Huize Holding Limited Reports Unaudited Financial Results for the Second Half and Full Year 2025
Rhea-AI Summary
Huize Holding (NASDAQ: HUIZ) reported unaudited results for H2 and full year 2025. Full-year GWP reached RMB7,427.1M (+20.6% YoY) and FYP RMB4,630.8M (+35.4% YoY). Total revenue was RMB1,582.2M (+26.7%). Expense-to-income ratio improved to 26.3% (down 5.9pp). The company delivered net profit attributable to common shareholders of RMB4.0M and non-GAAP net profit of RMB22.6M, its third consecutive year of non-GAAP profitability. Cash and equivalents were RMB250.8M at year-end.
Operational notes: 12.3M cumulative clients, 158 insurer partners, ~1.7M new customers in 2025, and expanded AI deployment across the business.
Positive
- FYP +35.4% YoY to RMB4,630.8M
- GWP +20.6% YoY to RMB7,427.1M
- Revenue +26.7% YoY to RMB1,582.2M
- Expense-to-income ratio improved by 5.9 percentage points to 26.3%
- Non-GAAP net profit of RMB22.6M, third consecutive year of non-GAAP profitability
Negative
- Operating costs increased 33.6% YoY to RMB1,160.3M
- Second-half net profit fell to RMB1.8M from RMB15.8M in H2 2024
- Channel and selling expenses rose materially, pressuring margins
Key Figures
Market Reality Check
Peers on Argus
HUIZ was up 2.41% pre-release, while peers were mixed: ZBAO up 0.07%, but RELI, AIFU, TIRX and GOCO down between 7–41%, indicating a stock-specific setup rather than a broad insurance broker move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Sep 12 | Q2 2025 earnings | Positive | +48.8% | Strong Q2 growth in FYP, GWP, revenue and margin efficiency with net profit. |
| Jun 06 | Q1 2025 earnings | Neutral | +7.4% | Mixed Q1 with premium growth and efficiency gains but a net loss year-over-year. |
| Mar 24 | FY 2024 results | Positive | -5.9% | Record 2024 premiums and client growth alongside a small full-year net loss. |
| Dec 10 | Q3 2024 earnings | Positive | -32.5% | Record Q3 2024 GWP and FYP, rising international revenue and solid profitability. |
| Sep 25 | Q2 2024 earnings | Negative | -14.4% | Q2 2024 revenue decline and net loss despite higher renewal premiums and cash. |
Earnings releases often move HUIZ sharply, with both strong rallies and steep selloffs following similar updates.
Recent HUIZ earnings have highlighted rapid growth in FYP and GWP, improving expense ratios, and a shift from losses to profit. Events on Sep 12, 2025 and earlier in 2024 showed that even strong operating trends sometimes coincided with sharp drawdowns, while other quarters like Q2 2025 saw large gains. Today’s full-year 2025 report continues themes of record premiums, higher revenue and sustained non-GAAP profitability, extending this operational trajectory.
Historical Comparison
Across the last five earnings-related releases, HUIZ saw an average move of 0.67%, with reactions ranging from sharp rallies to deep selloffs, underscoring historically volatile responses to financial updates.
Earnings releases since 2024 show progression from small losses toward recurring profitability, driven by rising FYP and GWP, expanding client and insurer networks, and improving expense ratios supported by AI-enabled efficiency.
Market Pulse Summary
This announcement reports record 2025 premiums, with GWP of RMB7,427.1M, FYP of RMB4,630.8M, revenue of RMB1,582.2M, and a return to net profit alongside RMB22.6M in non-GAAP earnings. Expense efficiency improved, and cash reached RMB250.8M. Historically, HUIZ’s earnings have triggered sizable moves both up and down, so investors often monitor premium growth mix, expense-to-income ratios, and consistency of profitability across future reporting periods.
Key Terms
non-GAAP net profit financial
persistency ratios financial
expense-to-income ratio financial
annuity financial
ai agents technical
AI-generated analysis. Not financial advice.
SHENZHEN, China, March 27, 2026 (GLOBE NEWSWIRE) -- Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ: HUIZ), a leading insurance technology platform connecting consumers, insurance carriers, and distribution partners digitally through data-driven and AI-powered solutions in Asia, today announced its unaudited financial results for the second half and full year ended December 31, 2025.
Full Year 2025 Financial and Operational Highlights
- Record-breaking insurance premiums: Both first year premiums (“FYP”) and gross written premiums (“GWP”) reached record highs of RMB4,630.8 million and RMB7,427.1 million in 2025, representing robust increases of
35.4% and20.6% year-over-year, respectively. This remarkable performance was primarily driven by our high-quality customer base, consistently strong persistency ratios, and a diversified product portfolio designed to address the diverse financial and protection needs of our clients. - Strong revenue growth and efficiency gains drove sustained profitability: Total revenue increased by
26.7% year-over-year to RMB1,582.2 million in 2025. Our expense-to-income ratio notably improved from32.2% in 2024 to26.3% in 2025, demonstrating the impact of company-wide deployment of proprietary AI solutions, boosting productivity and optimizing workflows. As a result, we delivered a net profit attributable to common shareholders of RMB4.0 million, and a non-GAAP net profit attributable to common shareholders1 of RMB22.6 million in 2025, marking our third consecutive year of non-GAAP profitability. - Cumulative number of insurance clients served increased to 12.3 million as of December 31, 2025. We cooperated with 158 insurer partners in mainland China and internationally, including 89 life and health insurance and 69 property and casualty insurance companies, as of December 31, 2025.
- As of December 31, 2025, cash and cash equivalents were RMB250.8 million (US
$35.9 million ).
Mr. Cunjun Ma, Founder and CEO of Huize, said, “We are pleased to report another year of encouraging results, with both GWP and FYP facilitated on our platform reaching record highs of RMB7.4 billion and RMB4.6 billion in 2025, respectively. Furthermore, through the company-wide deployment of our proprietary AI solutions, we continued to deliver profitability, reporting a non-GAAP net profit attributable to common shareholders of RMB22.6 million in 2025. This milestone marks our third consecutive year of non-GAAP profitability, a powerful testament to our disciplined execution and the long-term sustainability of our business model in an evolving market.”
“We continue to leverage our advanced AI solutions to acquire high-quality, mass-affluent customers and enhance customer engagement. In 2025, we acquired approximately 1.7 million new customers. The average age of customers purchasing long-term insurance products was 35.3 years, with
“To address the lifelong financial and protection needs of our customers, we continue to collaborate closely with insurer partners to co-develop and refine customized product offerings. In response to rising demand for high-quality financial planning solutions amid an aging demographic, we launched ‘Dajia Hui Xuan 2.0’, a participating annuity designed to provide premium and diversified retirement planning solutions. During the year, we also launched two million-yuan medical insurance products, namely ‘Xing Xiang Shou 2.0’ and ‘Chang Xiang An 3.0’. Together, these launches reinforce our core competitiveness in the medical insurance segment and lay a solid foundation for our long-term, sustainable growth.”
“We are making steady progress in executing our systematic three-pillar AI strategy. First, we have deployed AI solutions across the organization to foster an AI-native culture and enhance operational efficiency. These proprietary solutions have already been implemented in various business functions to automate core operations, including customer service and claims processing, contributing meaningfully to our efficiency improvement. As a result, our expense-to-income ratio improved by 5.9 percentage points year-over-year to
Second Half 2025 Financial Results
GWP and operating revenue
GWP facilitated on our platform was RMB4,193.3 million (US
Operating revenue was RMB901.7 million (US
Operating costs
Operating costs were RMB662.0 million (US
Operating expenses
Selling expenses were RMB120.5 million (US
General and administrative expenses were RMB88.2 million (US
Research and development expenses were RMB29.2 million (US
Net profit and non-GAAP net profit for the period
Net profit attributable to common shareholders was RMB1.8 million (US
Full Year 2025 Financial Results
GWP and operating revenue
GWP facilitated was RMB7,427.1 million (US
Operating revenue was RMB1,582.2 million (US
Operating costs
Operating costs were RMB1,160.3 million (US
Operating expenses
Selling expenses were RMB220.3 million (US
General and administrative expenses were RMB136.3 million (US
Research and development expenses were RMB58.7 million (US
Net profit and Non-GAAP net profit for the year
Net profit attributable to common shareholders in 2025 was RMB4.0 million (US
Cash and cash equivalents
As of December 31, 2025, the Company’s cash and cash equivalents amounted to RMB250.8 million (US
Conference Call
The Company’s management team will hold an earnings conference call at 8:00 A.M. Eastern Time on Friday, March 27, 2026 (8:00 P.M. Beijing/Hong Kong Time on Friday, March 27, 2025). Details for the conference call are as follows:
Event Title: Huize Holding Limited’s Second Half and Full Year 2025 Earnings Conference Call
Registration Link: https://register-conf.media-server.com/register/BI5ea2ea1bb6f245b5b2bece07d9d816b8
All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registration, each participant will receive a confirmation email containing dial-in numbers and a unique access PIN, which will be used to join the conference call.
Additionally, a live and archived webcast of the conference call will also be available on the Company’s investor relations website at http://ir.huize.com.
About Huize Holding Limited
Huize Holding Limited is a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia. Targeting mass affluent consumers, Huize is dedicated to serving consumers for their life-long insurance needs. Its online-to-offline integrated insurance ecosystem covers the entire insurance life cycle and offers consumers a wide spectrum of insurance products, one-stop services, and a streamlined transaction experience across all scenarios. By leveraging AI, data analytics, and digital capabilities, Huize empowers the insurance service chain with proprietary technology-enabled solutions for insurance consultation, user engagement, marketing, risk management, and claims service.
For more information, please visit http://ir.huize.com or follow us on social media via LinkedIn (https://www.linkedin.com/company/huize-holding-limited), X (https://x.com/huizeholding) and Webull (https://www.webull.com/quote/nasdaq-huiz).
Use of Non-GAAP Financial Measure Statement
In evaluating our business, we consider and use non-GAAP net profit/(loss) attributable to common shareholders as a supplemental measure to review and assess our operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define non-GAAP net profit/(loss) attributable to common shareholders as net profit/(loss) attributable to common shareholders excluding share-based compensation expenses. Such adjustments have no impact on income tax because either the non-GAAP adjustments were recorded at entities located in tax free jurisdictions, such as the Cayman Islands or because the non-GAAP adjustments were recorded at operating entities located in the PRC for which the non-GAAP adjustments were not deductible for tax purposes.
We present the non-GAAP financial measure because it is used by our management to evaluate our operating performance and formulate business plans. Non-GAAP net profit/(loss) attributable to common shareholders enables our management to assess our operating results without considering the impact of share-based compensation expenses. We also believe that the use of this non-GAAP financial measure facilitates investors’ assessment of our operating performance.
This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as an analytical tool. One of the key limitations of using adjusted net profit/(loss) attributable to common shareholders is that it does not reflect all items of income and expense that affect our operations. Further, the non-GAAP financial measure may differ from the non-GAAP financial information used by other companies, including peer companies, and therefore their comparability may be limited.
The non-GAAP financial measure should not be considered in isolation or construed as an alternative to net profit/(loss) attributable to common shareholders or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review the historical non-GAAP financial measure in light of the most directly comparable GAAP measure, as shown below. The non-GAAP financial measure presented here may not be comparable to similarly titled measure presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing our data comparatively. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB6.9931 to US
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Huize’s beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, business outlook and quotations from management in this announcement, contain forward-looking statements. Huize may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Huize’s goal and strategies; Huize’s expansion plans; Huize’s future business development, financial condition and results of operations; Huize’s expectation regarding the demand for, and market acceptance of, its online insurance products; Huize’s expectations regarding its relationship with insurer partners and insurance clients and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing.
Further information regarding these and other risks is included in Huize’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Huize does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
Investor Relations
investor@huize.com
Media Relations
mediacenter@huize.com
Christensen Advisory
Dolly Zhang
Phone: +852 6996 4179
Email: dolly.zhang@christensencomms.com
| Huize Holding Limited Unaudited Condensed Consolidated Balance Sheets (all amounts in thousands, except for share and per share data) | ||||||||||
| As of December 31 | As of December 31 | |||||||||
| 2024 | 2025 | |||||||||
| RMB | RMB | USD | ||||||||
| Assets | ||||||||||
| Current assets | ||||||||||
| Cash and cash equivalents | 233,207 | 250,826 | 35,868 | |||||||
| Restricted cash | 61,708 | 51,473 | 7,361 | |||||||
| Short-term investments | 5,000 | 2,936 | 420 | |||||||
| Contract assets, net of allowance for doubtful accounts | 71,085 | 86,249 | 12,333 | |||||||
| Accounts receivables, net of allowance for impairment | 157,080 | 172,539 | 24,673 | |||||||
| Insurance premium receivables | 1,763 | 1,141 | 163 | |||||||
| Amounts due from related parties | 995 | 4,315 | 617 | |||||||
| Prepaid expense and other receivables | 68,171 | 89,504 | 12,799 | |||||||
| Total current assets | 599,009 | 658,983 | 94,234 | |||||||
| Non-current assets | ||||||||||
| Restricted cash | 29,883 | 29,683 | 4,245 | |||||||
| Contract assets, net of allowance for doubtful accounts | 28,435 | 45,574 | 6,517 | |||||||
| Property, plant and equipment, net | 47,083 | 38,242 | 5,469 | |||||||
| Intangible assets, net | 68,840 | 66,013 | 9,440 | |||||||
| Long-term investments | 66,716 | 65,012 | 9,297 | |||||||
| Operating lease right-of-use assets | 20,715 | 19,349 | 2,767 | |||||||
| Goodwill | 14,536 | 14,075 | 2,013 | |||||||
| Other assets | 8,981 | 1,236 | 177 | |||||||
| Total non-current assets | 285,189 | 279,184 | 39,925 | |||||||
| Total assets | 884,198 | 938,167 | 134,159 | |||||||
| Liabilities and Shareholders’ Equity | ||||||||||
| Current liabilities | ||||||||||
| Short-term borrowings | 50,000 | 53,000 | 7,579 | |||||||
| Accounts payable | 202,054 | 194,951 | 27,878 | |||||||
| Insurance premium payables | 56,042 | 41,295 | 5,906 | |||||||
| Other payables and accrued expenses | 44,434 | 41,965 | 6,001 | |||||||
| Payroll and welfare payable | 41,005 | 81,813 | 11,699 | |||||||
| Income taxes payable | 2,575 | 7,953 | 1,139 | |||||||
| Operating lease liabilities | 16,743 | 17,275 | 2,470 | |||||||
| Amount due to related parties | 2,495 | 20,415 | 2,920 | |||||||
| Total current liabilities | 415,348 | 458,667 | 65,592 | |||||||
| Non-current liabilities | ||||||||||
| Long-term borrowings | - | 6,990 | 1,000 | |||||||
| Deferred tax liabilities | 14,875 | 14,380 | 2,056 | |||||||
| Operating lease liabilities | 24,082 | 14,966 | 2,140 | |||||||
| Payroll and welfare payable | 649 | 48 | 7 | |||||||
| Other non-current liability | - | 11,269 | 1,611 | |||||||
| Total non-current liabilities | 39,606 | 47,653 | 6,814 | |||||||
| Total liabilities | 454,954 | 506,320 | 72,406 | |||||||
| Shareholders’ equity | ||||||||||
| Class A common shares | 63 | 63 | 9 | |||||||
| Class B common shares | 10 | 10 | 1 | |||||||
| Treasury stock | (29,513 | ) | (29,513 | ) | (4,220 | ) | ||||
| Additional paid-in capital | 909,930 | 910,209 | 130,158 | |||||||
| Accumulated other comprehensive loss | (12,864 | ) | (14,695 | ) | (2,101 | ) | ||||
| Accumulated deficits | (458,886 | ) | (454,845 | ) | (65,042 | ) | ||||
| Total shareholders’ equity attributable to Huize Holding Limited shareholders | 408,740 | 411,229 | 58,805 | |||||||
| Non-controlling interests | 20,504 | 20,618 | 2,948 | |||||||
| Total shareholders’ equity | 429,244 | 431,847 | 61,753 | |||||||
| Total liabilities and shareholders’ equity | 884,198 | 938,167 | 134,159 | |||||||
| Huize Holding Limited Unaudited Condensed Consolidated Statements of Comprehensive Income/(Loss) (all amounts in thousands, except for share and per share data) | ||||||||||||||
| For the Six Months Ended December 31, | For the Twelve Months Ended December 31, | |||||||||||||
| 2024 | 2025 | 2024 | 2025 | |||||||||||
| Operating revenue | RMB | RMB | USD | RMB | RMB | USD | ||||||||
| Brokerage income | 620,155 | 867,153 | 124,001 | 1,193,827 | 1,523,547 | 217,864 | ||||||||
| Other income | 35,496 | 34,552 | 4,941 | 55,087 | 58,693 | 8,393 | ||||||||
| Total operating revenue | 655,651 | 901,705 | 128,942 | 1,248,914 | 1,582,240 | 226,257 | ||||||||
| Operating costs and expenses | ||||||||||||||
| Cost of revenue | (450,119 | ) | (658,632 | ) | (94,183 | ) | (855,496 | ) | (1,153,880 | ) | (165,003 | ) | ||
| Other cost | (3,618 | ) | (3,391 | ) | (485 | ) | (12,790 | ) | (6,387 | ) | (913 | ) | ||
| Total operating costs | (453,737 | ) | (662,023 | ) | (94,668 | ) | (868,286 | ) | (1,160,267 | ) | (165,916 | ) | ||
| Selling expenses | (101,395 | ) | (120,510 | ) | (17,233 | ) | (192,425 | ) | (220,285 | ) | (31,500 | ) | ||
| General and administrative expenses | (74,468 | ) | (88,183 | ) | (12,610 | ) | (146,769 | ) | (136,346 | ) | (19,497 | ) | ||
| Research and development expenses | (29,912 | ) | (29,247 | ) | (4,182 | ) | (62,391 | ) | (58,688 | ) | (8,392 | ) | ||
| Total operating costs and expenses | (659,512 | ) | (899,963 | ) | (128,693 | ) | (1,269,871 | ) | (1,575,586 | ) | (225,305 | ) | ||
| Operating profit/(loss) | (3,861 | ) | 1,742 | 249 | (20,957 | ) | 6,654 | 952 | ||||||
| Other income/(expenses) | ||||||||||||||
| Interest income | 1,819 | 2,602 | 372 | 4,139 | 4,047 | 579 | ||||||||
| Unrealized exchange loss | (440 | ) | (158 | ) | (23 | ) | (684 | ) | (927 | ) | (133 | ) | ||
| Investment income/(loss) | 3,325 | 1,041 | 149 | (511 | ) | (328 | ) | (47 | ) | |||||
| Others, net | 12,275 | 143 | 20 | 17,179 | 1,325 | 189 | ||||||||
| Profit/(loss) before income tax, and share of income/(loss) of equity method investee | 13,118 | 5,370 | 768 | (834 | ) | 10,771 | 1,540 | |||||||
| Share of income/(loss) of equity method investee | 1,957 | 1,631 | 233 | 1,535 | (40 | ) | (6 | ) | ||||||
| Income tax expense | (135 | ) | (3,770 | ) | (539 | ) | (135 | ) | (7,194 | ) | (1,029 | ) | ||
| Net profit/(loss) | 14,940 | 3,231 | 462 | 566 | 3,537 | 505 | ||||||||
| Net (loss)/profit attributable to non-controlling interests | (852 | ) | 1,480 | 212 | 1,215 | (503 | ) | (72 | ) | |||||
| Net profit/(loss) attributable to Huize Holding Limited | 15,792 | 1,751 | 250 | (649 | ) | 4,040 | 577 | |||||||
| Net profit/(loss) | 14,940 | 3,231 | 462 | 566 | 3,537 | 505 | ||||||||
| Foreign currency translation adjustment, net of tax | (825 | ) | (1,361 | ) | (195 | ) | 1,196 | (1,831 | ) | (262 | ) | |||
| Comprehensive profit | 14,115 | 1,870 | 267 | 1,762 | 1,706 | 243 | ||||||||
| Comprehensive (loss)/income attributable to non-controlling interests | (852 | ) | 1,480 | 212 | 1,215 | (503 | ) | (73 | ) | |||||
| Comprehensive income attributable to Huize Holding Limited | 14,967 | 390 | 56 | 547 | 2,209 | 316 | ||||||||
| Weighted average number of common shares used in computing net profit per share | ||||||||||||||
| Basic and diluted | 1,002,394,778 | 1,009,454,734 | 1,009,454,734 | 997,172,042 | 1,009,159,442 | 1,009,159,442 | ||||||||
| Net profit/ (loss) per share attributable to common shareholders | ||||||||||||||
| Basic and diluted | 0.00 | 0.00 | 0.00 | (0.00 | ) | 0.00 | 0.00 | |||||||
| Huize Holding Limited Unaudited Reconciliations of GAAP and Non-GAAP Results (all amounts in thousands, except for share and per share data) | |||||||||
| For the Six Months Ended December 31, | For the Twelve Months Ended December 31, | ||||||||
| 2024 | 2025 | 2024 | 2025 | ||||||
| RMB | RMB | USD | RMB | RMB | USD | ||||
| Net profit/ (loss) attributable to common shareholders | 15,792 | 1,751 | 250 | (649 | ) | 4,040 | 577 | ||
| Share-based compensation expenses | 1,224 | 24,214 | 3,463 | 9,021 | 18,584 | 2,657 | |||
| Non-GAAP net profit attributable to common shareholders | 17,016 | 25,965 | 3,713 | 8,372 | 22,624 | 3,234 | |||
1 Non-GAAP net profit attributable to common shareholders is a non-GAAP financial measure. For more information, please see the section of “Use of Non-GAAP Financial Measure Statement” and the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.
FAQ
What were Huize (HUIZ) full-year 2025 revenue and profit figures?
How much GWP and FYP did Huize (HUIZ) facilitate in 2025?
What drove Huize's expense-to-income ratio improvement in 2025?
How did Huize's operating costs change in 2025 and why?
What customer and partner metrics did Huize report for 2025 (HUIZ)?
What liquidity position did Huize (HUIZ) report at December 31, 2025?
