with an adjusted net profit of 57.5 million RMB in 2024 [10][11] Market Position and Growth Potential - Warmwa Technology is recognized as the largest independent AI technology company in China's insurance industry by the number of insurance cases processed in 2024 [8][9] - The total addressable market for AI technology in the Chinese insurance sector is projected to reach 746.8 billion RMB in 2024, growing to 1.3538 trillion RMB by 2029, with a compound annual growth rate of 12.6% from 2024 to 2029 [11][12]
帮险企用AI卖保险,冲刺港股上市的暖哇科技成色几何
Jing Ji Guan Cha Wang· 2025-09-17 07:59
Core Viewpoint - Warmwa Technology, an AI insurance technology company, has submitted its listing application to the Hong Kong Stock Exchange, with JPMorgan and HSBC as joint sponsors [1] Group 1: Company Overview - Warmwa Technology was established in 2018 and operates primarily in two segments: AI underwriting and AI claims [1] - The company holds an insurance intermediary license and conducts insurance sales through Aibang Insurance Brokerage [1] - ZhongAn Online, a listed company in Hong Kong, is both the largest shareholder and the primary customer of Warmwa Technology [1][6] Group 2: Business Model and Revenue - Unlike other insurance technology companies that rely on intermediary fees, Warmwa Technology generates revenue by providing AI solutions for underwriting and claims management [2] - The company utilizes its core systems, "Alamos" and "Lop Nur," to offer intelligent underwriting and claims services, mainly in commercial health insurance [2] - As of June 30, 2025, Warmwa Technology has facilitated a total of 10.7 billion yuan in first-year premiums [2] Group 3: Financial Performance - In the first half of 2025, Warmwa Technology's revenue from AI underwriting solutions was 321 million yuan, accounting for 74.5% of total revenue, while AI claims solutions contributed 110 million yuan, or 25.5% [3] - The company's revenue for the years 2022, 2023, 2024, and the first half of 2025 was 345 million yuan, 655 million yuan, 944 million yuan, and 431 million yuan, respectively, with gross margins around 50% [4] - Despite a compound annual growth rate of 65% in revenue over the past three years, the company remains in a loss position, with net losses of 223 million yuan, 240 million yuan, 155 million yuan, and 100 million yuan for the same periods [5] Group 4: Key Partnerships - ZhongAn Online has been a significant customer for Warmwa Technology, contributing substantially to its revenue growth [7] - Revenue from ZhongAn Online for the years 2022 to the first half of 2025 was 270 million yuan, 400 million yuan, 427 million yuan, and 214 million yuan, representing 78.7%, 61.8%, 45.2%, and 49.6% of total revenue, respectively [7] Group 5: Investment and Shareholding - Warmwa Technology has completed four rounds of financing since its inception, with notable investors including Sequoia Capital China and Longhu Capital [8] - As of now, ZhongAn Online holds 31.65% of Warmwa Technology's shares, making it the largest shareholder, while the CEO holds 28.76% [8]
保险业AI科技公司暖哇科技赴港IPO,众安在线是其大股东
Huan Qiu Lao Hu Cai Jing· 2025-09-17 03:56
Group 1 - The core viewpoint of the news is that Nuanwa Technology, a domestic AI technology company focused on insurance, has officially submitted its listing application to the Hong Kong Stock Exchange, with JPMorgan and HSBC as joint sponsors [1] - Nuanwa Technology provides AI-based underwriting and claims solutions to insurance companies, aiming to improve front-end processes such as product design, user analysis, user operations, and underwriting risk assessment [1] - The funds raised from the IPO will primarily be used to enhance research and development, improve operational efficiency and analytical capabilities, expand geographical coverage, diversify insurance business categories, and optimize product offerings [1] Group 2 - According to a Frost & Sullivan report, Nuanwa Technology is the largest independent AI technology company in China's insurance industry based on the number of insurance cases processed in 2024, and it is the largest AI technology company with full-stack risk analysis capabilities in the health insurance sector [2] - As of the end of 2024, Nuanwa Technology's solutions have been adopted by 90 insurance companies, facilitating approximately 10.7 billion yuan in first-year premium payments and completing around 204 million underwriting reviews and claims investigations by June 2025 [2] - Nuanwa Technology's financial performance shows a gradual improvement in its loss situation, with revenues of 340 million yuan, 650 million yuan, and 940 million yuan from 2022 to 2024, reflecting a compound annual growth rate of 65.5%, while net losses were 223 million yuan, 240 million yuan, and 155 million yuan respectively [2]
暖哇科技拟赴港上市 连续三年营收复合增长率65.5%
2 1 Shi Ji Jing Ji Bao Dao· 2025-09-17 03:50
Core Viewpoint - Nuanwa Technology, a leading AI technology company in the domestic insurance sector, has officially submitted its listing application to the Hong Kong Stock Exchange, aiming to capitalize on the accelerating digital transformation in the insurance industry [1] Company Overview - Nuanwa Technology's major shareholders include ZhongAn Online and Sequoia China, with JPMorgan and HSBC serving as joint sponsors for the listing [1] - As of December 31, 2024, Nuanwa Technology's solutions have been adopted by 90 insurance companies, covering eight of the top ten insurers in China [1] Financial Performance - Nuanwa Technology has shown rapid growth, achieving profitability starting in 2023, with revenues of RMB 340 million, RMB 650 million, and RMB 940 million for the years 2022, 2023, and 2024 respectively, reflecting a compound annual growth rate (CAGR) of 65.5% [2] - The gross margin for 2024 reached 49.8%, with an adjusted net profit of approximately RMB 57.5 million, resulting in an adjusted net profit margin of 6.1% [2] Technological Capabilities - Nuanwa Technology has developed proprietary technologies that integrate data analysis capabilities, multi-agent systems, and cloud infrastructure, focusing on various scenarios within the insurance industry [2] - The company has created industry-specific multi-agent systems, Alamos and Roborock, which optimize the entire process from underwriting to claims settlement [2] AI Solutions - The AI underwriting solution, centered around the Alamos system, automates the entire underwriting process, achieving a policy renewal rate of 97.5% and a cross-selling rate of 63.0%, significantly higher than the industry average of 15.0% to 25.0% [3] - Nuanwa Technology has intercepted over one million high-risk applicants, reducing the claim payout ratio by 10 to 23 percentage points [3] Claims Management - The AI claims solution utilizes a nationwide medical data network and the Roborock decision model to enhance efficiency and accuracy in claims management [4] - The AI claims solution has achieved an automatic review rate of up to 80%, with a decision accuracy rate of 98.0% for fully automated claims reviews [4] Market Outlook - Analysts suggest that as the Chinese insurance market continues to expand and companies increase their investments in intelligence, Nuanwa Technology's first-mover advantage in the insurance AI technology sector is likely to translate into increased market share and elevate the industry's digitalization level [4]
暖哇科技递表港交所 拟冲刺独立上市
Huan Qiu Wang· 2025-09-17 02:39
Group 1 - The core point of the article is that Warmwa Technology has officially submitted its listing application to the Hong Kong Stock Exchange, with Morgan Stanley and HSBC as joint sponsors [1] - According to a Frost & Sullivan report, Warmwa Technology is one of the largest independent AI technology companies in China's insurance industry based on the number of insurance cases processed in 2024 [3] - The company was founded in October 2018 and focuses on AI solutions for the entire lifecycle of insurance transactions, including AI underwriting and claims solutions [3] Group 2 - As of the end of 2024, Warmwa Technology's solutions have been adopted by over 90 insurance companies, and by the first half of 2025, the company has executed over 200 million underwriting reviews and claims investigations [3] - The company has experienced a narrowing trend in losses, with revenues of 340 million yuan, 650 million yuan, and 940 million yuan from 2022 to 2024, representing a compound annual growth rate of 65.5% [4] - The adjusted net profit for 2024 is approximately 58 million yuan, with an adjusted net profit margin of 6.1%, while the revenue for the first half of 2025 is 431 million yuan with a net loss of 100 million yuan [4]