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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 (NASDAQ: HUIZ), a leading insurance technology platform in China, has regained compliance with Nasdaq's Minimum Bid Price Requirement. The company received a notification letter from Nasdaq on July 15, 2024, confirming that its American depositary shares (ADSs) have maintained a closing bid price of $1.00 or higher for 20 consecutive business days, from June 13 to July 12, 2024.
This development resolves the previous non-compliance issue, which was notified to Huize on January 5, 2024, when its ADS price fell below $1.00 for 30 consecutive business days. With this compliance restoration, Nasdaq has closed the matter, ensuring Huize's continued listing on the exchange.
Huize Holding (NASDAQ: HUIZ) has acquired Global Care Consulting, a leading Vietnamese insurtech company, marking its entry into the ASEAN market through its international brand Poni Insurtech.
This acquisition aims to expand Huize's digital insurance distribution platform in growing economies with a young, digital-native population. Global Care, founded in 2017, specializes in digitizing insurance sales processes and has shown strong growth, facilitating 13.5 million policies in 2023 and quadrupling its revenue.
Huize will acquire a controlling stake in Global Care, with VinaCapital Ventures receiving newly issued Huize shares as part of the consideration. Upon completion, Global Care will become a subsidiary of Huize, and its financial results will be consolidated into Huize's financial statements.
Huize expects significant synergies from this acquisition, leveraging its technology and AI solutions to drive market share growth and product development in Vietnam's burgeoning insurance market.
Huize Holding (NASDAQ: HUIZ), a prominent insurance technology platform in China, will present at the Emerging Growth Conference on June 13, 2024. The event will feature a live, interactive session with the Company's Co-CFO, Mr. Ron Tam, providing a corporate overview and answering questions from shareholders and the investment community. Scheduled for 9:40 AM Eastern time, the presentation will last 30 minutes. Questions can be submitted in advance to Questions@EmergingGrowth.com. If attendees miss the live event, an archived webcast will be available on EmergingGrowth.com and the Emerging Growth YouTube Channel.
On June 7, 2024, Huize Holding (NASDAQ: HUIZ), an insurance technology platform, announced a partnership with PICC Property and Casualty Company to launch “WarmTreasure No.3,” a customized insurance product for children. The product offers enhanced reimbursement options, coverage for 21 critical illnesses, and additional benefits like dental trauma coverage. Key features include up to 100% reimbursement for medical expenses covered by China's social insurance, benefits up to RMB80,000 for outpatient and emergency treatment, and up to RMB100,000 for critical illness coverage. CEO Cunjun Ma highlighted the product's comprehensive coverage and cost-effectiveness, emphasizing its alignment with Huize's strategy to innovate and diversify its offerings.
Huize Holding (NASDAQ: HUIZ), a leading insurance technology platform, released its unaudited Q1 2024 financial results, showcasing significant growth and operational efficiency. First Year Premiums (FYP) rose by 29.7% YOY to RMB857.2 million, driven by high-value customer acquisition and product innovation. Operating expenses decreased by 24.9% YOY to RMB81.2 million, improving the expense-to-income ratio to 26.2%. However, Gross Written Premiums (GWP) fell by 11.1% YOY to RMB1,718.0 million, and net profit declined to RMB6.9 million from RMB17.9 million. Despite this, operating revenue increased by 3.8% YOY to RMB310.3 million. Huize's international expansion, particularly in Hong Kong, contributed to its diversified revenue streams. The company remains focused on leveraging AI capabilities and expanding into Southeast Asia.
Huize Holding (NASDAQ: HUIZ), a leading digital insurance platform in China, announced it will release its unaudited first-quarter 2024 financial results on May 23, 2024, after the U.S. market closes.
The company will hold an earnings conference call at 9:00 P.M. Eastern Time on the same day, which corresponds to 9:00 A.M. Beijing/Hong Kong Time on May 24, 2024.
Participants need to register through the provided link to obtain access details. The webcast will be available on Huize's investor relations website.
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