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) will hold its annual general meeting (AGM) on December 2, 2021, at 10:00 a.m. Beijing time. The meeting will take place at 49/F, Building T1, Qianhai Financial Centre, Shenzhen. No proposals will be submitted for approval; instead, the AGM will serve as a forum for shareholders to discuss company affairs with management. The record date for shareholder eligibility is set for November 4, 2021. Additionally, Huize has filed its annual report with the SEC, providing audited financial statements for the fiscal year ending December 31, 2020.
Huize Holding Limited (NASDAQ: HUIZ) announced an agreement to acquire a controlling 56.19% equity interest in Hubei Shengs Life & General Insurance Agency Co., Ltd. for approximately RMB42.68 million in cash, plus a capital injection of RMB15 million. This acquisition, facilitated through Huize's subsidiary Zhixuan Investment, aims to transform Shengs Life & General into a wholly-owned subsidiary of Huize. The transaction is anticipated to close by the end of 2021, pending customary conditions. This strategic move is expected to bolster Huize's position in China's digital insurance market.
Huize Holding Limited (NASDAQ: HUIZ) reported a strong performance for the first half of 2021, achieving a 72.7% increase in Gross Written Premiums (GWP) to RMB2.06 billion (US$319.1 million) and a 97.1% rise in operating revenue to RMB953.6 million (US$147.7 million). However, net losses increased to RMB48.7 million (US$7.5 million) from RMB6.0 million a year earlier. In the second quarter, GWP grew by 12.1% to RMB668.0 million, while operating revenue fell by 7.0% to RMB218.6 million. The company expects full-year revenue to reach RMB1.7 billion, a 40% year-over-year increase.
Huize Holding Limited (NASDAQ: HUIZ) has partnered with Hengqin Life Insurance Company to launch 'Hui Xin An No.5', a critical illness insurance product specifically for children. Key features include coverage for 20 childhood diseases, optional liability waivers, and up to RMB750,000 in coverage for early purchasers. CEO Cunjun Ma emphasized the product's design is based on market demand for comprehensive children's health insurance amidst existing limitations. The initiative aligns with Huize's long-term strategy of product innovation and sustainable revenue growth.
Huize Holding Limited (NASDAQ: HUIZ), a leading online insurance platform in China, announced plans to release its financial results for the first half and second quarter of 2021 on September 9, 2021. The management team will hold a conference call at 8:00 A.M. Eastern Time to discuss the results. Participants must register online to receive dial-in information. A replay of the call will be available until September 17, 2021. Huize focuses on providing a digital insurance experience for the younger generation and offers a range of long-term life and health insurance products.
Huize Holding Limited (NASDAQ: HUIZ) announced a binding memorandum to acquire a controlling equity interest in Hubei Shengs Life & General Insurance Agency Co., Ltd. The transaction is expected to complete by the end of 2021, enhancing Huize's online-to-offline integration strategy. Shengs Life & General, established in 2011, focuses on distributing life and health insurance products and operates over 20 sales outlets. This acquisition aims to leverage Shengs Life's customer insights and sales team to improve market presence and accelerate Huize's digital insurance platform.
Huize Holding Limited (NASDAQ: HUIZ) announced a partnership with Sun Life Everbright Life Insurance to launch the "Everbright Smart Choice" retirement annuity insurance product. This offering features flexible premium payments, lifetime annuity income with high cash value, and guaranteed returns of 3%. Eligible customers gain priority access to Sun Life Everbright Elderly-Care Communities. As China's pension replacement rate declines from 72% in 2000 to 42% in 2020, Huize aims to fill this gap with customized insurance products that enhance retirement security.
Huize Holding Limited (NASDAQ: HUIZ) announced the approval of a Management Share Purchase Plan, enabling its management team, including CEO Cunjun Ma, to purchase up to $5 million in the company's ADSs over the next six months. This initiative reflects the management's confidence in Huize's business fundamentals and growth prospects, despite challenges faced by Chinese companies listed in the US. The company aims to leverage its platform to cater to new generation insurance consumers, focusing on long-term life and health insurance products.
Huize Holding Limited (NASDAQ: HUIZ) has partnered with Sungrow to introduce immune cell cryopreservation as a new healthcare service for its insurance customers. This advanced biotechnology, supported by BGI Cell, allows for the preservation of immune cells at ultra-low temperatures for future medical uses, including anti-aging and immune regulation. Mr. Cunjun Ma, CEO of Huize, expressed enthusiasm for this development, emphasizing the aim to enhance customer engagement and diversify offerings in the insurance market.
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