Welcome to our dedicated page for Huize Holding news (Ticker: HUIZ), a resource for investors and traders seeking the latest updates and insights on Huize Holding stock.
Huize Holding Limited (NASDAQ: HUIZ) is a premier digital insurance product and service platform catering to new-generation consumers in China. The company operates an independent online platform that distributes insurance products underwritten by its partnered insurance companies. These insurer partners rely on Huize to connect with a large clientele through various internet and mobile channels.
Huize offers a digitalized insurance purchasing experience, backed by AI-powered tools and data-driven insights. The platform supports the entire insurance life cycle, from consultation, user engagement, marketing, and risk management to claims services. The company targets mass affluent consumers, providing a comprehensive range of insurance products and one-stop services that streamline the transaction process.
Recent achievements include the launch of products like “Darwin Critical Care No.9” and “i Wu You – Low-Threshold Edition,” which are designed to provide extensive coverage and flexible options for customers with various health conditions. The company also recently announced its participation in the 14th Annual LD Micro Invitational, reflecting its active engagement in the financial community.
Financially, Huize generates revenue from the brokerage fees paid by its insurer partners. The company's strong focus on leveraging technology and data analytics has positioned it as a leader in the insurance technology sector in China. Partnerships with prominent insurance carriers further bolster its market position, enabling it to offer innovative and customer-centric products.
For the latest updates and more information, please visit Huize’s Investor Relations page.
Huize Holding Limited (NASDAQ: HUIZ) has partnered with Sunshine Insurance Group to launch the "Darwin Critical Care 2021" product, aimed at providing critical illness insurance for individuals with pre-existing conditions. This launch addresses a significant market gap, particularly for the 507 million individuals in China affected by obesity, 420 million with hypertension, and 130 million with diabetes. The product covers more than 20 high-risk diseases, allowing previously uninsured consumers access to coverage.
Huize Holding Limited (NASDAQ: HUIZ) reported strong financial results for Q1 2021, with total gross written premiums (GWP) rising 133.1% to RMB1,393.8 million. Operating revenue surged 195.5% to a record RMB735.0 million (US$112.2 million). The company achieved a net profit of RMB28.5 million, up from a loss of RMB2.3 million in Q1 2020. Cumulative insurance clients served reached approximately 7 million. The outlook for Q2 2021 estimates revenue between RMB230 million to RMB250 million, influenced by market uncertainties.
Huize Holding Limited (NASDAQ: HUIZ) has announced it will release its Q1 2021 financial results on May 18, 2021, before market opening. The management team will conduct a conference call on the same day at 8:00 A.M. Eastern Time to discuss these results. Interested parties must register online to obtain dial-in details. A replay of the call will be available until May 26, 2021. Huize is a leading online insurance platform in China, focusing on long-term life and health insurance products for consumers, enhancing their digital insurance experience.
Huize Holding Limited (NASDAQ: HUIZ) reported robust financial results for Q4 and the full year 2020. Q4 total Gross Written Premiums (GWP) surged 63% to RMB1,047 million, while annual GWP rose 49.9% to RMB3,019.9 million. Operating revenue also climbed 50.3% in Q4 to RMB388.1 million, and 22.8% for the year to RMB1,220.2 million. Despite these gains, the company recorded a net loss of RMB27 million for Q4 and RMB18.3 million for the year, a decline from 2019's profit. Looking ahead, Huize expects Q1 2021 revenue between RMB650 million to RMB700 million.
Huize Holding Limited (NASDAQ: HUIZ) will release its fourth quarter 2020 financial results on March 10, 2021, prior to market opening. The management team will host a conference call on the same day at 7:00 A.M. ET to discuss the results, which requires prior online registration. Participants can access a replay of the call until March 18, 2021. As an independent online insurance platform in China, Huize targets the new generation consumers by providing a range of long-term life and health insurance products.
Huize Holding Limited (NASDAQ: HUIZ) announced the appointment of Mr. Aaron Xiaolei Hou to its board of directors, effective February 12, 2021. Mr. Hou will also hold positions in various board committees, enhancing governance standards with his 20 years of experience in risk management and capital markets. Concurrently, COO Li Jiang will step down from the board but continue in his executive role, resulting in a board primarily composed of independent directors. This leadership change aims to bolster risk management practices and governance within Huize.
Huize Holding Limited (NASDAQ: HUIZ) announced preliminary estimated unaudited total operating revenue of at least RMB380 million for Q4 2020, marking a record quarterly high with a 47.1% year-over-year growth. This surpasses previous guidance of RMB330 million to RMB350 million. Total Gross Written Premiums (GWP) for the quarter are expected to be approximately RMB1,000 million, reflecting a 55.7% increase from the prior year. The growth is attributed to strong market demand for proprietary critical illness products and an increase in online insurance purchases during China's economic recovery.
Huize Holding Limited (NASDAQ: HUIZ) reported its unaudited financial results for Q3 2020, showing a 22.9% increase in total operating revenue to RMB348.5 million (US$51.3 million). Gross Written Premiums surged 41.2% year-over-year to a record RMB779.0 million. The net profit was RMB14.7 million (US$2.2 million), down from RMB16.1 million in Q3 2019. Non-GAAP net profit also decreased to RMB20.4 million (US$3.0 million). The company forecasts Q4 2020 operating revenue between RMB330 million and RMB350 million.
Huize Holding Limited (NASDAQ: HUIZ) will release its Q3 2020 financial results on November 19, 2020, before market opening. The management team will host a conference call at 7:00 A.M. ET to discuss these results. Participants are required to register online to receive dial-in details and a unique access PIN for the call. The call will also be available for replay until November 27, 2020, through designated international numbers. Huize is recognized as the largest independent online insurance platform in China, focusing on life and health insurance.
Huize Holding Limited (NASDAQ: HUIZ) announced its annual general meeting of shareholders scheduled for December 10, 2020, at 10:00 AM Beijing time. The meeting will be held at the Shenzhen Animation Park without any proposals for shareholder approval, serving as a forum for discussion with management. The record date for attendees is set for November 2, 2020. Additionally, Huize has filed its annual report on Form 20-F, including audited financials for the fiscal year ended December 31, 2019, which is accessible on both their website and the SEC's website.
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