Huize Holding Limited American Depositary Shares - HUIZ STOCK NEWS

Huize Holding (NASDAQ: HUIZ) announced a strategic partnership with New China Life Insurance (NCI) to launch “Bliss”, a customized annuity insurance product. Bliss targets risk-averse clients with offerings like rapid cash value growth, flexible annuity start times, seamless enrollment without health declarations, and affordable premiums starting at RMB2,000 annually. Additionally, it includes up to 5 years of complimentary health management services. This collaboration aims to leverage Huize's digital capabilities, enhancing customer management and expanding health services, ultimately positioning Huize as a leading digital partner in the insurance sector.

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.

Huize partners with PICC Life Insurance to launch 'i Wu You - Low-Threshold Edition', a customized critical illness insurance product. The product offers flexible coverage for 28 severe and three mild illnesses, a relaxed health declaration process, and a low eligibility threshold for customers aged 30 to 65. The partnership aims to provide protection to a wider range of customers with sub-health and pre-existing conditions.

Huize Holding , a prominent insurance technology platform in China, has filed its 2023 Annual Report on Form 20-F with the SEC. The report highlights the company's digital connectivity with consumers, insurance carriers, and distribution partners through data-driven and AI-powered solutions.