Huize Holding Limited Reports Fourth Quarter and Full Year 2024 Unaudited Financial Results
Huize Holding (NASDAQ: HUIZ) reported its Q4 and full-year 2024 financial results, achieving record-high insurance premiums. The company's Gross Written Premiums (GWP) reached RMB6,158.6 million in 2024, up 6.2% from 2023. First Year Premiums (FYP) hit RMB3,421.0 million, increasing 30.5% year-over-year.
International business revenue grew to RMB228.7 million, contributing 18% of total revenue. The company served 10.6 million insurance clients and partnered with 139 insurers. For Q4 2024, the company reported a net loss of RMB2.9 million, while full-year 2024 showed a minimal net loss of RMB0.6 million.
Notable achievements include a 39.1% increase in average FYP ticket size for savings products to over RMB75,000, and persistency ratios exceeding 95%. The company expanded internationally through the acquisition of Vietnam-based Global Care and plans to enter Singapore and Philippines markets.
Huize Holding (NASDAQ: HUIZ) ha riportato i risultati finanziari del quarto trimestre e dell'intero anno 2024, raggiungendo premi assicurativi record. I Premi Lordi Scritti (GWP) dell'azienda hanno raggiunto RMB6.158,6 milioni nel 2024, con un aumento del 6,2% rispetto al 2023. I Premi del Primo Anno (FYP) hanno toccato RMB3.421,0 milioni, aumentando del 30,5% su base annua.
Il fatturato dell'attività internazionale è cresciuto a RMB228,7 milioni, contribuendo per il 18% al fatturato totale. L'azienda ha servito 10,6 milioni di clienti assicurativi e ha collaborato con 139 assicuratori. Per il quarto trimestre del 2024, l'azienda ha riportato una perdita netta di RMB2,9 milioni, mentre l'intero anno 2024 ha mostrato una perdita netta minima di RMB0,6 milioni.
Tra i risultati notevoli ci sono un aumento del 39,1% nella dimensione media del biglietto FYP per i prodotti di risparmio a oltre RMB75.000 e tassi di persistenza superiori al 95%. L'azienda si è espansa a livello internazionale attraverso l'acquisizione di Global Care, con sede in Vietnam, e prevede di entrare nei mercati di Singapore e Filippine.
Huize Holding (NASDAQ: HUIZ) informó sus resultados financieros del cuarto trimestre y del año completo 2024, alcanzando primas de seguros récord. Las Primas Brutas Escritas (GWP) de la compañía alcanzaron RMB6.158,6 millones en 2024, un aumento del 6,2% con respecto a 2023. Las Primas del Primer Año (FYP) alcanzaron RMB3.421,0 millones, aumentando un 30,5% interanual.
Los ingresos del negocio internacional crecieron a RMB228,7 millones, contribuyendo con el 18% del ingreso total. La compañía atendió a 10,6 millones de clientes de seguros y se asoció con 139 aseguradoras. Para el cuarto trimestre de 2024, la compañía reportó una pérdida neta de RMB2,9 millones, mientras que el año completo 2024 mostró una pérdida neta mínima de RMB0,6 millones.
Logros notables incluyen un aumento del 39,1% en el tamaño promedio del ticket FYP para productos de ahorro a más de RMB75.000, y tasas de persistencia que superan el 95%. La compañía se expandió internacionalmente a través de la adquisición de Global Care, con sede en Vietnam, y planea ingresar a los mercados de Singapur y Filipinas.
Huize Holding (NASDAQ: HUIZ)는 2024년 4분기 및 연간 재무 결과를 보고하며 기록적인 보험료를 달성했습니다. 회사의 총 보험료(GWP)는 2024년에 RMB6,158.6백만에 달하여 2023년 대비 6.2% 증가했습니다. 첫 해 보험료(FYP)는 RMB3,421.0백만에 도달하여 전년 대비 30.5% 증가했습니다.
국제 사업 수익은 RMB228.7백만으로 증가하여 총 수익의 18%를 차지했습니다. 회사는 1,060만 명의 보험 고객을 대상으로 서비스를 제공했으며, 139개의 보험사와 파트너 관계를 맺었습니다. 2024년 4분기에는 RMB2.9백만의 순손실을 보고했으며, 2024년 전체 연도에는 RMB0.6백만의 최소 순손실을 기록했습니다.
주목할 만한 성과로는 저축 상품의 평균 FYP 티켓 크기가 RMB75,000을 초과하여 39.1% 증가하고, 지속률이 95%를 초과한 점이 있습니다. 회사는 베트남에 본사를 둔 Global Care를 인수하여 국제적으로 사업을 확장했으며, 싱가포르와 필리핀 시장에 진출할 계획입니다.
Huize Holding (NASDAQ: HUIZ) a annoncé ses résultats financiers du quatrième trimestre et de l'année entière 2024, atteignant des primes d'assurance record. Les Primes Brutes Écrites (GWP) de l'entreprise ont atteint RMB6.158,6 millions en 2024, en hausse de 6,2 % par rapport à 2023. Les Primes de la Première Année (FYP) ont atteint RMB3.421,0 millions, augmentant de 30,5 % d'une année sur l'autre.
Les revenus de l'activité internationale ont augmenté pour atteindre RMB228,7 millions, représentant 18 % du chiffre d'affaires total. L'entreprise a servi 10,6 millions de clients d'assurance et s'est associée à 139 assureurs. Pour le quatrième trimestre 2024, l'entreprise a déclaré une perte nette de RMB2,9 millions, tandis que l'année entière 2024 a montré une perte nette minimale de RMB0,6 millions.
Parmi les réalisations notables, on trouve une augmentation de 39,1 % de la taille moyenne des tickets FYP pour les produits d'épargne à plus de RMB75.000, et des taux de persistance dépassant 95 %. L'entreprise s'est développée à l'international grâce à l'acquisition de Global Care, basé au Vietnam, et prévoit d'entrer sur les marchés de Singapour et des Philippines.
Huize Holding (NASDAQ: HUIZ) hat seine finanziellen Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht und dabei Rekordversicherungsprämien erzielt. Die Brutto Prämien (GWP) des Unternehmens erreichten RMB6.158,6 Millionen im Jahr 2024, was einem Anstieg von 6,2% im Vergleich zu 2023 entspricht. Die Prämien des ersten Jahres (FYP) beliefen sich auf RMB3.421,0 Millionen und stiegen um 30,5% im Jahresvergleich.
Der internationale Geschäftsumsatz wuchs auf RMB228,7 Millionen, was 18% des Gesamtumsatzes ausmachte. Das Unternehmen bediente 10,6 Millionen Versicherungsnehmer und arbeitete mit 139 Versicherern zusammen. Für das vierte Quartal 2024 meldete das Unternehmen einen Nettoverlust von RMB2,9 Millionen, während das gesamte Jahr 2024 einen minimalen Nettoverlust von RMB0,6 Millionen aufwies.
Zu den bemerkenswerten Erfolgen gehören ein Anstieg von 39,1% bei der durchschnittlichen FYP-Ticketgröße für Sparprodukte auf über RMB75.000 und Persistenzquoten von über 95%. Das Unternehmen expandierte international durch die Übernahme von Global Care mit Sitz in Vietnam und plant, in die Märkte von Singapur und den Philippinen einzutreten.
- Record GWP of RMB6,158.6 million, up 6.2% YoY
- FYP grew 30.5% YoY to RMB3,421.0 million
- International revenue reached 18% of total revenue
- Average FYP ticket size for savings products increased 39.1% YoY
- High persistency ratios exceeding 95%
- Client base expanded to 10.6 million
- Successful expansion into Vietnam through Global Care acquisition
- Q4 2024 net loss of RMB2.9 million vs profit in Q4 2023
- Full-year 2024 net loss of RMB0.6 million vs profit in 2023
- Operating costs increased 15.9% YoY
- Renewal premiums decreased 13.9% YoY
- Cash and cash equivalents decreased to RMB233.2 million from RMB249.3 million in 2023
Insights
Huize's Q4 and full-year 2024 results present a mixed financial picture. While the company achieved record-high premium volumes with GWP reaching
The stark contrast between top-line growth and bottom-line performance is concerning. The company swung to a full-year net loss of
The international expansion appears to be driving growth but potentially at the expense of profitability. With international revenue now comprising
Cash reserves declined slightly to
Huize's strategic pivot toward international markets and focus on mass-affluent customers shows promise, but execution risks remain evident in the 2024 results. The company's high persistency ratios (consistently above
The dramatic
Huize's partnership network expansion to 139 insurer partners (80 life/health and 59 P&C carriers) provides product diversity but introduces complexity in maintaining consistent underwriting standards and customer experience. The integration of AI capabilities, particularly DeepSeek technology, into customer-facing applications represents an innovative approach but effectiveness remains unproven.
The Vietnam acquisition and planned expansion into Singapore and the Philippines face significant regulatory and market-fit challenges. Insurance distribution models vary substantially across Southeast Asian markets, with each requiring localized approaches despite regional proximity. The
While renewal premiums declined
SHENZHEN, China, March 24, 2025 (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 its unaudited financial results for the fourth quarter and full year ended December 31, 2024.
Full Year 2024 Financial and Operational Highlights
- Record-high insurance premiums: Gross written premiums (“GWP”) reached a record high of RMB6,158.6 million for the full year of 2024, compared to RMB5,800.9 million for 2023. First year premiums (“FYP”) also hit an all-time high of RMB3,421.0 million in 2024, up
30.5% year-over-year, primarily fueled by robust demand for our long-term savings products, our solid omnichannel distribution capabilities, and our proactive expansion into international businesses. - International businesses as new growth driver: Total revenue of our international businesses grew to RMB228.7 million in 2024. International revenue contribution reached
18% for the year ended 2024, on track in achieving our30% target by 2026. - The cumulative number of insurance clients served passed a significant milestone of 10 million and reached 10.6 million as of December 31, 2024. Huize cooperated with 139 insurer partners in mainland China and internationally, including 80 life and health insurance companies and 59 property and casualty insurance companies, as of December 31, 2024.
- As of December 31, 2024, cash and cash equivalents were RMB233.2 million (US
$31.9 million ).
Mr. Cunjun Ma, Founder and CEO of Huize, said, “We are pleased to report another year of resilient business results in 2024, achieving record highs in both total GWP and FYP, reaching RMB6.2 billion and RMB3.4 billion, respectively. This marks our second consecutive year of non-GAAP profitability. These results reflect our ability to navigate an evolving regulatory environment in China, innovate with high-value products, and successfully execute our international expansion strategy.
“Our focus on serving high-quality, mass-affluent customers continues to deliver strong results. In 2024, the average FYP ticket size for savings products surged by
“Poni Insurtech, our international arm, has become a cornerstone of our growth strategy, delivering exceptional results in 2024. Revenue from international operations accounts for
“The integration of our proprietary AI solutions across our operations has also been a key driver for efficiency and growth. Notably, we played a pioneering role in AI integration in the insurtech space by integrating DeepSeek into our Huize App, enabling us to deliver real-time, personalized, and data-driven recommendations. This advancement enhances the customer experience and supports the scalability of our growing customer base.”
Fourth Quarter 2024 Financial Results
GWP and operating revenue
GWP facilitated on our platform was RMB1,043.0 million (US
Operating revenue was RMB286.0 million (US
Operating costs
Operating costs were RMB186.8 million (US
Operating expenses
Selling expenses were RMB58.1 million (US
General and administrative expenses were RMB42.3 million (US
Research and development expenses were RMB15.9 million (US
Net profit and Non-GAAP net profit for the period
Net loss attributable to common shareholders was RMB2.9 million (US
Full Year 2024 Financial Results
GWP and operating revenue
GWP facilitated was RMB6,158.6 million (US
Operating revenue was RMB1,248.9 million (US
Operating costs
Operating costs were RMB868.3 million (US
Operating expenses
Selling expenses were RMB192.4 million (US
General and administrative expenses were RMB146.8 million (US
Research and development expenses were RMB62.4 million (US
Net profit and Non-GAAP net profit for the year
Net loss attributable to common shareholders in 2024 was RMB0.6 million (US
Cash and cash equivalents
As of December 31, 2024, the Company’s cash and cash equivalents amounted to RMB233.2 million (US
Conference Call
The Company’s management team will hold an earnings conference call at 8:00 A.M. Eastern Time on Monday, March 24, 2025 (8:00 P.M. Beijing/Hong Kong Time on Monday, March 24, 2025). Details for the conference call are as follows:
Event Title: Huize Holding Limited’s Fourth Quarter and Full Year 2024 Earnings Conference Call
Registration Link: https://register-conf.media-server.com/register/BIff2f67b8a24a43ce9c629fd34a76678d
All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registration, each participant will receive a confirmation email containing dial-in numbers and a unique access PIN, which will be used to join the conference call.
Additionally, a live and archived webcast of the conference call will also be available on the Company’s investor relations website at http://ir.huize.com.
About Huize Holding Limited
Huize Holding Limited is a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia. Targeting mass affluent consumers, Huize is dedicated to serving consumers for their life-long insurance needs. Its online-to-offline integrated insurance ecosystem covers the entire insurance life cycle and offers consumers a wide spectrum of insurance products, one-stop services, and a streamlined transaction experience across all scenarios. By leveraging AI, data analytics, and digital capabilities, Huize empowers the insurance service chain with proprietary technology-enabled solutions for insurance consultation, user engagement, marketing, risk management, and claims service.
Poni Insurtech Pte. Ltd. (“Poni Insurtech”) is the international arm of Huize. Headquartered in Singapore, Poni Insurtech is committed to building a pan-Asian digital insurance distribution platform. Featuring a presence in regional hubs including Singapore and Hong Kong (China), Poni Insurtech has made its debut in Vietnam in 2024, with plans to expand into other high-growth ASEAN markets such as Indonesia and the Philippines. Through its consumer facing apps and cloud-based API solutions, Poni Insurtech provides consumers with simple, affordable, and customized insurance solutions, empowers insurers with quick and hassle-free digitalization solutions to efficiently reach mass affluent consumers, and creates new revenue opportunities for partnering e-commerce platforms, merchants, and independent collaborators and agents. Poni Insurtech aims to reshape the insurance landscape by driving greater efficiency, accessibility, and value across the entire ecosystem.
For more information, please visit http://ir.huize.com or follow us on social media via LinkedIn (https://www.linkedin.com/company/huize-holding-limited), X(https://x.com/huizeholding) and Webull(https://www.webull.com/quote/nasdaq-huiz).
Use of Non-GAAP Financial Measure Statement
In evaluating our business, we consider and use non-GAAP net profit/(loss) attributable to common shareholders as a supplemental measure to review and assess our operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define non-GAAP net profit/(loss) attributable to common shareholders as net profit/(loss) attributable to common shareholders excluding share-based compensation expenses. Such adjustments have no impact on income tax because either the non-GAAP adjustments were recorded at entities located in tax free jurisdictions, such as the Cayman Islands or because the non-GAAP adjustments were recorded at operating entities located in the PRC for which the non-GAAP adjustments were not deductible for tax purposes.
We present the non-GAAP financial measure because it is used by our management to evaluate our operating performance and formulate business plans. Non-GAAP net profit/(loss) attributable to common shareholders enables our management to assess our operating results without considering the impact of share-based compensation expenses. We also believe that the use of this non-GAAP financial measure facilitates investors’ assessment of our operating performance.
This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as an analytical tool. One of the key limitations of using adjusted net profit/(loss) attributable to common shareholders is that it does not reflect all items of income and expense that affect our operations. Further, the non-GAAP financial measure may differ from the non-GAAP financial information used by other companies, including peer companies, and therefore their comparability may be limited.
The non-GAAP financial measure should not be considered in isolation or construed as an alternative to net profit/(loss) attributable to common shareholders or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review the historical non-GAAP financial measure in light of the most directly comparable GAAP measure, as shown below. The non-GAAP financial measure presented here may not be comparable to similarly titled measure presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing our data comparatively. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.2993 to US
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Huize’s beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, business outlook and quotations from management in this announcement, contain forward-looking statements. Huize may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Huize’s goal and strategies; Huize’s expansion plans; Huize’s future business development, financial condition and results of operations; Huize’s expectation regarding the demand for, and market acceptance of, its online insurance products; Huize’s expectations regarding its relationship with insurer partners and insurance clients and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing.
Further information regarding these and other risks is included in Huize’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Huize does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
Investor Relations
Kenny Lo
Investor Relations Manager
investor@huize.com
Media Relations
mediacenter@huize.com
Christensen Advisory
In China
Ms. Dee Wang
Phone: +86-10-5900-1548
Email: dee.wang@christensencomms.com
In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com
| Huize Holding Limited Unaudited Condensed Consolidated Balance Sheets (all amounts in thousands, except for share and per share data) | ||||||||||
| As of December 31 | As of December 31 | |||||||||
| 2023 | 2024 | |||||||||
| RMB | RMB | USD | ||||||||
| Assets | ||||||||||
| Current assets | ||||||||||
| Cash and cash equivalents | 249,258 | 233,207 | 31,949 | |||||||
| Restricted cash | 42,307 | 61,708 | 8,454 | |||||||
| Short-term investments | 8,879 | 5,000 | 685 | |||||||
| Contract assets, net of allowance for doubtful accounts | 41,481 | 71,085 | 9,739 | |||||||
| Accounts receivables, net of allowance for impairment | 178,294 | 157,080 | 21,520 | |||||||
| Insurance premium receivables | 927 | 1,763 | 242 | |||||||
| Amounts due from related parties | 383 | 995 | 136 | |||||||
| Deferred costs | 6,147 | - | - | |||||||
| Prepaid expense and other receivables | 78,784 | 68,171 | 9,339 | |||||||
| Total current assets | 606,460 | 599,009 | 82,064 | |||||||
| Non-current assets | ||||||||||
| Restricted cash | 29,687 | 29,883 | 4,094 | |||||||
| Contract assets, net of allowance for doubtful accounts | 12,495 | 28,435 | 3,896 | |||||||
| Property, plant and equipment, net | 54,107 | 47,083 | 6,450 | |||||||
| Intangible assets, net | 50,743 | 68,840 | 9,431 | |||||||
| Long-term investments | 76,688 | 66,716 | 9,140 | |||||||
| Operating lease right-of-use assets | 115,946 | 20,715 | 2,838 | |||||||
| Goodwill | 461 | 14,536 | 1,991 | |||||||
| Other assets | 419 | 8,981 | 1,232 | |||||||
| Total non-current assets | 340,546 | 285,189 | 39,072 | |||||||
| Total assets | 947,006 | 884,198 | 121,136 | |||||||
| Liabilities and Shareholders’ Equity | ||||||||||
| Current liabilities | ||||||||||
| Short-term borrowings | 30,000 | 50,000 | 6,850 | |||||||
| Accounts payable | 211,905 | 202,054 | 27,681 | |||||||
| Insurance premium payables | 37,514 | 56,042 | 7,678 | |||||||
| Contract liabilities | 2,728 | - | - | |||||||
| Other payables and accrued expenses | 34,850 | 44,434 | 6,087 | |||||||
| Payroll and welfare payable | 56,207 | 41,005 | 5,618 | |||||||
| Income taxes payable | 2,440 | 2,575 | 353 | |||||||
| Operating lease liabilities | 16,949 | 16,743 | 2,294 | |||||||
| Amount due to related parties | 2,451 | 2,495 | 342 | |||||||
| Total current liabilities | 395,044 | 415,348 | 56,903 | |||||||
| Non-current liabilities | ||||||||||
| Deferred tax liabilities | 12,048 | 14,875 | 2,038 | |||||||
| Operating lease liabilities | 129,299 | 24,082 | 3,299 | |||||||
| Payroll and welfare payable | 200 | 649 | 89 | |||||||
| Total non-current liabilities | 141,547 | 39,606 | 5,426 | |||||||
| Total liabilities | 536,591 | 454,954 | 62,329 | |||||||
| Shareholders’ equity | ||||||||||
| Class A common shares | 62 | 63 | 9 | |||||||
| Class B common shares | 10 | 10 | 1 | |||||||
| Treasury stock | (28,580 | ) | (29,513 | ) | (4,043 | ) | ||||
| Additional paid-in capital | 905,958 | 909,930 | 124,660 | |||||||
| Accumulated other comprehensive loss | (14,060 | ) | (12,864 | ) | (1,762 | ) | ||||
| Accumulated deficits | (458,237 | ) | (458,886 | ) | (62,867 | ) | ||||
| Total shareholders’ equity attributable to Huize Holding Limited shareholders | 405,153 | 408,740 | 55,998 | |||||||
| Non-controlling interests | 5,262 | 20,504 | 2,809 | |||||||
| Total shareholders’ equity | 410,415 | 429,244 | 58,807 | |||||||
| Total liabilities and shareholders’ equity | 947,006 | 884,198 | 121,136 | |||||||
| Huize Holding Limited Unaudited Condensed Consolidated Statements of Comprehensive Income/(Loss) (all amounts in thousands, except for share and per share data) | ||||||||||||||||||
| For the Three Months Ended December 31, | For the Twelve Months Ended December 31, | |||||||||||||||||
| 2023 | 2024 | 2023 | 2024 | |||||||||||||||
| RMB | RMB | USD | RMB | RMB | USD | |||||||||||||
| Operating revenue | ||||||||||||||||||
| Brokerage income | 221,504 | 258,982 | 35,480 | 1,144,533 | 1,193,827 | 163,554 | ||||||||||||
| Other income | 14,503 | 26,971 | 3,695 | 51,019 | 55,087 | 7,547 | ||||||||||||
| Total operating revenue | 236,007 | 285,953 | 39,175 | 1,195,552 | 1,248,914 | 171,101 | ||||||||||||
| Operating costs and expenses | ||||||||||||||||||
| Cost of revenue | (132,006 | ) | (185,370 | ) | (25,396 | ) | (729,068 | ) | (855,496 | ) | (117,202 | ) | ||||||
| Other cost | (4,275 | ) | (1,390 | ) | (190 | ) | (19,938 | ) | (12,790 | ) | (1,753 | ) | ||||||
| Total operating costs | (136,281 | ) | (186,760 | ) | (25,586 | ) | (749,006 | ) | (868,286 | ) | (118,955 | ) | ||||||
| Selling expenses | (41,510 | ) | (58,120 | ) | (7,962 | ) | (204,261 | ) | (192,425 | ) | (26,362 | ) | ||||||
| General and administrative expenses | (27,301 | ) | (42,342 | ) | (5,801 | ) | (119,404 | ) | (146,769 | ) | (20,107 | ) | ||||||
| Research and development expenses | (17,222 | ) | (15,887 | ) | (2,177 | ) | (71,842 | ) | (62,391 | ) | (8,548 | ) | ||||||
| Total operating costs and expenses | (222,314 | ) | (303,109 | ) | (41,526 | ) | (1,144,513 | ) | (1,269,871 | ) | (173,972 | ) | ||||||
| Operating profit/(loss) | 13,693 | (17,156 | ) | (2,351 | ) | 51,039 | (20,957 | ) | (2,871 | ) | ||||||||
| Other income/(expenses) | ||||||||||||||||||
| Interest income/(expenses) | 492 | 779 | 107 | 2,789 | 4,139 | 567 | ||||||||||||
| Unrealized exchange (loss)/income | (127 | ) | (414 | ) | (57 | ) | (436 | ) | (684 | ) | (94 | ) | ||||||
| Investment income/(loss) | (728 | ) | 1,721 | 236 | (1,656 | ) | (511 | ) | (70 | ) | ||||||||
| Others, net | 4,090 | 10,267 | 1,407 | 18,401 | 17,179 | 2,354 | ||||||||||||
| Profit/(loss) before income tax, and share of income/(loss) of equity method investee | 17,420 | (4,803 | ) | (658 | ) | 70,137 | (834 | ) | (114 | ) | ||||||||
| Income tax expense | - | (135 | ) | (18 | ) | - | (135 | ) | (18 | ) | ||||||||
| Share of income/(loss) of equity method investee | 52 | 1,318 | 181 | 417 | 1,535 | 210 | ||||||||||||
| Net profit/(loss) | 17,472 | (3,620 | ) | (495 | ) | 70,554 | 566 | 78 | ||||||||||
| Net (loss)/profit attributable to non-controlling interests | (515 | ) | (759 | ) | (103 | ) | 366 | 1,215 | 167 | |||||||||
| Net (loss)/profit attributable to Huize Holding Limited | 17,987 | (2,861 | ) | (392 | ) | 70,188 | (649 | ) | (89 | ) | ||||||||
| Net profit/(loss) | 17,472 | (3,620 | ) | (495 | ) | 70,554 | 566 | 78 | ||||||||||
| Foreign currency translation adjustment, net of tax | (4,854 | ) | 2,554 | 350 | 3,635 | 1,196 | 164 | |||||||||||
| Comprehensive (loss)/profit | 12,618 | (1,066 | ) | (145 | ) | 74,189 | 1,762 | 242 | ||||||||||
| Comprehensive (loss)/income attributable to non-controlling interests | (515 | ) | (759 | ) | (103 | ) | 366 | 1,215 | 167 | |||||||||
| Comprehensive (loss)/income attributable to Huize Holding Limited | 13,133 | (307 | ) | (42 | ) | 73,823 | 547 | 75 | ||||||||||
| Weighted average number of common shares used in computing net profit per share | ||||||||||||||||||
| Basic and diluted | 991,808,483 | 1,008,857,623 | 1,008,857,623 | 1,000,940,698 | 997,172,042 | 997,172,042 | ||||||||||||
| Net profit/ (loss) per share attributable to common shareholders | ||||||||||||||||||
| Basic and diluted | 0.02 | (0.00 | ) | (0.00 | ) | 0.07 | (0.00 | ) | (0.00 | ) | ||||||||
| Huize Holding Limited Unaudited Reconciliations of GAAP and Non-GAAP Results (all amounts in thousands, except for share and per share data) | |||||||||||||||||
| For the Three Months Ended December 31, | For the Twelve Months Ended December 31, | ||||||||||||||||
| 2023 | 2024 | 2023 | 2024 | ||||||||||||||
| RMB | RMB | USD | RMB | RMB | USD | ||||||||||||
| Net profit attributable to common shareholders | 17,987 | (2,861 | ) | (392 | ) | 70,188 | (649 | ) | (89 | ) | |||||||
| Share-based compensation expenses | (1,600 | ) | 1,536 | 210 | 2,109 | 9,021 | 1,236 | ||||||||||
| Non-GAAP net profit attributable to common shareholders | 16,387 | (1,325 | ) | (182 | ) | 72,297 | 8,372 | 1,147 | |||||||||
FAQ
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