Huize Holding Limited American Depositary Shares - HUIZ STOCK NEWS

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.

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.